Irrevocable Trusts Explained Simply | Protect Assets & Build Generational Wealth
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Irrevocable Trusts Explained Simply | Protect Assets & Build Generational Wealth
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What happens when you die? How you you use a trust to avoid probate and build wealth. This video explains that in detail. #wealth #probate #millionaire
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Revocable Trusts: Think of this as a flexible savings box. You can put things in, take things out, and even change the rules of how it works as long as you’re alive. You’re totally in charge. But, just like a piggy bank at home, since you can access it anytime, so can anyone you owe money to. It doesn’t hide your stuff from people you might owe money to. Irrevocable Trusts: This one is like giving your savings box to a trusted friend with strict rules. Once you give it away, you can’t just decid
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Next time he ask you what your love language, Tell him THIS! What all can fit in that irrevocable trust ? An irrevocable trust can hold a variety of assets, including: 1. Cash 2. Investment accounts 3. Real estate 4.Life insurance 5. Investment account (stocks/bonds/mutual funds) 6. Personal property (Jewelry, artwork collectibles) 7. Annuities 8. Intellectual property #queenmotheray
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