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Trusts and Real Estate w/ Donnie Flaig :: Ep. 8 Mortgage Wise with Mike Wise
Manage episode 436493905 series 3588640
Mike Wise에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Mike Wise 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Trusts and Real Estate w/Donnie Flaig :: Ep 8 Mortgage Wise
Mike Wise and Donnie Flaig discuss the basics of trusts in real estate financing. A trust is likened to a "bucket" for assets, avoiding probate and its associated court fees and delays. Probate can take 12-24 months, freezing assets and incurring significant legal costs. Beneficiaries, typically family members or charities, are chosen by the trust creator. Trusts keep asset distribution private and can include provisions for minor beneficiaries. Setting up a trust costs $3,000-$4,000, including ancillary documents like health care directives and powers of attorney. Trusts can be managed by a trustee and last beyond the creator's lifetime, ensuring assets are distributed according to the trust's terms.
Highlights:
Probate and Its Drawbacks (1:41)
Special Cases and Trustee Roles (5:44)
Living Trusts and Asset Management (11:25)
Follow Donnie:
https://www.linkedin.com/in/donnie-flaig-17029569/
Join Mike Wise, a seasoned mortgage expert, on "Mortgage Wise with Mike Wise," your go-to podcast for navigating the world of real estate financing. Whether you're a first-time homebuyer, seasoned investor, or industry professional, Mike covers everything you need to know. From in-depth discussions on various loan types and understanding market trends to timely updates on interest rates and their economic and political drivers, Mike keeps you informed and empowered in today's dynamic real estate landscape. Stay tuned for expert insights and practical advice that can make a difference in your financial decisions.
Follow along at www.mortgagewisewithmikewise.com
This podcast is produced by Jim McCarthy and ItsYourShow.co
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