Five Years, Fifteen Thousand Dollars discussed on Family Financial Focus
Fifteen thousand dollars a month in this area I want to protect this stock from having to have that. At risk if I answer a, nursing home so when you implemented neary walkable trust your technically given that asset to the, trust and the children are still the. Beneficiaries but not until you pass away usually but when you transfer assets. That's every, walkable trust after a, time limit right now it's five years again we're not attorneys you, want to check, with your turning on this, but you know practically speaking after five years then if you become catastrophically. Ill that money's protected from the. Nursing home, and that's why, people, do, that but again even an area walkable. Trust all it, is, is change of ownership some people think oh I have to sell all the stock. Pay taxes or. Put it in the trust that's. Not, true, it's just a, change of ownership wow so but that's a you know that type of a question You know there's a lot, of details, that, you want to make sure that you know. Wherever you are asking that question to you explain all of your objectives and the details and then to. Get the appropriate answer as far, as the type trust it is and the tax consequences and the distribution rules and all, that we've seen you know sometimes when. This situation has taken place that the surviving spouse says hey you know. What I'm, never going to need, to stock in my lifetime you know and like it was four, hundred fifty thousand, I'm just gonna give it, to the kids now you know what you can do but you have. To realize that if there is. A you, know if there, is, a, large capital gain that might otherwise be. Avoided if you, just, allow them to inherit the asset rather than give a gift to him now so. There's so you. Know I'm just bringing it up. Because, sometimes, in families they, make likley, say quick decisions on again Accountants accountants but you also want to check with their tax consequences like gifting. I remember you use the, the sort of the the homespun solution sometimes people go.