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MorlockP's profile
ⓘ Dogs don't have thumbs
ⓘ Dogs don't have thumbs
ⓘ Dogs don't have thumbs
@MorlockP

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ⓘ Dogs don't have thumbs

@MorlockP

Two-time Prometheus award-winning hard science fiction author. https://www.amazon.com/dp/B005JPPMS6  Learn how to homestead https://www.amazon.com/dp/B093BC3K1T 

Aristillus Crater, Luna
amazon.com/dp/B005JPPMS6
Joined June 2012

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    ⓘ Dogs don't have thumbs‏ @MorlockP Jan 6

    ⓘ Dogs don't have thumbs Retweeted PoliTex

    I'm curious about (3) ... particularly, I'm curious about why, when I look at local property tax records, a decent number of houses aren't owned by Joe Blow, but by Joe Blow Family Trust [ also curious re (2) but @NoLongerBennett has already asked about that...altho heck (4) ]https://twitter.com/PoliPat1/status/1478960639808839680 …

    ⓘ Dogs don't have thumbs added,

    PoliTex @PoliPat1
    So goddamn. The 5 things I can talk about for 30 minutes without prep 1) How to train for a marathon 2) Classic cocktails 3) Estate Tax planning 4) Tiki bar culture 5) Building a life insurance practice around high net worth and business owners.
    Show this thread
    5:48 AM - 6 Jan 2022
    • 11 Likes
    • Jeremy Real zywiec 6D (2,0) superconformal field theory Will Hinsa Winston Ourania, unmasked retard² PhD dc aka Francis S. Poesy
    4 replies 0 retweets 11 likes
      1. Morgan Cole‏ @MorganColeBooks Jan 6
        Replying to @MorlockP @NoLongerBennett

        That would be interesting. I'd guess it'd be better than letting the government eat your lunch when you die.

        0 replies 0 retweets 2 likes
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      2. Mauv‏ @ThatsMauvelous Jan 6
        Replying to @MorlockP @NoLongerBennett

        when you die, your property generally goes into the probate process, which exposes you to publicity and judicial oversight and dispute property in a trust avoids probate - passes faster, cheaper, and lower risk. (trust can be litigated but the exposure is a lot lower)

        2 replies 0 retweets 6 likes
      3. Demiurgent 🥃 🖤‏ @tr0g Jan 6
        Replying to @ThatsMauvelous @MorlockP @NoLongerBennett

        Having the property in a trust also shields you from inheritance taxes. Since the property remains in the trust, legally it doesn't change hands and no death tax.

        2 replies 0 retweets 3 likes
      4. Show replies
      1. Homebound Dev‏ @ClearAudacity Jan 6
        Replying to @MorlockP @NoLongerBennett

        Literally paying a lawyer right now to set this up. My county is notorious for having a terrible Probate (elected) judge. My lawyer recommends everything in trusts: house, cars, beneficiary for assets

        0 replies 0 retweets 2 likes
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      1. PoliTex‏ @PoliPat1 Jan 6
        Replying to @MorlockP @NoLongerBennett

        The short answer is that revocable trusts are a common estate planning device. Assets owned in trust are not subject to probate, can be structured to automatically take advantage of state+fed estate tax credits, can avoid certain issues with incapacity, and aren’t public record.

        0 replies 0 retweets 3 likes
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