Q. Does Nexxess International sell “Revocable” Trusts or “Living Trusts?”
A. No way! Revocable trusts, also known as Living Trusts, gives the client only one benefit, which can ultimately create buyer’s remorse for the person buying it. The only benefit of a revocable trust is bypassing probate. That’s it. Living trusts give no tax advantages, privacy protections or asset protection.
Q. How fast can a trust be set up?
A. Typically, we can get the trust set up and begin the activation, consultation and implementation within the first week. There is a 3 day “right of rescission” period which must pass before any work is to begin. This is why we like to say 5-7 business days before the trust set up is complete.
Q. Can I purchase a non-qualified annuity from a trust, and pay it to an outsider?
A. The Trust can purchase a non-qualified annuity; however, it cannot pay the money to someone that is not the Trustee or a Trust Beneficiary. The owner should be the Trust, and the beneficiary could be the Trustee or the Beneficiary.
Q. Does Nexxess International sell “Revocable” Trusts or “Living Trusts?”
A. No way! Revocable trusts, also known as Living Trusts, gives the client only one benefit, which can ultimately create buyer’s remorse for the person buying it. The only benefit of a revocable trust is bypassing probate. That’s it. Living trusts give no tax advantages, privacy protections or asset protection.
Q. What is the price of the trust that you sell?
A. Our basic Family or Beneficial Trust costs $34,000 to setup, activate and implement, which includes up to 45 professional and legal hours of consulting, and it includes the first year taxes AND bookkeeping. There is a lot more to a trust than getting the “book.” The trust must be personalized to each person and their individual situation. Then you must properly activate and fund the trust. This is where 90% of trust buyers will go wrong. Improper activation and funding can invalidate the entire trust and render it completely useless. Then, the last part of the process is implementation of the trust. This involves setting up accounting, business changes, etc.