Business Trust V. Personal Trust: Whats the difference between the two??

What's up guys, it's your boy the bad wolf. Okay, so in the last video, I told you I was gonna talk about some more goodies okay, so a Living trust or a personal trust. What is that? What is it gonna be used for? well, that's gonna be more so used for your Personal side. Okay, like your finances Your personal assets your property something that you want to put into that Contractual agreement or living trust so that you can Control Who gets passed down to and you want to make sure that it's revocable. Okay And when you do that, that's going to allow you and your your empire your generation your family your tribe Whatever else to have that unencumbered Whereas if you pass and you don't have something like that set up, it's got to be probated and other stuff Well, this cuts out the middleman because you've already said so-and-so gets this so-and-so gets this blah blah blah blah This is my my structure that I want to be followed and if this person's not alive or available Then passes this person and yada yada or this person can have complete control on how to disseminate that stuff You can set all that stuff up yourself and I will kind of give you a good Chunk of how to do that in the next coming video. So but I said that versus a business trust Well, essentially it's there once for the personal side so you want to keep them separate and once for the business side now the business side of this is going to be if you want to do a Charity nonprofit or for profit whatever you want to do. You're just going to do it in a in that private contractual way. So Says here trusts are usually set up for private or personal purposes. Whereas corporations are set up for business For profit purposes as noted above nonprofit charities blah blah blah can operate just as a trust with the corporation Differences in the mechanics and the operation operational structure. All right, so For instance educational purposes only this is just a madman in a box telling you the story I was shared information that a particular individual was dealing with a bank and concerns to the person's property and for whatever reason the story goes that the Person fell behind on their payments and whatnot That particular person was given this information which I'm going to share with you now, which is just educational. I mean do your own research But he transferred his house into a trust and Upon going to court for such Because it was no longer in his person's name in that particular format and structure That they no longer had a case against that particular person because now the trust So All they can then do is try to go after the trust now hypothetically, okay, that's where the story ends, but just hypothetically now Hypothetically if they were to pursue the trust, well the trust doesn't have an agreement With a particular bank the asset has been transferred. It's now in private control so Story goes that the man won his case and that the trust was now the legal and lawful owner of the Parcel or house so there might be a lot of Potentials there for people who are in similar situations who might need a Helping hand if you will but before doing anything obviously seek a qualified Individual versed in such information to make sure that it's right for you and your situation So As you go down through if you type in you know living trust personal trust or business trust Once you find out this is something that might be beneficial to you guys So by all means definitely look them up and learn what's the difference between a revocable one and irrevocable one living one a business one Because remember we were given the ability to contract on an unlimited basis You're forming your own jurisdiction of how things are going to operate which nobody can interfere with okay? unless it comes to a point where There's a major situation between those who have the powers within that and then it needs to be taken to the next level to be you know dealt with on a judicial level so Be careful how you put your stuff together and who you involve in it, and what titles you give them, okay? I'm gonna give it to you all you guys have to do your own research and some of it. You know just Okay, I gave you enough breadcrumbs follow the trail, so that's about it guys I'm going to make another video that I think you will find most interesting so as I always say in my videos do your own research and watch all the videos if you can Even if they don't directly apply to you there are you try to keep them really short watch as many as you can and Some of them are not always going to be in the same folder, so just go to the main YouTube site for James you love it and scroll through and Educate yourself. This is free education That most places are charging And people are telling me how much they people are making off of some of you guys out there people have told me directly how much Oh my god like Don't make me charge more and raise my prices, okay? Look no, I'm not gonna do that if I have it's only been moderately obviously But I mean some people are like yeah, I just paid five grand for this or fourteen hundred or nine hundred I mean here's the thing I could do that but I Get say then I would get like three or four people. I mean I deal with hundreds of people right now, okay? So if there is a difference, I guess I make it up more in volume than in you know the price but I don't know I just Can't cease charging somebody that much money And then what not helping out people who are less fortunate like they shouldn't have access to this kind of stuff That it doesn't seem right to me. Maybe I'm too old school but Now that's just not gonna happen here, so subscribe Pass on my information to other people Reposted you guys can reuse the videos. I don't really care just like I said don't be talking jazzy about stuff in there You know I obviously nothing negative you can do that on your own and for those people who do put negative information You know on a couple of comments. I delete those instantly So troll on somewhere else it's not gonna happen here, and you're not gonna get a rise out of me Otherwise definitely guys take care check out all the information check out the offers Thank you guys for going to the website and buying some of the other stuff I do get small compensation from those offers on there Whether it be like five bucks or ten bucks. I appreciate it. I be getting excited. I'm like somebody Open the new account with my link. I got five dollars. Oh, yeah That's stuff. I get excited about All right guys, I'll talk to you later appreciate you