WEBVTT 00:00:00.000 --> 00:00:03.799 What was your vision when you decided to start 00:00:03.799 --> 00:00:12.500 this? I started the vision of... I started to 00:00:12.500 --> 00:00:16.620 do it locally. Okay. And when we started to do 00:00:16.620 --> 00:00:20.280 it locally, we got great ground. And then what 00:00:20.280 --> 00:00:23.579 happened is I'm involved in a lot of mastermind 00:00:23.579 --> 00:00:27.920 groups. Yeah. And there was a lot of... hey, 00:00:27.980 --> 00:00:30.179 what else, you know, how are you getting, you 00:00:30.179 --> 00:00:32.539 know, what's the main source of listings and 00:00:32.539 --> 00:00:35.100 how are you meeting homeowners? And I said, you 00:00:35.100 --> 00:00:38.399 know, it's funny. I'm doing workshops to educate 00:00:38.399 --> 00:00:41.159 people on how to do estate planning. And there 00:00:41.159 --> 00:00:42.840 are other real estate agents like, really, is 00:00:42.840 --> 00:00:45.659 there any? And I said, yeah, you'll be surprised 00:00:45.659 --> 00:00:49.359 how many people own multiple homes. They're not 00:00:49.359 --> 00:00:52.179 protected. And then when they put them into the 00:00:52.179 --> 00:00:56.619 estate plan, they. Um, they say, you know what, 00:00:56.700 --> 00:01:00.640 I want to, I want to sell one or I want to be 00:01:00.640 --> 00:01:03.460 able to, I want to be able to acquire another 00:01:03.460 --> 00:01:07.400 one, or I want to move this property because 00:01:07.400 --> 00:01:10.599 they're the tenants from hell. How do I get rid 00:01:10.599 --> 00:01:13.799 of them? But, but, and then, so that's, that's 00:01:13.799 --> 00:01:16.480 how we actually started to do that. And then 00:01:16.480 --> 00:01:18.939 real estate agents started saying, Hey, can you 00:01:18.939 --> 00:01:22.200 get that software approved in my state? And then 00:01:22.200 --> 00:01:26.819 before you knew it. we got the software compliant 00:01:26.819 --> 00:01:33.019 from all 50 states. Then we came back and get 00:01:33.019 --> 00:01:35.599 into, you know, then they started saying, well, 00:01:35.659 --> 00:01:38.219 how do we market it? And then that's, it just 00:01:38.219 --> 00:01:41.560 started to go on. And I got into this crusade 00:01:41.560 --> 00:01:44.780 to bring awareness nationwide for the simple 00:01:44.780 --> 00:01:48.239 fact that 68 % of homeowners do not have an estate 00:01:48.239 --> 00:01:51.400 plan and they're going to go to probate. So probate 00:01:51.400 --> 00:01:54.219 is something of one of the most awful things 00:01:54.219 --> 00:02:02.680 that you could do because or go through because 00:02:02.680 --> 00:02:04.719 of all the things that happen. I mean, there's 00:02:04.719 --> 00:02:08.319 five things. I mean, there's probably, you know, 00:02:08.340 --> 00:02:11.240 I always tell people when they come to the workshop 00:02:11.240 --> 00:02:13.180 that I want to think about it. I give them a 00:02:13.180 --> 00:02:15.460 home homework assignment. The homework assignment 00:02:15.460 --> 00:02:18.060 I give them is go talk to your friends, families 00:02:18.060 --> 00:02:21.710 and loved ones about. If they know anybody that 00:02:21.710 --> 00:02:24.250 went through probate and then call me back, let 00:02:24.250 --> 00:02:26.669 me know what they say. And then they come back 00:02:26.669 --> 00:02:28.909 like, man, I need one of those. I need an estate 00:02:28.909 --> 00:02:31.990 plan. I need a living trust to protect my family. 00:02:32.030 --> 00:02:35.110 I don't want my family to go through that. Yeah. 00:02:35.129 --> 00:02:38.229 Yeah. And it's, it's, it's, it's a challenge. 00:02:38.330 --> 00:02:40.990 It's such a challenge and it just pops up. Right. 00:02:41.050 --> 00:02:43.689 And most of the time, if you, and then correct 00:02:43.689 --> 00:02:45.789 me if I'm wrong, most of the time, you don't 00:02:45.789 --> 00:02:48.849 know what you don't know until something happens. 00:02:50.359 --> 00:02:56.060 Right. And that's what makes it even more troubling. 00:02:56.199 --> 00:02:58.020 Like, I'll give you an example. I'll give you 00:02:58.020 --> 00:03:00.960 a couple of things of what happens in probate 00:03:00.960 --> 00:03:03.919 in California. Every state is different. But 00:03:03.919 --> 00:03:06.580 in California, the first thing that as an agent, 00:03:06.680 --> 00:03:08.840 the last thing you want to hear is one that your 00:03:08.840 --> 00:03:11.900 customer, one of your customers passed, but their 00:03:11.900 --> 00:03:13.680 kids come to you and they say, hey, you know 00:03:13.680 --> 00:03:15.599 what, you're my, you're the fam, you know, they 00:03:15.599 --> 00:03:18.300 always hear your name or whatever. calling you 00:03:18.300 --> 00:03:20.759 know talking about that i'm the guy to go to 00:03:20.759 --> 00:03:23.939 and they come they say you know what we wanted 00:03:23.939 --> 00:03:26.360 to refinance the house we couldn't refinance 00:03:26.360 --> 00:03:28.860 because we don't have title they want us to go 00:03:28.860 --> 00:03:30.840 to probate we talked to an attorney and the attorney 00:03:30.840 --> 00:03:34.539 says oscar it's fifty thousand dollars but don't 00:03:34.539 --> 00:03:37.680 worry you don't have to pay me right now you 00:03:37.680 --> 00:03:39.719 can pay me when you sell the house like we don't 00:03:39.719 --> 00:03:41.659 want to sell the house this is where this is 00:03:41.659 --> 00:03:44.259 our family home You know, how do we get around 00:03:44.259 --> 00:03:45.800 that? And I said, well, one, you have to agree 00:03:45.800 --> 00:03:49.039 to it. Two, we have to ask them for six to 12 00:03:49.039 --> 00:03:52.000 months to pay them so that way we can try to 00:03:52.000 --> 00:03:53.860 refinance or we're going to have to sell the 00:03:53.860 --> 00:03:56.219 house. That's the first thing that your kids 00:03:56.219 --> 00:04:00.000 may be forced. If you don't have a living trust 00:04:00.000 --> 00:04:03.280 or an estate, a comprehensive estate plan, they 00:04:03.280 --> 00:04:07.099 may have to sell the house to pay for probate. 00:04:07.159 --> 00:04:09.520 That's the first thing. The second thing that 00:04:09.520 --> 00:04:16.180 happens is that in probate. They publish, it 00:04:16.180 --> 00:04:20.480 becomes public record. And that is prone to scammers. 00:04:20.720 --> 00:04:23.939 That means, because it basically says this, if 00:04:23.939 --> 00:04:31.600 you think that Oscar owes you money and he just 00:04:31.600 --> 00:04:34.259 passed, here's all of his assets, here's his 00:04:34.259 --> 00:04:36.839 house, here's how much he had in equity. If you 00:04:36.839 --> 00:04:40.629 think he owes you money, come forward. And if 00:04:40.629 --> 00:04:45.009 you think you deserve part of his inheritance, 00:04:45.389 --> 00:04:48.449 come forward and file a claim. Now, that's something 00:04:48.449 --> 00:04:52.430 that can happen in courts. Now, that's just the 00:04:52.430 --> 00:04:55.250 second thing. The third thing that happens in 00:04:55.250 --> 00:04:59.009 probate is that the court, which is a judge, 00:04:59.170 --> 00:05:02.930 which is human, which makes the final decision 00:05:02.930 --> 00:05:08.930 on your assets. So the government has, and I 00:05:08.930 --> 00:05:12.149 call the government our court system. It's there 00:05:12.149 --> 00:05:15.490 to protect us. However, they are human and they 00:05:15.490 --> 00:05:21.050 make the final decision on your assets. So imagine 00:05:21.050 --> 00:05:23.850 that. Not only, one, they have to pay an absorbent 00:05:23.850 --> 00:05:27.970 amount of fees. Two, it becomes public, so they're 00:05:27.970 --> 00:05:31.089 prone. Like, I don't know about everybody else's 00:05:31.089 --> 00:05:33.209 kids, but my kids are a little naive on what 00:05:33.209 --> 00:05:35.769 happens in this world. They believe everything 00:05:35.769 --> 00:05:38.610 on TikTok. No, just kidding. I always give them, 00:05:38.670 --> 00:05:41.209 like, I saw it on TikTok, so that means it's 00:05:41.209 --> 00:05:46.529 true. But anyways, you know, they're naive, so 00:05:46.529 --> 00:05:49.550 they're prone to scammers. Yes. And then the 00:05:49.550 --> 00:05:52.370 third thing is that the judge makes the final 00:05:52.370 --> 00:05:54.860 decision on what happens to your asset. But wait, 00:05:54.939 --> 00:05:58.600 it gets even worse. They have to wait anywhere 00:05:58.600 --> 00:06:03.540 from 18 to 24 months to get their money or to 00:06:03.540 --> 00:06:07.980 get access to settle the estate. And then on 00:06:07.980 --> 00:06:11.779 top of that, they may be prone to tax consequences. 00:06:12.319 --> 00:06:16.040 So those are just the top five things that can 00:06:16.040 --> 00:06:19.740 happen if you don't have an estate plan. So that 00:06:19.740 --> 00:06:24.720 is just amazing that. 68 % of people. And it 00:06:24.720 --> 00:06:30.139 came to me as, as a, as I say, you know, I got 00:06:30.139 --> 00:06:32.480 to do, how do I, how do I bring awareness? And 00:06:32.480 --> 00:06:33.899 I said, you know, I'm going to get on podcasts. 00:06:34.060 --> 00:06:36.959 I'm going to see if who would participate on 00:06:36.959 --> 00:06:39.879 bringing awareness to protect people's homes 00:06:39.879 --> 00:06:46.600 from, from scammers and, and high cost of legal 00:06:46.600 --> 00:06:50.220 fees. Yeah. Yeah. And it's it's it's happening. 00:06:50.339 --> 00:06:52.639 It's so interesting that you say this, Oscar, 00:06:52.759 --> 00:06:58.100 because I just had to let I wouldn't say myself 00:06:58.100 --> 00:07:00.800 and my client had to part because they later 00:07:00.800 --> 00:07:02.639 found out that they weren't on the deed after 00:07:02.639 --> 00:07:05.180 their loved one passed away. And I was like, 00:07:05.279 --> 00:07:07.639 oh, my goodness. So, of course, now they're having 00:07:07.639 --> 00:07:11.439 to go on a probate. But. The challenge is when 00:07:11.439 --> 00:07:14.680 this does happen, that family has a likelihood 00:07:14.680 --> 00:07:17.379 of losing that home by it going into foreclosure 00:07:17.379 --> 00:07:19.399 because they're not knowing all these things. 00:07:19.600 --> 00:07:23.439 And so as I had this discussion with this individual, 00:07:24.519 --> 00:07:27.839 it's sad because of the simple fact, as I mentioned 00:07:27.839 --> 00:07:29.879 earlier, you don't know what you don't know. 00:07:30.019 --> 00:07:33.160 So what's one of the biggest misconceptions that 00:07:33.160 --> 00:07:36.019 people have about estate planning? I can tell 00:07:36.019 --> 00:07:39.579 you, there's several of them, and one of the 00:07:39.579 --> 00:07:42.899 biggest misconceptions is that they have to... 00:07:42.899 --> 00:08:00.279 Give me one second. The biggest misconception 00:08:00.279 --> 00:08:05.860 that people have of... estate planning is i think 00:08:05.860 --> 00:08:12.399 there's three okay one one is one is that they 00:08:12.399 --> 00:08:17.360 are they think they have to be wealthy and the 00:08:17.360 --> 00:08:20.120 misconception of saying because estate planning 00:08:20.120 --> 00:08:22.879 is always like oh trust fund babies and this 00:08:22.879 --> 00:08:25.579 but i here we're here to tell people that if 00:08:25.579 --> 00:08:28.519 you own a home you're considered wealthy in this 00:08:28.519 --> 00:08:34.049 country Because of that, that's the first misconception 00:08:34.049 --> 00:08:37.529 that you have to be wealthy. Everybody has an 00:08:37.529 --> 00:08:40.850 estate plan. Everybody has an estate plan. And 00:08:40.850 --> 00:08:45.250 that means that when we're in an estate, when 00:08:45.250 --> 00:08:48.210 we have everybody has an estate plan because 00:08:48.210 --> 00:08:52.110 we all own things and we all have that. That's 00:08:52.110 --> 00:08:54.529 the first misconception. The second misconception 00:08:54.529 --> 00:09:00.100 that people have is that a will. is enough and 00:09:00.100 --> 00:09:04.000 that's mostly on the east coast by the way um 00:09:04.000 --> 00:09:08.799 people in california we're we know because we 00:09:08.799 --> 00:09:12.799 communicate with each other quite a bit um and 00:09:12.799 --> 00:09:17.100 it's and it's impossible to not tell people or 00:09:17.100 --> 00:09:19.480 not like when somebody knows they're gonna do 00:09:19.480 --> 00:09:24.539 something they know that They tell people right 00:09:24.539 --> 00:09:28.259 here and we communicate and the word goes by 00:09:28.259 --> 00:09:33.840 really fast about what happened at court and 00:09:33.840 --> 00:09:36.860 all these things. So the word goes like, wow, 00:09:36.980 --> 00:09:40.340 we really need one. But even then, I think those 00:09:40.340 --> 00:09:43.679 are probably the two biggest misconceptions that 00:09:43.679 --> 00:09:48.379 a living trust does protect it and that it's 00:09:48.379 --> 00:09:51.870 for the wealthy and it wills enough. Okay. And 00:09:51.870 --> 00:09:54.529 with those two misconceptions, as you mentioned, 00:09:54.590 --> 00:09:57.149 you stated that people often believe that they 00:09:57.149 --> 00:10:00.570 have to be wealthy and then that a will is enough. 00:10:00.929 --> 00:10:03.250 What's the most common mistakes that they make 00:10:03.250 --> 00:10:06.610 when they actually begin this process? The most 00:10:06.610 --> 00:10:10.090 common mistake that they do is they don't take 00:10:10.090 --> 00:10:16.450 advantage of all the things that a will or a 00:10:16.450 --> 00:10:21.759 living trust has to offer. In our workshops, 00:10:22.039 --> 00:10:27.480 everybody's most aha moments is that the understanding 00:10:27.480 --> 00:10:31.320 of a living trust is a contract or an agreement 00:10:31.320 --> 00:10:36.879 between the kids or the parent, which is the 00:10:36.879 --> 00:10:40.340 grantor, and the beneficiary, the kids. And it's 00:10:40.340 --> 00:10:43.639 a general agreement. And the agreement basically 00:10:43.639 --> 00:10:47.120 is the instructions you leave your kids for when 00:10:47.120 --> 00:10:52.070 you pass. And the mistake that most people make 00:10:52.070 --> 00:10:55.470 is that they don't make it comprehensive. And 00:10:55.470 --> 00:10:57.809 what I mean by that is they just say, we give 00:10:57.809 --> 00:11:02.250 you everything. And they just transfer it. Now, 00:11:02.289 --> 00:11:05.149 I think that there's things that you can put 00:11:05.149 --> 00:11:07.870 on there. I'll give you an example. If you know 00:11:07.870 --> 00:11:12.350 that they're married to a toxic wife or a... 00:11:14.359 --> 00:11:19.940 good -looking, non -hardworking husband. I always 00:11:19.940 --> 00:11:22.940 say that because I always tell my wife, aren't 00:11:22.940 --> 00:11:26.279 you glad you got married to an ugly, hardworking 00:11:26.279 --> 00:11:34.039 guy? I think that's a mistake because I think 00:11:34.039 --> 00:11:37.559 that you can leave it in the trust. That's one. 00:11:37.840 --> 00:11:41.720 The second thing I think that they do is they 00:11:41.720 --> 00:11:45.919 don't educate. the beneficiaries on the trust 00:11:45.919 --> 00:11:49.659 because they don't tell them, hey, listen, don't 00:11:49.659 --> 00:11:52.100 take the house out of the trust. There could 00:11:52.100 --> 00:11:54.779 be reassessments. There could be taxes. There 00:11:54.779 --> 00:11:56.480 could be a lot of things that could happen. Leave 00:11:56.480 --> 00:11:59.919 it in the trust because if it's in the trust 00:11:59.919 --> 00:12:04.879 and your child or your now young adult or adult 00:12:04.879 --> 00:12:08.080 gets a divorce, they don't get access to it because 00:12:08.080 --> 00:12:11.470 you don't own it. Yeah. Yeah, yeah, yeah. And 00:12:11.470 --> 00:12:14.730 that's that's a big that's a huge mistake. So 00:12:14.730 --> 00:12:17.450 when you mentioned they don't make it comprehensive 00:12:17.450 --> 00:12:20.809 enough, what that brings to my mind is they're 00:12:20.809 --> 00:12:22.929 not very specific about what they're giving. 00:12:23.070 --> 00:12:27.029 All doesn't necessarily mean everything. So are 00:12:27.029 --> 00:12:30.950 you saying to mention the house on, you know, 00:12:31.029 --> 00:12:34.990 Turkey Circle Way or the house, you know, in 00:12:34.990 --> 00:12:38.029 California, the house in Texas? So are you saying 00:12:38.029 --> 00:12:40.860 that? more specific enough about what they're 00:12:40.860 --> 00:12:42.620 giving to the children? No, I was thinking about 00:12:42.620 --> 00:12:47.919 the instructions because the limitations of the 00:12:47.919 --> 00:12:50.919 instructions that you can leave your kids in 00:12:50.919 --> 00:12:55.940 your living trust are only limited to the imagination 00:12:55.940 --> 00:12:59.460 of the instructions you're willing to give. And 00:12:59.460 --> 00:13:02.879 what I mean by that is, you know what, if you 00:13:02.879 --> 00:13:06.620 sell the house, Leave a portion, you know, leave 00:13:06.620 --> 00:13:11.000 some of the proceeds in the trust for your kids 00:13:11.000 --> 00:13:14.019 so they can have some type of inheritance. Okay. 00:13:14.679 --> 00:13:18.059 Just because the money is tax -free, don't spend 00:13:18.059 --> 00:13:22.659 it all. Yeah. Right? Leave some for a rainy day. 00:13:22.820 --> 00:13:26.480 Put some of that away. You know, don't use that. 00:13:26.720 --> 00:13:30.080 And I think that, and it's just my thought, but 00:13:30.080 --> 00:13:35.620 most people, like, When we talk to people that 00:13:35.620 --> 00:13:39.159 have a living trust, one of the things that they 00:13:39.159 --> 00:13:43.279 don't do is update it quite often because the 00:13:43.279 --> 00:13:47.980 average attorney charges $2 ,000 to do an update. 00:13:48.220 --> 00:13:52.080 It costs $6 ,000 to create it, and then it costs 00:13:52.080 --> 00:13:58.679 $2 ,000 to update it. With our software, you 00:13:58.679 --> 00:14:02.320 have unlimited updates for the rest of your life. 00:14:02.679 --> 00:14:05.679 All you got to do is pay the $129 a year the 00:14:05.679 --> 00:14:07.960 year that you update. If you don't, you just 00:14:07.960 --> 00:14:11.799 cancel and then you just don't pay it. And then 00:14:11.799 --> 00:14:14.480 when you want an update, then you can reassign 00:14:14.480 --> 00:14:17.750 it, right? Yes. And that makes a lot of sense. 00:14:17.870 --> 00:14:20.870 And it not being updated and the will being outdated 00:14:20.870 --> 00:14:23.889 when something happens 20 to 30 years later. 00:14:23.950 --> 00:14:27.269 So that makes a, you know, it just helps people 00:14:27.269 --> 00:14:30.429 that are listening to this, that it does change. 00:14:30.490 --> 00:14:33.070 One day things may be the same. Also, not to 00:14:33.070 --> 00:14:36.590 mention, if you get divorced, it's going to need 00:14:36.590 --> 00:14:38.250 to change. You know what I mean? There's so many 00:14:38.250 --> 00:14:41.049 things in life that has to happen, but a lot 00:14:41.049 --> 00:14:43.480 of people don't realize that. Yeah. And one of 00:14:43.480 --> 00:14:45.379 the things that most people and I always tell 00:14:45.379 --> 00:14:48.299 them, just put it in there now. And once she 00:14:48.299 --> 00:14:50.039 gets married, we'll see what happens. And I say, 00:14:50.100 --> 00:14:52.460 you know, one of the things that most people 00:14:52.460 --> 00:14:58.059 don't realize that you could exclude your son 00:14:58.059 --> 00:15:00.799 in law or your daughter in law from from the 00:15:00.799 --> 00:15:03.639 inheritance and have it go straight to your grandkids. 00:15:04.200 --> 00:15:09.059 And in case your child surpasses you, goes to 00:15:09.059 --> 00:15:11.799 heaven before you, I mean, we all hope we go 00:15:11.799 --> 00:15:16.539 there, but if he passes before you, he doesn't 00:15:16.539 --> 00:15:21.240 get all of your assets if you die. They stay 00:15:21.240 --> 00:15:24.379 in the trust and then they surpass him or her 00:15:24.379 --> 00:15:29.000 and go to your grandkids. And that is probably, 00:15:29.120 --> 00:15:31.919 and most people don't realize that when they're 00:15:31.919 --> 00:15:36.299 creating their trust. So that's what I mean by 00:15:36.299 --> 00:15:40.100 comprehensive, a really thought out trust. And 00:15:40.100 --> 00:15:41.919 then I always tell people, and here's the thing 00:15:41.919 --> 00:15:45.399 that I tell people, with our software, because 00:15:45.399 --> 00:15:48.740 you know it does all these things, one of the 00:15:48.740 --> 00:15:52.559 things that is super impressive is that most 00:15:52.559 --> 00:15:55.539 people get updates and they say, oh, she just 00:15:55.539 --> 00:15:58.340 reviewed it once every two years, every three 00:15:58.340 --> 00:16:01.279 years. But we're finding that more people are 00:16:01.279 --> 00:16:04.159 updating it yearly and they're adding provisions 00:16:04.159 --> 00:16:07.000 and they say, hey, I want this to happen. I want 00:16:07.000 --> 00:16:12.139 this. They're making it such a comprehensive 00:16:12.139 --> 00:16:18.259 trust where it's going to affect the legacy for 00:16:18.259 --> 00:16:23.700 generations to come. And that is what the trust 00:16:23.700 --> 00:16:27.639 should be for, is to protect your family. And 00:16:27.639 --> 00:16:29.980 to be able to affect the legacy. Because, you 00:16:29.980 --> 00:16:33.320 know, there's a saying that says, you know, we're 00:16:33.320 --> 00:16:36.840 sitting in the shade today because somebody planted 00:16:36.840 --> 00:16:41.279 a tree yesterday. Yes. Right? Or many, many, 00:16:41.379 --> 00:16:44.500 many, many yesterdays ago. Right? A hundred years 00:16:44.500 --> 00:16:48.100 ago. But we're still benefiting from that tree 00:16:48.100 --> 00:16:51.720 today. Absolutely. And that's the same way that 00:16:51.720 --> 00:16:56.590 I feel that a living trust should be. on there. 00:16:56.710 --> 00:16:59.909 And I think that's probably, I don't think it's 00:16:59.909 --> 00:17:03.330 a mistake. I just think they don't know. Right. 00:17:03.730 --> 00:17:06.089 It's like the homeowner that don't have a trust. 00:17:06.390 --> 00:17:09.309 It just, they don't know. I mean, when I was 00:17:09.309 --> 00:17:15.430 really, I mean, I would say 95 % of my current 00:17:15.430 --> 00:17:18.559 real estate clients have a trust. They don't 00:17:18.559 --> 00:17:20.700 get it today because they're not there economically. 00:17:21.440 --> 00:17:26.640 I mean, our retail costs, our living trust for 00:17:26.640 --> 00:17:30.900 lifetime access is only $24 .97. But we give 00:17:30.900 --> 00:17:34.339 our clients a discount, and we give them discounts 00:17:34.339 --> 00:17:36.480 to be able to make it more affordable. We give 00:17:36.480 --> 00:17:39.839 them payments plans. But some of them, they just, 00:17:40.019 --> 00:17:45.509 you know, I deal a lot with educators. I remember 00:17:45.509 --> 00:17:47.750 Ms. Sharon. Ms. Sharon says, them damn kids, 00:17:47.890 --> 00:17:49.849 they don't even visit me. I'm going to make them 00:17:49.849 --> 00:17:53.569 pay for probate so they can remember me. I'm 00:17:53.569 --> 00:17:55.890 like, well, that's a good way to think about 00:17:55.890 --> 00:18:00.390 it. So visit your mother. Visit your mother. 00:18:00.690 --> 00:18:03.430 She's going to make you go to probate. Absolutely. 00:18:04.029 --> 00:18:07.109 And, you know, it's so. It's so good to have 00:18:07.109 --> 00:18:09.710 this conversation and allow the audience to hear 00:18:09.710 --> 00:18:12.609 this. As I mentioned, I hear it a lot. You've 00:18:12.609 --> 00:18:16.849 heard it a lot. And even though I must say, Oscar, 00:18:16.950 --> 00:18:18.769 even though you might have a home now and you 00:18:18.769 --> 00:18:21.269 never thought about it, it's now time to think 00:18:21.269 --> 00:18:24.690 about it because time is just passing by so fast 00:18:24.690 --> 00:18:27.349 and tomorrow isn't promised. You either want 00:18:27.349 --> 00:18:29.950 to leave your children and your family with a 00:18:29.950 --> 00:18:31.789 debt or you want to leave them with an asset 00:18:31.789 --> 00:18:34.960 that they could choose to grow on. Oscar, I truly 00:18:34.960 --> 00:18:37.660 appreciate this. And you did say this was in 00:18:37.660 --> 00:18:40.619 all 50 states. Is that correct? In all 50 states, 00:18:40.759 --> 00:18:43.700 yeah. We work with a lot. And I want to mention 00:18:43.700 --> 00:18:48.019 one more thing. A living trust is also known 00:18:48.019 --> 00:18:52.220 to help business owners create the legacy so 00:18:52.220 --> 00:18:55.759 they're not forced to sell their business. Because 00:18:55.759 --> 00:18:59.819 when you have a living trust, you could literally... 00:19:00.269 --> 00:19:02.569 When you start to think about standard operating 00:19:02.569 --> 00:19:05.549 procedures, you start to think about what's going 00:19:05.549 --> 00:19:08.349 to happen when I pass. What do I want to have 00:19:08.349 --> 00:19:12.349 happen with the business? And most people, and 00:19:12.349 --> 00:19:17.549 I like using the bakery story of Mr. Pedro. He 00:19:17.549 --> 00:19:21.730 had a bakery. He started to write SOPs. He couldn't 00:19:21.730 --> 00:19:23.730 write them. So I told him, just put a camera 00:19:23.730 --> 00:19:26.710 up and talk to the kids through the camera and 00:19:26.710 --> 00:19:28.650 they'll get it. And they're like, they're never 00:19:28.650 --> 00:19:31.839 going to do nothing. Check this out. He left 00:19:31.839 --> 00:19:34.539 them. So he ended up wanting, he said, well, 00:19:34.660 --> 00:19:37.299 I want to be able to, how do I protect the kids? 00:19:37.579 --> 00:19:39.220 Because I know they're not going to want to do 00:19:39.220 --> 00:19:41.200 the business, but I want the bakery to continue 00:19:41.200 --> 00:19:43.839 to provide for them. So we got what's called 00:19:43.839 --> 00:19:48.720 key person insurance for him and his business. 00:19:49.460 --> 00:19:52.839 It was about 1 .5 million. He did all these SOPs 00:19:52.839 --> 00:19:55.119 and he started to, he did, I don't know. I think 00:19:55.119 --> 00:19:59.160 it was, I think it was a total like of. 300 videos 00:19:59.160 --> 00:20:02.180 over two years or something like that of instructions 00:20:02.180 --> 00:20:05.160 to the kids. When they got the insurance policy, 00:20:05.460 --> 00:20:08.900 the trust said this money was only to be used 00:20:08.900 --> 00:20:12.400 for the business, either to hire somebody, to 00:20:12.400 --> 00:20:15.079 hire somebody, or to keep the business running. 00:20:15.180 --> 00:20:17.720 That's it. They couldn't benefit personally from 00:20:17.720 --> 00:20:23.519 it. They now have a factory bakery and they have 00:20:23.519 --> 00:20:28.660 about 17 delivery trucks throughout Los Angeles 00:20:28.660 --> 00:20:32.700 because of the money. They all decided that, 00:20:32.720 --> 00:20:34.500 you know what, this is what Grandpa, because 00:20:34.500 --> 00:20:38.140 they started to see the videos of how passionate 00:20:38.140 --> 00:20:40.839 he was, what he did, how he really liked it. 00:20:41.869 --> 00:20:45.630 and i i i haven't seen all the videos but they 00:20:45.630 --> 00:20:47.650 could say that you know what that really inspired 00:20:47.650 --> 00:20:51.069 them they really didn't see that poor that part 00:20:51.069 --> 00:20:54.769 of the business yeah and in his memory they they 00:20:54.769 --> 00:20:57.630 grew the bakery to where it's at today yeah you 00:20:57.630 --> 00:21:02.269 know Which is amazing. Imagine having your business. 00:21:02.390 --> 00:21:04.029 You have a small business you're working at. 00:21:04.109 --> 00:21:06.430 And then all of a sudden your kids come in. They 00:21:06.430 --> 00:21:08.970 pour some water on it. They use social media. 00:21:09.029 --> 00:21:11.789 They blow it up. And then you're in the grave 00:21:11.789 --> 00:21:13.589 going, why didn't you do that when I was alive? 00:21:13.869 --> 00:21:19.069 Yes. And I love that. I've never even thought 00:21:19.069 --> 00:21:21.750 about anything like that. And so this is not 00:21:21.750 --> 00:21:24.390 just for homeowners. This is for business owners. 00:21:26.170 --> 00:21:31.450 Anybody that has an asset, I would say in the 00:21:31.450 --> 00:21:37.849 simplest terms, a living trust is the only document 00:21:37.849 --> 00:21:42.190 that is the easiest way to transfer assets and 00:21:42.190 --> 00:21:46.009 leave specific detailed instructions on what 00:21:46.009 --> 00:21:50.549 you want to have done with those assets. Makes 00:21:50.549 --> 00:21:54.259 all the sense in the world. In lieu of your time 00:21:54.259 --> 00:21:56.539 or respect of your time, please do me a favor. 00:21:56.660 --> 00:21:59.019 Let everyone know, the audience that will be 00:21:59.019 --> 00:22:02.160 watching, where they can go to find this information 00:22:02.160 --> 00:22:05.480 at, even though it's there. Also, any social 00:22:05.480 --> 00:22:08.559 media handles or any podcasts. Yeah, I'm going 00:22:08.559 --> 00:22:14.400 to give you estate .prep .com forward slash guide. 00:22:14.720 --> 00:22:17.720 I want everybody to download this guide. Estate 00:22:17.720 --> 00:22:23.069 .prep .guide is a... is a comprehensive guide 00:22:23.069 --> 00:22:28.869 that eliminates the human element of delay before 00:22:28.869 --> 00:22:31.710 you create your trust, because there is a human 00:22:31.710 --> 00:22:36.329 element of delay. The second thing that we have 00:22:36.329 --> 00:22:41.369 is we also have a discount code for the first 00:22:41.369 --> 00:22:47.380 10 listeners that use Vision. as use vision as 00:22:47.380 --> 00:22:50.420 your discount code and you'll save one thousand 00:22:50.420 --> 00:22:55.400 dollars off of the estate planning software for 00:22:55.400 --> 00:23:00.799 life by using vision pro so um and that'll give 00:23:00.799 --> 00:23:03.039 you that and that'll give you a checkout at 14 00:23:03.039 --> 00:23:05.960 .95 that gives it to them at cost for the first 00:23:05.960 --> 00:23:09.500 10 customers we'll be able to provide that so 00:23:10.160 --> 00:23:12.559 And with that said, you can just visit us at 00:23:12.559 --> 00:23:16.140 estate .prep. There's also a phone number. We 00:23:16.140 --> 00:23:20.420 have an artificial intelligence in the artificial 00:23:20.420 --> 00:23:23.819 intelligence phone number. If people have it, 00:23:23.920 --> 00:23:34.579 let me get that for you. It's 805 -909 -4689. 00:23:35.099 --> 00:23:40.589 Her name is Lisa, and she... Always picks up, 00:23:40.609 --> 00:23:43.450 never takes breaks. And she's there to answer 00:23:43.450 --> 00:23:48.309 any and all questions that you have about estate 00:23:48.309 --> 00:23:50.730 planning. And at the end, she'll ask you if you 00:23:50.730 --> 00:23:53.029 want to book a call with a human or if you want 00:23:53.029 --> 00:23:56.250 to speak to a human. So no pressure. Get the 00:23:56.250 --> 00:23:59.509 information. Get educated. And remember that 00:23:59.509 --> 00:24:02.369 tomorrow's not promised. Yesterday's too late. 00:24:02.809 --> 00:24:07.150 And today is the day to protect your family because. 00:24:07.930 --> 00:24:10.890 If you knew for sure that probate cost was going 00:24:10.890 --> 00:24:13.750 to be higher tomorrow and creating an estate 00:24:13.750 --> 00:24:17.430 plan will also be higher. 10 years ago was $600. 00:24:17.650 --> 00:24:21.829 Now it's $6 ,000. So take action. Thank you for 00:24:21.829 --> 00:24:23.829 being here today. I'm really happy that you tuned 00:24:23.829 --> 00:24:26.130 in to Vision Pros Live. I'm looking forward to 00:24:26.130 --> 00:24:29.410 seeing your reactions as these episodes continue 00:24:29.410 --> 00:24:31.170 to move forward. This is going to get more and 00:24:31.170 --> 00:24:33.230 more fun. We'll have more and more engagement 00:24:33.230 --> 00:24:35.309 as well. We'll invite people to participate in 00:24:35.309 --> 00:24:37.490 the show. And thank you for giving us your time 00:24:37.490 --> 00:24:39.769 and attention. Have an excellent time building 00:24:39.769 --> 00:24:42.109 out your vision and becoming a vision pro yourself.