The legal reason to beware of the lush who can drink anyone under the table

Our speaker at Traction REIA Online this month is Bill Noll. He’s both a Tax Attorney & Certified Public Accountant.

I asked him to talk about what we as real estate investors need to do to protect ourselves from the CRaZy things that can (and do) happen in life.

Hey Bill. Thanks for coming to Traction this month.

You’ve told me that a Trust is a key to both asset protection and wealth. But I know many people are confused about what exactly a Trust is, and how it differs from an entity like an LLC.

A trust is a legal arrangement or entity to hold, manage, control, privatize, protect or take care of property in certain special ways.

Trusts are NOT publicly created by a state corporate bureau (like a Corporation or LLC), but rather by private written contracts between two parties – the grantor and the trustee, who create the contract for the benefit of a third party – the beneficiary.

Typically the beneficiaries include the grantor, their spouse and heirs, such as children, grandchildren, etc.

There are many types of trusts, however our focus in this discussion is an Estate planning trust – such as a Revocable Living Trust (RLT) which is an arrangement for the primary purpose of transferring your assets to your heirs upon your demise, without the cost and agony of probate.

With an RLT you have superior family legacy planning because anything a will does, a properly structured RLT does and does so much better.


(1) Identification & control of transfer of property to rightful heirs, with very little chance of being contested (A will can always be contested and often is).

(2) Avoid probate expenses, disputes and hassles by transferring legal title of property out of the grantor’s name into the trust. (A will does not do this).

(3) Give instructions for management of the trust assets during a period of grantor incapacity or being institutionalized while the grantor is still living. (A will does not do this).

Got it. Can you give an example of how this would come into play?

Without such a trust the following real-world financial disaster happens:

My cousin (Martin) happily married for many years with four great children.

Unfortunately, he and his wife got divorced.

Subsequently he meets some “lush” (who can drink anyone under the table).

They marry; and a year later he suddenly and tragically dies.

Guess who gets his entire estate?

The lush!

Guess who got NOTHING?

His children!!

It was not a huge estate, but $275,000 (including a house) is not chicken feed.

Suppose you were the children – how would you feel?

Obviously not very good. This sad family occurrence would not have happened with a properly structured trust.


Want to learn more and be able to protect yourself properly?

Bill is doing multiple ONLINE events for Traction REIA:
(and we have in-person networking events without Bill in our 2 focus regions)

ONLINE Training Webinar ::
The Power of the Right Structure – The Foundation For Keeping What You Make and Protecting Your Assets Without Expensive Lawyers
SPEAKER: Bill Noll

Tuesday January 23rd ONLINE using ZOOM.
8pm Eastern
7pm Central
6pm Mountain
5pm Pacific

Works nationwide. Join us from anywhere.

Click here to RSVP & Get the Zoom Link

Traction REIA DC Beer & Real Estate Happy Hour

Thursday January 25th from 7pm to 9pm
Caboose Tavern
520 Mill ST NE
Vienna, VA 22180
Click here to RSVP

Traction REIA Sarasota/Tampa Beer & Real Estate Happy Hour

Thursday January 25th from 7pm to 9pm
Mandeville Beer Garden
428 N Lemon Avenue
Sarasota FL 34236
Click here to RSVP

ONLINE Training Masterclass ::
“Total Wealth Protection For You and Your Family”
SPEAKER: Bill Noll

Saturday January 27th
9am – 1pm Eastern
8am – 12noon Central
7am – 11am Mountain
6am – 10am Pacific

Works nationwide. Join us from anywhere.

Click here to Get a Ticket & the Zoom Link

Tom Zeeb
Traction REIA
Washington DC | Tampa | Sarasota | Online

Traction REIA:
14+ Year Recipient of the National REIA “Honors of Merit”
and the “Award of Excellence”
For Best Real Estate Investor Association!

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