All Forum Posts by: Calixto Urdiales
Calixto Urdiales has started 35 posts and replied 1184 times.
Post: MAD MONEY
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
LMAO-
Really Tony really you have got to be joking right? 8)
Post: Capitol Gains?
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
Originally posted by "RECPATAXMAN":
If it is in a revocable living trust, then yes, all the assets are still considered your personal assets, they just pass on to the hiers by the trust instrument and not the will. It also bypasses probate.
There are irrevocable and revocable "living" trusts. A living trust is a trust that is formed while you are living and you have put things in it.
Joe
Oh and in order for that money not to be taxed wouldn't the irrevoable living trust need to have it's own bank account?
Post: Capitol Gains?
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
Originally posted by "RECPATAXMAN":
If it is in a revocable living trust, then yes, all the assets are still considered your personal assets, they just pass on to the hiers by the trust instrument and not the will. It also bypasses probate.
There are irrevocable and revocable "living" trusts. A living trust is a trust that is formed while you are living and you have put things in it.
Joe
Oh and in order for that money not to be taxed wouldn't the irrevoable living trust need to have it's own bank account?
Post: Mass Foreclosures and Abandoned PETS! Feedback??
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
James does your Dog do and tricks?
P.S. So how is your bike, have you gone for a ride lately?
Post: MAD MONEY
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
See Andres you need to promote this flick or looks like it will be an even harder uphill battle from here.
Post: Greetings from Rhode Island!
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
Welcome to the club Ryan and I hope you feel at home my friend.
:welcome: To Biggerpockets!
Post: New investor from PA
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
Sorry for the late welcome my friend but thanks for coming aboard!
:groovy: :superman: :goofy:
Post: Capitol Gains?
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
One more questions fellas.
If property is owned by my LLC and said LLC has employees or managers of the LLC that live in the property, would this be considered owner occupied?
And will this fall under the Owner Occupied time frame for you to avoid capitol gains?
Post: What animal would you describe yourself and why?
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
Well in that case I want to change what I first said (the Hawk) and I want to go with the Bull Fighter, cause when your the fighter you don't get the horns you give the swords! LOL
Post: Breaking News!!! Major hotel fire in Las Vegas
- Residential Real Estate Agent
- Los Angeles, CA
- Posts 1,462
- Votes 9
Yes I am dead serious!
LMAO your too much Jon, oh the pain the pain :crying: