When to Set Up a Business Trust | Asset Protection for Business Owners [Video]

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Chapters:
0:00 Intro
0:19 What is a Business Trust?
1:34 SPONSOR: Tailor Brands
2:40 Types of Business Trusts
4:12 Advantages of Business Trusts
5:26 Disadvantages of Business Trusts
6:16 When Should You Set Up a Business Trust?
8:07 Can You Put Your LLC Inside a Business Trust?
8:45 Cost of Setting Up a Business Trust
9:11 Steps to Take Before You Set Up Your Business Trust
10:17 What if Creditors Try to Seize Your Assets
11:00 Avoid the Probate Process
12:26 Outro

Many business owners consider switching entity types or setting up new business structures as they move through their careers. One popular entity that a lot of business owners switch to is a business trust. There are a number of key advantages of business trusts that can make them appealing to business owners.

In this video, tax expert Karlton Dennis breaks down all of the key benefits of business trusts. He also explains when many business owners end up setting up business trusts. The types of business trusts that Karlton Dennis discusses in this video include grantor trusts, simple trusts, and complex trusts.

Knowing the differences between these types of trusts and how business owners can benefit from business trusts can help them decide whether or not trusts are right for them. Many business owners also wonder if they can put their LLC inside of a business trust. Karlton also answers this question in the video.

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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#businesstrust #llc #taxstrategy