TD Wealth's Monique Shebbeare breaks down viral financial advice, and why it could backfire.
She cautions that selling your assets and moving them into a Trust to bypass probate fees could cost you more in taxes, including:
🏠Putting a home into a Trust could mean losing the Principal Residence Exemption
💰Selling assets then moving them into certain Trusts could trigger capital gains taxes
⚖️In some cases, these costs may outweigh any probate savings.
Learn more about how an advisor can help here:
https://www.moneytalkgo.com/video/can-you-really-bypass-probate-by-putting-everything-in-a-trust/
