What You Need to Know About a Last Will and Testament

Having a will and being prepared for death and disability are some things that not all people are comfortable doing, but they are important if you want to be in control of your assets even when you’re incapable of making decisions and when you pass away. This is what today’s guest, Mary Hart, specializes in and she’s here to share some important things about preparing and protecting your assets as a real estate investor.

Watch now to learn what you need to know about a last will and testament and the importance of making sure your assets are protected in the best way possible!

Key Talking Points of the Episode

00:00 Introduction
02:23 Where did “Lightning Lips” come from?
04:05 What is the ultimate love letter that you’re putting out?
05:07 What could happen if you don’t have a will created?
06:02 Why is it important to plan your own death and disability?
07:30 What is the best way to set up LLCs for your properties?
08:24 How can you decide how many LLCs to set up for your properties?
09:40 What states are LLC owner-friendly?
10:52 How can you decide if you’re putting up an LLC in a state?
11:35 What is the best way to protect your properties?
12:38 What is the purpose of properties being in a land trust?
13:02 What is the difference between putting property in a land trust and an LLC?
14:25 What happens to a pass-through entity?
15:51 What are the benefits of using a land trust for your properties?
17:09 How can having a land trust help you protect your properties?
18:16 Why is it important to have the best insurance possible for your properties?
19:24 Why did Mary start getting into short-term rentals?
20:52 How did Mary start learning about note investing?
21:40 What is Mondays with Mary?
23:55 What does Mary like the most about Mondays with Mary?
25:34 What has it been like for Mary to live in Kentucky?

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Bill Fairman and Wendy Sweet, sibling principles of Carolina Capital Management, have a combined 35+ years of conventional real estate sales and finance experience. They, along with President/CEO Jonathan Davis, serve as consultants for investors, guiding them to network with other investors and educating them in locating and structuring transactions. We put People and Principles ahead of Profit--always.

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