WEBVTT

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Yeah, ripped up news. You
need advice? Who you don't have?

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Come running just as as you can. Shooter's gonna help. Come man,

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This is the Troubleshooter Show. No
Tom Martino, Hi, Tom Martino here,

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Welcome to the show. How are
you doing? We got Dan Mackenzie

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with us. A state law that's
always a popular topic for texting. If

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you want a text, or you
can call, and of course you don't.

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Texting is five seven seventh three nine, And of course we don't limit

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to one topic ever, but this
is really important stuff I wanted to ask

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him about. He's a state planning, he's an attorney. What isn't a

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state plan When do you need one? When do you not need one?

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Meanwhile, I want to talk to
you about your problems, questions and complaints.

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So let's get to the phone and
talk now. When you're not here,

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or when you don't call here directly, you can call three oh three

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Martino three oh three six two seven
eight four sixty six and we'll call you

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back like we did. James,
James, what's going on with you?

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James? What's happening? Hey?
I just uh, I've got a little

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problem. It's not a big problem. But uh, I just can't understand

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this. I uh, I needed
to get a shuttle service from the airport,

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Denver Airport. Yeah, ran like
and I booked it on November twenty

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first of last year. And I
would wait a minute, you when you

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booked it November of last year?
When was When was it for? How

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much in advance? Did you do
it? That was it? I was,

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That's what I booked. It was
November twenty first, and I,

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oh, for November twenty first,
I mean, you did it immediately.

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I got picked up, got picked
up on the sixth of March. That

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was the I was supposed to be
picked up at the Denver Airport on the

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sixth of March and driven to shuttles
through Grand Lake, which was fine.

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And I also at the same time
that I had so James, you called

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in November for a pick up in
a March, right, that's correct?

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Got it? So then then I
I in two weeks I wanted to be

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picked up back in Grand Lake and
taken back to the airport, and they

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agreed to that and I paid one
hundred and sixty six dollars one way,

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and then another one hundred and sixty
six dollars I paid in advance. So

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anyway, when I did get picked
up on March sixth at about till I

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think it was eleven o'clock, and
that worked out great, drove me to

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uh selld me to Grand Lake.
Well, I was all done with what

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I needed to do in Grand Lake, and I just called the day before,

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on the nineteen to just check to
see if you know, they were

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going to be there at noon the
next day. And the lady on the

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phone says, oh, you know, We're sorry, we can't pick you

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up. It's too car It says, excuse me, I'm I supposed to

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get to the airport. No wait
a minute, they never let you know

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that. Had you not called just
to check, you would have never known

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exactly what the hell is that all
about. I mean, you know,

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listen, I used to have this
fear all the time about everything. In

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fact, when Uber and Lyft first
started, I couldn't believe people got up

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in the morning and they had to
go to the airport right and without making

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any prior arrangements, like about an
hour before or whatever they needed to go,

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or that they would they would they
would just go on their phone.

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I thought, what if somebody's not
there. And I don't know if that's

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ever happened to anyone with Uber or
lyft, So I always found that extraordinary,

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let alone making an advanced registration reservations. Now, when you told the

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driver I need a ride back to
the airport tomorrow, did he write it

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down? It was in two weeks? It was in two weeks. Oh,

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two weeks, okay? Basically yeah, yeah, And this was the

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twentieth of March. So anyway,
here's here's the deal. So wait a

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minute, did did they write it
down? Did you or did you call

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a number? Or did you tell
the driver? Oh? No, no,

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I had this all confirmed. I
have it in writing that it's all

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confirmed. That okay, And in
two and you did this. You did

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this basically two weeks in advance,
and the night before you find out they

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can't make it. Yeah, they
just said, uh, yeah, we

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can't. We're just too far.
I said, excuse me, I am

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a flund at five o'clock. And
had they ever called you or left a

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message or texted you or anything?
Nothing? Gray? So what's going on?

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Now? What about I need to
talk to a supervisor. And she

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says, let me check my supervisor
She comes back about five minutes later and

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says, no, I'm sorry,
you can't go to the eirport. We

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we're just not picking you up.
I says, wait a minute, I

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already paid for this. What am
I supposed to do? Oh? You

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know what, we do have another
service. It's a private service, which

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we could hook you up with.
I said, well, how much is

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that? They said it's five ninety
nine and I said, okay, five

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That was more than the flight,
wasn't it. Yeah, anyway, what

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happened? What happened? Did you
take the private service? Yes? I

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had to take the private services because
well, you know what I would do.

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I swear to God what I would
do is I take those guys to

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small claims court and use your verification
by email as proof that they screwed you.

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So anyway, I left. I
sent him a letter about four weeks

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ago, just as I came back, I said him a nice letter,

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just saying, you know this was
not right. You You basically owe me

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four hundred and thirty three dollars because
I get it this. Yeah, yeah,

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I'm your in agreement with you if
you truly had a confirmation and they

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did not let you know in advance
that they couldn't do it, And what

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happened? What do they say?
Are they agreeing to pay you back or

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what? No, they're not even
no responding. I called them. They

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won't answer. They just all right, well, we're gonna call them.

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What's the name of the play the
shuttle. It's called Grand Mountain Rides.

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It's enough easier. Wait a minute, Wait a minute, they're in.

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They're located in the mountains. And
they said it was too far. Yeah,

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okay, advertised they advertised that they
go to Grand Lake. Shoot,

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wait a minute, and you can't. No, I would never let this

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go if you truly have Do you
truly have a confirmation number for the ride

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back? Yeah? I should have
it somewhere here. I've got all the

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time. Did they just plan on
not showing up? What they knew you

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were booked, but they just planned
on not showing up? Or do they

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not even acknowledge you booked it?
No, they acknowledged that I booked it,

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but they said they just couldn't make
it because it's just too far.

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That was the excuse. And even
the supervisors said, nah, we're not

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gonna we can't pick you up.
So I was I was did you ask,

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did you ask why they didn't bother
to tell you? I was so

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distraught at that time that you know, I was just going to another question,

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another question, another question. Have
you ever heard of uber or Lyft?

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They don't have it there. They
don't have anything like that in Grand

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Lake. There's no one around up
there. The only other shuttle services is

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Home James and they do mostly winter
park that company in March. In March,

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they just don't go all the way
to granted because there's no Kachina.

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Who do we have that can do
what happened? I'm hearing static. Hello,

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that's coming from Oh. Mark's trying
to get in. Mark. I

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don't know why we can't hear you, bro, We just heard static.

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Let's this is a Mark would take
you to small would take these this shuttle

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place to small claims court, using
that verification as proof he had a contract

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and they breached it and it cost
you money and all that. And we

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can do that separately. But I
want to Kachina, who do we have.

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Let's give it to a deputy to
work on. I just need to

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mark down who we're going to give
it to. Sure we could do Deputy

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Dollar or we can also do Deputy
bo. You know what I want to

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do, Deputy shop I no,
no, no, okay, I want

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to do our newest deputy coming in
tomorrow. I want you to save it

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for her, okay, because she
kicks butt and I want to And we

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haven't come up with a name yet
for her, So what do we do?

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Her name is Genie but depid huh
Deputy xx y xx because she's a

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female. Oh fun? Oh,
that's fun. All that is in our

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first female FIRSTX correct? Oh man, we can come up with something like

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that. That's pretty cool. We
got more coming to listen, James,

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you're gonna be in good hands.
Man. We're gonna see what we can

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do with this one three zero three
seven to one to three. Talk now,

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Alliance three oh three nine two zero sixteen

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twenty two. Hi Tom Martino,
your troubleshooter three oh three seven one three

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talk three oh three seven one three
eight two five five Diane, what's happening

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with you? And Draft Kings?
Hey? Tom, Thanks, I'm actually

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calling for my daughter in law.
But they placed a bet on Draftking sportsbook

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in December of twenty three and it
won and Draftking it was like thirteen hundred

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and seventy dollars that they won,
and Draftking denied how much total? I'm

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sorry, how much total? Thirteen
hundred and seventy dollars okay, and Draftking

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has denied to pay it to them
because they said that they don't believe that

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it was them that placed the bet. So my daughter in law has sent

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like her driver's like, well,
what does that mean they don't believe it?

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What do they mean they don't believe
that their identity is correct? They're

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not paying them because they don't believe
they're the person that is on the account.

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Basically, you got to well give
us a little more than that.

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What the hell does that mean?
Are they saying that they didn't give a

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social Security number? Or they they
made the bet while they were at a

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state. They've got to be giving
more infos and Mark, here's Mark.

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There's something else too. Even if
they don't believe those people belong to that

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account, why don't they just don't
they just pay the account and then then

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you worry about getting access to it. In other words, isn't that how

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they do it? Don't they just
pay the account? Don't you have an

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account balance? And if they have
access, it's going to be attached to

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a social Security number. The bet
had to be made in the right state.

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I mean, that's what I'm saying. There's more to this than they're

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simply saying, Hey, we don't
think it was you. That doesn't make

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any sense. What else are they
saying? Well, I'm, like I

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said, calling for my daughter in
law. But I did. I did

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find out from them that she has
since such submitted like her social Security number,

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her birth certificate, or driver's license
picture of her to show that it's

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her account that the bet was placed
on. But they just refused to make

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pay the payment out so long to
prove see, that's not even they don't

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even see. This is what I'm
confused about. They just pay the account.

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I don't know what you're saying,
Tom. They pay if you win

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the bet, you get it.
You have to own the account, you

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know. But they but where do
you mark if you win the bet?

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Where do you get paid? Where? They put it in your account?

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That's right, that's right, and
you can transfer it to your No,

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I'm talking about don't they have online
accounts for in other words, they don't

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have an account on draft Kings.
Then, yeah, they do have an

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account with DraftKings. Yeah, so
use your name password just right you would

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with Netflix. So when you go
on that account, there's no money taking

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in and out of that account.
Yeah, you make a deposit and then

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that's the money you bet. If
you win, it goes into your account.

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When it's in your account, you
can cash out into your bet.

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Now that's okay. So then what
difference does it make who has access to

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that? That's up to that account
holder. So in other words, why

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don't they make good on the bet
to begin with and then let the account

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holder worry about whether Diane's daughter in
law is going to get some money or

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not. First of all, the
irs reporting is very very important under any

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legal online gaming. So if they
did not give a correct social Security number

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or something along that line, they're
never going to pay it because they're not

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allowed to pay it. You mean, if they believe the original account was

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set up fraudulently, Yeah, exactly, something along that. That's what I'm

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saying. There's more to this or
the other part is if the bet was

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placed out of state, and they
don't think these people actually place the bet

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well in Colorado, I don't think
that would be the situation. But bottom

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line is they are not getting paid
for this thirteen hundred dollars and why that's

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what we keep asking you. What
are they saying? They have to have

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a specific They're saying that she's not
the correct owner on the account. And

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okay, okay, don what well, I don't know what Diane? Whose

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account is it? Diane, we're
trying to help. Okay, now if

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it's her account. What I'm asking
this is do they if she goes on

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that account, not talks to DraftKings, but goes on that account, can

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she to this day? Can she
place bets or have they suspended the account?

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I don't know if they've gone on
to place one since then because they

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got paid for this. See,
that's what I need to know, because

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00:15:45.559 --> 00:15:50.519
where what you're telling us is incomplete, we need and you can call us

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00:15:50.519 --> 00:15:52.480
back, but we need to know
this first, or have your daughter in

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00:15:52.559 --> 00:15:56.879
law call. We do have people
that we can help, I mean,

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00:15:56.879 --> 00:16:00.519
then can possibly help. But here's
what we need to know. Is this

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00:16:00.639 --> 00:16:06.679
account still active or have they suspended
the account? If they suspended the account,

210
00:16:06.720 --> 00:16:11.679
that makes more sense than just not
paying. Because for example, if

211
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I had an ACCH that was going
into my account, a bank account,

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00:16:18.480 --> 00:16:25.519
the bank doesn't care who I am. They're only worried about putting the ACH

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00:16:25.919 --> 00:16:29.960
in my account. Then if I
have access to that account, I can

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get the money. They don't tell
me, Well, you can't have that

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00:16:33.919 --> 00:16:37.120
money because that's up to me and
that account holder. If it's me,

216
00:16:37.320 --> 00:16:41.639
fine, If it's my wife,
fine. But that's the part we don't

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00:16:41.720 --> 00:16:48.080
understand. Are they not paying because
they're saying the entire account is fraudulent or

218
00:16:48.159 --> 00:16:52.519
are they saying something else. I
mean, we need to know that because

219
00:16:52.639 --> 00:16:57.159
what you're telling us makes no sense. Can she log onto the account right

220
00:16:57.200 --> 00:17:02.279
now and make a bet? Can
she actively use that account? If so,

221
00:17:02.879 --> 00:17:06.920
then they should have paid the account. That's how they do it.

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00:17:07.400 --> 00:17:11.200
So so what you're saying isn't driving. And I'm sure your daughter in law

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00:17:11.519 --> 00:17:14.880
will be able to explain it to
us, and we'd love to help.

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00:17:14.920 --> 00:17:18.839
If go at what's I'll have her
call. If you have her call,

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00:17:19.039 --> 00:17:22.759
I'm gonna mark this. If she
mentions you, Diane, I'm gonna mark

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00:17:22.839 --> 00:17:26.119
this that she'll be calling. Then
we can get to the bottom of it.

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00:17:26.440 --> 00:17:30.559
Three oh three seven one three talk
three oh three east seven one three

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00:17:30.519 --> 00:17:37.599
eight two five five eight eight eight. Heating dot Com they're doing twenty eight

229
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dollars service calls for any one item, for example, the water heater twenty

230
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eight bucks. You get a flesh
you get you get a tune up,

231
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you get a fix and a diagnosis. If you need something major than the

232
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twenty eight dollars applied. They do
that for a toilet twenty eight bucks.

233
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If you have an HVAC problem twenty
eight bucks, and then they apply the

234
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twenty eight eight eight eight heating dot
com the number three oh three seven seven

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zero two seven seven six Go with
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dot com. You don't pay a
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an insurance check up free no obligation
comparison call Compass Insurance paying too much your

238
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coverage at dozens of insurance companies find
out now three oh three seven seven one

239
00:18:29.039 --> 00:18:32.680
help. You'll think you're his only
customer when you choose Frank Durand the real

240
00:18:32.799 --> 00:18:37.319
estate Man dot com to list your
home with Remax Alliance three oh three nine

241
00:18:37.359 --> 00:18:52.400
two zero sixteen twenty two. Hey
Tom Martino, your troubleshooter three O three

242
00:18:52.440 --> 00:18:56.559
seven one three talk seven one three
eight two five five. What's on your

243
00:18:56.640 --> 00:18:59.400
mind? How can we help you? I'm going to open this up now

244
00:18:59.440 --> 00:19:03.680
a state plan. I said you
could text us at five seven seven three

245
00:19:03.839 --> 00:19:06.160
nine. Hey, by the way. You can call us about anything.

246
00:19:06.440 --> 00:19:10.720
But one thing I do want you
to do is call before it becomes a

247
00:19:10.880 --> 00:19:18.359
big problem. Now, the one
problem with the shuttle not showing up,

248
00:19:18.880 --> 00:19:22.119
I don't have a problem if they
made a reservation, confirmed it, and

249
00:19:22.160 --> 00:19:26.000
then way in advance said oh,
by the way, we should have never

250
00:19:26.079 --> 00:19:30.200
done that. We can't do it, we can't take you. But he

251
00:19:30.440 --> 00:19:36.640
said he didn't find out till the
night before when he called to verify and

252
00:19:36.680 --> 00:19:38.759
they said no, we're not coming. Well then they push him off to

253
00:19:38.839 --> 00:19:45.240
a private service for like six hundred
bucks or five hundred whatever it was.

254
00:19:45.319 --> 00:19:48.440
It was terrible. Well, you
can't do that. None of you had

255
00:19:48.440 --> 00:19:59.480
a written authorization or confirmation. So
on this sports betting thing, the sports

256
00:19:59.480 --> 00:20:03.720
betting piece, people have an obligation
to make sure the accounts are real because

257
00:20:03.759 --> 00:20:08.559
there are people I looked up are
setting up fake accounts so they can get

258
00:20:08.559 --> 00:20:14.519
gambling winnings without reporting them. Now, I'm not saying that's happening here,

259
00:20:14.920 --> 00:20:18.799
but they might suspect it is happening
here, or worse, it could be

260
00:20:18.839 --> 00:20:25.240
an excuse. That would be terrible. If a betting app is purposely not

261
00:20:25.440 --> 00:20:30.200
paying off bet I doubt that though, But who regulates those betting apps is?

262
00:20:30.200 --> 00:20:34.839
Because really is it where they're located? Is it? I often wondered

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00:20:34.839 --> 00:20:40.559
how they do that? How can
online betting? Are they prohibited in some

264
00:20:40.839 --> 00:20:44.640
states? Mark? Do you know
anything about online betting? I don't.

265
00:20:44.680 --> 00:20:48.240
I don't know how they leave.
I mean during football season, I've definitely

266
00:20:48.240 --> 00:20:52.319
placed some bets, but I know
for a fact that if the Social Security

267
00:20:52.400 --> 00:20:56.480
or there's any kind of strange stuff
like that, they simply won't pay it.

268
00:20:57.119 --> 00:21:03.720
Now. Candae is the daughter in
law, and she's on the phone

269
00:21:03.799 --> 00:21:08.200
right now, so I'll wait on
these questions for our estate planning attorney.

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00:21:08.279 --> 00:21:11.119
Yeah, I'm dying to hear what
they're telling her at So, Candice,

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00:21:11.519 --> 00:21:17.119
I'm glad we're talking directly to you. I want to ask I want to

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00:21:17.119 --> 00:21:22.160
ask a few questions. Did you
how long have you How long have you

273
00:21:22.240 --> 00:21:27.240
had this account with draftings? I've
heard it since twenty twenty two, so

274
00:21:27.279 --> 00:21:33.799
about two years. And you never
had a problem before this? No,

275
00:21:34.039 --> 00:21:40.119
I actually did in twenty twenty two. I had this same problem. How

276
00:21:40.200 --> 00:21:45.960
did you work it out? So? I everything that I've tried to done

277
00:21:45.000 --> 00:21:48.839
so the first time I had to
send in they wanted my social they wanted

278
00:21:48.880 --> 00:21:52.319
a picture of my ID. They
wanted a picture of me with my ID.

279
00:21:53.400 --> 00:21:57.640
In twenty twenty two, that's all
I had to do. But recently,

280
00:21:57.720 --> 00:22:04.119
when I it's like thirty, they
were cashing me out two hours prior

281
00:22:04.839 --> 00:22:08.000
and then all of a sudden they
put my account on hold. I said,

282
00:22:08.000 --> 00:22:14.000
I needed to prove my identity.
No, Candice, help me out

283
00:22:14.039 --> 00:22:17.279
here. Just wait a second.
When you said they were cashing you out.

284
00:22:18.000 --> 00:22:22.599
Under normal circumstances, when you place
a bet and you win, doesn't

285
00:22:22.680 --> 00:22:27.599
the money automatically go into some online
account with them or not. So yeah,

286
00:22:27.640 --> 00:22:33.319
it it goes back onto your betting
account, and then you can go

287
00:22:33.440 --> 00:22:36.920
in and you can cash it out
into your bank account. That's okay,

288
00:22:36.960 --> 00:22:40.839
that's what I thought. So what
I want to ask is can you get

289
00:22:40.839 --> 00:22:45.559
into your account right now and make
a bet? No? Okay, that's

290
00:22:45.559 --> 00:22:52.359
what I thought. So they suspended
your account. Yes, okay. Why

291
00:22:52.400 --> 00:22:56.880
do you think they do this?
It's because they think fraud is going on.

292
00:22:59.799 --> 00:23:03.119
I think that's what it is.
They just keep asking me to prove

293
00:23:03.200 --> 00:23:06.319
my identity. So I send it
a picture of me and my ID,

294
00:23:06.559 --> 00:23:11.279
my ID, my social I've even
sent them baked statements proving that this is

295
00:23:11.359 --> 00:23:15.559
my bank, this is where the
money came out of. I don't,

296
00:23:15.799 --> 00:23:18.000
And it's just it. I always
just get the same reply where they want

297
00:23:18.000 --> 00:23:22.079
me to send it again, or
they'll want and tell them the last time

298
00:23:22.240 --> 00:23:25.400
this happened to you, The last
time it happened to you, Was it

299
00:23:25.480 --> 00:23:29.880
specifically with a bigger bet that you
won or was it a smaller one?

300
00:23:29.920 --> 00:23:33.240
What was it? It was a
smaller bet the first time? Really?

301
00:23:33.519 --> 00:23:38.720
And then how many bets since the
first time before they asked for ID again

302
00:23:38.839 --> 00:23:45.359
this second time? How many bets
in between? Problem? Fifty? And

303
00:23:45.400 --> 00:23:49.799
you never had a problem. No, I never had a problem until that.

304
00:23:51.200 --> 00:23:55.240
It's like thirteen sixty eight. I
think that they won't let me cash

305
00:23:55.279 --> 00:23:59.640
out, and I've tried to contact
my bank to go like around it.

306
00:24:00.240 --> 00:24:03.319
I've tried to contact them, I've
sent them every piece of information that I

307
00:24:03.480 --> 00:24:08.640
possibly can to prove my identity,
and they just keep blowing me off.

308
00:24:10.799 --> 00:24:15.079
Well are they not communicating at all
anymore? Oh? No, they're not

309
00:24:15.160 --> 00:24:18.079
at all anymore. And this has
been going on for about six months now.

310
00:24:18.279 --> 00:24:23.920
And there's also no actual way to
talk to a physical person it's just

311
00:24:25.000 --> 00:24:30.000
an automated email response. Man,
this is frustrating as hell. Wow,

312
00:24:30.079 --> 00:24:37.319
yeah, where are they located?
Do you know? I have no idea.

313
00:24:37.559 --> 00:24:41.400
I bet if we googled it we
might be able to find out.

314
00:24:41.680 --> 00:24:45.559
Okay, I was just curious.
So you don't have a person or a

315
00:24:45.640 --> 00:24:49.079
number we could call. No,
And when you go on the Draft Kings

316
00:24:49.119 --> 00:24:52.759
app and like push contacts us,
it only sends you their email, and

317
00:24:52.799 --> 00:24:57.759
that email only responds with an automated
response. And you have never won the

318
00:24:57.880 --> 00:25:03.400
last time around you did this.
You never talked to anyone. Nope,

319
00:25:03.640 --> 00:25:07.759
I never talked to anybody. The
only the only betting site I've ever been

320
00:25:07.799 --> 00:25:15.200
able to talk to somebody on is
sports Set. You know. That's that's

321
00:25:15.319 --> 00:25:18.960
kind of weird. I mean,
you know, but this is the trend

322
00:25:19.000 --> 00:25:26.079
nowadays. So did you call eight
seven seven? This is what I looked

323
00:25:26.079 --> 00:25:33.119
this up. Did you call eight
seven seven four three five? Well,

324
00:25:33.359 --> 00:25:38.799
actually it spells out something eight seven
seven four the number four Draft Kings.

325
00:25:40.240 --> 00:25:44.839
Have you done that? Yes?
I have? And when you call there,

326
00:25:44.920 --> 00:25:49.440
what do you get? You get
an automated like response system that tells

327
00:25:49.440 --> 00:25:56.160
you to contact the email address.
Did you so? You wrote support at

328
00:25:56.279 --> 00:26:04.880
draft kings dot com. Yes,
and you got nothing. And then I

329
00:26:04.920 --> 00:26:10.599
get an automated response that says,
we need your account has been suspended.

330
00:26:10.880 --> 00:26:14.759
We need to prove your identity.
Please send in the following information, a

331
00:26:14.799 --> 00:26:18.119
bank statement for this month, a
picture with you and your and your state

332
00:26:18.279 --> 00:26:22.880
ID, and a copy of your
Social Security cards. And you did all

333
00:26:22.920 --> 00:26:30.079
of that, and I've multiple times
I have done all of that. Wow,

334
00:26:33.960 --> 00:26:37.440
Wow, Mark, what would you
do? I'd probably take them to

335
00:26:37.480 --> 00:26:41.039
court. But I still think we're
missing something. I don't know what is

336
00:26:41.119 --> 00:26:47.039
the bank account you're trying to transfer
into. Is that in your name?

337
00:26:48.599 --> 00:26:52.920
Yes, my name and my name
only. It's not a shared account with

338
00:26:52.960 --> 00:26:56.640
my husband. It's only mine.
Is it located in Boston? That money

339
00:26:56.759 --> 00:27:02.960
still in the account? Yes,
the money is still sitting in my draft

340
00:27:03.039 --> 00:27:06.119
Kings account. I just can't do
I can't place the bet with it.

341
00:27:06.200 --> 00:27:08.920
I can't pull it. You just
can you log on right now to your

342
00:27:10.039 --> 00:27:15.319
your account? Yes? And when
you log on, you can't do anything.

343
00:27:17.119 --> 00:27:21.240
I can't do anything. I can
just see like their basic loading page.

344
00:27:21.440 --> 00:27:22.720
When you log in, it'll give
you like a home screen. I

345
00:27:22.720 --> 00:27:26.960
can see that. But if I
try to make a bet or hit withdraw.

346
00:27:26.000 --> 00:27:33.960
It'll tell me accounts suspended. Please
contact draft Kings at draft King Support

347
00:27:34.440 --> 00:27:45.720
a draft King dot z ndsk dot
com. Okay, I don't, Mark,

348
00:27:45.119 --> 00:27:48.240
I think, honest to god,
you would do small planes court.

349
00:27:48.279 --> 00:27:51.920
But I wonder if they don't have
an agent or do have an agent?

350
00:27:52.279 --> 00:27:53.880
Oh, I'm sure they do.
I would think so for sure, Yes

351
00:27:53.960 --> 00:27:59.440
they do. Let's see, I'm
looking it up on the state. Okay,

352
00:27:59.599 --> 00:28:04.559
Listen, they have to have one
due to the registration in Colorado from

353
00:28:04.599 --> 00:28:12.799
the Gaming Control Commission. So you
need to look up their registered agent at

354
00:28:12.839 --> 00:28:17.519
the Secretary of State's office. Do
you know how to do that and what

355
00:28:17.559 --> 00:28:19.359
you do? Let me explain what
you can do. You can just take

356
00:28:19.400 --> 00:28:25.359
in the small claims court for breach
of contract for the money. I mean,

357
00:28:25.440 --> 00:28:27.079
you have all of the copies you
send to them, you have the

358
00:28:27.119 --> 00:28:30.720
string of emails. I think you
have everything you have, and I don't

359
00:28:30.759 --> 00:28:34.640
think I think if anything that will
get their attention. You know, when

360
00:28:34.680 --> 00:28:37.519
Mark first started doing sport, you
know, I did small claims court for

361
00:28:37.559 --> 00:28:42.440
all kinds of little stuff, but
I never thought of a big corporation,

362
00:28:42.640 --> 00:28:48.240
right, So Mark did this.
I forget the first time he did the

363
00:28:48.240 --> 00:28:52.440
big corporation, but he found the
registered agent. And in every single case,

364
00:28:52.480 --> 00:28:56.599
I believe Mark, they called to
settle in every single case, right,

365
00:28:56.039 --> 00:29:03.039
everyone, every single one, and
he found magic. So what we're

366
00:29:03.079 --> 00:29:07.519
telling you is not to put you
off if you listed, right, I

367
00:29:07.599 --> 00:29:10.200
just found him on the Secretary of
State. I mean they're good. I

368
00:29:10.240 --> 00:29:12.440
was looking it up too, so
thanks. Just so you who is the

369
00:29:12.480 --> 00:29:18.640
registered agent. It's CT Corporation.
I've served those guys ten times. Easy.

370
00:29:19.920 --> 00:29:25.480
That's a professional registered agent. Yeah, exactly. I mean this one's

371
00:29:25.519 --> 00:29:29.920
a slam dunk man. The abandon
I don't know is the I don't know

372
00:29:29.920 --> 00:29:33.119
how like if anyway the Gaming Commission
it's involved in this. But I don't

373
00:29:33.119 --> 00:29:37.599
think it matters if you can't call
up and talk to him. This will

374
00:29:37.640 --> 00:29:41.599
at least get you a conversation,
no doubt. That's right. That's right,

375
00:29:42.000 --> 00:29:47.720
Okay, I'm I go about looking
at that is it? Just like

376
00:29:47.799 --> 00:29:52.160
easy on Google? Just give her
mark, do you have the enuugh that

377
00:29:52.279 --> 00:29:53.920
the address and the name you can
just give you just now. All you

378
00:29:55.000 --> 00:30:00.799
do is google Colorado Space so os
and then you go to the Secretary of

379
00:30:00.839 --> 00:30:04.240
State's website. It'll be the first
up and then you hit find a business,

380
00:30:04.279 --> 00:30:11.480
and then you type in DraftKings and
you'll see DraftKings Inc. Okay,

381
00:30:12.640 --> 00:30:17.480
and then you look for the and
then it'll have the name of the registered

382
00:30:17.519 --> 00:30:23.839
agent. Now that many of these
companies have registered agents that are professional registered

383
00:30:23.839 --> 00:30:27.920
agents for many companies, but you
can still serve them. Do I owe

384
00:30:27.920 --> 00:30:30.960
you a brake? Shanon? Am
I late? Okay? More? Coming

385
00:30:32.079 --> 00:30:41.200
right up? Go with a sure
thing Denver's Best roofer Excel Roofing dot com.

386
00:30:41.240 --> 00:30:48.079
You don't pay a cent until you're
content. Time for an insurance checkup

387
00:30:48.119 --> 00:30:52.599
free no obligation comparison call Compass Insurance
paying too much your coverage at dozens of

388
00:30:52.640 --> 00:30:56.200
insurance companies find out now three all
three seven to seven to one help.

389
00:30:56.400 --> 00:31:00.160
You'll think you're his only customer when
you choose Frame durand the real estate Man

390
00:31:00.240 --> 00:31:04.680
dot com to list your home with
Remax Alliance three oh three nine two zero

391
00:31:04.839 --> 00:31:15.720
sixteen twenty two. Hi Tom Martino
here three oh three seven one three Talk

392
00:31:15.799 --> 00:31:23.440
Deputy Doc. You have a comment
on candace situation. What is it she

393
00:31:23.519 --> 00:31:27.759
has to do? Tom is called
the Colorado Gaming Commission. They are like

394
00:31:27.880 --> 00:31:33.039
bulldogs they will go after the DraftKings, and if they put me a license

395
00:31:33.079 --> 00:31:40.519
to Colorado, I guarantee that she
will get action very quickly. Really,

396
00:31:40.960 --> 00:31:45.960
hey, Candace, did you hear
that the uh Colorado Gaming Commission? Did

397
00:31:45.000 --> 00:31:48.359
you put a commitment? Is she
still on, by the way or not?

398
00:31:49.880 --> 00:31:55.839
Is she all right? Maybe she's
still listening or we're gonna tell her?

399
00:31:55.839 --> 00:32:00.359
Thanks Doc? Have you really they
do listen to complaints? Oh?

400
00:32:00.400 --> 00:32:07.640
Absolutely, I mean even minor complaints
from like from the casinos, they investigated

401
00:32:07.640 --> 00:32:13.119
pretty quickly. They're very, very
conservative when it comes to following all the

402
00:32:13.200 --> 00:32:19.119
rules. Thank you, doc.
That's deputy Doc. And I don't know.

403
00:32:19.200 --> 00:32:22.519
I think he's gambles now. And
then hey, Steve, you have

404
00:32:22.559 --> 00:32:30.519
an HOA issue? What's going on? Did he just get disconnected there?

405
00:32:34.440 --> 00:32:40.680
He's not on? Okay, So
we're going to come back with our state

406
00:32:40.720 --> 00:32:45.720
planning attorney with questions like what do
you do when you inherit a bunch of

407
00:32:45.720 --> 00:32:51.119
stock accounts? Do you liquidate?
How do you liquidate? Where the tax

408
00:32:51.240 --> 00:32:53.960
is paid? How are they paid? Also, somebody wants to know about

409
00:32:54.000 --> 00:33:00.519
airs. Are they automatically equal if
not specified? Or can they be spified?

410
00:33:00.720 --> 00:33:04.640
Hmmm? That and more coming up
on the Troubleshooter Show. I'm Tom

411
00:33:04.680 --> 00:33:13.240
Martino. Get your calls in three
oh three seven one three talk. Go

412
00:33:13.400 --> 00:33:16.640
with a sure thing Denver's best roofer
Excel Roofing dot com. You don't pay

413
00:33:16.640 --> 00:33:23.440
a cent until you're content. Time
for an insurance check up free, no

414
00:33:23.519 --> 00:33:30.480
obligation comparison call Compass Insurance paying too
much your coverage at dozens of insurance companies

415
00:33:30.559 --> 00:33:34.000
find out now three oh three seven
seven to one help. You'll think you're

416
00:33:34.000 --> 00:33:37.920
his only customer when you choose Frank
durand the real estate Man dot com to

417
00:33:37.000 --> 00:33:42.720
list your home with Remax Alliance three
oh three nine two zero sixteen twenty two

418
00:33:47.599 --> 00:34:02.359
rift need So you don't have a
cam's gonna help? Come man, this

419
00:34:04.039 --> 00:34:08.599
is the Troubleshooter Show. No Tom
Martine. Hey, I'm Tom Martino.

420
00:34:08.760 --> 00:34:12.880
Welcome to the show. Three oh
three seven one three talk seven one three

421
00:34:12.960 --> 00:34:16.840
eight two five five. So a
very interesting question we got for our estate

422
00:34:16.880 --> 00:34:22.079
planning attorney, Dan Mackenzie. Then
I'll go to the phones. Our number

423
00:34:22.440 --> 00:34:24.480
three oh three Martino, by the
way, is a good number because if

424
00:34:24.519 --> 00:34:29.320
you don't get right through, and
you probably will. While we're on the

425
00:34:29.360 --> 00:34:31.440
air. If you don't though,
if it's after the show or at night,

426
00:34:31.760 --> 00:34:37.079
we will call you back. Our
promise to you really three oh three

427
00:34:37.639 --> 00:34:40.199
six two seven eight four sixty six. We believe in access now. Dan

428
00:34:40.280 --> 00:34:44.960
McKenzie attorney at lawn my referral list
refer list dot com. He does estate

429
00:34:45.039 --> 00:34:49.159
planning and all of those issues.
And this is a very interesting question when

430
00:34:49.239 --> 00:34:53.519
it comes to airs. Is it
assumed they all are equal if not mentioned

431
00:34:53.679 --> 00:35:00.360
in the will? Like that's that's
a very interesting topic. Like for example,

432
00:35:00.400 --> 00:35:02.199
a house, are they equal?
Uh? Stock account? Are they

433
00:35:02.239 --> 00:35:05.760
equal? Bank accounts? Are they
equal? Whatever they're on? Are they

434
00:35:05.800 --> 00:35:09.480
equal? Yeah? Yes, yeah. If it's not stated, then yes,

435
00:35:09.559 --> 00:35:14.039
it will be assumed equal shares yeap, So we can add you know,

436
00:35:14.199 --> 00:35:15.599
you can own a house as tenants
in common. So that's like you

437
00:35:15.679 --> 00:35:20.039
each owned separate shares that house.
If you can specify in the deed,

438
00:35:20.119 --> 00:35:22.920
this parents known seventy, this person
owns thirty. But if you don't say

439
00:35:22.920 --> 00:35:24.519
anything, it's going to be assumed
that's fifty to fifty. But you can

440
00:35:24.679 --> 00:35:28.760
dole out percentages. That's interesting,
you can, but then you don't own

441
00:35:28.800 --> 00:35:30.679
it jointly anymore, meaning that if
one of you passes away. No,

442
00:35:30.760 --> 00:35:34.199
no, I don't mean you and
your wife, I mean your heirs.

443
00:35:34.280 --> 00:35:37.679
Can you say this person gets this
air gets thirty percent, this air gets

444
00:35:37.760 --> 00:35:40.880
seventy percent. And we're talking about
a specific asset, yes, like a

445
00:35:42.000 --> 00:35:46.119
house or a car or a piece
of art. Can you dole out percentages?

446
00:35:47.320 --> 00:35:52.519
Yeah? Yes, but the result
will be a tenants in common ownership.

447
00:35:52.679 --> 00:35:55.320
So again, that just means you
all own separate shares, and that's

448
00:35:55.360 --> 00:35:58.639
probably what you want frankly, but
yes, you could do it. Okay,

449
00:35:58.840 --> 00:36:01.760
So what is the fault? The
estate is in a lump sum and

450
00:36:01.840 --> 00:36:05.800
everybody divides it up? Yeah?
Usually, I mean most, I mean

451
00:36:05.880 --> 00:36:09.280
like the intestate laws are certainly very
vague about that. Most estate plans are

452
00:36:09.360 --> 00:36:13.239
kind of like, here's the percentage
of the overall estate that we're giving it

453
00:36:13.320 --> 00:36:20.440
people. Usually it's equal. And
we've had cases where they will inherit a

454
00:36:20.519 --> 00:36:23.400
house some siblings, right, yeah, two of them want to sell,

455
00:36:23.440 --> 00:36:29.519
two of them don't like it.
Can you specify in a will? And

456
00:36:29.880 --> 00:36:31.960
maybe people should? And I don't
know how you handle this. How do

457
00:36:32.159 --> 00:36:37.280
you handle that? Should they specify
not only the asset but what to be

458
00:36:37.360 --> 00:36:39.320
done with it? You gotta be
really careful with specific gifts. I tell

459
00:36:39.360 --> 00:36:43.280
people like, it's nice to have
specificity because it lowers the chance you're going

460
00:36:43.320 --> 00:36:45.480
to argue over who gets the right
house. That On the other hand,

461
00:36:45.599 --> 00:36:49.679
you have stuff like this where it's
like unintended consequences where exactly what you just

462
00:36:49.760 --> 00:36:53.320
say, so so is it?
Then? Can you say the house will

463
00:36:53.360 --> 00:36:59.000
be dealt with in this way?
Possibly? I mean, you know,

464
00:36:59.119 --> 00:37:01.639
there's there's limits. It's to you
know, what's going to happen is probably

465
00:37:01.719 --> 00:37:04.920
one of the people who wants to
sell, for example, it's going to

466
00:37:04.960 --> 00:37:07.000
go on the court and ask for
it to partition it. And then it's

467
00:37:07.320 --> 00:37:09.440
that's basically a force because here's why. We had one case where a guy

468
00:37:09.599 --> 00:37:15.480
specified that he wanted this house a
vacation home kept in the family and and

469
00:37:15.679 --> 00:37:17.159
and three of the kids said yea, well that's cool, and the other

470
00:37:17.199 --> 00:37:21.400
one says no, yeah, I
mean I want to be bought out.

471
00:37:21.480 --> 00:37:27.559
I mean, can you actually can
someone deceased actually dictate that? Now?

472
00:37:27.840 --> 00:37:30.039
I mean, that's what trust planning
is for. And then you've got to

473
00:37:30.119 --> 00:37:32.920
have some mechanism in there to cover
all the HOA fees and taxes and insurance.

474
00:37:32.960 --> 00:37:37.480
I mean, is this kid gonna
It's not that easy to control an

475
00:37:37.519 --> 00:37:40.400
asset after death. You got to
be very careful about that. Yeah,

476
00:37:40.559 --> 00:37:45.199
because all that stuff I just mentioned, and you could be hoodwinking someone or

477
00:37:45.039 --> 00:37:50.760
should I say, straddling them with
an obligation. Yeah, and we're not

478
00:37:50.800 --> 00:37:52.199
going to do that, right,
Yeah, so that kid's not course to

479
00:37:52.239 --> 00:37:58.159
bail that. Let's say there is
a provision in a trust or in a

480
00:37:58.239 --> 00:38:02.079
will. Can the majority or all
errors if they're in unison, if they're

481
00:38:02.119 --> 00:38:06.840
in agreement, can they have it
changed even though the deceased wanted this.

482
00:38:07.480 --> 00:38:09.159
Can they say, listen, we're
the errors. We don't want to keep

483
00:38:09.199 --> 00:38:13.000
the house. We all want to
sell it. There is a mechanism for

484
00:38:13.079 --> 00:38:17.000
a private agreement among errors and beneficiaries
where that can supersed or not. Well,

485
00:38:17.119 --> 00:38:22.840
yeah, it is a supersede supersession
of the decedent's request. No,

486
00:38:23.320 --> 00:38:28.000
yes, but you'll have to look
and see because there might be future beneficiaries

487
00:38:28.000 --> 00:38:30.920
we're going to lose out on likeationing
got in this house too, right,

488
00:38:30.039 --> 00:38:35.480
so they might have to sign.
So it's tricky. Oh wow, that's

489
00:38:35.519 --> 00:38:38.480
why you have a a three to
three seal plan. Steve, let's talk

490
00:38:38.559 --> 00:38:45.719
man about this HOA. What's going
on? So the hailstorm that happened in

491
00:38:45.800 --> 00:38:52.280
Aurora last summer, Yeah, significant
damage to the condo that I live in.

492
00:38:53.440 --> 00:38:59.119
Yeah, and there's three other units
that are attached to this one building

493
00:38:59.159 --> 00:39:01.159
that we all live in. So
is it a townhom or a condo?

494
00:39:02.440 --> 00:39:06.920
So there's three town homes and then
the condo sits on top of the car

495
00:39:07.079 --> 00:39:10.519
port that I live in. Oh
but okay, but they're all condominiumized,

496
00:39:10.639 --> 00:39:17.719
meaning it's one building with four units. Correct. Okay? Now was that

497
00:39:17.880 --> 00:39:22.039
the only building in this whole subdivision? Or are there several buildings like that?

498
00:39:23.440 --> 00:39:30.880
There are several buildings and they'll receive
damage, okay, and and there

499
00:39:30.039 --> 00:39:37.039
and okay, got it? So
now what's going on? So now the

500
00:39:37.440 --> 00:39:44.400
HA is wanting to replace the roofs
and prepare them. Sure, and there's

501
00:39:44.480 --> 00:39:51.719
a nine thousand dollars deductible for each
owner of each unit. Well, it's

502
00:39:51.800 --> 00:39:55.800
either a deductible or it's an appraise. Accuse me, it's an assessment.

503
00:39:57.280 --> 00:40:00.000
It really doesn't matter what they call
it. But you what they're saying is

504
00:40:00.639 --> 00:40:07.559
insurance won't cover that amount. Correct. Okay, So then what so then

505
00:40:07.719 --> 00:40:14.519
I reported that to my insurance.
Right, they say that I have an

506
00:40:14.800 --> 00:40:21.800
outdated plan. You do not have
what they call you do not have loss

507
00:40:21.960 --> 00:40:29.519
assessment. Do you know what loss
assessment coverage is? I'm sorry kind of

508
00:40:29.920 --> 00:40:34.599
say that anything. They say you
have an old plan, which probably means

509
00:40:35.159 --> 00:40:42.280
you don't have lost damage assessment.
Loss damage assessment is very simply this.

510
00:40:43.159 --> 00:40:47.599
It covers you for assessments for insurance
losses only, by the way, not

511
00:40:47.800 --> 00:40:52.280
just it Like if there's an assessment
to fix the pool or the parking lot

512
00:40:52.480 --> 00:40:57.440
or anything like that, or landscaping, it won't cover it. But if

513
00:40:57.480 --> 00:41:04.039
there's an insurance loss, they do
have certain coverages that go up to a

514
00:41:04.159 --> 00:41:09.000
certain amount depending on the policy.
You can get a policy that covers pretty

515
00:41:09.079 --> 00:41:14.119
damn big assessments, or you can
get a policy that caps off at two

516
00:41:14.239 --> 00:41:17.480
grand, so you don't have that. The bottom line, though you don't

517
00:41:17.519 --> 00:41:22.039
have that coverage. Is that correct, Steve? And so this is where

518
00:41:22.039 --> 00:41:28.239
it gets confusing, because they said
that I do have loss assessment, but

519
00:41:28.519 --> 00:41:35.039
not because it's under the deductible for
an Okay, hold on, hold on,

520
00:41:35.199 --> 00:41:37.599
we got to talk about that.
Let's get compass insurance on here's what

521
00:41:37.719 --> 00:41:42.760
I think they're saying. Some I
believe. Now we're going to ask We're

522
00:41:42.760 --> 00:41:45.239
going to ask Compass unless Mark you
remember this. I don't know, but

523
00:41:46.000 --> 00:41:52.360
we talked about this once before,
and that is lost damage assessments will cover

524
00:41:52.639 --> 00:42:02.039
certain assessments but not necessarily deductibles,
or they covered deductibles but not shortages.

525
00:42:02.079 --> 00:42:06.760
I don't know something like that.
I'm going to have to get our insurance

526
00:42:06.840 --> 00:42:10.440
expert at Compass Insurance Group on and
by the way, we'll have them on.

527
00:42:10.559 --> 00:42:14.760
They do that insurance checkup. So
hold on, let's get Compass on

528
00:42:14.960 --> 00:42:17.800
Kachina and see what we can do
for that. Steve, this is important,

529
00:42:17.880 --> 00:42:22.239
so we'll get you an answer for
this. Three zero three seven to

530
00:42:22.320 --> 00:42:25.079
one three talks seven one, three, eight two five five. We also

531
00:42:25.119 --> 00:42:31.199
have McKenzie law Dan McKenzie, and
we were talking about airs and some of

532
00:42:31.320 --> 00:42:36.199
the One of the reasons you would
want a trust rather than a simple will

533
00:42:36.199 --> 00:42:40.920
because you can have more specificity and
terms and conditions. But I want to

534
00:42:40.960 --> 00:42:45.079
ask them another way. I heard
about doing it, and it might be

535
00:42:45.159 --> 00:42:47.800
a tricky way, but I don't
know. Uh. Someone once said,

536
00:42:47.880 --> 00:42:53.280
well, my dad put things in
an LLC and the ownership was left to

537
00:42:53.360 --> 00:42:58.000
the kids in certain percentages. We'll
talk about that and more coming up on

538
00:42:58.079 --> 00:43:07.280
the Troubleshooter Show. Go with a
sure thing Denver's Best roofer Excel Roofing dot

539
00:43:07.400 --> 00:43:15.039
com. You don't pay a cent
until you're contents. Time for an insurance

540
00:43:15.159 --> 00:43:20.599
check up free no obligation comparison call
Compass Insurance paying too much your coverage at

541
00:43:20.639 --> 00:43:23.320
dozens of insurance companies find out now
three oh three seven to seven to one.

542
00:43:23.440 --> 00:43:27.920
Help. You'll think you're his only
customer when you choose Frank durand the

543
00:43:28.000 --> 00:43:31.480
real estate Man dot com to list
your home with Remax Alliance three oh three

544
00:43:31.599 --> 00:43:38.159
nine two zero sixteen twenty two.
Hey, I'm Tom Martino. You're Troubleshooter

545
00:43:38.280 --> 00:43:43.519
three oh three seven one three talk
seven one three eight two five to five.

546
00:43:43.920 --> 00:43:46.800
I have Jeremy Terzio with us from
the Insurance Health Center. Are actually

547
00:43:46.880 --> 00:43:51.400
Compass Insurance group. We call it
the Insurance Health Center dot com because what

548
00:43:51.519 --> 00:43:55.760
they do is the insurance comparisons to
make sure you're not paying too much,

549
00:43:57.239 --> 00:44:00.440
to make sure you're not under insured, or to make sure you're not over

550
00:44:00.519 --> 00:44:04.239
insured, you know, just to
make sure it fits you, and again

551
00:44:04.320 --> 00:44:07.599
that's free of charge at three oh
three nine nine six nine thousand. Jeremy,

552
00:44:07.159 --> 00:44:10.840
Now listen, Jeremy. This guy
says that he has an older policy

553
00:44:12.519 --> 00:44:15.920
he was slapped with an assessment.
But there's a weird difference here. He

554
00:44:16.079 --> 00:44:22.920
is saying that his assessment coverage that
he has will not cover what is it?

555
00:44:23.119 --> 00:44:30.679
Steve? Explain that it will cover
something but not the deductible? Is

556
00:44:30.760 --> 00:44:37.960
that what you said, Steve?
Are you there, Steve? Yes,

557
00:44:37.039 --> 00:44:44.079
I'm here. Go ahead. So
the way I understand is that it will

558
00:44:44.159 --> 00:44:50.519
not cover the deductible for the insurance
claim through the age away. But what

559
00:44:51.280 --> 00:44:58.679
will it cover? What will it
cover? I didn't okay, Jeremy is

560
00:44:58.760 --> 00:45:02.719
there, Jeremy, can you so
if you have loss assessment coverage and tell

561
00:45:02.800 --> 00:45:08.119
me the limitations or exclusions under that? Sure? Well, there are so

562
00:45:08.440 --> 00:45:12.880
none of our companies do this,
but there are a few companies out there

563
00:45:13.719 --> 00:45:19.679
that will not pay the loss assessment
if it's purely to share in the master

564
00:45:19.960 --> 00:45:24.840
hoas deductible, which is really silly
because that's ninety nine percent of what you're

565
00:45:24.880 --> 00:45:28.599
going to get assessed for it,
And what will they cover? Then?

566
00:45:28.639 --> 00:45:32.800
I don't understand if they won't cover
the deductible portion. What will they cover

567
00:45:34.000 --> 00:45:39.599
in those circumstances. You're correct,
because you're all loss assessment policies or coverage

568
00:45:40.320 --> 00:45:45.760
is only going to cover damage from
a covered peril, so hail wind fire,

569
00:45:46.480 --> 00:45:49.360
right. You know, if you
get a notice in the mail and

570
00:45:49.480 --> 00:45:52.800
says, hey, we're getting a
new clubhouse and you get an assessment,

571
00:45:52.920 --> 00:45:54.920
your your insurance isn't going to cover
that, just like if you were going

572
00:45:55.000 --> 00:45:59.760
to do something and upgrade to your
own home. So that's just it.

573
00:46:00.039 --> 00:46:05.719
It's always going to be something that
comes from a cover insurance claim, which

574
00:46:05.800 --> 00:46:10.960
is what the HOA policy's covering because
they're ensuring all the shared common own property

575
00:46:12.320 --> 00:46:15.519
and then they assess that deductible.
So, I mean, the only example

576
00:46:15.599 --> 00:46:21.039
would be if there was damage,
let's say at Hell damage and the HOA

577
00:46:21.199 --> 00:46:28.360
decided it wasn't enough damage to file
with their master HOA policy. They were

578
00:46:28.480 --> 00:46:34.480
just assessing the damage amounts. So
it's a useless coverage base. It's a

579
00:46:34.639 --> 00:46:39.519
useless coverage if you don't have it
cover the deductible correct. Yeah, And

580
00:46:42.159 --> 00:46:45.840
we at one point had a couple
companies that tried to go to that limitation,

581
00:46:46.119 --> 00:46:51.039
but they backed off of it.
But yeah, you need to make

582
00:46:51.119 --> 00:46:59.039
sure that your HO six policies loss
assessment covers hoa deductible share. Hey,

583
00:46:59.159 --> 00:47:02.199
Steve, who is your carrier?
Your insurance carrier, not your agent,

584
00:47:02.320 --> 00:47:10.639
the carrier that it's all state?
Well okay, enough said. So you

585
00:47:10.960 --> 00:47:20.400
now are stuck with nine thousand dollars
in assessments because it's a deductible and and

586
00:47:20.599 --> 00:47:23.159
like you said, Jeremy, there
are very few circumstances when the shortfall.

587
00:47:24.360 --> 00:47:27.840
I mean, what else would it
have done? I mean, it's always

588
00:47:27.880 --> 00:47:30.440
going to be deductible, isn't it. I mean, what else unless,

589
00:47:30.559 --> 00:47:35.960
like you said, they decided to
self ensure, right, so, but

590
00:47:36.639 --> 00:47:39.280
everything else for it to be covered
at all, it has to be a

591
00:47:39.400 --> 00:47:43.400
covered pail from the pome. Well
we yeah, I understand that. Like

592
00:47:43.480 --> 00:47:45.480
if they want to pave the parking
lot and they assess you, right,

593
00:47:46.280 --> 00:47:51.280
that's not going to be covered.
Now I have a weird question, Jeremy,

594
00:47:51.719 --> 00:47:55.199
do they ever have a deductible of
the deductible So if you have lost

595
00:47:55.199 --> 00:48:00.920
assessment coverage and it goes up to
like you know, and it's for it's

596
00:48:00.960 --> 00:48:07.000
for everything, you know, everything
peril related. And let's say you're assessed

597
00:48:07.239 --> 00:48:12.519
ten grand, can your insurance company
make you pay a deductible of the deductible?

598
00:48:13.760 --> 00:48:17.760
Yeah, you have a deductible on
the loss assessment because they're not look

599
00:48:17.880 --> 00:48:22.360
I mean whether it's a shared deductible
or not, and most times it's going

600
00:48:22.440 --> 00:48:25.280
to be you have to look at
it from this is the insurance loss.

601
00:48:25.360 --> 00:48:30.519
If you have an HO six,
the unit owner's loss is whatever their assessment

602
00:48:30.639 --> 00:48:35.199
is. So you have a ten
thousand dollars loss assessment, you're still going

603
00:48:35.280 --> 00:48:42.239
to have your deductible that goes into
play for that, but you're only paying

604
00:48:42.320 --> 00:48:46.719
that one deductible because obviously the HOA
is collecting this money to pay that they're

605
00:48:46.800 --> 00:48:54.559
deductible. Does it surprise you that
all state doesn't cover deductibles. There's been

606
00:48:54.639 --> 00:49:00.239
a lot of back and forth with
insurance, the HO six policy, these

607
00:49:00.280 --> 00:49:05.000
and these master policies with that or
the hoas I should say, And to

608
00:49:05.199 --> 00:49:09.480
me, what's surprising is that companies
just don't charge what they need to charge

609
00:49:09.519 --> 00:49:14.400
for the risk. You know,
if you start putting in we're not going

610
00:49:14.440 --> 00:49:17.800
to cover for this scenario when it's
so likely that's going to be the scenario,

611
00:49:19.000 --> 00:49:22.559
it just it causes those types of
problems. I'd rather see companies just

612
00:49:22.760 --> 00:49:29.159
charge appropriately for what the real risk
is and not have people have to go

613
00:49:29.239 --> 00:49:31.679
to that level to try and figure
out Yeah, exactly, not have them

614
00:49:31.760 --> 00:49:37.719
surprised when they need it right right, Okay, by the way, thank

615
00:49:37.760 --> 00:49:39.599
you, And they do the insurance
check up at three h three nine nine

616
00:49:39.599 --> 00:49:45.480
to six, nine thousand and Steve
Man, this is going to be a

617
00:49:45.519 --> 00:49:50.760
real hardship. Did they give you
a payment plan of any kind? I

618
00:49:50.920 --> 00:49:59.360
have six months? Could they?
Well, then I would change my policy

619
00:49:59.400 --> 00:50:04.760
if iru. Yeah, I'm definitely
going to find a new insurance altogether.

620
00:50:05.920 --> 00:50:08.480
Yeah, and I suggest you call
Compass seriously. They can hook you up.

621
00:50:08.880 --> 00:50:14.159
They're a broker. They represent like
twenty five twenty six companies, and

622
00:50:14.280 --> 00:50:16.800
I'm sure they're going to find one. Definitely, get away from All State.

623
00:50:16.920 --> 00:50:22.079
Man three oh three seven to one
three talk Okay, Now I want

624
00:50:22.119 --> 00:50:23.920
to talk to Dan McKenzie, attorney
at law. I'm going to go back

625
00:50:23.960 --> 00:50:29.480
to our wide shot here. We
were talking about leaving a home, or

626
00:50:29.559 --> 00:50:31.960
leaving an asset, leaving art,
leaving and you know, and they all

627
00:50:32.119 --> 00:50:37.079
have presumably an equal share unless you
dole out percentages that can get messy.

628
00:50:37.639 --> 00:50:42.440
But what about and he said,
if you had a trust, it's easier

629
00:50:42.480 --> 00:50:45.199
to do. And with a trust
you can also dictate terms and conditions.

630
00:50:45.880 --> 00:50:51.960
What about people who believe that in
LLC, for example, they put something

631
00:50:52.599 --> 00:50:57.960
whatever it is, an asset into
an LLC, and when they leave that

632
00:50:58.079 --> 00:51:01.840
asset, they're actually leaving the l
the LLC that owns the asset. Is

633
00:51:01.920 --> 00:51:06.719
that a way of doing it,
and then that LLC can be run by

634
00:51:06.840 --> 00:51:10.280
the airs. Yeah, it's a
really great solution actually, because the problem

635
00:51:10.320 --> 00:51:15.559
with trust is that there's a trustee
in charge and the parties might change over

636
00:51:15.639 --> 00:51:19.239
time because kids start growing up and
they become interested in the property as well.

637
00:51:19.800 --> 00:51:23.320
An LLC lets you specify, you
create an operating agreement. You say,

638
00:51:23.400 --> 00:51:27.000
here's who has the membership of interest. Here who has the right to

639
00:51:27.400 --> 00:51:30.880
make major decisions and minor decisions about
the property. Here's how you buy someone

640
00:51:30.960 --> 00:51:35.000
out if they want to get out. You know all the stuff about it.

641
00:51:35.000 --> 00:51:38.119
But if you had the home liter
a home for example, in an

642
00:51:38.440 --> 00:51:43.840
LLC, and they were current owners
of the LLC before passing, they don't

643
00:51:43.840 --> 00:51:46.519
get the stepped up basis, then
you would get the stepped up basis in

644
00:51:46.559 --> 00:51:52.199
the LLC. The LLC would get
the stepped up the because that becomes the

645
00:51:52.599 --> 00:51:58.639
entity. Correct, so the members
would enjoy that stepped up basis. Oh,

646
00:52:00.159 --> 00:52:07.039
very interesting. Now we had another
question on stepped up basis and for

647
00:52:07.119 --> 00:52:10.800
those listening, what is a stepped
up basis? Well, it's to minimize

648
00:52:10.840 --> 00:52:15.760
tax. Really, what it's saying
is this, if somebody bought something at

649
00:52:15.800 --> 00:52:20.559
one hundred dollars and sold it at
one thousand dollars because it increased in value,

650
00:52:20.880 --> 00:52:24.639
that have a nine hundred dollars gain
right absence of any exclusions. Now,

651
00:52:27.159 --> 00:52:31.960
but if that one hundred dollars thing
you bought was left at death,

652
00:52:34.000 --> 00:52:37.719
some items get a stepped up basis, meaning the day of death it was

653
00:52:37.760 --> 00:52:42.440
worth a thousand, not one hundred
anymore. So the errors get it at

654
00:52:42.519 --> 00:52:45.960
a thousand dollars. That doesn't mean
they claim a thousand, It just means

655
00:52:46.400 --> 00:52:51.400
that's what their asset is worth.
So now if they sell it for a

656
00:52:51.559 --> 00:52:57.159
thousand because that's the current value,
they don't have a gain. Okay,

657
00:52:58.920 --> 00:53:04.239
what do you enjoy with stepped up
basis? Is it only a residence or

658
00:53:04.679 --> 00:53:07.000
do cars do? What gets a
stepped up basis? Yeah? Really,

659
00:53:07.079 --> 00:53:13.960
any stocks. Everything is valued on
the day of death, correct, So

660
00:53:14.519 --> 00:53:17.239
for stocks that could be upboard down, Yes, you can have a capital

661
00:53:17.280 --> 00:53:21.440
loss. The same with cars would
be down most likely unless it was a

662
00:53:21.519 --> 00:53:24.559
collectible. Yeah, usually don't kick
capital gainsing cars right right of course.

663
00:53:24.960 --> 00:53:30.440
So in essence, then you don't
inherit the basis of anything or are there

664
00:53:30.559 --> 00:53:37.920
certain assets where you would inherit a
basis if something was done like putting it

665
00:53:38.039 --> 00:53:43.239
into a eurovocal trust of some sort
to evade a state tax, then you

666
00:53:43.320 --> 00:53:45.679
can still you can lose that basis
step up. So there are certain thing

667
00:53:45.679 --> 00:53:49.480
and you can lose it if you
quit claimed it to somebody, if you

668
00:53:49.719 --> 00:53:53.039
quit claim it during lifetime, that's
possibly a lifetime gift and it depends on

669
00:53:53.079 --> 00:53:57.840
your intent, but you probably will
lose the basis. See, this is

670
00:53:57.920 --> 00:54:01.440
all very very interesting. Yeah,
and I love you're the first one actually

671
00:54:01.519 --> 00:54:06.360
that brought up that LLC idea.
It's a cool idea, I mean,

672
00:54:06.400 --> 00:54:08.679
it really is. I'm surprised more
people don't do it now. Obviously it

673
00:54:08.760 --> 00:54:13.159
doesn't take the place of a trust. So I'd like to go over when

674
00:54:13.280 --> 00:54:16.760
you would definitely want to trust When
could you get away with an LLC three

675
00:54:16.840 --> 00:54:30.280
oh three seven one three eight two
five five. Go with a sure thing

676
00:54:30.440 --> 00:54:34.840
Denver's best roofer Excel Roofing dot com. You don't pay a cent until you're

677
00:54:34.880 --> 00:54:40.800
content. Time for an insurance check
up free, no obligation. In comparison,

678
00:54:42.000 --> 00:54:45.840
call Compass Insurance paying too much your
coverage at dozens of insurance companies find

679
00:54:45.880 --> 00:54:50.039
out now three oh three seven to
seven to one help. You'll think you're

680
00:54:50.119 --> 00:54:52.960
his only customer when you choose Frank
Durand the real estate Man dot com to

681
00:54:53.079 --> 00:54:58.800
list your home with Remax Alliance three
oh three nine two zero sixteen twenty two.

682
00:55:05.840 --> 00:55:09.840
Hi, Tom Martino, your troubleshooter
three oz three seven one three talk

683
00:55:09.920 --> 00:55:16.039
seven one three eight two five five. Let's talk to Heather, who wants

684
00:55:16.079 --> 00:55:22.000
to talk about a car issue.
Buying a car mile high Honda? Was

685
00:55:22.039 --> 00:55:28.760
this new or used? Heather?
I purchased a new vehicle, a twenty

686
00:55:28.960 --> 00:55:31.719
new When did you buy it last
Monday? A week ago? Today?

687
00:55:34.039 --> 00:55:37.840
Bought a new vehicle? Okay,
well that should be a happy time.

688
00:55:37.920 --> 00:55:40.559
What did you buy exactly? It
should be a happy time. I bought

689
00:55:40.679 --> 00:55:46.480
twenty twenty four Honda Civic Sport Touring. They're wonderful. Wait a minute,

690
00:55:46.599 --> 00:55:51.760
you bought a new twenty twenty four. You bought a Honda. Where did

691
00:55:51.840 --> 00:55:57.400
you buy it? I am so
sad to say mile high Honda? Now

692
00:55:57.719 --> 00:56:00.079
what went What the hell went wrong? I means so far, like I

693
00:56:00.199 --> 00:56:05.719
said, Okay, what went wrong? What's going on? Well? I

694
00:56:05.760 --> 00:56:10.440
think the finance guy was, you
know, kind of misleading. While he

695
00:56:10.599 --> 00:56:14.559
was misleading, he told me that
I've only seen two people come in here

696
00:56:14.639 --> 00:56:17.599
with the last and within the last
month to get the deal that I was

697
00:56:17.679 --> 00:56:22.320
getting. It was supposed to be
like a six year warranty contract for like

698
00:56:22.559 --> 00:56:28.360
under one thousand dollars, like six
years maintenance free if my rooms got scratched.

699
00:56:28.360 --> 00:56:31.079
Oh you know, these they're called
FNI guys, Finance and Insurance.

700
00:56:31.639 --> 00:56:42.119
The FNI people, they're usually liars. Oh he was, he's a big

701
00:56:42.199 --> 00:56:45.840
time Let me tell you something.
It's called let me tell you what this

702
00:56:46.039 --> 00:56:53.360
is called packing a deal. Okay, Now, now let me explain something.

703
00:56:54.119 --> 00:57:00.360
Unless you're packing for insurance for vacation, that the packing is never a

704
00:57:00.440 --> 00:57:04.119
good idea. And what that means. It happens in real estate, it

705
00:57:04.159 --> 00:57:09.119
happens all over. Packing a deal
means adding stuff in and I'm telling you

706
00:57:09.880 --> 00:57:17.400
I met a person one time that
had their deal packed thousand dollars. But

707
00:57:19.400 --> 00:57:24.000
the good news is, when did
you buy this last Monday? You can

708
00:57:24.039 --> 00:57:29.480
get it. You can get that
stuff removed. Well, he removed like

709
00:57:30.480 --> 00:57:32.719
like four thousand dollars worth of stuff, but he wouldn't remove the gap,

710
00:57:32.760 --> 00:57:37.800
and he wouldn't remove the windshield coverage, which well, no, well that's

711
00:57:37.880 --> 00:57:40.440
too bad. Well no, no, no, because you didn't ask,

712
00:57:40.599 --> 00:57:45.599
You didn't ask forcefully enough. Well, they're being horrible. I went in

713
00:57:45.760 --> 00:57:50.639
person the next day and the finance
guy that dealt with how much there?

714
00:57:50.840 --> 00:57:53.440
How much total? How much total
pack did you have on the deal when

715
00:57:53.480 --> 00:57:58.360
you walked out the first time?
I think it was like after financing,

716
00:57:58.440 --> 00:58:00.199
like fifty two. But then now
I already have my phone. No,

717
00:58:00.320 --> 00:58:02.800
no, I don't want to know
about the finance charge. I want to

718
00:58:02.880 --> 00:58:08.480
know the actual purchase. Did you
trade a car? And I did,

719
00:58:08.599 --> 00:58:12.840
And that's what I'm waiting for.
They're telling me, I got an email

720
00:58:12.920 --> 00:58:15.880
this morning. I'm waiting for a
sixteen dollars check for a twenty nineteen Honda

721
00:58:15.960 --> 00:58:22.440
Civic Sport that I traded. Listen, I can't. I can't even imagine

722
00:58:22.480 --> 00:58:27.679
how screwed you were in this deal, because especially look if you trade in

723
00:58:27.760 --> 00:58:31.920
a car, and did you owe
on that trade four hundred and nine dollars.

724
00:58:32.360 --> 00:58:37.840
Yes, that's what you owed on
it, right, Yes, So

725
00:58:38.280 --> 00:58:44.039
what you should see clearly on your
buy order, Heather, is first the

726
00:58:44.199 --> 00:58:52.440
purchase price of the car you're buying. Second, the amount allowable for your

727
00:58:52.760 --> 00:58:57.960
car minus the payoff, so your
net equity, and that should come off

728
00:58:58.079 --> 00:59:02.519
the top. Then they should charge
you sales tax after that, and then

729
00:59:02.599 --> 00:59:08.639
all the packing. Is it clear
or not? Well, I have my

730
00:59:10.840 --> 00:59:15.639
auto, my hont of finance that
I because I had my twenty nineteen through

731
00:59:15.679 --> 00:59:19.880
there, so now I'm able to
look it up. I put in my

732
00:59:20.039 --> 00:59:22.239
vin so now I'm able to see
that I owe like forty two thousand on

733
00:59:22.519 --> 00:59:28.880
everything. Yeah, but that's not
my question. Do you have the original

734
00:59:29.079 --> 00:59:34.360
purchase agreement with what I just told
you, the purchase price, the trade

735
00:59:34.400 --> 00:59:37.920
and allowance and all of that.
Yeah, the purchase price was thirty one

736
00:59:38.039 --> 00:59:42.159
thousand, and then they brought it
up. You need to send me.

737
00:59:42.960 --> 00:59:50.559
You need to send me that one
page purchase agreement. Do you have it

738
00:59:50.639 --> 00:59:54.800
electronically? Do you have it?
I do I have it on the the

739
00:59:55.039 --> 01:00:00.920
FOB and I can print it.
Yes, you don't have to print it,

740
01:00:00.960 --> 01:00:02.519
but you can email it to us. I really want to see it,

741
01:00:02.599 --> 01:00:06.800
Heather, because it's not too late
to back out a lot of that

742
01:00:06.920 --> 01:00:09.239
stuff. It's not I don't care
what that FNI guy told you. He

743
01:00:09.360 --> 01:00:15.519
lied to you. You can back
out all of it. Yeah, it's

744
01:00:15.679 --> 01:00:19.000
it's been a miserable thing. And
then you know, get this is that

745
01:00:19.320 --> 01:00:22.920
is that really what you're calling You're
not calling about the product itself, you're

746
01:00:22.000 --> 01:00:28.239
calling about the packing. Well,
yeah, the whole deal. Plus I

747
01:00:28.400 --> 01:00:30.800
wanted I had snow tires on there
that I forgot about, and we also

748
01:00:30.920 --> 01:00:35.119
told him the next day we went
in. I was like, well I

749
01:00:35.239 --> 01:00:37.519
have snow tires on there, and
he's like, oh, they won't fit

750
01:00:37.639 --> 01:00:40.800
anyway, he lied about that,
So well hold on, but hold on.

751
01:00:42.320 --> 01:00:45.079
So but what were you going to
do? Put your regular tires on

752
01:00:45.159 --> 01:00:49.519
the trade? Yes, because I
had my all seasons at home which I

753
01:00:49.679 --> 01:00:52.760
took into them, and I'm waiting
for my snow tires, which they haven't

754
01:00:53.320 --> 01:00:57.360
contacted me, so they have my
we can we can help with that.

755
01:00:57.519 --> 01:01:00.960
We can help with Yeah, they're
hor and plus I need to see you

756
01:01:02.719 --> 01:01:06.559
mean to take them off, and
well, you know what, that's kind

757
01:01:06.599 --> 01:01:09.039
of on you, that part,
you know what I mean, You know

758
01:01:09.119 --> 01:01:12.400
what I mean. You could have
you should have been prepared for that.

759
01:01:12.599 --> 01:01:17.159
But I Heather, if you let
us look at that, if you let

760
01:01:17.239 --> 01:01:21.440
me look at that right as soon
as you can, we can talk to

761
01:01:21.480 --> 01:01:24.159
you today about it, because it's
not too late to do something about this.

762
01:01:24.559 --> 01:01:29.639
I'm really happy you called now,
as opposed to waiting a month because

763
01:01:29.679 --> 01:01:34.320
then it gets more difficult. So
so hold on, Kashina, have her

764
01:01:34.480 --> 01:01:39.639
email us that as soon as possible
that I just need the purchase agreement now.

765
01:01:39.679 --> 01:01:44.280
If she has her financing, that's
too. But I really want to

766
01:01:44.320 --> 01:01:50.599
see the purchase agreement and forward it
to Mark as well, because that's going

767
01:01:50.679 --> 01:01:53.039
to tell the story on how they
packed it and how bad it was,

768
01:01:53.840 --> 01:02:00.360
and maybe she even was charged on
the financing for credit life and disability and

769
01:02:00.400 --> 01:02:06.559
all of that. I hope not. I hope not. Let's find out

770
01:02:06.760 --> 01:02:15.880
right after this, go with a
sure thing Denver's Best roofer excel roofing dot

771
01:02:15.000 --> 01:02:22.639
com. You don't pay a cent
until you're content. Time for an insurance

772
01:02:22.760 --> 01:02:28.039
check up free no obligation comparison call
Compass Insurance. Pay too much your coverage

773
01:02:28.079 --> 01:02:30.719
at dozens of insurance companies find out
now three oh three seven to seven to

774
01:02:30.760 --> 01:02:35.480
one. Help. You'll think you're
his only customer when you choose Frank durand

775
01:02:35.480 --> 01:02:38.880
the real estate man dot com to
list your home with Remax Alliance three oh

776
01:02:38.960 --> 01:02:44.960
three nine two zero sixteen twenty two. Hi Tom Martino here, three oh

777
01:02:45.079 --> 01:02:49.199
three seven one three talk seven one
three eight two five five. All right,

778
01:02:49.440 --> 01:02:54.000
so Tom, you want to talk
about an issue with an insurance guy.

779
01:02:54.400 --> 01:03:04.079
What's going on? Tom com?
I've owned a warehouse in Fort Collins

780
01:03:04.199 --> 01:03:10.079
for thirty years. The last well
six years I was under lease with a

781
01:03:10.199 --> 01:03:17.679
cannabis grow operation. We were fully
insured with an insurance company that would ensure

782
01:03:17.760 --> 01:03:23.119
the cannabis grow. And now,
what do you mean ensure the cannabis grow?

783
01:03:23.280 --> 01:03:29.320
You mean if what does that mean? They would ensure my building knowing

784
01:03:29.400 --> 01:03:32.119
that it was being used for cannabis
growth. I got it, I got

785
01:03:32.199 --> 01:03:38.400
it, yep, okay, okay. So their lease was technically up December

786
01:03:38.519 --> 01:03:45.239
thirty one of twenty two. I
was back there in November of twenty two

787
01:03:45.639 --> 01:03:52.280
and didn't like what I saw and
they were starting their demo for moving out.

788
01:03:53.199 --> 01:03:59.159
Why didn't you like it? Why
didn't you like it? The tenant

789
01:03:59.280 --> 01:04:03.119
brought in a demo crew that didn't
know what they were doing. They only

790
01:04:03.280 --> 01:04:08.639
demoed partial of the building. And
what were they supposed wait wait, wait

791
01:04:08.639 --> 01:04:14.519
wait, what were they supposed to
do? Return the building in as good

792
01:04:14.719 --> 01:04:18.800
or better condition than received? So
did they move out voluntarily or were you

793
01:04:18.920 --> 01:04:24.239
evicting them or not renewing? Oh? They they were They're planned on moving

794
01:04:24.320 --> 01:04:27.719
out at the end of their lease, which was December thirty one of twenty

795
01:04:27.800 --> 01:04:32.679
two. Okay, when I got
there in November, I planned on meeting

796
01:04:32.760 --> 01:04:39.960
the backflow inspector and we found that
the back building the building was frozen solid,

797
01:04:40.800 --> 01:04:45.679
so the tenant wasn't maintaining the heat, and we had a bunch of

798
01:04:45.360 --> 01:04:50.559
damaged water fixtures, which so wait
a minute, so they were not they

799
01:04:50.599 --> 01:04:57.079
were not growing so at the end, So when did this freeze happen before

800
01:04:57.159 --> 01:05:01.719
the end of their lease? And
they chose not to make a claim on

801
01:05:01.840 --> 01:05:06.280
their insurance? Would be a which
would be a covered peril. And I've

802
01:05:06.320 --> 01:05:13.519
been an insurance adjuster for twenty seven
years. So tom so, Tom,

803
01:05:14.159 --> 01:05:19.480
you had the landlord insurance on this
right, right, Plus the tenant carried

804
01:05:19.519 --> 01:05:26.079
a building policy, got it?
And this happened back in twenty twenty two.

805
01:05:26.199 --> 01:05:32.400
You discovered all this, yes,
so keep going to make a long

806
01:05:32.480 --> 01:05:39.880
story short. They told me,
I brought in the city. I had

807
01:05:39.920 --> 01:05:45.559
a list of least non compliance items
that needed to be taken care before December

808
01:05:45.679 --> 01:05:49.679
thirty one. And I also brought
in the city to do a walk through

809
01:05:50.239 --> 01:05:56.480
to make sure that everything that was
supposed to be permitted was permitted. And

810
01:05:57.840 --> 01:06:01.079
the manager of the inspectors was kind
enough to show up. But bro this

811
01:06:01.320 --> 01:06:08.000
was back in twenty twenty two,
so tell me what happened. Well,

812
01:06:09.559 --> 01:06:15.079
the tenants said that they could not
meet the permit violations and the least non

813
01:06:15.199 --> 01:06:21.559
compliance, so they asked for an
extension to March thirty one to comply.

814
01:06:23.719 --> 01:06:29.320
And that's fine. So March thirty
one of twenty three, I'm talking to

815
01:06:29.519 --> 01:06:33.320
mic Broker ahead of time about new
insurance because it's not going to be a

816
01:06:33.400 --> 01:06:41.159
cannabis grow building anymore. Okay,
but were you this was back? Okay,

817
01:06:41.199 --> 01:06:44.679
We're going to continue this, but
can you answer me yes or no?

818
01:06:45.079 --> 01:06:48.840
Did they fix the building or not? Yes? Or no, no,

819
01:06:49.719 --> 01:06:53.119
okay, We're going to take you
up right after the break. I'm

820
01:06:53.159 --> 01:06:57.400
Tom Martino plus other calls three oh
three seven one to three Talk three oh

821
01:06:57.440 --> 01:07:08.840
three seven one three eight two five
five. Go with a sure thing Denver's

822
01:07:08.880 --> 01:07:13.199
best roofer Excel Roofing dot com.
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823
01:07:15.599 --> 01:07:20.280
Time for an insurance check up free, no obligation comparison call Compass Insurance

824
01:07:20.480 --> 01:07:25.599
paying too much your coverage at dozens
of insurance companies find out now three oh

825
01:07:25.679 --> 01:07:29.719
three seven seven one help. You'll
think you're his only customer when you choose

826
01:07:29.760 --> 01:07:33.159
Frank durand the real estate Man dot
com to list your home with Remax Alliance

827
01:07:33.440 --> 01:07:49.239
three oh three nine two zero sixteen
twenty two ris need You don't have come

828
01:07:49.400 --> 01:07:58.920
run anxious as can. Shooter's gonna
help coming man. This is the Troubleshooter

829
01:07:59.079 --> 01:08:04.599
Show. He know Tom Martino.
Hello Tom Martino here, Welcome to the

830
01:08:04.679 --> 01:08:10.400
show. Three O three seven one
three Talk three oh three seven one three

831
01:08:10.639 --> 01:08:14.920
eight five. What's going on in
your life? We have Dan Mackenzie with

832
01:08:15.039 --> 01:08:17.279
us for Mackenzie Law. We're talking
about estate planning and stuff, and we

833
01:08:17.399 --> 01:08:24.439
have some very interesting things to go
over on structuring and uh you know what

834
01:08:24.640 --> 01:08:28.279
you do with stuff your left or
how do you leave stuff the proper way.

835
01:08:28.319 --> 01:08:30.920
We're also going to talk to you, so give us a call three

836
01:08:31.000 --> 01:08:35.439
oh three seven one three talk three
oh three seven one three eight two five

837
01:08:35.680 --> 01:08:42.760
five and waterpros dot net will get
you a whole house water system to get

838
01:08:42.800 --> 01:08:48.039
out there forever chemicals or any chemicals
and uh metals and all kinds of impure

839
01:08:48.119 --> 01:08:51.279
stuff if you want good for laundry, good for your body, good for

840
01:08:51.359 --> 01:08:57.000
your skin, good for plumbing.
But here's the deal. You can also

841
01:08:57.039 --> 01:09:00.880
get the drinking water option. That's
only fourteen hundred buck. He let's put

842
01:09:00.920 --> 01:09:03.119
it this way, no matter what
option you get from him, you'll pay

843
01:09:03.479 --> 01:09:08.479
never pay less, because he has
the best prices and the best technology.

844
01:09:09.039 --> 01:09:13.119
I'm a firm believer that water is
one of the most essential nutrients. And

845
01:09:13.239 --> 01:09:16.880
we got to treat our bodies right
three zero three eight six two five five

846
01:09:16.960 --> 01:09:21.039
five four now eight six two five
five five four. So Tom was talking

847
01:09:21.319 --> 01:09:27.880
before the break about something hands of
commercial building and my god, did I

848
01:09:28.039 --> 01:09:35.439
have that disease one time? And
he was renting to a cannabis grower and

849
01:09:36.399 --> 01:09:43.079
what happened was the cannabis grower was
supposed to put the building back the way

850
01:09:43.119 --> 01:09:49.199
it was when he left when the
least was up, but did a whole

851
01:09:49.279 --> 01:09:54.800
bunch of damage to the pipes and
to the place and didn't do it properly.

852
01:09:54.960 --> 01:09:59.840
Is that a good summation, Tom? You were left with a mess?

853
01:10:00.079 --> 01:10:04.920
Is that right? Tom? That's
correct? And this leads into the

854
01:10:05.159 --> 01:10:11.600
issue now that takes us to spring
of twenty twenty three, so keep going.

855
01:10:14.159 --> 01:10:18.359
As of December thirty one of twenty
two, the tenant told me that

856
01:10:18.560 --> 01:10:24.560
they will not be able to comply
with the permit violations and least no.

857
01:10:24.800 --> 01:10:27.720
I got it, and they asked
for an extension, and that brought us

858
01:10:27.760 --> 01:10:31.520
to spring of twenty twenty three.
Then what right? Right? So their

859
01:10:31.600 --> 01:10:36.920
deadline was March thirty one, I
got it. In the meantime, since

860
01:10:38.000 --> 01:10:45.479
I was switching from cannabis back to
a non cannabis building, I was researching

861
01:10:45.079 --> 01:10:53.039
my building insurance. My long term
broker for many many years would only give

862
01:10:53.159 --> 01:10:57.279
me one quote and I asked for
multiple quotes, so I went to a

863
01:10:57.359 --> 01:11:05.960
different broker. The different broker she
wrote me up a policy with an inception

864
01:11:06.560 --> 01:11:14.600
of February first of twenty three,
which was before the March thirty one last

865
01:11:14.720 --> 01:11:19.920
day that the tenant was to cure
their defaults, and April one, I

866
01:11:20.119 --> 01:11:30.359
showed up and I found the mets. What is your question? My question

867
01:11:30.680 --> 01:11:35.640
is, in the fall of twenty
three, I reached out to my broker

868
01:11:36.319 --> 01:11:43.039
and asked for a copy of my
declarations page and the broker was not in

869
01:11:43.199 --> 01:11:47.159
town, and her assistant emailed it
to me and I'm looking at it.

870
01:11:47.840 --> 01:11:54.640
And then I replied back asking for
a copy of my policy because we are

871
01:11:54.720 --> 01:11:59.920
going from cannabis to non cannabis.
I don't know what that means, exactly

872
01:12:00.640 --> 01:12:03.640
why that matters, But okay,
see got a new policy. Did you

873
01:12:03.720 --> 01:12:09.760
get a look at it? I
didn't get the policy, but that got

874
01:12:09.800 --> 01:12:15.800
the declarations. And the reason that
it matters is most companies have an exclusion

875
01:12:15.920 --> 01:12:18.720
for any cannabis operation. Oh see, I didn't know that. Now that

876
01:12:19.159 --> 01:12:23.039
that makes sense to me. I
didn't know that, So keep going.

877
01:12:23.119 --> 01:12:29.319
Then what happened? So this new
broker who I just happened to find on

878
01:12:29.439 --> 01:12:32.680
the internet and Fort Collins, because
I now live out of state, I

879
01:12:33.199 --> 01:12:40.920
reached out to her. She put
together an application and all I received was

880
01:12:40.960 --> 01:12:45.960
a docusigned document, and I docusigned
it, turned it back in, gave

881
01:12:46.000 --> 01:12:51.279
her my check, and the inception
date was February one, but the tenant

882
01:12:51.359 --> 01:12:55.880
had until March thirty one. No, I get it. I'm getting all

883
01:12:55.960 --> 01:12:59.600
of it. I'm getting all of
it. So what what are you calling

884
01:12:59.600 --> 01:13:01.279
about? Now? Now? What
is going on? Now? What's happening?

885
01:13:01.359 --> 01:13:05.039
Man? I understand all of this. So you got new insurance non

886
01:13:05.159 --> 01:13:10.319
cannabis. The tenant left you with
a mess. Where do we stand now?

887
01:13:10.439 --> 01:13:17.079
What's the issue today? Tom?
The broker filled out the application that

888
01:13:17.279 --> 01:13:26.000
the building was leased to a plumbing
company for plumbing services and storage of equipment

889
01:13:26.159 --> 01:13:29.399
materials. Well, let me ask
you this. Did she lie about it?

890
01:13:30.359 --> 01:13:35.479
Yes? Why? Well? I
think she just wanted to sell the

891
01:13:35.560 --> 01:13:41.319
policy and get her premium. And
okay, so did you how much did

892
01:13:41.359 --> 01:13:46.079
you pay in premium? Well?
The first year was forty some hundred and

893
01:13:46.199 --> 01:13:51.680
it went up like sixty percent this
year. So why did you tell me

894
01:13:53.439 --> 01:13:58.079
you didn't have any insurance loss?
Did you? No? I did not,

895
01:13:58.680 --> 01:14:00.880
But Mi, so what do you
listen? So right now you have

896
01:14:01.119 --> 01:14:05.920
not been damaged by this, But
what are you calling about? I still

897
01:14:06.000 --> 01:14:15.560
can't figure out what you're calling about. Well, my newsbroker falsified the application,

898
01:14:15.039 --> 01:14:20.119
and my concern is looking back on
my old policy or looking back on

899
01:14:20.239 --> 01:14:26.600
my current policy. Right, it
says that I do have coverage. If

900
01:14:26.640 --> 01:14:30.399
a tenant moves out and I am
making repairs to the building, it is

901
01:14:30.560 --> 01:14:38.399
not deemed as being vacant. So
I've been making repairs on this building back

902
01:14:38.479 --> 01:14:45.159
and forth for a year now,
and my concern is if I do have

903
01:14:45.319 --> 01:14:48.960
a loss, I probably won't have
coverage. That's right, you won't,

904
01:14:49.359 --> 01:14:55.760
You won't, that's exactly right.
However, there is something called the contestability

905
01:14:55.880 --> 01:15:02.359
period in some insurance policies. I
don't know if it covers casualty property damage.

906
01:15:03.359 --> 01:15:08.479
In other words, if they did
not catch mistakes they have to ensure.

907
01:15:08.880 --> 01:15:13.319
We need to call again our insurance
experts. So hold on, we're

908
01:15:13.399 --> 01:15:16.119
going to get you an answer onto
what now. Then the other question is

909
01:15:16.199 --> 01:15:21.600
this, if you wouldn't be insured
and they weren't covering the risk, then

910
01:15:21.640 --> 01:15:27.840
you paid for nothing, which means
you might have you might have an action

911
01:15:28.000 --> 01:15:31.680
to get your money back because you
did not get coverage even though she said

912
01:15:31.720 --> 01:15:35.600
you had coverage. So there are
a number of things to explore here,

913
01:15:35.960 --> 01:15:41.279
all right, so hang on,
hang on this that what's happened to that?

914
01:15:42.760 --> 01:15:46.319
She also renewed me this past February, knowing that the building was a

915
01:15:46.439 --> 01:15:51.279
second and it still lists a plumbing
company in there, and I never leased

916
01:15:51.279 --> 01:15:59.319
it to a plumbing company. Well, did you know erroneously reporting a plumbing

917
01:15:59.399 --> 01:16:03.840
company? No. I did not
cut that until I looked at my declarations

918
01:16:03.960 --> 01:16:08.399
closer, because I was worried.
All right, let me ask you something.

919
01:16:09.159 --> 01:16:12.520
Who is this broker that you used? Where is the broker out of

920
01:16:13.439 --> 01:16:16.600
poor Colin? Well, did you
ever let her know that you know?

921
01:16:16.840 --> 01:16:23.720
She's a phony? I reached out
to her after her assistant gave me the

922
01:16:23.840 --> 01:16:28.479
declarations, and I followed up with
asking for a copy of my policy.

923
01:16:29.279 --> 01:16:33.079
Her reply back to me by email
is I took my email one hour in

924
01:16:33.159 --> 01:16:39.119
the morning, one hour in the
afternoon. Any questions you have needs to

925
01:16:39.239 --> 01:16:45.039
go through your insurance company, not
our office. Yeah, but she's the

926
01:16:45.119 --> 01:16:48.760
one that filled out your policy,
your dog on, right, she is?

927
01:16:49.600 --> 01:16:54.880
Well that Okay, hold on,
hold on, We're going to get

928
01:16:54.960 --> 01:17:00.399
compass on. I need to ask
them some questions, Tom, I don't

929
01:17:00.439 --> 01:17:03.560
know the answer. I don't know
if you're covered or not. This is

930
01:17:03.640 --> 01:17:10.119
going to be a good question.
Three oh three seven one three talk three

931
01:17:10.199 --> 01:17:15.039
oh three seven one three eight two
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932
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933
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934
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935
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solar system for around twenty grand fully
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936
01:17:38.199 --> 01:17:49.840
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937
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com. You don't pay a cent
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938
01:17:57.680 --> 01:18:00.960
check up free, no obligation.
In comparison, Hall Compass Insurance paying too

939
01:18:01.039 --> 01:18:05.279
much your coverage at dozens of insurance
companies find out now three all three seven

940
01:18:05.399 --> 01:18:10.399
seven one help. You'll think you're
his only customer when you choose Frank durand

941
01:18:10.439 --> 01:18:14.840
the real estate Man dot com to
list your home with Remax Alliance three all

942
01:18:14.880 --> 01:18:26.600
three nine two zero sixteen twenty two. Hi Tom Martine, you're troubleshooter three

943
01:18:26.640 --> 01:18:30.359
all three seven one three talk three
oh three seven one three eight two five

944
01:18:30.560 --> 01:18:38.680
five. Welcome to the show.
Hey Tom, welcome. You know I

945
01:18:39.079 --> 01:18:42.520
uh want to ask, oh we
didn't where's compass? I wanted to get

946
01:18:42.560 --> 01:18:45.680
compass on. Hold on, Tom, I'm gonna go to Dean until we

947
01:18:45.720 --> 01:18:51.319
get compass on Kaschina, get me
compass, please, Dean, what's going

948
01:18:51.359 --> 01:18:59.399
on with chiffy lube? Well?
Uh, January eleventh, I go after

949
01:18:59.479 --> 01:19:03.359
work, get a little change.
I'm headed to Nebraska and uh big when

950
01:19:03.520 --> 01:19:08.960
wait? When did you get it
done? January eleventh? Got it?

951
01:19:09.239 --> 01:19:15.920
Keep going and I head out to
Nebraska that evening and it's it was two

952
01:19:16.039 --> 01:19:23.880
hundred and sixty miles that I drove. Get a motel, Wake up in

953
01:19:23.920 --> 01:19:28.159
the morning, go to start my
truck, twenty twenty one gmc thirty five

954
01:19:28.279 --> 01:19:33.920
hundred diesel, and here at gurgling
sound and all the oils pouring out of

955
01:19:33.960 --> 01:19:44.439
the oil filter. So why get
a tow truck? Well, it's either

956
01:19:45.159 --> 01:19:48.600
loose or the tow ring. Was
the service place that I had a toe

957
01:19:48.680 --> 01:19:53.479
to said the o ring was pinched. When they how many miles were on

958
01:19:53.600 --> 01:19:58.640
it? I have eighty one thousand
miles, or had eighty one thousand miles

959
01:19:58.640 --> 01:20:01.640
at that time. Okay, then
with only two hundred only two hundred and

960
01:20:01.680 --> 01:20:06.800
fifty on the oil change. Oh
so that happened two hundred and fifty miles

961
01:20:06.960 --> 01:20:11.479
later, got it road trip to
Kansas. I actually went for about five

962
01:20:11.560 --> 01:20:16.840
hours later than when I got the
oil change. Okay, and uh so

963
01:20:16.920 --> 01:20:20.720
I've been speaking with their general Well
hold On, what did what did you?

964
01:20:20.800 --> 01:20:27.000
Didn't you left the part out?
Was their engine damage? That's what

965
01:20:27.079 --> 01:20:31.319
I've been trying to find out.
They keep Uh, they will be well

966
01:20:31.359 --> 01:20:35.520
wait a minute, who you are
trying to find that out from? Well,

967
01:20:36.000 --> 01:20:40.319
from Jiffy Loup. They're going to
run compression tests and everything. No,

968
01:20:40.439 --> 01:20:42.640
no, no, you don't let
that. Wait, bro, you

969
01:20:42.720 --> 01:20:47.479
don't let the people who perpetrated it
run the jack. Yeah, that will

970
01:20:47.520 --> 01:20:54.279
be stupid. Well, where's your
truck right now? Uh? Parked at

971
01:20:54.319 --> 01:20:59.199
the job it My truck's been running
fine. Okay, listen, every when

972
01:20:59.239 --> 01:21:02.000
you when you went to hold On, when you went to Kansas and you

973
01:21:02.119 --> 01:21:09.880
saw this major oil leaked? How
much oil had drained out? It didn't

974
01:21:10.000 --> 01:21:15.920
drain till I turned the engine on
and then it evacuated. It evacuated probably

975
01:21:15.119 --> 01:21:20.439
nine quarts. How much is Here's
what I'm asking during your trip, you

976
01:21:20.520 --> 01:21:26.319
had no oil lights, no excessive
heat. Is that right? That's correct?

977
01:21:27.000 --> 01:21:34.000
And then it evacuated after that the
following morning. Okay, nine of

978
01:21:34.119 --> 01:21:42.520
how many quarts keen? So you
had one quart? And but it did

979
01:21:42.680 --> 01:21:47.720
not leave your engine till the next
morning? Correct? Then how could you

980
01:21:47.800 --> 01:21:51.159
possibly have damage? You were lubricated, doesn't matter if it was messy.

981
01:21:51.279 --> 01:21:57.119
It was lubricated. Now after it
drained out and you only had one court,

982
01:21:57.880 --> 01:22:02.680
did you drive it after that?
No? Okay? Well what makes

983
01:22:02.720 --> 01:22:06.800
you think you have any damage?
I don't believe I do. I'm just

984
01:22:06.880 --> 01:22:13.039
trying to get reimbursed the the toe
and the service that I had to take

985
01:22:13.079 --> 01:22:20.199
it to the absolutely absolutely how much
did that cost you? Two hundred dollars

986
01:22:20.479 --> 01:22:26.640
in a toe and two hundred and
eighty dollars for the oil change and to

987
01:22:26.800 --> 01:22:31.600
clean the hole. So the oil
filter, oh ring or or gasket was

988
01:22:31.920 --> 01:22:38.600
was crimped? Yes, I still
have it? Okay, Well man,

989
01:22:39.079 --> 01:22:43.840
this is this is easy. They
owe you the money. Man, it's

990
01:22:43.920 --> 01:22:46.640
just crickets. When I when I
leave messages, well, hold on,

991
01:22:46.760 --> 01:22:50.119
nobody does anything. Hold on?
Where have you been talking to this jiffy

992
01:22:50.159 --> 01:22:57.920
loube? Where? Where in Falcon, Colorado. Is it individually owned?

993
01:22:59.560 --> 01:23:02.520
Yes, that's what I was told, individually owned, because I tried corporate

994
01:23:02.600 --> 01:23:08.399
when I was in Nebraska and they, okay, you had to call the

995
01:23:08.760 --> 01:23:12.840
shop, so I had to wait
till till that long. We're going to

996
01:23:12.880 --> 01:23:18.560
give this to somebody to work on. This is absolutely acidine that they would

997
01:23:18.640 --> 01:23:21.279
not. So how much you're looking
for again, I'm sorry, let me

998
01:23:21.319 --> 01:23:27.680
write that down. It's four and
they said, man, Jiffy Lubs said

999
01:23:27.680 --> 01:23:30.560
they were going to eat the original
oil change. I mean, I don't

1000
01:23:30.560 --> 01:23:34.119
know if they're going to do that
or not, but yeah, because they

1001
01:23:34.159 --> 01:23:39.720
did put the oil and do the
work just shoddy. Albeit so for around

1002
01:23:39.800 --> 01:23:44.680
five hundred bucks. These guys are
jerking you around, yep, crickets.

1003
01:23:45.279 --> 01:23:47.640
Well, it's going to be a
slam dunk in my opinion to get this

1004
01:23:47.800 --> 01:23:50.640
money, whether it's through US or
small claims court. But I'm going to

1005
01:23:50.720 --> 01:23:55.760
tell you right now, I'm going
to put somebody on it. Kachina.

1006
01:23:58.720 --> 01:24:00.920
Let's put somebody on. Who do
we want to put on it? Maybe

1007
01:24:01.039 --> 01:24:05.439
Deputy Dollar, Let's do it,
Deputy Dollar. That yeah, yeah,

1008
01:24:05.520 --> 01:24:12.279
yeah, because I'm thinking, yeah, I'm thinking this is wrong. You're

1009
01:24:12.319 --> 01:24:16.840
gonna you need you need to be
reimbursed, man. So I mean,

1010
01:24:17.000 --> 01:24:21.239
I don't see how they can say
noed these people. You know, if

1011
01:24:21.279 --> 01:24:26.520
people just did the right thing.
Goodness, it's not like you're exaggerating or

1012
01:24:26.560 --> 01:24:30.920
something. All right, pictures,
yeah, yeah, yeah, I mean

1013
01:24:30.279 --> 01:24:32.840
look, if you were looking to
put them together, you would have been

1014
01:24:33.800 --> 01:24:39.239
it would have been way more than
five hundred bucks. Plus you're inconvenience.

1015
01:24:39.640 --> 01:24:43.239
These people should do it with a
smile. For God's sakes, all right,

1016
01:24:43.279 --> 01:24:45.640
Now hold on because we're gonna go. Uh, we're gonna give this

1017
01:24:45.760 --> 01:24:50.640
to somebody to work on. I
have with me. Our attorney today is

1018
01:24:53.199 --> 01:24:59.279
Dan McKenzie. He is an estate
planning attorney, and we talked about creative

1019
01:24:59.279 --> 01:25:03.079
ways to leave properties and stuff.
So if someone forms an LLC and put

1020
01:25:03.159 --> 01:25:11.720
stuff into an LLC, if I
put if you put an LLC, let's

1021
01:25:11.760 --> 01:25:16.399
say you have a business and you
put the business in the LLC, that's

1022
01:25:16.479 --> 01:25:20.439
a pretty creative way to lead.
Well, the business is already probably an

1023
01:25:20.600 --> 01:25:27.079
entity, right, so can you
bring on your airs as is it possible

1024
01:25:27.119 --> 01:25:30.920
to bring on airs into that LLC
that take on more power after your death

1025
01:25:31.000 --> 01:25:34.720
without doing it as a trust in
other words, can you write the LLC

1026
01:25:34.960 --> 01:25:38.960
that way? Somebody wanted to know. Yes, Yeah, you've got your

1027
01:25:39.000 --> 01:25:42.840
operator, you're inte and specifies what
happens if one member passes away. So

1028
01:25:43.000 --> 01:25:45.000
really, it is kind of I
don't want to use the word trust,

1029
01:25:45.079 --> 01:25:47.119
but it is kind of like a
trust. Oh. I compare them all

1030
01:25:47.159 --> 01:25:51.760
the time. It's an entity unto
itself, and to me it sounds almost

1031
01:25:51.960 --> 01:25:57.279
like a cleaner. I'm not trying
to say it should take the place,

1032
01:25:57.680 --> 01:26:00.880
but it's a pretty clean way of
doing something. Yeah, I mean the

1033
01:26:00.920 --> 01:26:03.239
benefit of trust is you have a
person in charge who's going to do stuff

1034
01:26:03.319 --> 01:26:08.880
and make sure things happen and WELLLC
you can have disagreements between members and be

1035
01:26:09.000 --> 01:26:11.840
hard to resolve. Okay, But
with a trust you have a trustee.

1036
01:26:11.880 --> 01:26:15.079
Is that what you're talking correct?
And you're the trustee while you're alive and

1037
01:26:15.159 --> 01:26:18.439
then it goes to someone else.
But what's how do you pick a trustee?

1038
01:26:18.479 --> 01:26:21.680
Though? It's got to be someone
you truly trust. Yeah, that's

1039
01:26:21.720 --> 01:26:26.680
a big job it is. Now. Now, do trustees get paid?

1040
01:26:27.520 --> 01:26:30.800
We always say yes in our documents, but it's a reasonable compensation. So

1041
01:26:31.279 --> 01:26:35.439
so can a trustee then be abusive? To the like, Okay, let's

1042
01:26:35.439 --> 01:26:39.119
say you have a niece, a
nephew, a son, a daughter,

1043
01:26:40.319 --> 01:26:45.079
a sibling, somebody to be your
trustee. Yeah, what's to assure you

1044
01:26:45.800 --> 01:26:49.199
that they're not going to want too
much? They have to account to the

1045
01:26:49.239 --> 01:26:53.279
beneficiaries. They have to tell them
what they're taking, and if the beneficiaries

1046
01:26:53.319 --> 01:26:57.319
think it's unreasonable, they can potentially
take that matter to a court. Can

1047
01:26:57.399 --> 01:27:01.960
they reappoint another trustee? Ends on
what the trust document says, so there

1048
01:27:02.039 --> 01:27:05.960
could be a way then to remove
the trustee of the trustee becomes abusive.

1049
01:27:06.159 --> 01:27:13.720
Yes, but do you feel that's
the only Really if you think about it,

1050
01:27:14.239 --> 01:27:17.479
asking someone to be a trustee without
being paid, it's kind of weird,

1051
01:27:18.439 --> 01:27:21.199
even if it's a relative right.
I mean they're yeah, they've got

1052
01:27:21.239 --> 01:27:24.680
a right to be paid if they're
doing all that work. Yeah, so,

1053
01:27:24.920 --> 01:27:27.479
I mean it's part of the trust. Do they need an expertise to

1054
01:27:27.560 --> 01:27:30.039
be a trustee or just trust?
No, they don't. I mean most

1055
01:27:30.079 --> 01:27:35.439
don't have any expertise. Can I
designate a law firm as a trustee?

1056
01:27:36.079 --> 01:27:42.640
Yes? Do you recommend that or
not? You know, we've got a

1057
01:27:42.720 --> 01:27:45.640
number of professional seducaries that we recommend
and one of them is a lawyer,

1058
01:27:45.760 --> 01:27:48.479
but she's not doing that in her
laws. Again, though, this is

1059
01:27:48.600 --> 01:27:53.479
not the same as a public administrator. Right, no, right, because

1060
01:27:53.560 --> 01:27:58.199
public administrations over the years have been
have been terrible, and I mean,

1061
01:27:58.319 --> 01:28:01.680
in my opinion, they've been terrible
for estates, terrible. If the siblings

1062
01:28:01.760 --> 01:28:05.720
can't get along and they end up
getting a professional administrator, you may as

1063
01:28:05.760 --> 01:28:10.239
well say, well, we just
pissed away a ton of money. Because

1064
01:28:10.439 --> 01:28:14.880
to me, public administrators, I
don't know if they have a fiduciary,

1065
01:28:15.239 --> 01:28:17.960
but it seems to me like they
don't because it seems to me like it's

1066
01:28:17.960 --> 01:28:25.640
always their interest first. But what
is the technical technicality of a public administrator,

1067
01:28:25.880 --> 01:28:29.119
which, by the way, is
like your personal representative when you can't

1068
01:28:29.159 --> 01:28:31.520
get anyone else to do it in
your family because they're not getting along.

1069
01:28:31.960 --> 01:28:39.479
So do public administrators have a fiduciary
to the estate? Yes? Always?

1070
01:28:39.680 --> 01:28:44.199
Yeah? Okay, Now, without
naming names, without getting specific, you

1071
01:28:44.319 --> 01:28:47.359
and I both know that that is
an area in the law where there's a

1072
01:28:47.399 --> 01:28:53.119
lot of abuse. Sure, yeah, okay. Is that because the airs

1073
01:28:53.159 --> 01:28:58.640
don't know enough to to fight it? Yeah? I mean, public administrators

1074
01:28:58.640 --> 01:29:01.079
are usually getting appointed where there really
isn't a clear option. I mean,

1075
01:29:01.119 --> 01:29:04.680
somebody's passed away, there's not really
any close family, and there's real estate

1076
01:29:04.760 --> 01:29:08.239
sitting there. You know, nothing's
being done with it, and somebody's got

1077
01:29:08.319 --> 01:29:11.560
to get appointed to do it.
And Affrey County has a public administrator who's

1078
01:29:11.640 --> 01:29:14.680
kind of on call to do those
kinds of things, and so there's a

1079
01:29:14.760 --> 01:29:16.960
little bit less I mean, I
think the court's going to watch watch that

1080
01:29:17.039 --> 01:29:20.079
pretty closely, more closely than they
went in a normal estate. But yes,

1081
01:29:20.279 --> 01:29:24.640
because the beneficiaries are little bit more
detached in those situations than they usually

1082
01:29:24.680 --> 01:29:28.279
are. Three three seven one three
talk Now, I'm going to come back.

1083
01:29:28.319 --> 01:29:30.079
I'm sorry, Jeremy, I didn't
rush. You were there so quickly.

1084
01:29:30.439 --> 01:29:34.119
We're going to come back to Compass
and ask, then, what do

1085
01:29:34.239 --> 01:29:41.319
they think about this insurance situation,
with this commercial operation, Tom could have

1086
01:29:41.399 --> 01:29:49.920
been screwed. I want to ask
their opinion right after this, go with

1087
01:29:50.039 --> 01:29:55.159
a sure thing Denver's Best Roofer Excel
Roofing dot com. You don't pay a

1088
01:29:55.319 --> 01:30:00.239
cent until you're content, wait top
of it. Time for an insurance check

1089
01:30:00.319 --> 01:30:04.560
up free, no obligation. In
comparison, call Compass Insurance paying too much

1090
01:30:04.720 --> 01:30:09.640
your coverage at dozens of insurance companies. Find out now three all three seven

1091
01:30:09.760 --> 01:30:13.439
seven to one help. You'll think
you're his only customer when you choose Frank

1092
01:30:13.479 --> 01:30:17.039
durand the real estate man dot com
to list your home with Remax Alliance three

1093
01:30:17.119 --> 01:30:27.039
all three nine two zero sixteen twenty
two. Hey Tom Martino here three three

1094
01:30:27.279 --> 01:30:30.920
seven one three talk three O three
seven one three eight two five five.

1095
01:30:32.239 --> 01:30:39.199
All right, Now, Jeremy is
with Compass Insurance Group, and we have

1096
01:30:39.319 --> 01:30:42.640
a question. I want to lay
this scenario up for you. Jeremy,

1097
01:30:43.279 --> 01:30:46.920
Tom had a marijuana grow in one
of his warehouses he was renting out,

1098
01:30:48.199 --> 01:30:50.800
and he had to have special insurance
for that. Have you heard of that,

1099
01:30:50.880 --> 01:30:57.159
Jeremy, That regular insurance doesn't like
doing that. Yeah, it's typically

1100
01:30:57.199 --> 01:31:01.840
a high risk, all right.
So now that his tenant was leaving,

1101
01:31:03.560 --> 01:31:06.039
he's got to make a lot of
repairs to bring it back to the way

1102
01:31:06.079 --> 01:31:09.720
it was supposed to be, you
know, like after the grower. Right,

1103
01:31:10.399 --> 01:31:13.680
And in the meantime, he wanted
to get new insurance, and he

1104
01:31:13.800 --> 01:31:17.760
explained to the broker, I'm no
longer going to do you know, any

1105
01:31:17.840 --> 01:31:25.439
marijuana, which is fine, okay. So therefore that's where they stand.

1106
01:31:26.039 --> 01:31:34.359
Right. Well, he now was
curious about his insurance. So as for

1107
01:31:34.479 --> 01:31:40.880
a declarations page, this is about
a year after he bought that insurance,

1108
01:31:42.239 --> 01:31:48.479
and the declaration shows that she's not
The broker did not list it as vacant

1109
01:31:49.279 --> 01:31:56.560
being worked on by him, which
is I think acceptable, But it shows

1110
01:31:56.600 --> 01:32:00.199
that it as being rented out to
a plumbing contractor Is that right? So

1111
01:32:00.399 --> 01:32:06.479
far? Tom correct? So he
wants to know a couple things first and

1112
01:32:06.600 --> 01:32:11.319
foremost, if he has a loss, is he covered? Are they going

1113
01:32:11.399 --> 01:32:15.399
to say she lied and by him
acknowledging, I think, do you have

1114
01:32:15.560 --> 01:32:18.600
to sign a dex page or something. I don't know if they're going to

1115
01:32:18.640 --> 01:32:23.199
say this is not going to be
covered? And has he been paying four

1116
01:32:23.319 --> 01:32:28.399
thousand dollars for nothing? What are
your thoughts on this? Man? Yeah,

1117
01:32:29.319 --> 01:32:32.640
I mean it could potentially be a
problem for him. Is there a

1118
01:32:32.720 --> 01:32:40.119
contestability period that in casualty insurance like
there is with life and health? It

1119
01:32:40.479 --> 01:32:45.399
doesn't work the same way, but
there's a big difference between. You know,

1120
01:32:45.439 --> 01:32:48.279
if he had emails to her saying
exactly what it is that he's doing

1121
01:32:48.479 --> 01:32:54.479
and the broker wrote it incorrectly,
you know, there's a big difference between

1122
01:32:54.560 --> 01:32:58.479
that in the first year and there
isn't a tenth year, right, So

1123
01:32:58.680 --> 01:33:02.199
if if it's something where he has
proof that he can you know, show

1124
01:33:02.239 --> 01:33:04.920
it's like, hey, no,
I was very upfront and what I'm doing,

1125
01:33:05.600 --> 01:33:11.359
there's probably going to be more of
an issue for the broker by certainly

1126
01:33:11.479 --> 01:33:15.920
something he's going to want to get
fixed. And you know, especially if

1127
01:33:15.039 --> 01:33:19.359
that company he's with it doesn't do
vacant homes or there's any issues with it.

1128
01:33:19.479 --> 01:33:21.319
It's not a home, it's a
warehouse, but you know what I

1129
01:33:21.399 --> 01:33:27.079
mean, or warehouse. I'm sorry, warehouse you he could potentially have issues.

1130
01:33:27.479 --> 01:33:30.520
So I think the best thing to
do is, you know, fix

1131
01:33:30.640 --> 01:33:38.000
it moving forward so that he doesn't
take that risk. Okay, problem right

1132
01:33:38.119 --> 01:33:44.319
now? The only fix come this
year upon renewal. I reached out to

1133
01:33:44.520 --> 01:33:49.680
four or five different brokers for quotes. All of them told me the only

1134
01:33:49.800 --> 01:33:56.760
thing they could write me up for
is a high risk vacant building. And

1135
01:33:57.640 --> 01:34:03.680
why it would be Why because because
technically it is vacant. But the only

1136
01:34:03.920 --> 01:34:11.199
caveat that I had in my back
pocket was under my current policy, it

1137
01:34:11.479 --> 01:34:16.560
states if a tenant vacates you still
have coverage if you're making repairs to the

1138
01:34:16.640 --> 01:34:24.560
building. Yeah, but she's not
reporting that. She's reporting it as And

1139
01:34:24.960 --> 01:34:29.960
here's what I think they mean.
I don't think they mean you get insurance

1140
01:34:30.479 --> 01:34:34.560
while you're making repairs. What they
mean is if you have a tenant and

1141
01:34:34.680 --> 01:34:39.039
they move out, you can make
repairs. I don't think they want to

1142
01:34:39.159 --> 01:34:43.359
accept it from the get go as
a vacant building where you're doing repairs.

1143
01:34:43.439 --> 01:34:47.600
Isn't that right, Jeremy, Yeah, that's correct. I don't think you

1144
01:34:47.720 --> 01:34:54.159
have coverage. Tom, Neither do
I, And so Jeremy. If he

1145
01:34:54.279 --> 01:34:58.840
wanted to get coverage right now on
a building, how severely damaged is it

1146
01:34:58.960 --> 01:35:03.720
right now? Tom? Oh,
it's ninety percent ready for sale, ready

1147
01:35:04.279 --> 01:35:09.600
because I've spent a year back and
forth from Saint Louis. Okay, then

1148
01:35:09.720 --> 01:35:16.359
Tom, then it is a vacant
building. That's correct. Except the policy

1149
01:35:16.479 --> 01:35:20.439
that she wrote me. I'm not
talking about that policy. It's useless.

1150
01:35:20.640 --> 01:35:26.119
We're talking about getting a new policy. It would be for a vacant building.

1151
01:35:26.600 --> 01:35:30.279
Jeremy, and that, Jeremy,
that's not an issue. That's not

1152
01:35:30.680 --> 01:35:36.000
an issue getting a policy except for
the cost. My question is for the

1153
01:35:36.159 --> 01:35:43.159
first year and this renewal on February
first, I believe they owe me that

1154
01:35:43.359 --> 01:35:46.239
money back. Well, I kind
of think they do too, Jeremy.

1155
01:35:46.720 --> 01:35:50.560
If don't you think he could go
to the insurance commission or something. I

1156
01:35:50.720 --> 01:35:58.600
think he's been paying for something where
he didn't have coverage. You certainly can

1157
01:35:58.720 --> 01:36:01.520
try. I mean the problem is
it's you know, if they come back

1158
01:36:01.560 --> 01:36:04.359
and say, well, we would
have covered it, and and I know

1159
01:36:05.199 --> 01:36:09.479
what is going to be. I'm
not saying that's right. I'm just saying

1160
01:36:10.279 --> 01:36:13.439
you don't know if they weren't going
to cover it. So had he made

1161
01:36:13.479 --> 01:36:17.000
a claim and it wasn't covered,
how much? How much he's paying around

1162
01:36:17.079 --> 01:36:21.119
four grand? How much do they
want for the vacant building coverage? Tom

1163
01:36:21.399 --> 01:36:27.680
it jumps over six thousand of pound
renewal on February first. What is the

1164
01:36:27.920 --> 01:36:30.880
what is the what is the building
worth? About? How big is it

1165
01:36:31.039 --> 01:36:35.359
one point twenty five it's going on
the market for? And how big is

1166
01:36:35.399 --> 01:36:43.840
it? Five thousand square feet?
So, Jeremy, does that sound six

1167
01:36:44.000 --> 01:36:47.359
grand for a vacant building? Does
that sound like a lot? No?

1168
01:36:47.760 --> 01:36:50.479
I mean it is a lot,
but not for the market right now.

1169
01:36:50.840 --> 01:36:57.000
That's that's Okay, okay, if
a broker, if a broker binds me

1170
01:36:57.600 --> 01:37:02.000
under a vacant building, it's going
to be between eight nine thousand. Oh

1171
01:37:02.560 --> 01:37:09.079
oh oh, because you ought to
get Compass Insurance group. You ought to

1172
01:37:09.119 --> 01:37:12.680
have Compass quote you on it,
just for the hell of it. Well,

1173
01:37:13.119 --> 01:37:15.159
and that's why I'm thrilled to be
able to get in touch with you.

1174
01:37:16.600 --> 01:37:19.960
I've been back there a month and
I'm driving to Saint Louis right now

1175
01:37:20.119 --> 01:37:26.119
and it's worth day all the time
I've been on hold just to get your

1176
01:37:26.359 --> 01:37:30.000
piece of advice, and I will
certainly. Well, here's what I want

1177
01:37:30.000 --> 01:37:33.520
you to do. I want you
to call Jeremy at at Compass Insurance.

1178
01:37:33.600 --> 01:37:38.479
These guys are great. I've known
him for so many years. Just call

1179
01:37:38.600 --> 01:37:41.840
him for the hell of it.
They represent twenty six companies. They'll let

1180
01:37:41.880 --> 01:37:45.520
you know in a heartbeat. I
mean, these guys are just legit.

1181
01:37:45.880 --> 01:37:49.680
Three all three nine nine six nine
thousand three all three nine nine six nine

1182
01:37:49.760 --> 01:38:00.920
thousand Go with a sure thing Denver's
best roofer Excel Roofing. You don't pay

1183
01:38:00.960 --> 01:38:06.760
a cent until you're content. Time
for an insurance checkup, free, no

1184
01:38:06.840 --> 01:38:12.800
obligation in comparison, call Compass insurance
paying too much your coverage at dozens of

1185
01:38:12.880 --> 01:38:15.840
insurance companies. Find out now three
all three seven seven to one help You'll

1186
01:38:15.880 --> 01:38:19.640
think you're his only customer when you
choose Frank durand the real estate man dot

1187
01:38:19.720 --> 01:38:25.439
com to list your home with Remax
Alliance three all three nine two zero sixteen

1188
01:38:25.479 --> 01:38:32.000
twenty two. Hi Tom Martino here
in three oh three seven one three talk

1189
01:38:32.079 --> 01:38:36.880
three A three seven one three eight
two five five. So we're talking about

1190
01:38:38.520 --> 01:38:44.680
a state planning, estate plans and
various ways to leave property, art,

1191
01:38:45.680 --> 01:38:51.119
businesses and things. We talked about
the trust, which is a legal document

1192
01:38:51.239 --> 01:38:56.520
that dictates what happens to your stuff
even long after you die. Now,

1193
01:38:57.560 --> 01:39:03.680
can you make a trust? This
is a composite of a text question or

1194
01:39:03.720 --> 01:39:11.520
two because they're like too long to
read, but in essence they want to

1195
01:39:11.560 --> 01:39:15.520
know, can you make a trust? As I've said before, I've said

1196
01:39:15.560 --> 01:39:20.039
this before, I'm home, I'm
right that not only controls what happens to

1197
01:39:20.159 --> 01:39:27.600
your stuff through death and beyond the
estate, but for the lives of your

1198
01:39:28.520 --> 01:39:34.560
errors in the trust? Can that
happen or Dan? Does it have to

1199
01:39:34.640 --> 01:39:39.279
be just for that one generation?
For you? I mean, in other

1200
01:39:39.319 --> 01:39:44.800
words, Can I leave things to
my children in a trust and dictate how

1201
01:39:44.880 --> 01:39:48.680
they use those assets their lives for
their lives or does that trust have to

1202
01:39:48.800 --> 01:39:54.479
expire after a certain time. It
does have to expire after a certain time.

1203
01:39:54.520 --> 01:39:57.000
It does pretty long amount of time, like how much son, No,

1204
01:39:57.880 --> 01:40:01.760
there's a there's a statute. This
is a crazy lesson in law school

1205
01:40:01.960 --> 01:40:06.159
called the rule against perpetuities that prevents
trust from being going on forever, and

1206
01:40:06.479 --> 01:40:10.720
lawyers figured out creative ways around that, like now colrade as a statute.

1207
01:40:11.279 --> 01:40:13.880
It's got to end like in a
thousand years, and it's got a very

1208
01:40:13.960 --> 01:40:19.079
long time. So you can literally
have some assets and a small fortune or

1209
01:40:19.079 --> 01:40:23.800
a big fortune whatever. Yeah,
and control how it's doled out for the

1210
01:40:23.960 --> 01:40:27.359
entire life of your children. Yep. And even beyond that, yes,

1211
01:40:27.800 --> 01:40:32.359
do people often do that or just
until the kids maybe get to a sane

1212
01:40:32.520 --> 01:40:36.199
age. Yeah. In my experience, most people seem to think after about

1213
01:40:36.239 --> 01:40:41.079
forty kids should be done with trust. There are reasons that they're wrong about

1214
01:40:41.079 --> 01:40:45.199
that. I could go into But
now, does a trust then if it's

1215
01:40:45.239 --> 01:40:48.359
a revocable trust when you're alive,
is it still a revocable trust when you

1216
01:40:48.560 --> 01:40:53.479
die and they take over. Now
it becomes irrevocable. Yeah, because if

1217
01:40:53.479 --> 01:40:56.560
they could just revoke it, we
wouldn't do this right, Okay, So

1218
01:40:56.680 --> 01:41:00.760
when it becomes irrevocable, then you
get to say when it ends you do

1219
01:41:00.399 --> 01:41:05.079
correct. Can all the people get
together and decide when it ends they can

1220
01:41:05.119 --> 01:41:10.039
petition the court? Yes? Yeah, or there could be provisions and trust

1221
01:41:10.359 --> 01:41:13.680
insign here's some as says, now, this is very interesting. We have

1222
01:41:13.760 --> 01:41:16.279
more coming up on this, and
your calls at three o three seven one

1223
01:41:16.399 --> 01:41:21.800
three talk or three oh three Martino. Go with a sure thing Denver's best

1224
01:41:21.920 --> 01:41:30.520
roofer Excel Roofing dot com. You
don't pay a cent until you're contenth time

1225
01:41:30.600 --> 01:41:34.000
for an insurance checkup free, no
obligation. In comparison, call Compass Insurance

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01:41:34.199 --> 01:41:39.319
paying too much your coverage at dozens
of insurance companies find out now three oh

1227
01:41:39.399 --> 01:41:42.840
three, seven to seven to one
help. You'll think you're his only customer

1228
01:41:42.880 --> 01:41:45.479
when you choose Frank durand the real
estate Man dot com to list your home

1229
01:41:45.720 --> 01:42:00.399
with Remax Alliance three oh three nine
two zero sixteen twenty two news need ad

1230
01:42:00.960 --> 01:42:08.760
You don't have come running just as
fast as we can. Shoot's gonna help

1231
01:42:09.039 --> 01:42:15.760
come Man Dix is the Troubleshooter Show. No, Tom Martino, Hey Tom

1232
01:42:15.840 --> 01:42:20.039
Martino here, Welcome to the show. Three O three seven one three talk

1233
01:42:20.159 --> 01:42:25.720
seven one three eight two five five
is the studio number, and the Troubleshooter

1234
01:42:25.880 --> 01:42:30.920
number twenty four to seven is three
oh three Martino three oh three six two

1235
01:42:31.000 --> 01:42:34.479
seven eight four six six. What
does that mean? That means you can

1236
01:42:34.520 --> 01:42:38.520
call that number and if we're not
there, you leave a message and we

1237
01:42:38.720 --> 01:42:41.359
will get back to and get you
on the show. SEVI have a problem,

1238
01:42:41.439 --> 01:42:45.000
question, you complaint? Call us
a lot of interesting topics today.

1239
01:42:45.039 --> 01:42:49.920
We have Dan mackenzie with us from
coplans dot co, which is this website

1240
01:42:50.039 --> 01:43:00.560
for estate planning also eight three three
coo plans, and we were talking about

1241
01:43:00.439 --> 01:43:08.680
a number of things. When it
comes to leaving your stuff behind for airs,

1242
01:43:09.880 --> 01:43:15.520
you can do a trust, and
you can do an LLC, and

1243
01:43:15.640 --> 01:43:19.960
that LLC can survive death with an
operating agreement. That can pretty much spell

1244
01:43:20.039 --> 01:43:27.000
out some certain things. Now let's
talk about trust. Why would someone do

1245
01:43:27.960 --> 01:43:32.880
an ear revocable trust. Why would
they have a trust that can't be changed?

1246
01:43:34.680 --> 01:43:39.199
I just don't understand that. Yeah, the concept usually they are trying

1247
01:43:39.279 --> 01:43:43.920
to get some assets out of their
estate for estate tax purposes, or they

1248
01:43:43.960 --> 01:43:45.520
are trying to get some asset protection
and trying to get assets out of their

1249
01:43:45.640 --> 01:43:48.720
name so that if they get sued
or get a creditor, so they normally

1250
01:43:48.800 --> 01:43:53.880
a target or something, or do
they anticipate being a target them? Yeah,

1251
01:43:54.000 --> 01:43:59.640
that can happen. Yes, So
does that irrevocable trust truly become there?

1252
01:44:00.039 --> 01:44:02.560
Irrevocable? I mean they don't have
control over it. There's a lot

1253
01:44:02.600 --> 01:44:06.119
of things you can do to slip
in ways to give them some protection or

1254
01:44:06.239 --> 01:44:12.560
some ability to keep keep the amending
things. But the more flexibility you give

1255
01:44:12.560 --> 01:44:15.079
yourself, the easier it is for
your creditors to pierce it. Now,

1256
01:44:15.920 --> 01:44:23.159
if you have an irrevocable trust,
can it be used to shit to shelter

1257
01:44:23.760 --> 01:44:28.680
you from liability. It's possible.
It's got to be set up in a

1258
01:44:28.840 --> 01:44:30.760
state that has a statue that allows
at and Colorado is not one of those

1259
01:44:30.760 --> 01:44:35.439
states. So there are states where
they will let you do a self settled

1260
01:44:35.479 --> 01:44:40.840
trust, a trust for your benefit
with your own funds, and also still

1261
01:44:40.960 --> 01:44:43.960
qualify as asset protection. What does
this? What does that mean? Self

1262
01:44:44.000 --> 01:44:47.279
settlement trust you're creating the trust,
you're putting your assets into it, you're

1263
01:44:47.680 --> 01:44:53.439
potentially benefiting from that trust. And
yet they're going to say it's protected from

1264
01:44:53.479 --> 01:44:59.520
creditors and so state, they don't
do that here. Okay, and it's

1265
01:44:59.560 --> 01:45:03.439
a you know, so are you
seeing an irrevocable trust here? It does

1266
01:45:03.520 --> 01:45:08.199
not protect you, not for asset
protection. No, no, no.

1267
01:45:08.560 --> 01:45:10.880
If you're putting your own assets in
there and you're creating it, like,

1268
01:45:11.000 --> 01:45:14.560
no, you gotta go to a
state that has a statue. Wait a

1269
01:45:14.600 --> 01:45:17.079
minute, Then am I allowed to
go to another state if I live here?

1270
01:45:17.079 --> 01:45:21.199
Sure? Wait a minute. So
you must have people then that come

1271
01:45:21.279 --> 01:45:26.920
in and say, Dan, I
want to protect my assets in an irrevocable

1272
01:45:26.960 --> 01:45:30.600
trust. And then you say,
we have to do it in another state.

1273
01:45:30.720 --> 01:45:33.600
And that's totally legal. Yeah.
And when they go to another state,

1274
01:45:33.640 --> 01:45:36.520
they don't have to be a resident, they don't have to establish residency

1275
01:45:36.640 --> 01:45:41.720
or anything. No. I mean
the each state has its own requirements for

1276
01:45:41.800 --> 01:45:45.039
what needs to be done. You
probably have to have a professional trustee in

1277
01:45:45.199 --> 01:45:48.239
that state. So state's like Nevada
and Wyoming in South Dakota have entire industries

1278
01:45:48.319 --> 01:45:51.760
now set up. Okay, trust, if you go to those states,

1279
01:45:53.079 --> 01:45:58.479
Yeah, and set up an irrevocable
trust. It cannot be touched by creditors.

1280
01:45:59.079 --> 01:46:02.640
A lawyer is never going to anything
that definite. It's it depends on

1281
01:46:02.720 --> 01:46:06.960
when you set it up, when
the creditor came. There's rules, so

1282
01:46:08.079 --> 01:46:11.560
it's not ways for seven years.
I know their look backs. But let's

1283
01:46:11.560 --> 01:46:15.319
say right now, I set up
an irrevocable trust in another state where they

1284
01:46:15.399 --> 01:46:21.159
allow credit protection, credit or protection. Yeah, and I don't have any

1285
01:46:21.239 --> 01:46:27.520
problems in my past and something comes
up. Now, that's a strong case,

1286
01:46:27.680 --> 01:46:29.840
right, But people ask me,
can I be sued if it's like

1287
01:46:29.920 --> 01:46:32.840
the answer is yes. And then
the problem with these domestic trusts and why

1288
01:46:32.920 --> 01:46:36.479
people continue to go off short to
places like the Cook Islands or whatever else,

1289
01:46:36.680 --> 01:46:41.720
is because we have the full faith
and credit class the United States Constitution

1290
01:46:41.880 --> 01:46:44.800
saying that each state is supposed to
give full faith and credit to other state's

1291
01:46:44.880 --> 01:46:48.560
judgments. Right, So there's still
not entirely settled as to whether these trusts

1292
01:46:48.600 --> 01:46:53.119
really work in every circumstance, it's
stronger to go offshore, but then you

1293
01:46:53.199 --> 01:47:02.039
got even more hassle. Now we're
talking about protecting someone someone's assets from creditors.

1294
01:47:02.279 --> 01:47:08.079
But can they still use the assets
put in irrevocable trust. Obviously there's

1295
01:47:08.159 --> 01:47:11.520
restrictions, right, So you have
to have this other trustee because they have

1296
01:47:11.640 --> 01:47:15.439
to have instructions about when they're providing
these assets. Right, So you can't

1297
01:47:15.520 --> 01:47:16.079
just go in there and grab them
and say, you know what, I

1298
01:47:16.119 --> 01:47:18.880
don't I need the money, so
I'm taking it. No. No,

1299
01:47:19.119 --> 01:47:24.840
I'm saying using it like a big
home. Can you continue to use that

1300
01:47:24.960 --> 01:47:28.439
home in irrevocable trust? Yeah,
yeah, there's place to do that.

1301
01:47:28.560 --> 01:47:34.199
Yep. What about the really wealthy
that have a yacht, I know,

1302
01:47:35.000 --> 01:47:41.399
Yeah, you can put that in
irrevocable trust and then you can still pretend

1303
01:47:41.479 --> 01:47:43.920
you own it, do everything you
want on it. You can still use

1304
01:47:43.960 --> 01:47:47.079
it. Yeah. Do you have
to pay for the use? That probably

1305
01:47:47.239 --> 01:47:49.920
is part of the price, Yeah, to make it look like, yeah,

1306
01:47:49.920 --> 01:47:53.279
I don't really own this thing anymore. Now I'm borrowing it from my

1307
01:47:53.359 --> 01:47:56.479
trust and I'm paying rent like I
would to any other person who owns this

1308
01:47:56.600 --> 01:47:59.640
asset, and then that goes to
the assets of the trust. Correct.

1309
01:48:00.680 --> 01:48:04.560
Okay, but you're saying if that's
done in another state, it's still possible

1310
01:48:04.640 --> 01:48:09.640
that that other state can let it
go for creditors if you belong in a

1311
01:48:09.720 --> 01:48:14.079
state where they don't allow it.
Correct. I mean there's I mean there's

1312
01:48:14.119 --> 01:48:17.359
Supreme court cases now where people are
challenging these things. Right. So yeah,

1313
01:48:17.840 --> 01:48:21.880
yes, Now when they go offshore, isn't that risky If let's say

1314
01:48:23.199 --> 01:48:28.039
just take the yacht example. Yeah, they put a yacht in irrevocable trust,

1315
01:48:28.520 --> 01:48:33.199
they get sued or they want they
or whatever somebody wants something? Can

1316
01:48:33.680 --> 01:48:40.159
what what is so powerful about that
offshore trust? So again, places,

1317
01:48:40.399 --> 01:48:44.600
certain places, the Cook Islands has
been very popular lately have statutes saying we

1318
01:48:44.760 --> 01:48:48.079
do not honor the judgments of other
jurisdictions. We are not taking judgments from

1319
01:48:48.119 --> 01:48:54.640
the United States. Can they order
you if you were that you can't be

1320
01:48:54.720 --> 01:48:58.119
the trustee of an offshore trust?
Can right? Not? Right? Yeah,

1321
01:48:58.760 --> 01:49:02.359
because if you were a trusrustee could
in your own state order you to

1322
01:49:02.960 --> 01:49:09.039
release the property? Correct? So
on purpose, it's another trustee in another

1323
01:49:09.199 --> 01:49:13.960
country that you don't control, right, But you're giving them the instructions.

1324
01:49:14.079 --> 01:49:16.800
So you know you've drive, you
know you've been partner. But what's to

1325
01:49:16.960 --> 01:49:21.960
keep somebody from Cook Islands? What's
to keep fraud from going how do you

1326
01:49:23.039 --> 01:49:27.239
protect yourself if it's not the full
faith and credit of the US. If

1327
01:49:27.359 --> 01:49:31.640
you have an offshore trustee who lives
in the Cook Islands and who cares if

1328
01:49:31.640 --> 01:49:35.000
they're an attorney there, it's the
Cook Islands, it's not the US.

1329
01:49:35.439 --> 01:49:40.520
I mean what I'm saying, I'm
not trying to insinuate that they're not ethical,

1330
01:49:40.920 --> 01:49:45.760
but how how truly do you protect
yourself? Are these trusts? What's

1331
01:49:45.840 --> 01:49:49.399
to keep a government saying we're no
longer going to protect you or or you

1332
01:49:49.479 --> 01:49:54.800
know, in other words, you
can't help but believe if a one hundred

1333
01:49:54.920 --> 01:50:01.119
million dollar yacht is sitting somewhere,
that that trustee couldn't be tempted to use

1334
01:50:01.159 --> 01:50:06.279
it or whatever. Yeah, I
mean you definitely want. Yeah, you

1335
01:50:06.359 --> 01:50:10.279
need a jurisdiction where it's like,
you trust it, it's stable, the

1336
01:50:10.359 --> 01:50:14.800
laws seemed well drafted, and and
that's where a lot of Americans go,

1337
01:50:14.880 --> 01:50:17.319
as the Cook Islands. That has
been a very popular place lately. You

1338
01:50:17.399 --> 01:50:20.279
know, it used to be Switzerland, of course, you know Switzerland now

1339
01:50:20.520 --> 01:50:27.560
I think has been I'm ashamed,
no, no, but so some governments

1340
01:50:27.600 --> 01:50:31.359
are almost forced by pressure into cooperating
with the US. I mean I feel

1341
01:50:31.399 --> 01:50:35.640
like, I mean care, Yeah, they yes, they care, yeah

1342
01:50:35.760 --> 01:50:40.039
they yeah, they do care.
They do not care? Right, yeah?

1343
01:50:40.079 --> 01:50:43.199
Okay, So what kind of what
are the Cook Islands? Are they

1344
01:50:44.479 --> 01:50:48.000
normal free society? It's like a
very very small little chain of islands,

1345
01:50:48.119 --> 01:50:51.399
and they made it a whole industry. They would you say, there are

1346
01:50:51.439 --> 01:50:56.800
a ton of trust there, You're
welcome. I'm sure there are. Yes.

1347
01:50:58.079 --> 01:51:00.560
Interesting, is it illegal for you
US attorney to set up someone out

1348
01:51:00.600 --> 01:51:05.000
there? Oh? No, it's
illegal if we are trying to evade creditors,

1349
01:51:05.079 --> 01:51:08.560
right, I mean you really But
if you have no danger in your

1350
01:51:08.600 --> 01:51:12.960
horizon or in the past and you
do it, that's fine. Correct,

1351
01:51:13.199 --> 01:51:15.479
You're free to do it. Yes, my predecessor on the show, that's

1352
01:51:15.479 --> 01:51:18.199
what he does, Blake Harris,
Right, Yesla Harris, Yeah, that's

1353
01:51:18.199 --> 01:51:24.239
what he does now, Cook Islands. Now, following that vein, what

1354
01:51:24.600 --> 01:51:30.079
if though you had a depreciable property
for your business and you put it there,

1355
01:51:30.119 --> 01:51:33.439
you can't continue to take the benefit
of depreciation and all that on something

1356
01:51:33.479 --> 01:51:38.680
that you no longer own. Right? That seems unlikely to me? Right?

1357
01:51:38.840 --> 01:51:41.600
So yeah, probably not. I'm
not a tax No, you're doing

1358
01:51:41.680 --> 01:51:45.560
and you're doing a logical thought that
if it's not yours anymore, then you

1359
01:51:45.640 --> 01:51:47.039
don't get to depreciate it. Yeah, it's really going to be treated like

1360
01:51:47.079 --> 01:51:51.479
it's not yours. If it is
yours and it was in your business,

1361
01:51:51.640 --> 01:51:56.840
like the yacht, and it's fully
depreciated and you sell it for a dime,

1362
01:51:56.920 --> 01:52:00.640
you got a dime of gain.
Now you're not a tax guy.

1363
01:52:00.760 --> 01:52:04.000
But theoretically when you put it into
the trust, does it have to be

1364
01:52:04.079 --> 01:52:10.439
assigned a value? Yeah? I
mean you're usually gifting assets over or selling

1365
01:52:10.479 --> 01:52:13.039
them to the trust for fair market
value of some sort. So yes,

1366
01:52:13.079 --> 01:52:16.920
there usually is some sort of appraisal
process. So I'm curious if you had

1367
01:52:16.960 --> 01:52:25.399
a fully depressiable asset if you gifted
it to the irrevocable trust in the Cook

1368
01:52:25.479 --> 01:52:30.399
Islands, if there would be a
taxable event on you because you had fully

1369
01:52:30.520 --> 01:52:34.279
taken its depreciation. That is a
very complicated question. Yeah, and you

1370
01:52:34.479 --> 01:52:38.640
work, I imagine with tax attorneys
and accounts on that. Yeah. When

1371
01:52:38.640 --> 01:52:41.840
you're doing these kinds of trusts,
the financial advisor, the accountant, like

1372
01:52:41.920 --> 01:52:45.560
it's a team effort here. You're
not just you know, with a vocal

1373
01:52:45.560 --> 01:52:46.840
trust of course, can change it. So if you do make a mistake.

1374
01:52:47.560 --> 01:52:51.279
Usually it's quite fixable. You're very
now that all of this is very

1375
01:52:51.399 --> 01:52:55.600
fascinating to me. Of course,
I don't have that wealth where I would

1376
01:52:55.640 --> 01:52:58.960
have to worry about Cook Island trusts
or stuff like that. I mean,

1377
01:52:59.439 --> 01:53:02.760
I can you were people. Do
you think the very very very very very

1378
01:53:02.880 --> 01:53:10.680
wealthy the multi multi billionaires routinely have
trust or not. They definitely do.

1379
01:53:11.039 --> 01:53:14.000
And the amount of wealth you need
to make these worthwhiles less than you think.

1380
01:53:14.319 --> 01:53:16.720
Okay, because it's really they're truly
wealthy. You probably have more protection

1381
01:53:17.239 --> 01:53:21.640
they don't, you know, like
if Bill Gates probably gets sued a thousand

1382
01:53:21.680 --> 01:53:25.239
times a year, if he loses
all them, they probably would not have

1383
01:53:25.359 --> 01:53:28.239
any impact on his life. I
see what you're saying. So it's really

1384
01:53:28.399 --> 01:53:30.119
those in between people. Yeah,
the people, I mean, two million

1385
01:53:30.199 --> 01:53:33.439
bucks can make it kind of interesting
to a potential plans. Okay, I

1386
01:53:33.479 --> 01:53:36.600
see what you're saying. Bobby,
you have a question. What is it?

1387
01:53:36.680 --> 01:53:43.039
Bobby? Thank Tom, longtime listener, Thank you, Bobby. What's

1388
01:53:43.119 --> 01:53:47.039
happening? I just had a quick
question. I was Unfortunately, I'm going

1389
01:53:47.159 --> 01:53:53.520
to file for divorce and I am
also going to look for a house at

1390
01:53:53.560 --> 01:53:56.840
the same time. I've been looking
for him, but my wife has like

1391
01:53:57.000 --> 01:54:00.880
she's not even part of it.
You know what I mean, be on

1392
01:54:00.119 --> 01:54:04.640
the lease or I mean as the
market. I'm going at a holl on

1393
01:54:04.720 --> 01:54:11.239
my own. Yeah. Should I
purchase the house? Uh? After?

1394
01:54:11.439 --> 01:54:15.319
Should I get your word? Oh? That is such a good question.

1395
01:54:15.520 --> 01:54:17.800
Hang on, we'll come right back
to you because I'm running late and I

1396
01:54:17.840 --> 01:54:20.600
want to I want to take the
time to answer that. It's good that

1397
01:54:20.680 --> 01:54:25.399
you called before it happened. Three
O three seven one three eight two five

1398
01:54:25.600 --> 01:54:34.600
five. Go with a sure thing
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1399
01:54:34.800 --> 01:54:42.560
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01:54:42.680 --> 01:54:46.000
free, no obligation. In comparison, call Compass Insurance paying too much your

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coverage at dozens of insurance companies find
out now three all three seven seven to

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one. Help. You'll think you're
his only customer when you choose Frank durand

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01:54:54.920 --> 01:54:59.359
the real estate Man dot com to
list your home with Remax Alliance three oh

1404
01:54:59.399 --> 01:55:05.159
three nine two zero sixteen twenty two. Hey Tom Martino here, three oh

1405
01:55:05.279 --> 01:55:11.079
three seven to one three talk seven
one three eight two five five Denverregen dot

1406
01:55:11.159 --> 01:55:14.479
com has the Semiglue tide in a
compounded form. You can get right away

1407
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two hundred and fifty bucks a month. Compare that to fourteen hundred bucks a

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even get it Denverregen dot com. All

1409
01:55:23.359 --> 01:55:29.000
right, So Bobby, you have
called at the right time, and that

1410
01:55:29.239 --> 01:55:33.239
is of course before it's a problem
and you want to know you're you're filing

1411
01:55:33.399 --> 01:55:40.239
for divorce. Now here's the thing. When you say filing for a divorce,

1412
01:55:41.600 --> 01:55:45.439
when will you be doing this?
And does she know it? Yes,

1413
01:55:45.760 --> 01:55:49.399
she does. We're both in agreement. Yeah, so she does.

1414
01:55:49.520 --> 01:55:54.880
Okay, do you guys own a
home right now? We do not,

1415
01:55:55.079 --> 01:55:58.199
And that's the second question. We
are leasing, and we've been leasing for

1416
01:55:58.439 --> 01:56:01.960
at least three or four years at
this rental unit. And also I listened

1417
01:56:01.960 --> 01:56:05.159
to you a lot, and you
know, the first few years we had

1418
01:56:05.399 --> 01:56:11.159
a written assigned contract, and then
after that it was just because our landlord

1419
01:56:11.319 --> 01:56:15.479
is out of state, so I
was just making payments through Venmo to her.

1420
01:56:15.800 --> 01:56:18.720
So you no longer have a lease, is what you're saying. Well,

1421
01:56:18.760 --> 01:56:21.000
yeah, from what you said,
And then doesn't it turn into just

1422
01:56:21.159 --> 01:56:25.399
thirty days since after you know what
I mean, you don't. It depends

1423
01:56:25.479 --> 01:56:31.119
on the original If the original listen, if the original lease required sixty days

1424
01:56:31.279 --> 01:56:39.399
notice, then the new month to
month would require sixty days notice. Everything

1425
01:56:39.640 --> 01:56:45.359
in the previous lease would be enforced
in the month to month. So but

1426
01:56:45.359 --> 01:56:49.039
then they could say, well,
now you have a new month to month

1427
01:56:49.600 --> 01:56:55.720
and change that. But if they
did not do that, most of the

1428
01:56:55.880 --> 01:57:01.000
terms and conditions carry over. So
do you have a thirty day notice on

1429
01:57:01.119 --> 01:57:05.520
the previous one? I would have
to look at our concert, my leaf,

1430
01:57:05.920 --> 01:57:09.760
whatever it is, is what you
have. So if you have so,

1431
01:57:09.960 --> 01:57:14.159
so just but here's the deal.
Always check with an attorney on a

1432
01:57:14.239 --> 01:57:17.000
legal document, because I don't have
privy to that and I'm not an attorney.

1433
01:57:17.199 --> 01:57:27.119
So, but look at your your
lease. Now, once you get

1434
01:57:27.159 --> 01:57:30.439
out of that. If you let
your wife assume it and stay there but

1435
01:57:30.560 --> 01:57:33.720
you're still on it, you're hooked. Even if the courts say she gets

1436
01:57:33.760 --> 01:57:40.359
the apartment. The courts can say
one thing, but divorce decrees do not

1437
01:57:40.560 --> 01:57:45.000
have to be honored by creditors.
Do you understand that if they split up

1438
01:57:45.000 --> 01:57:48.640
a credit card in the courts,
that doesn't mean the credit card company can't

1439
01:57:48.680 --> 01:57:51.960
still come after you. They can. A lot of people make the mistake

1440
01:57:53.039 --> 01:58:00.600
of thinking that a court order from
divorce iners upon the creditors. It does

1441
01:58:00.760 --> 01:58:05.279
not. Okay, now that's first
thing. Second thing, if you're gonna

1442
01:58:05.319 --> 01:58:11.039
buy a house, you can't do
it until the divorce is final, because

1443
01:58:11.159 --> 01:58:15.119
otherwise it's going to be marital property. Now, okay, good. When

1444
01:58:15.279 --> 01:58:25.279
you file for divorce, there's an
automatic stay on finances, meaning that everything

1445
01:58:25.439 --> 01:58:30.800
freezes and you really can't make major
purchases, or if you do, they're

1446
01:58:30.840 --> 01:58:34.039
subject to being part of the divorce. So I mean I would not do

1447
01:58:34.199 --> 01:58:40.520
it until it's final. Ah,
So that's great, great advice, like

1448
01:58:40.600 --> 01:58:43.239
I said. Now, of course, like I said, if you're if

1449
01:58:43.319 --> 01:58:45.479
you know, you want to go
with an attorney, if you're gonna do

1450
01:58:45.560 --> 01:58:47.560
this, right, are you guys
trying to do this divorce on your own?

1451
01:58:48.840 --> 01:58:51.880
Oh yeah, it's gonna be probably
to mediation. I mean we have

1452
01:58:53.560 --> 01:58:57.000
Okay, that's good, hold on, that's good. Get an attorney mediator.

1453
01:58:57.840 --> 01:59:02.960
Okay, an attorney media can mediate
and if you both don't have attorneys,

1454
01:59:03.039 --> 01:59:10.359
that's fine. They one attorney can
mediate and then in addition to mediating,

1455
01:59:11.199 --> 01:59:16.399
they can write it up. Okay. Okay, So that's a good

1456
01:59:16.520 --> 01:59:25.119
thing and it will save you a
ton of money. Okay, So I

1457
01:59:25.319 --> 01:59:29.520
love I love that you're doing it. In fact, I have a recommendation

1458
01:59:29.760 --> 01:59:34.600
for you. His name is Lawrence
King. Okay. Now, he's a

1459
01:59:34.680 --> 01:59:42.960
great guy. He's an attorney mediator
and it's called divorce resolutions. Okay,

1460
01:59:44.039 --> 01:59:48.600
now let me tell you something.
Divorce. Yeah, divorce resolutions. He's

1461
01:59:48.640 --> 01:59:53.840
not on my referral list. But
the guy's a great guy and he's we

1462
01:59:53.920 --> 02:00:00.239
don't really have people that do mediation. Well we kind of do and kind

1463
02:00:00.239 --> 02:00:04.119
of don't. They They mainly do. They mainly do divorces. But anyway,

1464
02:00:04.239 --> 02:00:08.199
Larry, that's all Larry does.
That's all he does. So here's

1465
02:00:08.279 --> 02:00:19.760
what it is. It's three oh
three six five zero seventeen fifty. Now,

1466
02:00:19.960 --> 02:00:24.479
if one of you get an attorney, it can be really weird.

1467
02:00:24.840 --> 02:00:29.079
So if you either both get an
attorney or both don't have an attorney,

1468
02:00:29.359 --> 02:00:36.399
is fine. But so that's what
you really want to do is file there,

1469
02:00:36.640 --> 02:00:43.880
save yourself some money. Okay,
call today. I mean that's one

1470
02:00:43.920 --> 02:00:45.079
thing you taught me, like,
don't do nothing, don't unless you know

1471
02:00:45.119 --> 02:00:48.359
what I mean. Calls it first, yeah, yeah, call. In

1472
02:00:48.479 --> 02:00:51.680
fact, it's yeah, you want
to do that. Now, He's not

1473
02:00:51.880 --> 02:00:56.199
going to talk to you alone,
So when you call, you just say,

1474
02:00:56.279 --> 02:00:59.239
look, I'm calling for both of
us, and you know because he

1475
02:00:59.319 --> 02:01:05.319
won't talk talk about your case with
you alone ever, so you don't ask

1476
02:01:05.520 --> 02:01:10.399
him, for example, should I
wait to buy my house? He cannot

1477
02:01:10.439 --> 02:01:14.560
give you advice on that. He
can only help you with stuff you guys

1478
02:01:14.640 --> 02:01:18.840
already have and want to dispose of
when you eyes are together. That's what

1479
02:01:19.039 --> 02:01:26.319
mediation is, Okay. Otherwise you
create a conflict of interest and it spoils

1480
02:01:26.399 --> 02:01:31.680
the whole relationship. Okay, okay, sure thing, And I wish you

1481
02:01:31.760 --> 02:01:34.600
well. I hope everything goes well. Sorry, this is happening, I

1482
02:01:34.680 --> 02:01:40.600
guess, but sometimes it's inevitable.
Three oh three seven one three eight two

1483
02:01:40.920 --> 02:01:45.000
five five. Now what's your question
for mackenzie, For Dan McKenzie, Steve,

1484
02:01:45.359 --> 02:01:53.680
what do you have? So my
father left my brother and I a

1485
02:01:53.920 --> 02:01:59.800
condo and a trust that goes on
forever and never and never. My brother

1486
02:02:00.760 --> 02:02:03.960
go with a sure thing Denver's Best
roofer Excel roofing dot com. You don't

1487
02:02:04.000 --> 02:02:11.960
pay a cent until you're content.
Time for an insurance checkup free, no

1488
02:02:12.039 --> 02:02:16.960
obligation comparison call Compass Insurance paying too
much your coverage at dozens of insurance companies

1489
02:02:17.079 --> 02:02:20.479
find out now three all three seven
seven to one help. You'll think you're

1490
02:02:20.520 --> 02:02:25.399
his only customer when you choose Frank
durand the real estate Man dot com to

1491
02:02:25.520 --> 02:02:30.199
list your home with Remax Alliance three
all three nine two zero sixteen twenty two.

1492
02:02:33.039 --> 02:02:36.640
Hi Tom Marks, you know you're
three oh three seven one three talk

1493
02:02:36.720 --> 02:02:42.640
three oh three seven one three eight
two five five. Let's talk. What's

1494
02:02:42.720 --> 02:02:48.239
going on in your life? Janice? What's happening with your employment? What's

1495
02:02:48.319 --> 02:02:53.279
going on? Janis? I'm a
gig worker. I drive for a company

1496
02:02:53.359 --> 02:02:58.159
and I'm contracted through them. And
Friday I went to clock in and I

1497
02:02:58.279 --> 02:03:00.279
received the text saying that I needed
to check my inbox. So I did

1498
02:03:00.840 --> 02:03:08.520
and it was a termination email immediately
affected immediately and that I've been dealing from

1499
02:03:08.560 --> 02:03:15.399
who from the from go puff?
What is that? It's a delivery service.

1500
02:03:15.439 --> 02:03:19.399
We deliver anything, Okay, order
within Oh really so they deliver any

1501
02:03:19.640 --> 02:03:27.239
They basically deliver anything. Yeah,
pretty much. At my facility I work

1502
02:03:27.279 --> 02:03:30.760
at, we don't do alcohol,
but we do tobacco. And vade to

1503
02:03:30.920 --> 02:03:35.000
the morning after pill and everything in
between. Wow, So so okay,

1504
02:03:35.479 --> 02:03:41.319
So anyway, you just simply got
noticed one day you're no longer with us,

1505
02:03:42.520 --> 02:03:48.119
right, and they they gave a
reason. What is it? Theft?

1506
02:03:50.279 --> 02:03:59.000
Theft area they're accusing you of stealing
and multiple occasions I have engaged in

1507
02:03:59.079 --> 02:04:04.760
this activity, they say, And
what do they give specifics? No,

1508
02:04:05.039 --> 02:04:09.239
and they won't give me any information. And everything's done through email, they

1509
02:04:09.319 --> 02:04:13.399
have no phone contact. But yet
they give me the right to appeal and

1510
02:04:13.520 --> 02:04:16.640
dispute it in one hundred and sixty
eight hours to do that. But yet

1511
02:04:16.720 --> 02:04:23.800
I don't know what I'm disputing my
or defending myself against. That's so weird,

1512
02:04:24.920 --> 02:04:29.600
like like you have no idea,
like could it be? Like how

1513
02:04:29.640 --> 02:04:35.039
does it work? Like uber or
lyft? I don't really know because I

1514
02:04:35.079 --> 02:04:40.359
don't know those those situations. This
is what happens is I'm congress, Well,

1515
02:04:40.359 --> 02:04:42.760
what do you mean how do you
get your gigs? Tell me how

1516
02:04:42.800 --> 02:04:47.760
it works. I'm employed by this
company called go Pop who I'm contracted with

1517
02:04:48.119 --> 02:04:55.960
GP Logics LLC. And that's who
my contracts with. But my dealings are

1518
02:04:56.000 --> 02:05:00.239
all done with go Drive. That's
the app and everything is done through the

1519
02:05:00.359 --> 02:05:02.479
app. And I go to the
warehouse where I normally work. You can

1520
02:05:02.640 --> 02:05:05.720
work on ten ninety nine, so
I can work three two other warehouses.

1521
02:05:05.720 --> 02:05:12.319
I work just one in Westminster.
And you go there, you clock in

1522
02:05:13.039 --> 02:05:15.039
and then you wait, wait,
do you have to go physically to a

1523
02:05:15.119 --> 02:05:20.439
location to clock in? No,
you through the app, but you have

1524
02:05:20.520 --> 02:05:25.600
to be so close to it to
clock in? Well, so close to

1525
02:05:25.800 --> 02:05:30.479
what? What do you mean so
close to the facility? Oh? Really?

1526
02:05:30.960 --> 02:05:34.079
So so what why why do you
have to be close to this facility?

1527
02:05:35.079 --> 02:05:39.359
That's not where you pick up your
stuff, is it? Yeah?

1528
02:05:40.159 --> 02:05:47.439
Oh, so you to make deliveries
just for one supplier, for a one

1529
02:05:47.520 --> 02:05:53.680
warehouse. Yeah, that's what I
mean. And at this warehouse they have

1530
02:05:53.960 --> 02:05:57.680
all of the products they deliver.
It's like being for an Amazon place.

1531
02:05:57.800 --> 02:06:01.359
I mean it's one warehouse. Yeah
yeah, okay, God refer to it.

1532
02:06:01.760 --> 02:06:08.520
Yeah yeah. And so I you
clocked in and then you're receiving an

1533
02:06:08.560 --> 02:06:14.680
offer via text to the app,
and you accept it or you don't accept

1534
02:06:14.720 --> 02:06:18.359
it. You accept that. You
go in, you scan the order,

1535
02:06:18.960 --> 02:06:23.960
which is usually bagged because we pulled
another product. It's all pulled for us

1536
02:06:24.199 --> 02:06:27.680
and bagged and everything's ready to go. My job is I tick it up

1537
02:06:27.920 --> 02:06:32.000
and I deliver and that's okay.
And then one day they said you're gone,

1538
02:06:33.359 --> 02:06:39.159
so are they? Well, Janice, have you ever stolen anything when

1539
02:06:39.199 --> 02:06:43.520
you were at the warehouse? No? And I've never stolen anything from a

1540
02:06:43.600 --> 02:06:48.159
package in my vehicle from the warehouse, and I've returned everything that's been canceled.

1541
02:06:48.319 --> 02:06:54.039
Well that's your defense. Then you'd
simply say you have never ever taken

1542
02:06:54.319 --> 02:06:58.760
anything at all. I have said
that and everything, and then they tell

1543
02:06:58.840 --> 02:07:02.800
me that, and I would like
I asked them about an investigation, because

1544
02:07:02.920 --> 02:07:05.760
well to appeal, right, you
asked them to appeal and what did they

1545
02:07:05.880 --> 02:07:10.920
say, right? And they said
they don't. Let mean, I took

1546
02:07:11.039 --> 02:07:18.479
notes because it's all in emails.
Sure it says a material reach in the

1547
02:07:18.560 --> 02:07:31.199
Greek that they don't discuss internal investigations
are termination or post termination things. But

1548
02:07:31.279 --> 02:07:34.560
yet we're going to appeal it.
But then they give me the right to

1549
02:07:34.640 --> 02:07:40.880
appeal it. I'm so confused.
I'm so in shock. I don't blame

1550
02:07:41.000 --> 02:07:44.079
you, but man, I mean, it would have been better for them

1551
02:07:44.239 --> 02:07:49.319
just to say we don't want you
anymore, or where you don't measure up

1552
02:07:49.439 --> 02:07:53.760
or something. In other words,
why did they go ahead and give you

1553
02:07:53.880 --> 02:07:57.880
a reason like that? That's crazy. Yeah. And here's another thing,

1554
02:07:58.000 --> 02:08:01.640
Tom, I've worked there four years, over twelve thousand deliveries under my belt.

1555
02:08:03.359 --> 02:08:07.079
Oh, I've never even heard of
this place. So by the name

1556
02:08:07.159 --> 02:08:13.439
of it Go Puff, I can
assume they only deal with marijuana and vaping

1557
02:08:13.600 --> 02:08:18.119
and all of that stuff. No, no, no, no, we

1558
02:08:18.239 --> 02:08:20.760
don't do any marijuana. They do
well, I don't mean marijuana itself,

1559
02:08:20.880 --> 02:08:28.039
but the paraphernalia I don't know.
Well, do you sell vape pens?

1560
02:08:28.079 --> 02:08:33.920
Do you sell vape Do you sell
those? Okay? And then you sell

1561
02:08:35.119 --> 02:08:39.279
all of the vape juices? Yeah, I believe, so we sell what

1562
02:08:39.560 --> 02:08:48.399
they Yeah, and you sell.
It's like a huge truck stop. Do

1563
02:08:48.560 --> 02:08:52.880
you want? You can get there? But when you go to that is

1564
02:08:52.920 --> 02:08:58.199
there any Are there any people at
the warehouse you can talk to? Yes?

1565
02:08:58.359 --> 02:09:03.680
And no. Because they are employees
of Go Puff. They're totally different

1566
02:09:03.720 --> 02:09:09.640
than what we are there, cause
Go Puff and go Drive are two different

1567
02:09:09.680 --> 02:09:13.800
things because we're independent, of course, but not all of us are independent

1568
02:09:13.920 --> 02:09:18.319
drivers. But they can't tell us
anything. And there's a manager, but

1569
02:09:18.479 --> 02:09:24.359
they manage at least two other facilities, so they're never there and there's no

1570
02:09:24.520 --> 02:09:28.800
ship leading there. Where is go
drive located? It's an app, It's

1571
02:09:28.880 --> 02:09:35.239
in Philadelphia? And is that where
your email's coming from? The go drive

1572
02:09:35.319 --> 02:09:41.920
people? Go Puff support or go
Drive? Yeah, well, which one

1573
02:09:43.000 --> 02:09:46.439
is it? It's let's see,
I don't know. I should check then,

1574
02:09:48.000 --> 02:09:50.600
all right, listen, I got
to take a break. Janis.

1575
02:09:50.760 --> 02:09:54.159
I don't want to cut you loose, unless I mean I would like to

1576
02:09:54.319 --> 02:10:00.920
try to find out. Yeah,
well, hold on, real quick question.

1577
02:10:01.479 --> 02:10:11.159
Are there any phone numbers for these
people? Nor? Thanks? All

1578
02:10:11.239 --> 02:10:16.239
right, hang on, hang on, and Kaschina Kachina. I want to

1579
02:10:16.239 --> 02:10:22.199
get her back on tomorrow where we
can ask people if they've had similar experiences,

1580
02:10:22.600 --> 02:10:24.880
because we're getting toward the end of
the show and I want to take

1581
02:10:24.960 --> 02:10:31.520
Frank right after this. I'm Tom
Martine Go with a sure thing Denver's Best

1582
02:10:31.600 --> 02:10:35.640
roofer Excel roofing dot com. You
don't pay a cent until you're content.

1583
02:10:39.000 --> 02:10:41.520
Time for an insurance check up free, no obligation. In comparison, call

1584
02:10:41.680 --> 02:10:46.600
Compass insurance paying too much your coverage
at dozens of insurance companies find out now

1585
02:10:46.720 --> 02:10:50.960
three O three seven to seven to
one help. You'll think you're his only

1586
02:10:50.079 --> 02:10:54.880
customer when you choose Frank durand the
real estate man dot com to list your

1587
02:10:54.960 --> 02:11:03.720
home with Remax Alliance three oh three
nine two zero sixteen twenty two. Hi

1588
02:11:03.880 --> 02:11:09.520
Tom Martino, your troubleshooter three zero
three, seven to one to three talk

1589
02:11:09.800 --> 02:11:13.000
Frank, go ahead, what's going
on? Frank? Tom? I know

1590
02:11:13.119 --> 02:11:16.039
you address this before, but I'm
want to ring it up again because I

1591
02:11:16.159 --> 02:11:20.720
got a letter from Excel Energy Big
so did I, So did I.

1592
02:11:20.800 --> 02:11:26.039
They're offering these home warranties again.
Exactly, they suck. What do you

1593
02:11:26.159 --> 02:11:28.479
can you believe that? Though I
mean I believed they want to make money,

1594
02:11:28.520 --> 02:11:31.119
I can believe it. There's nothing
wrong with those. But here's the

1595
02:11:31.119 --> 02:11:35.560
bottom line. They will not tell
you what is covered or not covered until

1596
02:11:35.600 --> 02:11:41.039
you have a claim. Look,
it's the same with every single every single

1597
02:11:41.640 --> 02:11:48.439
appliance or home warranty is the same. They suck because and again you can

1598
02:11:48.479 --> 02:11:52.279
call back and we can get you
on tomorrow. But they make you pay

1599
02:11:52.359 --> 02:11:56.600
based on what you have in the
house, but don't tell you if it's

1600
02:11:56.680 --> 02:12:00.439
covered or not because you have to
wait for it to break down for them

1601
02:12:00.479 --> 02:12:03.800
to evaluate it. To see if
it was pre existing. By the way,

1602
02:12:05.079 --> 02:12:09.800
Dan mackenzie Mackenzie Law COO plans dot
CO. Don't forget three O three

1603
02:12:09.960 --> 02:12:13.399
Martino Call twenty four to seven