WEBVTT 1 00:00:05.160 --> 00:00:14.080 Ripped news who you don't have, come running just as 2 00:00:14.119 --> 00:00:17.719 fast as we can. Shooter's gonna help. 3 00:00:18.000 --> 00:00:20.839 Come man, this is. 4 00:00:20.719 --> 00:00:25.440 The Troubleshooter Show now, Tom Martine, Welcome. 5 00:00:25.039 --> 00:00:28.120 Welcome, my friends to the only show of its kind. 6 00:00:28.120 --> 00:00:31.239 We're here to solve problems, answer questions, our goals, to 7 00:00:31.320 --> 00:00:33.520 make your life just a little bit better. In fact, 8 00:00:33.520 --> 00:00:37.880 to the tune of over three hundred million dollars in cash, merchandise, 9 00:00:38.000 --> 00:00:40.119 exchanges and refunds. 10 00:00:39.679 --> 00:00:41.039 Directly due to this show. 11 00:00:41.439 --> 00:00:43.520 You got a problem with the contractor, a problem with 12 00:00:43.560 --> 00:00:46.079 the landlord, a problem with an attorney, a problem with 13 00:00:46.119 --> 00:00:46.719 a dentist. 14 00:00:47.119 --> 00:00:48.520 We really don't care what it is. 15 00:00:48.560 --> 00:00:51.439 We want to help you either recoup money or try 16 00:00:51.439 --> 00:00:53.719 to at least get the problem solved. We've got a 17 00:00:53.799 --> 00:00:57.759 list of experts at referral lists dot com that help 18 00:00:58.399 --> 00:01:01.399 in this task. We call them up as experts. We 19 00:01:01.439 --> 00:01:02.200 have them in studio. 20 00:01:02.240 --> 00:01:04.920 In fact, today in studio with me, we have. 21 00:01:04.879 --> 00:01:07.840 A referral list member of a long time now attorney, 22 00:01:07.920 --> 00:01:08.920 Dan McKenzie. 23 00:01:09.439 --> 00:01:10.840 In fact, I love your phone number. 24 00:01:10.920 --> 00:01:11.079 Dan. 25 00:01:11.120 --> 00:01:12.680 First of all, how are you doing this morning? 26 00:01:12.719 --> 00:01:12.879 Man? 27 00:01:13.000 --> 00:01:13.359 I'm good? 28 00:01:13.400 --> 00:01:15.280 Are you I am doing good? 29 00:01:15.359 --> 00:01:15.560 Sir? 30 00:01:16.519 --> 00:01:19.519 I love your phone number. Eight three three co plans. 31 00:01:19.519 --> 00:01:20.599 How long have you had that? 32 00:01:21.159 --> 00:01:21.799 A couple of years? 33 00:01:21.840 --> 00:01:24.760 I think, God, that's it. That was incredible. You got that? 34 00:01:24.920 --> 00:01:25.239 Yeah. 35 00:01:25.319 --> 00:01:26.319 I guess after they. 36 00:01:26.200 --> 00:01:28.319 Opened up eight hundred and eight eighty eight to a 37 00:01:28.359 --> 00:01:31.319 lot of other toll freeze, things started coming along and 38 00:01:31.359 --> 00:01:34.079 a lot of people could grab stuff like that. Hey, 39 00:01:34.480 --> 00:01:37.519 So when we talk about what you do for a living, 40 00:01:37.560 --> 00:01:40.120 we're talking probate, we're talking wheels, trusts. 41 00:01:40.439 --> 00:01:42.359 What is the most you do? Meaning? 42 00:01:42.400 --> 00:01:44.680 What is your average call? I might have asked you 43 00:01:44.719 --> 00:01:48.319 this before, but what is your typical job someone calls 44 00:01:48.319 --> 00:01:50.719 you up? Is it a couple that just had kids? 45 00:01:51.040 --> 00:01:53.959 Is it someone in their late sixties? Is it all 46 00:01:54.040 --> 00:01:57.519 of the above? But you still must have you know 47 00:01:57.719 --> 00:01:59.640 the top of the line. But hold on, I want 48 00:01:59.640 --> 00:02:01.840 you to die. Just sat real quick. But three o 49 00:02:01.959 --> 00:02:05.120 three seven one three a two five five. Anybody out 50 00:02:05.159 --> 00:02:07.920 there with any issues, don't forget three oho three Martino. 51 00:02:08.000 --> 00:02:10.759 We have open lines right now. I will always tell 52 00:02:10.800 --> 00:02:14.080 people when we have open lines three oh three Martino, 53 00:02:14.520 --> 00:02:17.000 any issues you have three oh three seven one three 54 00:02:17.000 --> 00:02:20.719 A two five five. Also we have got Deputy Dmitri. 55 00:02:21.240 --> 00:02:25.319 I always say Deputy Scott. But Deputy dollar. I appreciate 56 00:02:25.360 --> 00:02:28.639 you guys being in of course, Kelly, Suzanne's with us today, 57 00:02:28.919 --> 00:02:31.280 Shannon behind the board three oh three Martino. 58 00:02:31.560 --> 00:02:33.199 So, Dan, what is your average call? 59 00:02:33.879 --> 00:02:36.159 I would say probably in addition to the family, so 60 00:02:36.199 --> 00:02:40.000 as people have had a baby or uh. It's funny 61 00:02:40.159 --> 00:02:42.240 people who have gone on trips recently are about to 62 00:02:42.240 --> 00:02:44.080 go on a trip, they start to think about, you know, 63 00:02:44.120 --> 00:02:44.879 what happens if. 64 00:02:45.039 --> 00:02:47.000 The airplane courhouse boy. 65 00:02:47.039 --> 00:02:50.039 That is kind of funny. Actually, I have thought that. 66 00:02:50.120 --> 00:02:53.479 In fact, Suzanne and I have definitely done that. We've 67 00:02:53.479 --> 00:02:56.479 been married over thirty one years, and almost every time 68 00:02:56.520 --> 00:02:59.680 we go on at least a long trip, you start going, okay, 69 00:02:59.680 --> 00:03:01.800 as every thing in order? Yeah, what do you think 70 00:03:01.840 --> 00:03:04.879 of people that make a list of everything forget about 71 00:03:05.000 --> 00:03:07.639 Let's say they do have a will, but they you 72 00:03:07.759 --> 00:03:11.719 still have to know where money's at. I've always wondered this, like, 73 00:03:12.400 --> 00:03:15.479 if you had a bank account somewhere that was in 74 00:03:15.560 --> 00:03:17.879 a different state than you moved and you kind of 75 00:03:17.879 --> 00:03:21.479 forgot you had it, how would anybody ever find that? 76 00:03:21.919 --> 00:03:22.439 Yeah? 77 00:03:22.479 --> 00:03:23.840 Does that happen quite a bit? 78 00:03:23.919 --> 00:03:24.919 Oh yeah, yeah, yeah. 79 00:03:24.960 --> 00:03:26.960 I mean you know, you're you're familiar with the what 80 00:03:27.039 --> 00:03:29.800 is it the great property thing at Colorado, like they know. 81 00:03:29.840 --> 00:03:32.080 They have to Colorado payback. 82 00:03:32.199 --> 00:03:34.439 Yeah, I mean that's just tons and tons of lost 83 00:03:34.479 --> 00:03:37.800 insurance policies and bank accounts and refunds from comcasts and 84 00:03:37.840 --> 00:03:39.879 everything else. So yes, it happens all the time. There's 85 00:03:39.919 --> 00:03:42.599 not really a centralized location for it. 86 00:03:42.599 --> 00:03:44.159 It does take a bit of detective work. 87 00:03:44.199 --> 00:03:46.560 Sometimes you're looking at credit card bills and saying like, Okay, 88 00:03:46.599 --> 00:03:48.639 I see they have this recurring charge. Where is this 89 00:03:48.719 --> 00:03:51.960 money coming from to pay this? So you can be 90 00:03:52.080 --> 00:03:52.280 in that. 91 00:03:52.439 --> 00:03:55.479 So people who make the lists, I mean that, you know. 92 00:03:55.560 --> 00:03:57.439 I mean, we can put together the will and the trust, 93 00:03:57.560 --> 00:03:59.960 but it's like if you don't tell people where stuff is, 94 00:04:00.199 --> 00:04:02.560 that's the other side of the coin, and it can 95 00:04:02.599 --> 00:04:04.039 be still really a big mess. 96 00:04:04.159 --> 00:04:04.319 Yeah. 97 00:04:04.360 --> 00:04:06.520 I was thinking of all the different accounts I have 98 00:04:07.280 --> 00:04:11.439 just with Schwab. I mean I've probably got like literally 99 00:04:11.599 --> 00:04:15.319 seven to ten accounts with Schwab, and I finally went 100 00:04:15.400 --> 00:04:18.279 over and listed them all out when the AMERI trade 101 00:04:18.319 --> 00:04:20.879 turned into Schwab because I didn't have them when they 102 00:04:20.920 --> 00:04:24.079 were amer trade accounts. And I started thinking, Jesus, Suzanne 103 00:04:24.079 --> 00:04:27.759 and I met our demise on a trip or something. 104 00:04:28.040 --> 00:04:28.560 Our kids. 105 00:04:28.639 --> 00:04:31.120 Know we have schwab accounts, but but where do they 106 00:04:31.199 --> 00:04:32.199 even start on that? 107 00:04:32.439 --> 00:04:35.160 Then they might find one and not even know about 108 00:04:35.160 --> 00:04:35.560 the rest. 109 00:04:35.759 --> 00:04:38.759 And some of them are LLC's that they're not even 110 00:04:38.800 --> 00:04:42.639 attached to our social Security number. Yeah, so, I mean 111 00:04:42.680 --> 00:04:45.079 there's probably a lot of money out there when people 112 00:04:45.160 --> 00:04:48.120 lose their parents and call you and they need help 113 00:04:48.160 --> 00:04:50.720 with probate. Do you is that part of your services 114 00:04:50.959 --> 00:04:53.279 to actually do some of that detective work. 115 00:04:53.360 --> 00:04:55.720 I mean maybe a little bit, But there are companies 116 00:04:55.720 --> 00:04:57.759 that that is what they do. They go out and 117 00:04:57.920 --> 00:05:00.600 I mean it's private investigator actually, you think of private 118 00:05:00.639 --> 00:05:02.759 investigator forensic account Yeah. 119 00:05:02.680 --> 00:05:03.079 Kin ah. 120 00:05:03.160 --> 00:05:03.360 Yeah. 121 00:05:03.439 --> 00:05:05.879 They have access to databases of people and stuff like 122 00:05:05.959 --> 00:05:07.680 that they can use to try and find this stuff. 123 00:05:08.000 --> 00:05:09.800 So when people have kids, so they come to you 124 00:05:09.800 --> 00:05:10.360 a big time. 125 00:05:10.959 --> 00:05:13.240 Yeah, that is a frequent source of people thinking about 126 00:05:13.240 --> 00:05:13.720 this and. 127 00:05:13.680 --> 00:05:15.360 The biggest thing is who's going to take care of 128 00:05:15.360 --> 00:05:19.199 the kids? Right and generally speaking, is it their parents 129 00:05:19.240 --> 00:05:20.879 When it's a younger couple, Yeah. 130 00:05:20.639 --> 00:05:22.959 It usually starts with the parents. Then they come back 131 00:05:23.000 --> 00:05:24.959 about ten years later and say, Okay, these parents are 132 00:05:25.000 --> 00:05:27.519 a little bit older now and not really able to 133 00:05:27.560 --> 00:05:30.040 keep up with a ten year old, so let's move 134 00:05:30.040 --> 00:05:30.639 it to someone else. 135 00:05:30.759 --> 00:05:32.240 That's exactly what happened to us. 136 00:05:32.319 --> 00:05:35.879 And then eventually then they become over eighteen or they 137 00:05:35.879 --> 00:05:38.160 get out of college, depending on the path they took, 138 00:05:38.240 --> 00:05:41.000 and now you have to go back and redo everything 139 00:05:41.360 --> 00:05:43.199 as well, or at least you should go back and 140 00:05:43.240 --> 00:05:44.720 revisit your will or trust. 141 00:05:45.160 --> 00:05:47.639 I mean, I tell people when we're planning for little kids, like, 142 00:05:47.680 --> 00:05:50.399 hopefully this is a huge waste of money. You don't 143 00:05:50.839 --> 00:05:52.800 I mean, we don't want this plan to be the 144 00:05:52.839 --> 00:05:54.199 plan that you die with, all right. I mean it 145 00:05:54.199 --> 00:05:57.199 should be evolving over time as your kids get older 146 00:05:57.240 --> 00:06:00.040 and you get older, and the big accounts change and 147 00:06:00.199 --> 00:06:01.560 you move and all that kind of stuff of this 148 00:06:02.160 --> 00:06:04.120 keep going, all right, So you you got to keep 149 00:06:04.120 --> 00:06:04.600 it up to date. 150 00:06:04.720 --> 00:06:06.399 Yeah, you have to keep it up to date. Now 151 00:06:06.480 --> 00:06:09.399 let's talk real quick on trusts. One of the benefits 152 00:06:09.439 --> 00:06:12.319 of a trust is most likely you won't have to 153 00:06:12.360 --> 00:06:12.959 go to probate. 154 00:06:13.120 --> 00:06:15.600 Right, that's only if everything was put in the trust. 155 00:06:15.839 --> 00:06:16.519 That is the goal. 156 00:06:16.800 --> 00:06:21.240 So can you actually have like a one liner that says, 157 00:06:21.399 --> 00:06:25.240 anything I forgot to have in the trust automatically goes 158 00:06:25.279 --> 00:06:27.199 in the trust. I might say you still have a will, 159 00:06:27.240 --> 00:06:30.319 and the will says that, so really you can't miss anything. 160 00:06:30.360 --> 00:06:34.000 You would give me an idea of when you wouldn't 161 00:06:34.120 --> 00:06:38.199 go around probate not putting something in the trust, or 162 00:06:38.240 --> 00:06:40.439 if it's done right, you simply would not have to 163 00:06:40.439 --> 00:06:41.279 go through probate. 164 00:06:41.800 --> 00:06:45.360 So, as we discussed before, it's like you, usually there 165 00:06:45.360 --> 00:06:46.839 are some things left outside the trust. 166 00:06:46.839 --> 00:06:48.759 We usually do not put cars and trust for example. 167 00:06:48.839 --> 00:06:52.040 Yep, Well, explain to people why is that? Why don't 168 00:06:52.040 --> 00:06:53.920 you put because it's titled it's. 169 00:06:53.959 --> 00:06:56.800 Yeah, the insurance companies don't like having them titled to 170 00:06:56.839 --> 00:06:57.839 things that are not people. 171 00:06:57.959 --> 00:06:58.439 They want to. 172 00:06:58.399 --> 00:07:00.759 Track you, track your driving record, and I think that 173 00:07:00.800 --> 00:07:02.360 makes it harder if it's not titled to you. 174 00:07:03.439 --> 00:07:04.680 And then this is a little bit. 175 00:07:04.519 --> 00:07:07.120 Silly, but just practically speaking, if you get into an 176 00:07:07.120 --> 00:07:09.439 accident with somebody and pull out your registration to share 177 00:07:09.439 --> 00:07:11.399 that information with them and it says trust on it, 178 00:07:12.120 --> 00:07:12.560 you're rich. 179 00:07:13.000 --> 00:07:14.959 Yeah, you're a really rich person. And that's of course 180 00:07:15.000 --> 00:07:15.560 not always thinking. 181 00:07:15.639 --> 00:07:17.639 Yeah, that's a fallacy, but that's kind of funny that 182 00:07:17.720 --> 00:07:18.519 someone would think that. 183 00:07:18.680 --> 00:07:21.519 I guess that's just how it goes. Yeah, So what 184 00:07:21.560 --> 00:07:24.120 else wouldn't you put into a trust bank accounts. 185 00:07:24.160 --> 00:07:25.360 I mean a lot of people leave their day to 186 00:07:25.439 --> 00:07:27.959 day checking accounts out. It's just like you got to 187 00:07:27.959 --> 00:07:30.120 go through and figure out, Okay, I need less than 188 00:07:30.120 --> 00:07:32.120 eighty two thousand dollars in my name because that's the 189 00:07:32.360 --> 00:07:33.720 that is the point at which you do have to 190 00:07:33.759 --> 00:07:34.680 do a probate. 191 00:07:34.600 --> 00:07:39.519 Because because well, or if it's property, right, really two 192 00:07:39.519 --> 00:07:42.839 thousand So but even if it's a parcel of land 193 00:07:42.920 --> 00:07:45.160 that's vacant, it's only worth a couple grand. 194 00:07:45.839 --> 00:07:48.079 Yeah, you can have middle interests that are producing you know, 195 00:07:48.079 --> 00:07:50.560 a twenty dollars check once a year, and that's real estate, 196 00:07:51.000 --> 00:07:52.199 so you're probate. 197 00:07:52.480 --> 00:07:53.600 Yeah, that's kind of crazy. 198 00:07:53.639 --> 00:07:56.360 But anything else, if I I think I learned this 199 00:07:56.480 --> 00:08:00.000 from you, you could do a small not a day, 200 00:08:00.600 --> 00:08:03.920 small state AFFID, smallest state AFFID david so even like 201 00:08:03.959 --> 00:08:05.000 on a vehicle. 202 00:08:05.360 --> 00:08:07.319 Correct and the call out of DMV has its own 203 00:08:07.399 --> 00:08:08.079 version of that form. 204 00:08:08.199 --> 00:08:10.360 And how do you handle bank accounts? I had a 205 00:08:10.480 --> 00:08:13.920 very lengthy conversation with you about bank accounts. And when 206 00:08:13.920 --> 00:08:18.240 you have a bank account, you can just leave a beneficiary. 207 00:08:17.959 --> 00:08:21.399 You can can you leave multiple most banks you can? 208 00:08:21.879 --> 00:08:23.560 Yeah, like in order of preference. 209 00:08:23.639 --> 00:08:26.519 Yeah, like in a chain. Correct, And why do that 210 00:08:26.560 --> 00:08:28.839 instead of put into a trust? I would say, because 211 00:08:28.839 --> 00:08:30.399 it's a pain in the ass. You got to order 212 00:08:30.439 --> 00:08:32.799 new checks, you got to do a lot of things. 213 00:08:32.679 --> 00:08:35.240 Right, So yeah, I mean ideally everything's in the trust 214 00:08:35.279 --> 00:08:36.000 if you have a trust. 215 00:08:36.039 --> 00:08:38.519 But to your point, I mean, sometimes it's just a pain. 216 00:08:38.720 --> 00:08:41.279 Well, generally, do you when you do a trust for somebody, 217 00:08:41.279 --> 00:08:43.360 do you have them put the bank accounts into the trust? 218 00:08:43.440 --> 00:08:45.360 I would say most my clients do not do that. 219 00:08:45.440 --> 00:08:45.759 Do not? 220 00:08:46.120 --> 00:08:48.840 How about like if they own a partial interest in 221 00:08:48.840 --> 00:08:52.519 an LLC or a company, yeah, anything besides something like 222 00:08:52.559 --> 00:08:53.200 a sea court. 223 00:08:53.559 --> 00:08:56.639 Typically we would assign that interest to the LLC. You 224 00:08:56.720 --> 00:08:58.799 got to make sure that you're operating an agreement allows it. 225 00:08:58.840 --> 00:08:59.960 But yes, that is. 226 00:09:00.480 --> 00:09:02.480 And that's where it gets crazy. I'm going through that 227 00:09:02.600 --> 00:09:04.519 right now. In fact, Tom and I are both going 228 00:09:04.559 --> 00:09:07.960 through that right now because we did an operating agreement 229 00:09:08.000 --> 00:09:11.519 on a couple things, neither of us thinking of, you know, 230 00:09:11.799 --> 00:09:13.720 putting it into a trust. So now we have to 231 00:09:13.799 --> 00:09:18.240 kind of redo the operating agreement in order to get 232 00:09:18.320 --> 00:09:19.159 to where we want to be. 233 00:09:19.360 --> 00:09:21.399 I mean that's kind of crazy. Does that happen a lot? 234 00:09:21.519 --> 00:09:21.639 Oh? 235 00:09:21.720 --> 00:09:24.399 Yeah, Yeah, most people don't have operating agreements. They set 236 00:09:24.480 --> 00:09:27.159 up the ALC and they don't do it, So there's nothing. 237 00:09:27.000 --> 00:09:29.679 Dimitri, you own a business, have you thought about this? So, 238 00:09:29.799 --> 00:09:31.720 in other words, one of ours. We just took a 239 00:09:31.759 --> 00:09:35.039 boiler plate years ago and we have a company called 240 00:09:35.120 --> 00:09:38.279 lead Bin and lead Bin does some digital advertising. It 241 00:09:38.279 --> 00:09:42.519 does fairly well. So the problem with the operating agreement. 242 00:09:42.919 --> 00:09:45.960 If I die, it goes to Suzanne. But pretty much 243 00:09:46.039 --> 00:09:50.600 any side, anybody outside of Suzanne is where the issue 244 00:09:50.639 --> 00:09:53.159 comes in. I don't even think we talk about our 245 00:09:53.240 --> 00:09:56.120 kids in that. And then the other thing that becomes 246 00:09:56.120 --> 00:09:59.440 a problem is, let's say I don't want to be partners. 247 00:09:59.440 --> 00:10:02.320 This is probably be the biggest part. What ms if 248 00:10:02.320 --> 00:10:04.399 I don't want to be partners with his wife? And 249 00:10:04.600 --> 00:10:07.200 I'm just using this as an example. In other words, 250 00:10:07.519 --> 00:10:10.159 let's pretend it was his ex wife. We don't like 251 00:10:10.240 --> 00:10:12.639 each other at all. I can't even imagine if I 252 00:10:12.679 --> 00:10:14.720 had to deal with that in a million years. So 253 00:10:15.000 --> 00:10:16.840 you know, I would think she might try to throw 254 00:10:16.879 --> 00:10:18.039 monkey ranches at me. 255 00:10:18.480 --> 00:10:20.600 So what do you do in a situation like that? 256 00:10:20.759 --> 00:10:24.120 If you didn't look at it prior, I mean, really, 257 00:10:24.159 --> 00:10:25.919 you Dan, this must come up, Oh it does. 258 00:10:26.000 --> 00:10:26.200 Yeah. 259 00:10:26.200 --> 00:10:28.200 People end up being business partners with people that they 260 00:10:28.240 --> 00:10:28.799 did not pick. 261 00:10:29.159 --> 00:10:30.679 Yeah, and they're forced to do so. 262 00:10:31.639 --> 00:10:35.759 Yeah, guys, isn't there some insurance policy that them can 263 00:10:35.840 --> 00:10:40.399 buy to buy out the unwanted business partner in case 264 00:10:40.440 --> 00:10:41.519 the primary partner died. 265 00:10:41.559 --> 00:10:43.960 Yeah, but if they have operation agreement, they're not doing that. 266 00:10:44.879 --> 00:10:45.080 Yeah. 267 00:10:45.080 --> 00:10:47.320 If it's not in the operating agreement, it's not there. 268 00:10:47.480 --> 00:10:49.320 I think they would do the operating agreement before buying 269 00:10:49.360 --> 00:10:52.000 the insurance policy. Yeah, they're sophisticated enough to buy an 270 00:10:52.039 --> 00:10:53.519 insurance policy, They're probably gonna do not. 271 00:10:53.639 --> 00:10:56.360 But there's problems that come with that. Dimitri, I mean 272 00:10:56.519 --> 00:10:58.879 just age in general. So I mean you have a 273 00:10:58.879 --> 00:11:01.960 partner that's in a sevenventies or eighties getting in key 274 00:11:01.960 --> 00:11:04.720 Man insurance. It's just like it's life insurance. That's all 275 00:11:04.759 --> 00:11:07.399 it is. Think of how hard that is and how 276 00:11:07.480 --> 00:11:10.639 unfair that might be to the other person. Let's say 277 00:11:10.679 --> 00:11:13.679 my insurance in an example, you and I are partners. 278 00:11:13.960 --> 00:11:17.039 My insurance is two thousand a year. Your insurance is 279 00:11:17.080 --> 00:11:19.840 twenty thousand a year. How is that fair of me 280 00:11:20.000 --> 00:11:22.759 to have to pick that up? Even though I'm truly 281 00:11:22.799 --> 00:11:25.240 the beneficiary of it. It's still a lot of money. 282 00:11:25.639 --> 00:11:28.159 I mean, how is that typically handled? Dan, I mean 283 00:11:28.200 --> 00:11:30.279 you must have gotten into these situations. 284 00:11:30.360 --> 00:11:33.159 I mean, so having the cash available is helpful that. Yeah, 285 00:11:33.159 --> 00:11:34.759 there's different ways to set it up. It could be 286 00:11:34.799 --> 00:11:37.840 a direct payment to the estate. That could be usually 287 00:11:37.960 --> 00:11:40.159 then injection into the company, and then the company buys 288 00:11:40.200 --> 00:11:41.639 the shaff the person who passed away. 289 00:11:42.600 --> 00:11:45.200 God, it's complicated, and there's a lot of people out 290 00:11:45.240 --> 00:11:47.360 there right now that have partners that have never thought 291 00:11:47.360 --> 00:11:47.559 of this. 292 00:11:47.759 --> 00:11:49.240 Oh yeah, I think most haven't. 293 00:11:49.519 --> 00:11:50.799 I think most haven't either. 294 00:11:50.879 --> 00:11:54.480 I'm literally looking at stuff and you know, we've been 295 00:11:54.480 --> 00:11:56.799 going through our trust. Here's the problem with the trust. Honestly, 296 00:11:57.320 --> 00:11:59.759 it's a pain in the ass, man. I mean, honestly, 297 00:12:00.039 --> 00:12:01.559 it's a pain in the ass. The kind of stuff 298 00:12:01.639 --> 00:12:03.720 that's the pain in the ass where we're at is 299 00:12:03.720 --> 00:12:06.960 stuff like this. He's operating agreements. Then you go, oh, man, 300 00:12:07.000 --> 00:12:08.799 we never even thought of this when we did the 301 00:12:08.840 --> 00:12:11.720 operating agreement. Now we got to go back and redo 302 00:12:11.840 --> 00:12:16.120 this operating agreement. Get that done. Then we can determine 303 00:12:16.120 --> 00:12:18.120 what's going to happen if one of us dies. I mean, 304 00:12:18.159 --> 00:12:20.559 it's kind of nuts, man, it. 305 00:12:20.600 --> 00:12:23.720 Is it is the price of success, so I guess 306 00:12:23.720 --> 00:12:24.600 so gratulations. 307 00:12:24.759 --> 00:12:25.159 Yeah. 308 00:12:25.320 --> 00:12:26.039 Three oh three. 309 00:12:26.000 --> 00:12:28.720 Seven one three eight two five five. We've got lines open. 310 00:12:28.720 --> 00:12:30.080 I want to hear from you. I got to take 311 00:12:30.120 --> 00:12:32.840 this break. Shannon's shaking his fist like an old man 312 00:12:32.919 --> 00:12:33.960 with kids on the lawn. 313 00:12:38.960 --> 00:12:42.200 Go with a sure thing Denver's best roofer Excel Roofing 314 00:12:42.320 --> 00:12:42.919 dot com. 315 00:12:42.960 --> 00:12:44.960 You don't pay a cent until you're content. 316 00:12:48.320 --> 00:12:51.519 Time for an insurance check up free, no obligation comparison 317 00:12:51.639 --> 00:12:55.200 call Compass Insurance pain too much your coverage at dozens 318 00:12:55.240 --> 00:12:57.960 of insurance companies find out now three oh three seven 319 00:12:58.000 --> 00:13:00.320 to seven to one help. You'll think you're his only 320 00:13:00.399 --> 00:13:02.879 customer when you choose Frank durand the real estate Man 321 00:13:02.919 --> 00:13:06.320 dot com to list your home with Remax Alliance. Three 322 00:13:06.399 --> 00:13:10.039 oh three nine two zero sixteen twenty two. 323 00:13:11.600 --> 00:13:13.919 All right, three oh three seven one three eight two 324 00:13:14.080 --> 00:13:16.840 five five. We do have lines open. You've been ripped 325 00:13:16.840 --> 00:13:19.519 off for taking advantage of I want to hear from 326 00:13:19.559 --> 00:13:21.120 you any comment you have. By the way, I was 327 00:13:21.799 --> 00:13:26.240 somewhat listening to one of the confirmations here. I kind 328 00:13:26.240 --> 00:13:30.639 of forgot how confrontational they are. It's kind of crazy. Man, 329 00:13:30.720 --> 00:13:33.679 I'm in very very political like everything in the world. 330 00:13:33.960 --> 00:13:36.440 But it goes from he's the best guy, he's the 331 00:13:36.480 --> 00:13:38.720 worst guy, he's the best cab he's the worst guy. 332 00:13:38.919 --> 00:13:41.360 And I and I guess that's what we're gonna be 333 00:13:41.440 --> 00:13:43.879 up against for the next X amount of months. Every 334 00:13:43.879 --> 00:13:46.399 time we have a new cabinet come in. I guess 335 00:13:46.440 --> 00:13:50.120 that's how it happens. I think the worst I remember 336 00:13:50.320 --> 00:13:54.080 was Kavanaugh, I guess would be pretty bad. That was 337 00:13:54.120 --> 00:13:58.440 six seven years ago. But all these confirmations are just heated. 338 00:13:58.720 --> 00:14:01.120 Well, this one was already up to this morning. Did 339 00:14:01.120 --> 00:14:02.200 you see the protesters. 340 00:14:02.320 --> 00:14:02.720 I did not. 341 00:14:02.960 --> 00:14:06.159 There was some guy, some weirdo in a pink suit 342 00:14:06.399 --> 00:14:07.799 and some lady that accompanied him. 343 00:14:07.799 --> 00:14:09.320 They stood up and started. 344 00:14:08.919 --> 00:14:11.440 Screaming in a pink suit, Yeah, in a pink suit. 345 00:14:11.879 --> 00:14:14.919 And I couldn't tell what they were screaming, right, Yeah, 346 00:14:15.559 --> 00:14:18.320 but you could tell. And everybody just kind of stopped talking, 347 00:14:18.360 --> 00:14:21.080 and three or four cops came over and got those 348 00:14:21.080 --> 00:14:23.519 people out of the audience, and they went. 349 00:14:23.360 --> 00:14:27.840 On, you know, I'm going up for the uh uh, well, 350 00:14:28.559 --> 00:14:31.519 I'm going up this weekend, wow to Washington. 351 00:14:31.840 --> 00:14:32.320 Geez. 352 00:14:32.519 --> 00:14:37.000 Yeah, you know, I think isn't Ryan going to Kelly. Yes, 353 00:14:37.320 --> 00:14:39.120 did he get tickets? Is he going in? 354 00:14:39.519 --> 00:14:39.679 Oh? 355 00:14:39.679 --> 00:14:40.919 Well, he's got a press pass. 356 00:14:40.960 --> 00:14:44.159 He's actually going as a member of KAA. 357 00:14:44.480 --> 00:14:49.360 Yeah, I'm going with some friends. But we've got tickets, 358 00:14:49.399 --> 00:14:50.320 but I. 359 00:14:50.240 --> 00:14:52.600 Don't have a press pass for it. That would be 360 00:14:52.639 --> 00:14:54.840 weird anyhow, because my friends would be over in a 361 00:14:54.960 --> 00:14:58.799 whole different section. But it's kind of crazy, Dave Dan 362 00:14:58.960 --> 00:15:01.759 McKenzie three or three seven three two five five, We 363 00:15:01.799 --> 00:15:04.279 do have lines open three oh three, Martino, What other 364 00:15:05.240 --> 00:15:09.000 nuggets can you put out there for younger couples? I mean, 365 00:15:09.480 --> 00:15:11.799 if you don't have at what point do you cross 366 00:15:11.879 --> 00:15:13.240 over from a simple will? 367 00:15:13.799 --> 00:15:15.759 Because you have kids and maybe you live. 368 00:15:15.639 --> 00:15:18.039 In an apartment. I would assume that would be a 369 00:15:18.080 --> 00:15:20.600 simple will. I mean, is that part correct or that 370 00:15:20.679 --> 00:15:21.919 could still go either way? 371 00:15:22.480 --> 00:15:23.240 It could still go either. 372 00:15:23.320 --> 00:15:24.559 I mean the issue that you have when you have 373 00:15:24.600 --> 00:15:26.600 little kids is not just their day to day care, 374 00:15:26.639 --> 00:15:28.480 but also the care of the money, like who is 375 00:15:28.519 --> 00:15:30.720 taking care of the money and what are the instructions 376 00:15:30.759 --> 00:15:33.200 to when to distribute to those kids? 377 00:15:33.200 --> 00:15:35.080 Wudna be in the will though? Is that in a will? 378 00:15:35.879 --> 00:15:37.960 I mean, so the will if you have kids, you 379 00:15:37.960 --> 00:15:40.240 can't leave money directly to miners, right, So you've got 380 00:15:40.279 --> 00:15:42.159 to put something in there about a trust. So if 381 00:15:42.200 --> 00:15:44.799 you have little kids, you're already into trust territory. Doesn't 382 00:15:44.919 --> 00:15:46.919 mean you have to set up a trust right now, 383 00:15:47.440 --> 00:15:49.600 but your will should at least have trust provisions saying 384 00:15:49.639 --> 00:15:52.320 here's the adult who's going to hold this money for 385 00:15:52.519 --> 00:15:54.320 this kids. So probably the thing we see that most 386 00:15:54.360 --> 00:15:57.320 often that is problematic is people have a life insurance policy, 387 00:15:57.360 --> 00:16:01.039 for example, Oh, and they say it's the beneficial in 388 00:16:01.159 --> 00:16:04.000 it is my brother and they have little kids. My 389 00:16:04.080 --> 00:16:06.639 brother knows that this money is for my kid and 390 00:16:06.679 --> 00:16:08.519 he's going to take care of it. It's like, okay, 391 00:16:09.720 --> 00:16:12.159 is the irs in on this conversation? I mean or 392 00:16:12.159 --> 00:16:14.879 other you know, is if your brother gets divorced, is 393 00:16:14.919 --> 00:16:17.440 his wife in in that conversation? Because all that money 394 00:16:17.480 --> 00:16:19.879 is in his bank account, right, So like to the world, 395 00:16:20.399 --> 00:16:22.440 that money is his money, and if he runs in 396 00:16:22.480 --> 00:16:26.279 any tax problems, credit or problems like that, no one's 397 00:16:26.399 --> 00:16:27.600 no one's going to be like, oh is that for 398 00:16:27.679 --> 00:16:28.159 your nephew. 399 00:16:28.320 --> 00:16:29.799 Okay, well then we won't go after it. 400 00:16:30.000 --> 00:16:32.559 So so what would be the safest way to set 401 00:16:32.600 --> 00:16:34.200 that up so that doesn't happen? 402 00:16:34.240 --> 00:16:36.200 In your kid's turn got to have a teen. 403 00:16:36.159 --> 00:16:37.919 It's got to be clear that the brother is holding 404 00:16:37.960 --> 00:16:40.480 that money in trust for the kid, and it's like 405 00:16:40.559 --> 00:16:41.519 he's in control of it. 406 00:16:41.519 --> 00:16:43.080 It's not legally his money. 407 00:16:43.240 --> 00:16:46.120 So if the trust isn't there and just the will 408 00:16:46.240 --> 00:16:50.320 saying this guy gets the kids, the money's going to 409 00:16:50.399 --> 00:16:53.200 go to them anyhow. But the trust isn't set up 410 00:16:53.240 --> 00:16:54.799 to define what the money's for. 411 00:16:55.559 --> 00:16:57.519 I mean, there's no instructions to the brother about what 412 00:16:57.519 --> 00:17:00.279 what's appropriate to use. And hopefully you know you have 413 00:17:00.440 --> 00:17:03.039 enough money that it actually gets them past eighteen when 414 00:17:03.039 --> 00:17:05.160 they have a guardian. And now the brothers having to decide, 415 00:17:05.160 --> 00:17:06.880 like the kids coming to them directly and saying I 416 00:17:06.960 --> 00:17:10.200 need a car, I need tuition, I need whatever. What 417 00:17:10.359 --> 00:17:12.319 are the instructions to him if you've just given him 418 00:17:12.319 --> 00:17:14.599 the life insurance policy and now the kids are like, well, really, 419 00:17:14.599 --> 00:17:16.759 that's our money, and the brothers kind of like, no, 420 00:17:16.839 --> 00:17:19.319 I don't really like the way you're you know. 421 00:17:19.240 --> 00:17:21.000 Playing video games all the time, so I'm not gonna 422 00:17:21.000 --> 00:17:21.359 give it to you. 423 00:17:22.160 --> 00:17:22.400 Now. 424 00:17:22.519 --> 00:17:25.200 Do people hire companies? I know they do, but you 425 00:17:25.279 --> 00:17:29.119 suggest it where they hire companies to actually take care 426 00:17:29.119 --> 00:17:31.119 of the money or now we're starting to talk about 427 00:17:31.160 --> 00:17:33.200 a lot of money. So in other words, the kids 428 00:17:33.279 --> 00:17:35.000 go to the brother in law, but the brother in 429 00:17:35.079 --> 00:17:37.720 law doesn't have access to the money. It's really not 430 00:17:37.799 --> 00:17:40.839 in his account, if you will, it's sitting with a 431 00:17:41.039 --> 00:17:43.960 financial advisor, for lack of a better term, somewhere. 432 00:17:44.799 --> 00:17:48.759 Well the courts, yeah, I mean the courts. The courts. 433 00:17:48.519 --> 00:17:50.759 That happens if you don't have a trust, you leave 434 00:17:50.799 --> 00:17:53.400 money directly to a kid who's five, for example, the 435 00:17:53.480 --> 00:17:55.279 court is going to have to appoint a conservator to 436 00:17:55.319 --> 00:17:56.119 manage that money. 437 00:17:55.960 --> 00:17:56.400 For the kid. 438 00:17:56.759 --> 00:17:58.599 But that can cost a fortune, right. 439 00:17:58.519 --> 00:18:01.720 It's that big pain to get a conservatorship in place, 440 00:18:02.319 --> 00:18:03.920 and it gets monitored every year. 441 00:18:04.039 --> 00:18:05.680 You know, you got to file reports. 442 00:18:05.759 --> 00:18:08.000 You might have the money restricted, meaning you can't actually 443 00:18:08.039 --> 00:18:10.000 spend it until you get court approval to do so. 444 00:18:10.000 --> 00:18:12.359 So that's a pain in the butt. Se you want 445 00:18:12.359 --> 00:18:14.599 to avoid all this. You want to avoid all this if. 446 00:18:14.519 --> 00:18:16.680 You set something up in the trust. We did when 447 00:18:16.680 --> 00:18:19.400 our kids were under eighteen. So in other words, if 448 00:18:19.440 --> 00:18:22.079 they wanted to spend money on college, they could have 449 00:18:22.119 --> 00:18:24.559 access to it. If they wanted to spend money on 450 00:18:24.640 --> 00:18:26.799 a trade school, they could have access to it. There 451 00:18:26.880 --> 00:18:30.079 was different things. And I assume this is pretty basic stuff. 452 00:18:30.519 --> 00:18:33.960 But when they hit a certain milestone, say twenty five 453 00:18:34.079 --> 00:18:36.799 or twenty eight, then they would have access to more. 454 00:18:37.160 --> 00:18:39.759 Then when they hit thirty one or whatever we had. 455 00:18:39.799 --> 00:18:42.359 This is going back a ways, then they would have 456 00:18:42.400 --> 00:18:45.680 access to whatever they want. So if they had an 457 00:18:45.880 --> 00:18:48.440 argument about that, Let's say we both passed and they 458 00:18:48.480 --> 00:18:51.079 were twenty five and they were getting half, but they 459 00:18:51.200 --> 00:18:52.559 really need the full amount. 460 00:18:52.680 --> 00:18:55.640 I have no idea what the justification is. 461 00:18:55.640 --> 00:18:59.279 Is there a route they can ask a judge to 462 00:18:59.400 --> 00:19:00.720 give them the full amount? 463 00:19:01.000 --> 00:19:02.279 You can always ask a judge. 464 00:19:02.359 --> 00:19:03.480 So does it. 465 00:19:03.440 --> 00:19:05.599 Happen a lot? A lot? 466 00:19:05.759 --> 00:19:08.559 And the importantly not asking, but does it happen a 467 00:19:08.599 --> 00:19:09.359 lot they get it? 468 00:19:10.279 --> 00:19:10.480 Oh? 469 00:19:10.519 --> 00:19:12.160 Boy? It depends on a million factors. 470 00:19:12.319 --> 00:19:14.559 So, I mean, sometimes the trustee is right that it's 471 00:19:14.559 --> 00:19:16.799 not appropriate to distribute, and sometimes the kid is right. 472 00:19:16.839 --> 00:19:18.240 I mean we've seen it go or the kid is 473 00:19:18.279 --> 00:19:20.559 asking for money and really live at hand in mouth 474 00:19:20.599 --> 00:19:23.039 and the trustee is just real hard about it and 475 00:19:23.079 --> 00:19:24.119 they're inappropriate. 476 00:19:24.119 --> 00:19:27.680 You out, they're way too hard about it. So yeah, 477 00:19:27.720 --> 00:19:29.079 trustees sometimes lose that fight. 478 00:19:29.759 --> 00:19:32.200 Yeah, and then it's totally up to a judge. 479 00:19:32.839 --> 00:19:33.480 Yeah. 480 00:19:33.519 --> 00:19:36.880 God, that's kind of scary because you would think whatever 481 00:19:36.920 --> 00:19:40.440 you put into the trust. Now, how about irrevocable. If 482 00:19:40.480 --> 00:19:44.359 it's an irrevocable trust and both parties, well, first of all, 483 00:19:44.359 --> 00:19:46.440 the difference is pretty straightforward. 484 00:19:46.519 --> 00:19:48.880 One you can change, the other you can't change. 485 00:19:49.119 --> 00:19:50.880 Yeah, if we're talking about a kid, a trust that 486 00:19:50.960 --> 00:19:53.079 was set up for a kid, that isn't irvocal trust. 487 00:19:53.200 --> 00:19:55.279 Like your trust that you set up for yourself during 488 00:19:55.279 --> 00:19:58.799 your lifetime is he revocable trust. But for the most part, 489 00:19:59.079 --> 00:20:01.759 any trust that has created after someone has passed away 490 00:20:01.839 --> 00:20:03.720 is known your vocal trust. Because if you're in let's 491 00:20:03.759 --> 00:20:05.359 change it, they would you know, we wouldn't do this. 492 00:20:05.480 --> 00:20:08.079 Yeah, But if I create an irrevocable trust right now, 493 00:20:08.119 --> 00:20:10.599 like let's say I had a caretaker that was taking 494 00:20:10.640 --> 00:20:12.319 care of me, tell me if this is a reason 495 00:20:12.359 --> 00:20:15.279 people set it up and that person isn't getting paid. 496 00:20:15.319 --> 00:20:17.759 They live with me, But when I pass, I'm going 497 00:20:17.799 --> 00:20:19.200 to give them a lump sum of money. 498 00:20:19.200 --> 00:20:20.440 That's kind of the deal we have. 499 00:20:20.759 --> 00:20:23.359 That would be a reason to set up in irrevocable 500 00:20:23.400 --> 00:20:26.119 trust because at the last minute, I can't change my 501 00:20:26.240 --> 00:20:28.839 mind and not pay them for all the years of care. 502 00:20:29.319 --> 00:20:32.160 Uh yeah, that uh, that caretaker might want to make 503 00:20:32.160 --> 00:20:33.720 sure that that I mean that you know there'd be 504 00:20:33.720 --> 00:20:35.359 a couple whether you could have a contract or a 505 00:20:35.400 --> 00:20:36.319 note or something like that. 506 00:20:37.279 --> 00:20:39.200 Well, give me an idea of why someone would do 507 00:20:39.440 --> 00:20:41.039 I got to take the break, but I'd like an 508 00:20:41.079 --> 00:20:45.039 idea of why someone would do an erevocable trust old tight. 509 00:20:49.759 --> 00:20:53.000 Go with a sure thing Denver's Best Roofer Excel Roofing 510 00:20:53.119 --> 00:20:55.759 dot com. You don't pay a cent until you're content. 511 00:20:59.119 --> 00:21:02.319 Time for an insurance check up free, no obligation. In comparison, 512 00:21:02.480 --> 00:21:06.039 call Compass Insurance paying too much your coverage at dozens 513 00:21:06.039 --> 00:21:08.759 of insurance companies find out now three oh three, seven 514 00:21:08.759 --> 00:21:11.119 to seven to one help. You'll think you're his only 515 00:21:11.200 --> 00:21:13.680 customer when you choose Frank durand the real estate Man 516 00:21:13.720 --> 00:21:17.200 dot com to list your home with Remax Alliance three 517 00:21:17.200 --> 00:21:20.559 oh three nine two zero sixteen twenty two. 518 00:21:21.480 --> 00:21:24.240 Three o three seven one three eight two five five 519 00:21:24.720 --> 00:21:27.759 three oh three Martino, don I promise I'll get to 520 00:21:27.799 --> 00:21:29.960 that question you have in a second, But we were 521 00:21:29.960 --> 00:21:31.880 talking during the break. If you go to YouTube dot 522 00:21:31.920 --> 00:21:35.519 com and type in Troubleshooter Network, you'll see the live 523 00:21:35.559 --> 00:21:38.359 show and we're talking during the break. So Dan mackenzie, 524 00:21:38.400 --> 00:21:41.000 I want to go back, first of all, define irrevocable 525 00:21:41.039 --> 00:21:45.240 for us real quick? What not necessarily the difference? But 526 00:21:45.680 --> 00:21:48.480 is it truly irrevocable or does it all come down 527 00:21:48.519 --> 00:21:51.240 to the language in the contract or the agreement to trust. 528 00:21:51.440 --> 00:21:54.079 I mean, it's irrevocable because the trust says it's irrevocable. 529 00:21:54.200 --> 00:21:55.279 So you can't change it. 530 00:21:55.839 --> 00:21:57.440 You can, I mean there's stuff you can do to 531 00:21:57.559 --> 00:22:00.319 kind of indirectly influence it, Like you can deserve the 532 00:22:00.400 --> 00:22:02.799 right to fire the trustee potentially and replace them with 533 00:22:02.839 --> 00:22:05.119 somebody else. There's something called a trust protector that you 534 00:22:05.160 --> 00:22:08.319 can put in place. They can change, make the authorized 535 00:22:08.319 --> 00:22:11.400 to make changes, but you cannot directly revoke her, amend it. 536 00:22:11.519 --> 00:22:14.200 You can't, okay, And that's why it's there. So even 537 00:22:14.200 --> 00:22:16.319 if every party that has to do with it, you 538 00:22:16.400 --> 00:22:17.920 simply still can't change it. 539 00:22:17.920 --> 00:22:18.720 You're not supposed to do. 540 00:22:19.160 --> 00:22:20.720 And I would guess one of the things that you 541 00:22:20.799 --> 00:22:24.119 used for Let's say someone's parents have a million bucks. 542 00:22:24.160 --> 00:22:26.599 I'm just throwing a number out there, so this million 543 00:22:26.640 --> 00:22:29.440 dollars is an asset they have. They're getting ready to 544 00:22:29.480 --> 00:22:32.200 go into long term memory care or whatever it happens 545 00:22:32.240 --> 00:22:35.119 to be. When you go to Medicaid, you know they're 546 00:22:35.119 --> 00:22:37.680 going to be looking at assets. So if you took 547 00:22:37.720 --> 00:22:41.160 that money and put it in an irrevocable trust, that 548 00:22:41.279 --> 00:22:42.839 asset is no longer theirs. 549 00:22:43.039 --> 00:22:44.799 They could qualify for Medicaid. 550 00:22:45.079 --> 00:22:47.279 Yeah, there's a lot of rules around that. So but 551 00:22:47.559 --> 00:22:49.559 got that like a look back period? 552 00:22:49.680 --> 00:22:52.079 I mean, what what the five year look back periods? 553 00:22:52.200 --> 00:22:54.119 If you do it, then you know today and apply 554 00:22:54.160 --> 00:22:56.000 for Medicaid tomorrow, They're not going to say, oh, it's 555 00:22:56.000 --> 00:22:57.079 an ear of But this. 556 00:22:57.119 --> 00:22:59.640 Is what literally, this is why we call you. 557 00:22:59.680 --> 00:23:02.559 This is why people call you, is to talk about 558 00:23:02.559 --> 00:23:05.680 these kind of things and how to deal with them, right. 559 00:23:05.839 --> 00:23:07.920 I mean, you know a lot of people feel like, oh, 560 00:23:07.960 --> 00:23:09.519 well if they got money to pay for it. 561 00:23:09.559 --> 00:23:10.480 Well, the other. 562 00:23:10.359 --> 00:23:12.680 Side to that is, hey, I paid into the healthcare 563 00:23:12.759 --> 00:23:16.200 system my entire life. I believe at some point that 564 00:23:16.319 --> 00:23:19.319 long term care might be should be picked up by 565 00:23:19.359 --> 00:23:22.680 the government. But I mean, regardless of even politics in that, 566 00:23:23.039 --> 00:23:26.079 it's just really how people look at it. I mean, 567 00:23:26.119 --> 00:23:29.000 I don't think there's anything wrong with being very smart 568 00:23:29.279 --> 00:23:32.640 and going to somebody like you and thinking about these 569 00:23:32.680 --> 00:23:35.880 things five years in advance so they don't become an issue. 570 00:23:35.920 --> 00:23:36.079 Yeah. 571 00:23:36.119 --> 00:23:37.960 I mean, it's the real commitment. I mean, you know, 572 00:23:38.000 --> 00:23:40.240 everyone who'd do it if it was easy. So, like 573 00:23:40.279 --> 00:23:41.880 I just said, there's a ton of rules around it, 574 00:23:41.920 --> 00:23:43.680 and a lot of people come in and ask us 575 00:23:43.680 --> 00:23:45.799 about it, and then we explain to that well, here's 576 00:23:45.839 --> 00:23:47.480 the commitment you're making, the way you got to do it, 577 00:23:47.480 --> 00:23:49.079 and they're like, oh. 578 00:23:48.519 --> 00:23:49.519 Well, okay. 579 00:23:49.599 --> 00:23:52.000 One of the negative sides is to that, is they're 580 00:23:52.039 --> 00:23:56.400 giving up. Let's say, in the situation I was just 581 00:23:56.480 --> 00:23:58.880 talking about, they get into a big fight with their 582 00:23:58.920 --> 00:24:02.319 parents or they the you know, the kid wants to 583 00:24:02.359 --> 00:24:04.640 sell the house, the parents want to stay there. All 584 00:24:04.640 --> 00:24:07.440 of a sudden, the parents don't have any options. 585 00:24:07.480 --> 00:24:09.200 I mean, they. 586 00:24:09.079 --> 00:24:13.559 Don't have any control over those funds anymore, literally no control. Right, 587 00:24:14.000 --> 00:24:16.559 So you give that up. I mean that's a big deal. 588 00:24:16.720 --> 00:24:16.960 Yep. 589 00:24:17.920 --> 00:24:20.720 Okay three three seven, one, three eight, two five five 590 00:24:20.759 --> 00:24:24.039 Any questions for Dan McKenzie. By the way, today's the 591 00:24:24.119 --> 00:24:27.480 data call. It's not often you get free advice from 592 00:24:27.519 --> 00:24:30.480 a great attorney when it comes to your estate. I mean, 593 00:24:30.519 --> 00:24:32.839 it's simply just the way it is. Hey, don thanks 594 00:24:32.839 --> 00:24:35.400 for holding man. What's your issue with insurance. 595 00:24:36.440 --> 00:24:38.799 Yeah, I have a There are really a few different ones, 596 00:24:38.839 --> 00:24:43.279 but the same insurance insurance issuear. The first one is 597 00:24:43.680 --> 00:24:48.359 I'm a a snowbird, so I leave my car in 598 00:24:48.440 --> 00:24:52.000 my garage, you know, for a good portion of the year, 599 00:24:52.160 --> 00:24:53.039 like four months. 600 00:24:53.119 --> 00:24:55.000 Yeah, and uh. 601 00:24:55.279 --> 00:24:58.559 My insurance company USAA is saying that I need to 602 00:24:58.640 --> 00:25:02.240 keep it insured but away, which is half the price. 603 00:25:02.880 --> 00:25:06.000 Because if I if I discontinue my insurance, it will 604 00:25:06.039 --> 00:25:10.319 show me, will show a lapse of insurance, and then 605 00:25:10.319 --> 00:25:12.839 it will be more expensive when I try to reinsure. 606 00:25:13.079 --> 00:25:16.039 Not only would it show a lapse in insurance and 607 00:25:16.119 --> 00:25:18.720 be more but the other side of that is if 608 00:25:18.759 --> 00:25:22.000 your house burns down, your car is not going to 609 00:25:22.039 --> 00:25:23.920 have any coverage to it. I mean, I don't know 610 00:25:23.960 --> 00:25:27.799 what kind of vehicle it is, but yes, most carriers 611 00:25:27.839 --> 00:25:31.880 have something that will cover it when you're not driving it. 612 00:25:31.960 --> 00:25:34.960 And I assume that's very cheap coverage. How much is 613 00:25:35.000 --> 00:25:37.319 that away coverage? What did they quote you on that? 614 00:25:37.559 --> 00:25:39.559 I can't imagine it costs that much. 615 00:25:40.559 --> 00:25:43.079 It's fifty percent of what the normal coverage is. 616 00:25:43.160 --> 00:25:45.039 Well, how much is the normal coverage? 617 00:25:46.240 --> 00:25:50.119 The normal coverage is about twelve hundred about. 618 00:25:52.119 --> 00:25:52.559 What is it? 619 00:25:52.559 --> 00:25:56.759 Twelve hundred dollars two thousand dollars every six months? 620 00:25:56.759 --> 00:25:59.400 Well, that seems high as hell. Hey, Kelly, get Brian 621 00:25:59.440 --> 00:26:01.519 Burns on real quick. What kind of vehicle is it? 622 00:26:02.599 --> 00:26:08.079 It's Alexis twenty ten x seventy. 623 00:26:08.559 --> 00:26:09.279 God, that just. 624 00:26:09.240 --> 00:26:11.599 Seems go ahead to meause you probably know that's a 625 00:26:11.680 --> 00:26:14.880 rebadged Lands Cruiser. So don it sounds like you have 626 00:26:14.920 --> 00:26:17.119 full coverage on it, right, not just the liability. You 627 00:26:17.160 --> 00:26:20.240 really want to ensure it against compet collision. It's not 628 00:26:20.279 --> 00:26:22.000 a very expensive automobile anymore. 629 00:26:22.799 --> 00:26:26.640 Yeah, but he shouldn't even My point to that though, Dimitri. 630 00:26:26.759 --> 00:26:29.279 Then I'll let you answer, don is when you have 631 00:26:29.440 --> 00:26:32.559 the insurance. We're talking about away insurance, I meaning the 632 00:26:32.640 --> 00:26:35.559 vehicle's not going to be driven, and if it is driven, 633 00:26:35.640 --> 00:26:39.119 I don't think you have liability coverage at that point. 634 00:26:39.160 --> 00:26:41.640 But we're going to ask our insurance expert. I would 635 00:26:41.680 --> 00:26:45.559 think that insurance. I mean, he's talking two thousand dollars 636 00:26:45.599 --> 00:26:48.240 a year to ensure a vehicle probably worth five That 637 00:26:48.480 --> 00:26:49.720 just seems crazy. 638 00:26:50.000 --> 00:26:51.880 Yeah, I think he's got full coverage on it. 639 00:26:52.640 --> 00:26:55.000 Yeah, but he does have full coverage on it. 640 00:26:55.039 --> 00:26:59.200 He does you do, right, Don, Yeah, so maybe maybe 641 00:26:59.279 --> 00:27:00.920 knock it down to comprehensive and. 642 00:27:01.079 --> 00:27:03.759 Yeah, but no, no, no, you're your I mean, hold 643 00:27:03.799 --> 00:27:05.960 on me. I got Brian Burns up. Hey, Brian, I've 644 00:27:06.000 --> 00:27:08.759 got a question for you. Don called up. He's got 645 00:27:08.759 --> 00:27:11.359 like a twenty ten Lexus whatever. I don't even know 646 00:27:11.400 --> 00:27:13.920 the value of it, nor do I care. Right now, 647 00:27:14.240 --> 00:27:18.279 he pays four thousand dollars a year for coverage on it. 648 00:27:18.279 --> 00:27:20.599 It's basically full coverage. We'll call it to that for now. 649 00:27:21.000 --> 00:27:23.759 So he's got comp collision, he's got everything on it, 650 00:27:24.160 --> 00:27:27.480 four grand. He's a snowbird when he is not here, 651 00:27:27.559 --> 00:27:30.200 and he's wherever in the warm sun where we all 652 00:27:30.240 --> 00:27:33.440 wish we were right now. They want to charge him 653 00:27:33.480 --> 00:27:36.359 for what I think he referred to as a way insurance. 654 00:27:36.400 --> 00:27:38.039 And I've heard of it and I know about it, 655 00:27:38.400 --> 00:27:40.799 but they still want two thousand a year for that. 656 00:27:40.920 --> 00:27:43.720 So the questions are, doesn't that seem kind of high 657 00:27:43.839 --> 00:27:47.799 fifty percent? And if you do drive the vehicle, if 658 00:27:47.799 --> 00:27:50.599 you end up driving it in that period of time 659 00:27:50.640 --> 00:27:53.880 when you have that coverage, I assume the liability coverage 660 00:27:53.920 --> 00:27:56.799 isn't there the comp collision tell us about this kind 661 00:27:56.799 --> 00:27:58.400 of insurance for snowbirds. 662 00:27:58.880 --> 00:27:59.440 Yeah, it should. 663 00:27:59.559 --> 00:28:02.000 I mean, it's be far less than that. I agree 664 00:28:02.000 --> 00:28:04.599 with you, But what it should be as comprehensive only. 665 00:28:05.160 --> 00:28:08.079 So it's just storage insurance basically. Yes, for a fire, 666 00:28:08.279 --> 00:28:11.119 basically exactly, or if someone stole it, that would be 667 00:28:11.160 --> 00:28:11.880 a comprehensive. 668 00:28:12.039 --> 00:28:12.240 Yeah. 669 00:28:12.240 --> 00:28:14.400 Of course, it's not covered for any kind of collision, 670 00:28:14.440 --> 00:28:17.440 and it's not covered for liability or uninsured motorists. But 671 00:28:17.519 --> 00:28:21.000 it should be a drastically reduced price. Fifty percent doesn't 672 00:28:21.039 --> 00:28:21.759 seem like enough. 673 00:28:21.920 --> 00:28:24.920 Well, that seems ridiculous because if it wasn't a twenty 674 00:28:25.039 --> 00:28:27.880 ten Lexus and it was a twenty twenty four Tesla, 675 00:28:28.200 --> 00:28:30.400 I mean you could be you could be paying seven 676 00:28:30.519 --> 00:28:34.119 thousand dollars a year or something crazy. I mean, hey Don, 677 00:28:34.160 --> 00:28:40.519 what is the value of that vehicle? Well, Soline, let 678 00:28:40.559 --> 00:28:42.559 me lock you in. Brian, my bad, Hey Don, what 679 00:28:42.720 --> 00:28:44.240 is the value of that vehicle? 680 00:28:45.799 --> 00:28:47.480 Thirty thousand? 681 00:28:48.160 --> 00:28:50.319 Okay, so it's worth quite a bit more than I thought. 682 00:28:50.319 --> 00:28:51.960 But let's let's take him at his word to what 683 00:28:52.039 --> 00:28:54.440 it's worth. Now, does that number seem better? 684 00:28:54.480 --> 00:28:54.759 Brian? 685 00:28:54.839 --> 00:28:57.559 Two thousand a year? And what do you call that insurance? 686 00:28:57.559 --> 00:29:00.240 I'm sure each carrier has a little different name. But 687 00:29:00.240 --> 00:29:02.440 what what is the main name of it? 688 00:29:02.799 --> 00:29:03.160 Away? 689 00:29:03.319 --> 00:29:06.720 Yeah, I mean usually when you when someone calls your 690 00:29:06.759 --> 00:29:10.039 suspending coverage, it's what you say, you're suspending coverage on 691 00:29:10.079 --> 00:29:10.599 the car. 692 00:29:10.559 --> 00:29:12.920 To component you're not going to be driving it. Now. 693 00:29:12.960 --> 00:29:15.640 If you do drive it, you have zero liability, right. 694 00:29:15.920 --> 00:29:18.559 That's right, Yep, You've got to make sure that you 695 00:29:18.720 --> 00:29:21.759 have the coverage back and forth before the car's ever driven. 696 00:29:21.920 --> 00:29:24.839 But yeah, it should be. But to answer your question, no, 697 00:29:24.960 --> 00:29:27.680 that doesn't change my mind. A thirty thousand dollars car 698 00:29:28.519 --> 00:29:31.359 with comprehensive only should not be two thous not even close. 699 00:29:31.480 --> 00:29:33.759 Hey, Don, who do you have for insurance right now? 700 00:29:34.880 --> 00:29:37.680 It's USAA, which char I've always thought was the best. 701 00:29:37.799 --> 00:29:39.359 You know what I'd like you to do, Don, I 702 00:29:39.400 --> 00:29:41.599 want you to be a guinea pig of mine right now, 703 00:29:41.799 --> 00:29:44.440 would you seriously? I want you to call up Brian 704 00:29:45.480 --> 00:29:49.039 and we'll I'll have Kelly exchange information and have him 705 00:29:49.119 --> 00:29:52.160 run the numbers on that, and then you call back 706 00:29:52.240 --> 00:29:55.160 up sometime in the next three hours and let us know. 707 00:29:55.400 --> 00:29:58.200 And Brian, I'd love for you to let us know too, 708 00:29:58.240 --> 00:30:01.240 because that just seems insane for me. And how often 709 00:30:01.279 --> 00:30:02.119 do people do that? 710 00:30:02.200 --> 00:30:02.400 Don? 711 00:30:02.480 --> 00:30:02.839 Hold on? 712 00:30:03.119 --> 00:30:05.359 Well, Don, you said you had two questions. What was 713 00:30:05.400 --> 00:30:06.400 the other one? 714 00:30:07.000 --> 00:30:10.039 While the other one it's the same vehicle and I 715 00:30:10.160 --> 00:30:14.599 had the hail. I had hail on May thirtieth, and 716 00:30:15.359 --> 00:30:19.519 they've totaled my car and we've cold. They've come back 717 00:30:19.559 --> 00:30:22.599 with a with a value on it, and we're worth 718 00:30:22.599 --> 00:30:24.079 three thousand dollars apart. 719 00:30:24.079 --> 00:30:25.640 All right, hold on, hold on, I'm going to put 720 00:30:25.640 --> 00:30:27.240 you on Old. I got to take this break. I 721 00:30:27.279 --> 00:30:29.559 get the second question, we're going to go to that. 722 00:30:29.720 --> 00:30:32.400 Then after that, Brian, we're going to do this update 723 00:30:32.720 --> 00:30:36.119 with an hoa issue with Dimitri and then a Debue's 724 00:30:36.119 --> 00:30:39.960 got a question for our guest, Dan McKenzie. One line open, 725 00:30:40.000 --> 00:30:43.079 three oh three seven one three talk. 726 00:30:47.720 --> 00:30:51.000 Go with a sure thing Denver's Best roofer Excel Roofing 727 00:30:51.079 --> 00:30:53.720 dot com. You don't pay a cent until you're content. 728 00:30:57.119 --> 00:30:59.960 Time for an insurance check up free, no obligation. Compare 729 00:31:00.240 --> 00:31:03.559 and call Compass insurance paying too much your coverage at 730 00:31:03.599 --> 00:31:06.359 dozens of insurance companies find out now three all three 731 00:31:06.519 --> 00:31:08.640 seven to seven to one help. You'll think you're his 732 00:31:08.799 --> 00:31:11.400 only customer when you choose Frank durand the real estate 733 00:31:11.480 --> 00:31:14.720 man dot Com to list your home with Remax Alliance 734 00:31:14.960 --> 00:31:20.839 three all three nine two zero sixteen twenty two. 735 00:31:19.319 --> 00:31:22.039 All right three three seven one three eight two five five. 736 00:31:22.720 --> 00:31:24.359 You know, I used to think pickleball was for old 737 00:31:24.400 --> 00:31:27.039 people only, but I'm starting to realize everybody of every 738 00:31:27.079 --> 00:31:30.640 age is playing this sport. We took our first lesson yesterday, 739 00:31:30.640 --> 00:31:33.599 Suzanna and I and I was asking Dan mackenzie if 740 00:31:33.640 --> 00:31:35.039 he played, and sure enough he does. 741 00:31:35.400 --> 00:31:37.599 It's crazy. Everybody plays pickleball. 742 00:31:37.880 --> 00:31:40.960 It's like the new tennis racquetball, which I love and 743 00:31:41.079 --> 00:31:43.759 used to play all the time with Deputy Dan back 744 00:31:43.799 --> 00:31:44.279 in the day. 745 00:31:44.880 --> 00:31:47.880 Just no one's playing it anymore. It's it's kind of crazy. Now. 746 00:31:47.920 --> 00:31:49.960 I want to go back to don so don you 747 00:31:50.000 --> 00:31:52.920 have two issues. One we already talked about. You're gonna 748 00:31:52.960 --> 00:31:55.559 call Brian Burns up and see how much they quote 749 00:31:55.559 --> 00:31:58.720 you on that insurance. Say USAA is quoting you two 750 00:31:58.759 --> 00:32:02.799 thousand a year four the insurance coverage that is basically 751 00:32:02.839 --> 00:32:04.640 when you're away because you're a snowbird. 752 00:32:04.839 --> 00:32:07.519 The other thing is the value. We have a company 753 00:32:07.559 --> 00:32:11.319 on our referral list. What is it? It's not Gaddy. 754 00:32:11.400 --> 00:32:11.759 What is it. 755 00:32:11.759 --> 00:32:15.640 It's I got I want to think of Gaddy Electric 756 00:32:15.720 --> 00:32:18.559 for some reason. But who's the guy that values the 757 00:32:18.599 --> 00:32:24.279 Carsu's in Petty. Yeah, I'm thinking of Gaddy Petty details. 758 00:32:24.559 --> 00:32:27.680 So these guys, here's what I would do. Don First 759 00:32:27.759 --> 00:32:31.720 of all, he's going to tell you if the vehicle, 760 00:32:32.160 --> 00:32:34.119 what it's worth. Okay, He's going to tell you what 761 00:32:34.200 --> 00:32:37.799 a fair offer is, because it's possible your idea of 762 00:32:37.839 --> 00:32:40.720 a fair offer is different. But let's say he's correct, 763 00:32:40.960 --> 00:32:43.839 and or you're correct, and you're that three thousand dollars 764 00:32:43.880 --> 00:32:47.079 off and the insurance company wants to give you twenty seven. 765 00:32:47.480 --> 00:32:48.640 You know it's worth thirty. 766 00:32:48.680 --> 00:32:50.960 What do you do? And I assume you've already fought 767 00:32:51.000 --> 00:32:52.160 with them a little right. 768 00:32:54.559 --> 00:32:59.000 Yes, And in the in the contract, everybody has to 769 00:32:59.079 --> 00:33:02.599 agree that you will use you'll get a separate appraiser 770 00:33:02.599 --> 00:33:05.079 at your own costs, and then you'll go to an umpire. 771 00:33:05.319 --> 00:33:07.160 Yeah that is sure. 772 00:33:07.200 --> 00:33:09.440 Have you gone to that yet? Have you gone down 773 00:33:09.480 --> 00:33:11.279 the appraisal clause yet? 774 00:33:12.400 --> 00:33:12.599 Well? 775 00:33:12.839 --> 00:33:16.319 I haven't invoked it because I can't get any information 776 00:33:16.519 --> 00:33:19.359 associated with what the process is. 777 00:33:19.599 --> 00:33:22.160 And then if we if we do do that, what 778 00:33:22.319 --> 00:33:22.640 the cost? 779 00:33:22.720 --> 00:33:25.799 Okay, listen, we deal with this. Listen, Don, we deal 780 00:33:25.839 --> 00:33:28.640 with this in the winter all the time. Let's try 781 00:33:28.640 --> 00:33:31.359 to get petty details on and go over the appraisal 782 00:33:31.400 --> 00:33:34.680 clause next hour. Kelly, a lot of people feel like 783 00:33:34.759 --> 00:33:38.240 their insurance companies are screwing them. When they're vehicle's total 784 00:33:38.480 --> 00:33:41.640 or the other insurance company, that's different. But when you're 785 00:33:41.680 --> 00:33:45.640 dealing with your own insurance company, which you are, right Don, 786 00:33:45.759 --> 00:33:50.240 we're talking about your insurance company. Yes, okay, hold on, 787 00:33:50.359 --> 00:33:52.079 I got I got you. I just want to make 788 00:33:52.079 --> 00:33:54.079 sure we're on the same page. So we're gonna get 789 00:33:54.119 --> 00:33:56.240 petty details on and we're going to talk about that 790 00:33:56.319 --> 00:33:58.920 next hour. The other thing I want to do is 791 00:33:58.920 --> 00:34:01.240 finish up with Brian Burr and say, Brian, I'm gonna 792 00:34:01.240 --> 00:34:03.559 have Don call you. Do me a favor, run the 793 00:34:03.640 --> 00:34:07.519 numbers on that and let me know what that runs. 794 00:34:07.559 --> 00:34:10.039 And Don you could reach Brian. I'm gonna put you 795 00:34:10.119 --> 00:34:13.599 both on hold. Brian is with Compass Insurance three oh 796 00:34:13.599 --> 00:34:15.760 three nine nine six nine thousand. 797 00:34:15.920 --> 00:34:16.159 Don. 798 00:34:16.440 --> 00:34:18.199 I want you to call him up when we're done 799 00:34:18.239 --> 00:34:20.639 three oh three nine nine six nine thousand. 800 00:34:20.719 --> 00:34:24.239 We're gonna get petty details on. Educate people when it comes. 801 00:34:24.079 --> 00:34:27.400 To getting the proper amount from your own insurance company. 802 00:34:27.679 --> 00:34:31.320 Brian's got an HOA issue, and Debbie, I promise I'll 803 00:34:31.320 --> 00:34:34.239 get you up to talk to Dan McKenzie after the break. 804 00:34:36.679 --> 00:34:39.960 Go with a sure thing Denver's Best roofer Excel Roofing 805 00:34:40.079 --> 00:34:42.679 dot com. You don't pay a cent until you're content. 806 00:34:46.079 --> 00:34:49.280 Time for an insurance check up free, no obligation. In comparison, 807 00:34:49.400 --> 00:34:52.960 call Compass Insurance paying too much your coverage at dozens 808 00:34:52.960 --> 00:34:55.679 of insurance companies find out now three oh three seven 809 00:34:55.719 --> 00:34:58.079 to seven to one help. You'll think you're his only 810 00:34:58.159 --> 00:35:01.320 customer when you choose Frank durand estate man dot com 811 00:35:01.360 --> 00:35:04.480 to list your home with Remax Alliance three all three 812 00:35:04.559 --> 00:35:16.239 nine two zero sixteen twenty two. Ripped up bad news, 813 00:35:15.400 --> 00:35:21.320 you don't help, come running just as as. 814 00:35:21.159 --> 00:35:21.840 As we can. 815 00:35:22.639 --> 00:35:26.360 Shooter's gonna help, come man. 816 00:35:26.599 --> 00:35:28.760 This is the Troubleshooter Show. 817 00:35:29.159 --> 00:35:33.079 No Tom Martino, Welcome, Welcome, my friends to the only 818 00:35:33.119 --> 00:35:35.639 show of U kind. We're here to solve problems, answer questions, 819 00:35:35.960 --> 00:35:36.880 take complaints. 820 00:35:36.880 --> 00:35:37.960 If you have been. 821 00:35:37.840 --> 00:35:40.800 Ripped off, you need help recouping money, maybe a bad 822 00:35:40.880 --> 00:35:44.239 contractor maybe you're dealing with no heat in an apartment 823 00:35:44.320 --> 00:35:47.079 for over four or five days and the landlord won't 824 00:35:47.119 --> 00:35:49.519 do anything. We've helped out and so many of those. 825 00:35:49.599 --> 00:35:52.480 It's crazy. But this, my friends, is a show for you. 826 00:35:52.519 --> 00:35:56.320 Please don't forget three zero three Martino. That number works 827 00:35:56.360 --> 00:35:59.599 on and off the air. I want to tell you 828 00:35:59.599 --> 00:36:02.280 really quick. This hour brought to you by Paul the 829 00:36:02.360 --> 00:36:07.400 Waterman waterpros dot net. 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He lives and breathes water. Call waterpros today, 842 00:36:44.599 --> 00:36:48.519 go to waterpros dot net. That's waterpros dot net. Now listen, 843 00:36:48.840 --> 00:36:50.280 we've got a couple different. 844 00:36:49.960 --> 00:36:52.119 Things going here. I want to get Justin Petty on 845 00:36:52.239 --> 00:36:54.199 real quick, Justin. 846 00:36:55.159 --> 00:36:58.239 We just had a call and I want to just 847 00:36:58.320 --> 00:37:01.400 basically sum it up, so people on stand something. When 848 00:37:01.400 --> 00:37:04.719 an insurance company does not give you what you think 849 00:37:04.800 --> 00:37:07.360 your vehicle is worth, and we're talking about your own 850 00:37:07.360 --> 00:37:11.400 insurance company, you have a claim, maybe the vehicle gets stolen, 851 00:37:11.880 --> 00:37:15.480 maybe somebody with no insurance hits you. Whatever you're dealing 852 00:37:15.519 --> 00:37:18.519 with your own insurance company. They want to offer you, 853 00:37:18.559 --> 00:37:22.719 in this case, twenty seven thousand dollars, and you know 854 00:37:23.079 --> 00:37:27.679 you think the vehicle's worth thirty What typically happens in 855 00:37:27.760 --> 00:37:31.519 the appraisal property in the appraisal colaut So if he 856 00:37:31.679 --> 00:37:35.639 decides to go ahead and pull that trigger, what are 857 00:37:35.679 --> 00:37:37.199 the different steps that happen. 858 00:37:39.199 --> 00:37:43.360 So, yeah, you send an official notice to the insurance 859 00:37:43.400 --> 00:37:47.880 company invoking first, and give them a chance to name 860 00:37:47.960 --> 00:37:50.960 an appraiser, so both parties have to pick an appraiser. 861 00:37:51.559 --> 00:37:55.639 You invoke that process once they name the appraiser. Typically 862 00:37:56.239 --> 00:38:00.440 that appraiser and myself, if I'm hired, will discus to 863 00:38:00.440 --> 00:38:03.119 claim within a couple of days and see if we 864 00:38:03.159 --> 00:38:06.000 can agree on a value. And if we do, we 865 00:38:06.159 --> 00:38:08.840 sign an award document and send it to the carrier 866 00:38:09.239 --> 00:38:11.239 and they're bound by that number. 867 00:38:11.599 --> 00:38:13.480 And that's what they have to do because when you 868 00:38:13.599 --> 00:38:17.760 have that contractual agreement or the policy, you know, that's 869 00:38:17.760 --> 00:38:20.199 an agreement you have with the insurance company and in 870 00:38:20.320 --> 00:38:23.960 that language basically says if we disagree on the dollar amount, 871 00:38:24.320 --> 00:38:27.559 then we go into the appraisal clause. You hire somebody, 872 00:38:27.679 --> 00:38:30.920 I hire somebody, and then they go together. Now, you guys, 873 00:38:31.119 --> 00:38:34.360 what was that caller's name? By the way, does anybody remember? 874 00:38:34.400 --> 00:38:37.239 I forget the guy's name, don So, don I know 875 00:38:37.280 --> 00:38:40.760 you're still listening. I would personally call Justin up because 876 00:38:41.039 --> 00:38:44.960 instead of you going through that Justin you guys do 877 00:38:45.079 --> 00:38:46.639 that for one flat fee. 878 00:38:46.679 --> 00:38:50.360 Correct, Yeah, I mean we look at any case that 879 00:38:50.480 --> 00:38:53.199 comes through, make sure it's a low offer, and if 880 00:38:53.239 --> 00:38:56.440 it is, we charge one fee. And we just handled 881 00:38:56.440 --> 00:38:57.360 that part of it for you. 882 00:38:57.599 --> 00:38:59.920 And that first part, and I was telling Don then 883 00:39:00.280 --> 00:39:03.400 is free the most important part for anybody out there 884 00:39:03.440 --> 00:39:04.480 that's dealing with this. 885 00:39:04.920 --> 00:39:07.920 The first part as simple as this. You ready for this? 886 00:39:08.360 --> 00:39:12.159 You call up Justin Petty and basically say, hey, I 887 00:39:12.199 --> 00:39:16.119 have a twoenty fifteen blah blah blah, this many miles 888 00:39:16.159 --> 00:39:18.920 they're offering me this. He's going to ask for the VN. 889 00:39:19.000 --> 00:39:21.400 He's going to figure out all the add ons it has. 890 00:39:21.559 --> 00:39:23.400 He's going to listen to you if you just put 891 00:39:23.400 --> 00:39:26.719 tires on that day or something along those, something outside 892 00:39:26.800 --> 00:39:30.199 the ordinary, And basically he's going to tell you if 893 00:39:30.239 --> 00:39:33.679 you're correct, it's under and if it's not under, justin 894 00:39:33.719 --> 00:39:35.599 you're going to be the first to tell them. There's 895 00:39:35.639 --> 00:39:37.239 not going to be much I can do to help 896 00:39:37.280 --> 00:39:38.679 because we're not going to win this. 897 00:39:38.599 --> 00:39:40.760 Thing for sure. 898 00:39:40.840 --> 00:39:43.159 Yeah, we don't want we don't want cases that were 899 00:39:43.199 --> 00:39:46.400 not valuable on So we tell you the truth either way. 900 00:39:46.519 --> 00:39:49.039 So anybody would be crazy not to call at least 901 00:39:49.039 --> 00:39:51.280 for the free advice. And how much do you charge 902 00:39:51.280 --> 00:39:54.320 for this? How much is that flat fee? Five hundred bucks? 903 00:39:54.360 --> 00:39:54.559 Right? 904 00:39:55.719 --> 00:39:58.000 Well at five fifty five? 905 00:39:58.639 --> 00:40:01.880 Got it it, man, I absolutely love it. 906 00:40:01.960 --> 00:40:02.639 And that's it. 907 00:40:02.719 --> 00:40:05.920 But if you're dealing with somebody else's insurance company, how 908 00:40:05.920 --> 00:40:09.239 would you help in that situation? Because you can invoke 909 00:40:09.760 --> 00:40:13.079 the appraisal clause? So how would you if you could help? 910 00:40:13.519 --> 00:40:14.280 What would you do? 911 00:40:15.519 --> 00:40:17.960 We help a lot of people with with third party 912 00:40:18.000 --> 00:40:21.280 claims that you're talking about, and mainly it's free help 913 00:40:21.400 --> 00:40:23.840 I give you. I have a free ebook that we 914 00:40:23.960 --> 00:40:28.519 send that explains all the problems with insurance company automated 915 00:40:28.960 --> 00:40:33.199 valuation systems like their CCCS and auto claim. You know, 916 00:40:33.280 --> 00:40:35.880 there's all the ways that they come up with value. 917 00:40:35.960 --> 00:40:38.920 So it's tips and tricks is how we help. And 918 00:40:39.079 --> 00:40:41.599 of course we can write an appraisal, but it's typically 919 00:40:41.639 --> 00:40:44.239 not worth it to buy an appraisal on a third 920 00:40:44.320 --> 00:40:46.880 party claim. It's better to just know how to argue it. 921 00:40:47.239 --> 00:40:50.440 Yeah, you know what drives me crazy, And I'm in 922 00:40:50.480 --> 00:40:52.679 the same boat. I've done this. You have a vehicle, 923 00:40:53.119 --> 00:40:53.840 you kept it. 924 00:40:53.760 --> 00:40:58.159 Extremely clean, you drove it like you know, someone driving 925 00:40:58.159 --> 00:40:59.880 it to church on Sundays, only. 926 00:40:59.719 --> 00:41:00.320 The whole thing. 927 00:41:00.320 --> 00:41:03.039 It's just in great shape compared to most of them. 928 00:41:03.360 --> 00:41:05.599 And people think, and like I said, I've done this 929 00:41:05.639 --> 00:41:09.320 as well, people think that vehicle has more value than 930 00:41:09.360 --> 00:41:12.760 the average one, and typically it really doesn't. I mean, 931 00:41:13.199 --> 00:41:15.960 it's great that you kept it into good shape, but 932 00:41:16.239 --> 00:41:19.559 I mean, I mean, wouldn't you agree with that In general, 933 00:41:19.599 --> 00:41:23.119 they're all worth the same. A twenty twenty Santa Fe 934 00:41:23.519 --> 00:41:28.119 with twenty thousand miles and no previous damage is basically 935 00:41:28.199 --> 00:41:31.039 worth what every other Santa Fe is worth at that point, 936 00:41:32.599 --> 00:41:33.159 I agree. 937 00:41:33.239 --> 00:41:38.199 I mean the condition of a vehicle is relevant, but 938 00:41:38.880 --> 00:41:41.400 it needs to be something that really stands out to 939 00:41:41.559 --> 00:41:44.239 change the value of the vehicle. It like it's got 940 00:41:44.360 --> 00:41:46.880 damage on it that's you know, bents on it, or 941 00:41:47.159 --> 00:41:50.320 a cracked windshield or something to that effect. That is 942 00:41:50.400 --> 00:41:54.400 really a big difference. Typically they're all They're all going 943 00:41:54.480 --> 00:41:58.519 to be considered in average condition and there's not going 944 00:41:58.559 --> 00:42:00.599 to be a huge change in value cause you can't 945 00:42:00.599 --> 00:42:01.239 it super clean. 946 00:42:01.360 --> 00:42:01.559 Yeah. 947 00:42:01.599 --> 00:42:03.519 The other one other thing I want to give out 948 00:42:03.559 --> 00:42:07.320 there is a nuggative information that Justin has taught and 949 00:42:07.400 --> 00:42:10.519 the calls have taught me over the years, diminished value. 950 00:42:10.559 --> 00:42:12.760 I just want to talk about real quick. There is 951 00:42:12.880 --> 00:42:15.960 so many people that are in an accident. Somebody runs 952 00:42:15.960 --> 00:42:18.239 a red light, hits some of the vehicles not totaled, 953 00:42:18.280 --> 00:42:20.719 but there's there's damage to it. I don't care if 954 00:42:20.760 --> 00:42:24.280 it's fifteen hundred in damage or if it's one hundred 955 00:42:24.280 --> 00:42:28.840 thousand dollars car fifty thousand, seventy thousand in damage. There's damage. 956 00:42:28.960 --> 00:42:31.280 Not talking about a tail light, but with the exception 957 00:42:31.360 --> 00:42:33.800 of that, in fact, arguably it could be a tail 958 00:42:33.840 --> 00:42:36.480 light if it goes through insurance, that might be affected. 959 00:42:36.679 --> 00:42:39.440 But they don't realize after getting their car fixed, they 960 00:42:39.519 --> 00:42:42.280 left a lot of money on the table. That car 961 00:42:42.519 --> 00:42:45.840 that had no accidents before, or maybe it had one 962 00:42:45.880 --> 00:42:49.559 accident before, now has been diminished in value. 963 00:42:49.639 --> 00:42:51.679 When you go to sell that vehicle or. 964 00:42:51.639 --> 00:42:54.039 Traded in, they're going to see the car fax or 965 00:42:54.079 --> 00:42:57.199 whatever report they run on it, and that vehicle is 966 00:42:57.280 --> 00:43:00.880 now worth less than a vehicle light. It's never been 967 00:43:00.880 --> 00:43:03.960 in an accident, even if it's fixed perfectly. That's just 968 00:43:04.039 --> 00:43:07.400 the nature of how things work right now. And so 969 00:43:07.559 --> 00:43:11.079 many people, in fact, justin how many people leave that 970 00:43:11.159 --> 00:43:14.880 diminished value claim and never do anything because the other 971 00:43:15.000 --> 00:43:18.000 insurance company doesn't go, oh, hey, by the way, not 972 00:43:18.079 --> 00:43:20.599 only are we going to fix your vehicle for ten thousand, 973 00:43:20.880 --> 00:43:24.000 but we owe you another twenty five hundred for diminished value. 974 00:43:24.159 --> 00:43:26.199 Does any insurance company ever do that. 975 00:43:27.599 --> 00:43:31.239 I haven't seen one volunteer at No. Lots of people 976 00:43:31.320 --> 00:43:32.920 leave it on the table. They don't know that they 977 00:43:32.920 --> 00:43:33.599 can go after it. 978 00:43:33.800 --> 00:43:34.440 I have no idea. 979 00:43:34.480 --> 00:43:37.440 Wouldn't you say, over fifty percent or even higher leave 980 00:43:37.519 --> 00:43:39.199 the diminished value on the table? 981 00:43:40.519 --> 00:43:43.440 Yeah, I would say it's even higher than that. It's 982 00:43:43.480 --> 00:43:46.360 still it's still something that people are just not aware 983 00:43:46.360 --> 00:43:47.360 of no, and. 984 00:43:47.320 --> 00:43:51.079 The insurance companies don't. The insurance companies don't talk about it. 985 00:43:51.360 --> 00:43:53.320 In fact, they go out of their way not to 986 00:43:53.440 --> 00:43:57.360 educate people on it. Arguably, I mean it's understandably I 987 00:43:57.400 --> 00:44:00.360 should say why. I mean, you know they've got they're 988 00:44:00.400 --> 00:44:06.960 stockholders to deal with. Justin Petty Diminished valueexpert dot com 989 00:44:07.360 --> 00:44:11.760 Diminished Valueexpert dot com Free Advice. He'll tell you what 990 00:44:11.800 --> 00:44:14.440 that vehicles worth and then if you need to invoke 991 00:44:14.559 --> 00:44:17.239 that appraisal clause, he'll do it all for five hundred 992 00:44:17.239 --> 00:44:20.360 and fifty bucks. Don I hope you call Justin up 993 00:44:20.360 --> 00:44:23.639 and get back with us. Debbie, what's your question for 994 00:44:23.800 --> 00:44:26.559 Dan McKenzie? Then, Brian, you're going to be up after that. 995 00:44:26.639 --> 00:44:29.320 We have two lines open in a second three zero 996 00:44:29.400 --> 00:44:32.039 three seven one three A two five five. I want 997 00:44:32.079 --> 00:44:34.400 to hear about the bad contractor. I want to hear 998 00:44:34.440 --> 00:44:38.280 any questions. Three zero three Martino, Debbie, what is your question? 999 00:44:39.960 --> 00:44:40.159 Hi? 1000 00:44:40.760 --> 00:44:43.159 Thanks for protecting my call. Yeah, I have a question 1001 00:44:43.239 --> 00:44:46.960 regarding the will. I have a very old will and 1002 00:44:47.000 --> 00:44:50.599 it needs to be updated, I'm sure, but my daughter's 1003 00:44:50.599 --> 00:44:53.880 been a joint tenant on my home for many, many years. 1004 00:44:53.880 --> 00:44:57.880 Interesting, so when I pass. 1005 00:44:57.840 --> 00:45:01.039 My home automatic is David's her, so there's no will 1006 00:45:01.079 --> 00:45:04.119 needed for my home, correct. 1007 00:45:04.199 --> 00:45:06.719 Right, Your will would not control property that is held jointly. 1008 00:45:08.119 --> 00:45:13.159 I'm okay, right. And then my kids are my beneficiaries 1009 00:45:13.320 --> 00:45:17.639 on my CDs, my IRA said, and that enough to 1010 00:45:17.639 --> 00:45:20.079 make sure they get those funds and no will needed 1011 00:45:20.159 --> 00:45:20.360 for that. 1012 00:45:20.880 --> 00:45:23.079 Correct, Those are also in front of the will. 1013 00:45:23.239 --> 00:45:26.800 Yep, good, okay, So okay, hey. 1014 00:45:26.639 --> 00:45:29.000 Really, I'm sorry, I'm sorry to interrupt, but both of you. 1015 00:45:29.039 --> 00:45:31.360 A lot of people are sitting there going joint tenancy. 1016 00:45:31.440 --> 00:45:33.800 What does that mean? So give us an idea of 1017 00:45:33.800 --> 00:45:34.719 what she's referring. 1018 00:45:34.760 --> 00:45:35.519 You can own. 1019 00:45:35.880 --> 00:45:37.800 You can go own something with somebody, right, your house 1020 00:45:37.920 --> 00:45:39.840 or your cars or whatever, and there's different ways to 1021 00:45:39.880 --> 00:45:42.320 do that. Most of the time it is joint. Joint 1022 00:45:42.400 --> 00:45:44.960 means that every owner owns one hundred percent of the asset. 1023 00:45:45.000 --> 00:45:48.440 There's no separate shares, there's no you know, fifty to 1024 00:45:48.480 --> 00:45:50.400 fifty it as you all own the whole thing. So 1025 00:45:50.519 --> 00:45:53.519 one of you passes away, the survivors just keep going. 1026 00:45:53.559 --> 00:45:55.440 But if I want to buy a house with Dimitri 1027 00:45:55.559 --> 00:45:58.039 as an investment, I don't think i'd buy it that way. 1028 00:45:57.920 --> 00:46:00.400 Right, So the other option is tenants and con meaning 1029 00:46:00.440 --> 00:46:02.000 you actually do have separate shares. 1030 00:46:01.840 --> 00:46:04.920 And tenants in common, like he could own say thirty 1031 00:46:04.960 --> 00:46:07.639 three percent, I could earn sixty seven or however we 1032 00:46:07.679 --> 00:46:08.639 want to break it up. 1033 00:46:08.519 --> 00:46:10.199 And you could be back at the problem we discussed 1034 00:46:10.199 --> 00:46:12.159 earlier that you could end up co owning that house 1035 00:46:12.199 --> 00:46:15.559 at Dimitri's errors if you have not thought through that, Yeah, 1036 00:46:15.559 --> 00:46:17.320 because his share is going to go to his air, 1037 00:46:17.440 --> 00:46:18.320 is not you, Debbi? 1038 00:46:18.400 --> 00:46:19.800 What other question do you have for Dan? 1039 00:46:20.400 --> 00:46:23.440 Well, I just wanted to confirm those are my main assets, 1040 00:46:23.440 --> 00:46:26.039 my little bit of money I have in my home. 1041 00:46:26.519 --> 00:46:30.280 So why have a will? I have personal items that 1042 00:46:30.320 --> 00:46:32.360 would just my kids would come in and take if 1043 00:46:32.400 --> 00:46:35.519 stave and want them. So what would I need a 1044 00:46:35.559 --> 00:46:36.119 will for? 1045 00:46:37.440 --> 00:46:41.119 Well, the personal items, you could still direct where those 1046 00:46:41.159 --> 00:46:44.119 go and probably should in the will. 1047 00:46:44.280 --> 00:46:46.039 Yeah, okay, yeah, I mean there. 1048 00:46:46.000 --> 00:46:47.800 Might be a few items you have and it's it's 1049 00:46:47.840 --> 00:46:49.519 good to say, here's who would be in charge of 1050 00:46:49.519 --> 00:46:54.199 any issue that comes up. Uh, you know for people 1051 00:46:54.239 --> 00:46:56.800 who have adult kids that they want to leave everything too, 1052 00:46:56.880 --> 00:46:59.320 I mean, I don't know, you know, if you're it 1053 00:46:59.320 --> 00:47:01.000 sounds like a most little kids and only one of 1054 00:47:01.000 --> 00:47:03.400 them is on the house, and so she is going to. 1055 00:47:03.400 --> 00:47:04.000 Get that house. 1056 00:47:04.079 --> 00:47:08.519 Yeah, I've got too right, Okay, I'm already but yeah, 1057 00:47:08.559 --> 00:47:10.039 so I'm a pretty simple person. 1058 00:47:10.280 --> 00:47:12.159 Well, hold on, Debbie, I have a question on that. 1059 00:47:12.280 --> 00:47:15.519 So if if the one person that you own the 1060 00:47:15.559 --> 00:47:17.679 house with, are they going to sell it and share 1061 00:47:17.679 --> 00:47:19.480 it with the other sibling or they're going to get 1062 00:47:19.480 --> 00:47:20.119 it all together? 1063 00:47:20.199 --> 00:47:21.159 I mean, what's the plan. 1064 00:47:22.559 --> 00:47:25.679 The plan is she would move here because she loved 1065 00:47:25.679 --> 00:47:28.039 my house. She stays here. My other my son lived 1066 00:47:28.079 --> 00:47:30.360 out of the country. He's in Australia, so. 1067 00:47:30.320 --> 00:47:32.320 He wouldn't have anything to do with the house. 1068 00:47:33.440 --> 00:47:36.119 No, no, And I would make her sell it to 1069 00:47:36.159 --> 00:47:39.119 give him half. She's the one that is here hanging 1070 00:47:39.159 --> 00:47:41.199 out with me. She'll be the one taking care of 1071 00:47:41.239 --> 00:47:45.920 me when the time comes. That's so, yeah, Dan. 1072 00:47:45.840 --> 00:47:48.920 Do you see any issues with what she's saying? Could that? 1073 00:47:49.480 --> 00:47:51.400 And I'm not saying your son would do this, That's 1074 00:47:51.440 --> 00:47:53.840 not my point in this. It's more or less if 1075 00:47:53.880 --> 00:47:56.800 if the son did want to go after that asset, 1076 00:47:56.880 --> 00:47:58.920 there's nothing they could do because the house is in 1077 00:47:58.960 --> 00:48:00.199 the name Imperial Heart. 1078 00:48:00.760 --> 00:48:01.639 I never say never. 1079 00:48:01.719 --> 00:48:04.800 You know, anybody can sue anybody, but it'd be hard Okay, 1080 00:48:05.119 --> 00:48:05.920 you know the other thing. 1081 00:48:06.360 --> 00:48:09.960 So she's in a unique position where she doesn't think 1082 00:48:10.000 --> 00:48:13.079 she needs will would you agree based upon what you've heard? 1083 00:48:13.920 --> 00:48:15.880 I mean, so here's the issue. 1084 00:48:16.239 --> 00:48:18.159 Your bigger risk at any point in your life is 1085 00:48:18.159 --> 00:48:20.280 that you're going to have an incapacity event, not that 1086 00:48:20.320 --> 00:48:22.119 you're going to die. And I don't know if you 1087 00:48:22.159 --> 00:48:24.480 have powers of attorney in place to handle that stuff. 1088 00:48:24.519 --> 00:48:27.599 But that is also important because those dosnated beneficiaries and 1089 00:48:27.679 --> 00:48:31.079 joint ownership are not helpful in that situation. They're only 1090 00:48:31.119 --> 00:48:34.960 helpful if you pass away. So most estate plans cover 1091 00:48:35.119 --> 00:48:37.639 both of those. And then you know, some people want 1092 00:48:37.679 --> 00:48:40.360 to make sure that their kids are receiving stuff in 1093 00:48:40.400 --> 00:48:43.159 some sort of protected way. DOSNEATID beneficiaries don't do that, 1094 00:48:43.400 --> 00:48:46.320 so they can be great. We have clients who do 1095 00:48:46.440 --> 00:48:48.320 choose to do it the way you do it. You've 1096 00:48:48.360 --> 00:48:51.679 done it and set up dosney beneficiaries for everything, so 1097 00:48:51.760 --> 00:48:54.519 that does happen. But there are limitations and you just 1098 00:48:54.519 --> 00:48:56.800 have to keep remembering to keep updating them going forward 1099 00:48:56.840 --> 00:48:59.239 if you change banks or move or whatever else. Because 1100 00:48:59.239 --> 00:49:01.800 it's attached to the asset, it is not like a 1101 00:49:01.840 --> 00:49:04.400 comprehensive plan gotta is piece by piece? 1102 00:49:04.679 --> 00:49:08.639 Could they could what would for example, Medicaid. Let's say 1103 00:49:08.679 --> 00:49:10.599 she does end up in long term and no one's 1104 00:49:10.639 --> 00:49:13.239 got money to pay for it, and she ends up 1105 00:49:13.280 --> 00:49:18.159 on Medicaid in some long term facility, but she's still alive. 1106 00:49:18.719 --> 00:49:21.400 Can they go after her share of that asset? 1107 00:49:21.800 --> 00:49:23.559 That house. I'm just talking about the house. 1108 00:49:23.800 --> 00:49:27.639 Yeah, so that is complicated. It sounds like your daughter 1109 00:49:27.679 --> 00:49:31.000 does not live there now, No, but. 1110 00:49:31.199 --> 00:49:33.559 She would, she would definitely move in. 1111 00:49:33.760 --> 00:49:34.039 Yeah. 1112 00:49:34.280 --> 00:49:36.639 I mean I'm just a mile from her really nice, 1113 00:49:36.719 --> 00:49:37.800 great school district. 1114 00:49:37.920 --> 00:49:40.960 Yeah, but I'm more worried if Medicaid has has some 1115 00:49:41.039 --> 00:49:42.559 kind of land grab and they're. 1116 00:49:42.400 --> 00:49:45.440 Gonna Yeah, if there is a Medicaid situation like the 1117 00:49:45.559 --> 00:49:47.920 fact that a person is owning it but not living there, 1118 00:49:48.000 --> 00:49:51.599 they might still require you to you know, sell that 1119 00:49:51.679 --> 00:49:53.239 house or put a lean on it or something. 1120 00:49:53.320 --> 00:49:54.800 Yeah, so that can happen. 1121 00:49:55.159 --> 00:49:59.360 Yeah, yeah, okay, and my money too, as well as 1122 00:49:59.480 --> 00:50:04.239 by sea. Then that with their beneficiary, they don't have 1123 00:50:04.320 --> 00:50:09.079 access to that Medicaid correct. 1124 00:50:09.360 --> 00:50:11.960 It depends on what kind of access you have to it. 1125 00:50:12.000 --> 00:50:15.599 And again whether you know, again, Medicaid is pretty complicated, 1126 00:50:15.639 --> 00:50:17.360 but they have rules and you know, they're going to 1127 00:50:17.400 --> 00:50:19.480 make uspend your own money first before they take in. 1128 00:50:19.760 --> 00:50:23.119 Really, what I'm hearing, one WI what I'm hearing, and 1129 00:50:23.280 --> 00:50:25.719 you know I'm not the attorney, But what I'm thinking 1130 00:50:25.760 --> 00:50:29.239 here is you should have a conversation with an attorney. 1131 00:50:30.039 --> 00:50:34.559 And the reason being is if you set up things 1132 00:50:34.599 --> 00:50:37.639 in the proper way, and you do them early enough, 1133 00:50:37.760 --> 00:50:40.559 like a three or five year look back, none of 1134 00:50:40.599 --> 00:50:43.320 these things would be an issue if you did go 1135 00:50:43.440 --> 00:50:46.760 into some form of long term care that you couldn't afford. 1136 00:50:46.840 --> 00:50:50.880 And honestly, almost no one can afford long term care anymore. 1137 00:50:51.000 --> 00:50:54.760 I mean, really, what is that jan What does it run? 1138 00:50:55.039 --> 00:50:57.679 What is like a memory What is like a memory 1139 00:50:57.719 --> 00:50:58.239 care run? 1140 00:50:58.360 --> 00:51:01.639 Honestly the cheap ones or you know, probably ten thousand 1141 00:51:01.639 --> 00:51:02.599 a month at the moment. 1142 00:51:02.400 --> 00:51:03.960 Yeah, ten thousand a month forever. 1143 00:51:04.039 --> 00:51:06.719 So so, Debbie, I got to take this break because 1144 00:51:06.719 --> 00:51:09.199 I'm way over. Feel free to hang. If you have 1145 00:51:09.239 --> 00:51:11.440 another question, you can tell Kelly what you want to do. 1146 00:51:11.719 --> 00:51:14.320 And then three lines open in a second. Three oh 1147 00:51:14.320 --> 00:51:16.960 three seven one three A two five five. We've got 1148 00:51:17.000 --> 00:51:19.639 a great update coming up. Well, I don't know if 1149 00:51:19.639 --> 00:51:23.360 it's great. We've got an interesting update coming up. 1150 00:51:28.360 --> 00:51:31.599 Go with a sure thing Denver's Best roofer Excel Roofing 1151 00:51:31.719 --> 00:51:36.880 dot com. You don't pay a cent until you're contenth 1152 00:51:37.760 --> 00:51:40.920 time for an insurance check up free, no obligation comparison 1153 00:51:41.079 --> 00:51:44.639 call Compass Insurance paying too much your coverage at dozens 1154 00:51:44.639 --> 00:51:47.360 of insurance companies find out now three oh three, seven 1155 00:51:47.400 --> 00:51:49.719 to seven to one help. You'll think you're his only 1156 00:51:49.800 --> 00:51:52.280 customer when you choose Frank durand the real estate Man 1157 00:51:52.320 --> 00:51:55.719 dot com to list your home with Remax Alliance three 1158 00:51:55.800 --> 00:51:58.119 oh three nine two zero sixteen twenty two. 1159 00:52:00.039 --> 00:52:02.719 Right three zero three seven one three eight two five 1160 00:52:02.920 --> 00:52:05.920 five three zero three Martinez, we got some lines open 1161 00:52:06.079 --> 00:52:08.840 you've been ripped off or taken advantage of. We want 1162 00:52:08.880 --> 00:52:11.119 to hear from you or any questions you have. We 1163 00:52:11.159 --> 00:52:13.960 can get any of our experts on a referral list 1164 00:52:14.000 --> 00:52:15.280 dot com. 1165 00:52:15.360 --> 00:52:17.000 Hey, I wanted to give this update again. 1166 00:52:17.039 --> 00:52:19.440 It sure looks like I've been emailed twice now that 1167 00:52:19.639 --> 00:52:22.599 Don Eiley, the accountant that stole money from a lot 1168 00:52:22.639 --> 00:52:27.400 of small businesses right here in Colorado, died in federal prison. 1169 00:52:28.599 --> 00:52:31.000 I've been trying to figure out how we died, but 1170 00:52:31.079 --> 00:52:33.760 I can't find anything on it. Zero In fact, I'm 1171 00:52:33.800 --> 00:52:37.199 starting to learn when you die in prison, there's really 1172 00:52:37.239 --> 00:52:39.360 not a lot out there. I mean, I don't know. 1173 00:52:39.400 --> 00:52:41.760 In fact, Dan McKenzie, I don't know if you've ever 1174 00:52:41.840 --> 00:52:45.639 dealt with this, but what happens to like, if you 1175 00:52:45.679 --> 00:52:48.599 have a life insurance policy and go into prison, does 1176 00:52:48.599 --> 00:52:50.920 that matter? I mean, if you get shanked in prison, 1177 00:52:51.159 --> 00:52:53.239 does the policy generally still pay out? 1178 00:52:53.320 --> 00:52:55.880 Or is there how about if you get drafted? 1179 00:52:56.280 --> 00:52:59.280 I mean really, I'm not saying you've dealt with this, 1180 00:52:59.480 --> 00:53:01.760 but if it's been kept up today, why not? 1181 00:53:02.000 --> 00:53:03.119 Yeah, why wouldn't it pay? 1182 00:53:03.239 --> 00:53:03.440 Yeah? 1183 00:53:03.480 --> 00:53:06.000 If they issue the policy, it pays. Have you ever 1184 00:53:06.079 --> 00:53:08.320 dealt with a policy that doesn't want to pay for 1185 00:53:08.320 --> 00:53:09.199 one of your clients? 1186 00:53:09.480 --> 00:53:11.800 I have not. I mean, obviously it could happen. 1187 00:53:12.159 --> 00:53:14.840 But two sides. Generally a clause right in the first 1188 00:53:14.920 --> 00:53:15.639 year or something. 1189 00:53:15.719 --> 00:53:19.119 Yeah, yeah, sometimes there just generally it needs to be 1190 00:53:19.159 --> 00:53:21.280 some time that passes before the kicks in. 1191 00:53:21.480 --> 00:53:23.480 So yeah, it could happen. 1192 00:53:23.679 --> 00:53:26.079 Is that an important part of a lot of people's 1193 00:53:27.159 --> 00:53:28.599 estate is a life insurance. 1194 00:53:28.599 --> 00:53:29.880 It should be. It should be. 1195 00:53:29.960 --> 00:53:33.199 I encourage life insurance because it's cash and it's creditor protected. 1196 00:53:33.199 --> 00:53:35.320 People don't appreciate that like I've got my estate, I 1197 00:53:35.360 --> 00:53:36.719 got my house and my cash and all that kind 1198 00:53:36.719 --> 00:53:38.880 of stuff. But when I pass away, part of the 1199 00:53:38.880 --> 00:53:40.280 process is paying people that I. 1200 00:53:40.239 --> 00:53:40.760 Owe money to. 1201 00:53:41.320 --> 00:53:42.960 And I could owe a lot of money, right, I 1202 00:53:42.960 --> 00:53:44.760 mean I could get in an accident that leads to 1203 00:53:44.800 --> 00:53:46.840 my death and that I caused, right, So my state 1204 00:53:46.880 --> 00:53:49.480 could be getting sued for like millions of dollars. 1205 00:53:49.199 --> 00:53:51.000 But they can't go after that money. 1206 00:53:51.239 --> 00:53:53.719 Yeah, my estate is generally going to be liable for 1207 00:53:53.760 --> 00:53:57.480 that if I lose. But life insurance money is creditor protected, 1208 00:53:57.480 --> 00:53:59.760 meaning like my kids will get that money. 1209 00:54:00.159 --> 00:54:01.159 It's not there to actually pay. 1210 00:54:01.239 --> 00:54:02.760 It's also tax proof, right. 1211 00:54:02.599 --> 00:54:05.880 It is income tax free, so there's no it doesn't 1212 00:54:05.880 --> 00:54:07.960 matter if you have a ten million dollar policy or 1213 00:54:08.119 --> 00:54:09.000 two hundred thousand. 1214 00:54:09.119 --> 00:54:11.239 Yeah, you're not going to pay taxes. Your errors aren't 1215 00:54:11.239 --> 00:54:14.719 going to pay taxes, right, wow, So it's. 1216 00:54:14.559 --> 00:54:15.760 Well worth the life insured. 1217 00:54:15.800 --> 00:54:17.679 Even if you feel like I got plenty and don't 1218 00:54:17.679 --> 00:54:19.039 need life insurance, you probably do. 1219 00:54:19.440 --> 00:54:21.320 You probably do. You just have life insurance and I 1220 00:54:21.320 --> 00:54:21.920 don't sell it. 1221 00:54:22.039 --> 00:54:24.280 I did not know that that did not go into 1222 00:54:24.320 --> 00:54:28.840 the estate to where creditors could go after it. I 1223 00:54:28.880 --> 00:54:32.079 did not know that part yeah, and that's period. I 1224 00:54:32.079 --> 00:54:33.519 mean there's no real exceptions. 1225 00:54:33.840 --> 00:54:36.280 You want to be careful because some people will say 1226 00:54:36.400 --> 00:54:38.920 the beneficiary is my estate or they won't put a 1227 00:54:38.920 --> 00:54:41.320 beneficiary on it in some cases, and they can go 1228 00:54:41.400 --> 00:54:44.159 into the state. Now creditors are there's going to be 1229 00:54:44.159 --> 00:54:45.920 an argument. There's going to be an argument about whether 1230 00:54:45.960 --> 00:54:47.199 they have access to that money or not. 1231 00:54:47.400 --> 00:54:48.679 I got you careful about that. 1232 00:54:48.679 --> 00:54:51.800 Where if you just listed the beneficiaries, yeah, that would 1233 00:54:51.800 --> 00:54:52.960 never be a question. 1234 00:54:52.760 --> 00:54:55.000 Plus created for the beneficiaries if they're kids. 1235 00:54:55.320 --> 00:54:57.199 But the way you said that, even if they did 1236 00:54:57.280 --> 00:55:00.960 accidentally or whatever they put it into the estate or 1237 00:55:00.960 --> 00:55:03.119 put it into a trust for that matter, or anything, 1238 00:55:04.079 --> 00:55:07.000 it sounds like there would be an argument. But most 1239 00:55:07.039 --> 00:55:10.119 of the time they still can't get access to it 1240 00:55:10.239 --> 00:55:10.400 or no. 1241 00:55:10.679 --> 00:55:15.400 It depends on how the fiduciary handled the executor handled 1242 00:55:15.400 --> 00:55:16.920 that sit like did they just mix it in with 1243 00:55:16.960 --> 00:55:19.400 everything else, because we usually tell executors like put that 1244 00:55:19.480 --> 00:55:22.599 in a separate accounts. That's real clear what the life 1245 00:55:22.639 --> 00:55:25.199 insurance money is. I gotcha, you know, so you gotta 1246 00:55:25.199 --> 00:55:27.480 be care like sometimes executives gout there and just start 1247 00:55:27.519 --> 00:55:29.480 doing stuff and kind of grabbing stuff and throw out 1248 00:55:29.440 --> 00:55:30.400 a lot of retirement funds. 1249 00:55:30.440 --> 00:55:31.639 They start grabbing and throat like. 1250 00:55:31.639 --> 00:55:34.480 Retirement funds have tax consequences, so you know, I just 1251 00:55:34.559 --> 00:55:36.039 want to run out there and grab those and same 1252 00:55:36.079 --> 00:55:36.920 thing with life insurance. 1253 00:55:36.960 --> 00:55:39.000 All right, So listen, we're going to take Brian right 1254 00:55:39.039 --> 00:55:41.280 after this. I went long on the last segment. So 1255 00:55:41.760 --> 00:55:44.800 Brian and Dimitri have been working to help this lady out. 1256 00:55:44.960 --> 00:55:47.360 This lady has been out of her condo. 1257 00:55:47.519 --> 00:55:50.960 For over two years and a half years. Two and 1258 00:55:50.960 --> 00:55:51.519 a half years. 1259 00:55:51.559 --> 00:55:53.840 We've been talking about this, and right now the condo's 1260 00:55:53.880 --> 00:55:54.719 basically gutted. 1261 00:55:55.039 --> 00:55:57.280 She had a lot of water damage. There's no drywall 1262 00:55:57.360 --> 00:55:57.559 in there. 1263 00:55:57.599 --> 00:56:01.079 It's basically cement walls, literally cement, because that's the way 1264 00:56:01.639 --> 00:56:04.800 the kindo was built. So Brian went out there and 1265 00:56:05.039 --> 00:56:09.480 the whole thing boils down to this. The leak apparently 1266 00:56:09.559 --> 00:56:13.239 is coming from the roof. Brian is a leak expert, 1267 00:56:13.280 --> 00:56:15.519 no kidding, that's what he does. I believe he's a 1268 00:56:15.639 --> 00:56:16.519 owner of the company. 1269 00:56:16.760 --> 00:56:18.320 Yeah, he's the leak detective. 1270 00:56:18.400 --> 00:56:20.760 Even has a shirt that says that that's it's crazy. 1271 00:56:20.840 --> 00:56:24.079 So he went out there. The HOA is saying, Hey, 1272 00:56:24.079 --> 00:56:26.679 it's not our problem, it's not our leak. So we're 1273 00:56:26.719 --> 00:56:29.559 not going to pay for anything. But when the leak 1274 00:56:29.639 --> 00:56:32.519 detective went out there, he found something different. 1275 00:56:32.559 --> 00:56:34.039 We're going to talk about it after this. 1276 00:56:38.840 --> 00:56:42.119 Go with a sure thing Denver's Best roofer Excel Roofing 1277 00:56:42.199 --> 00:56:44.880 dot com. You don't pay a cent until you're content. 1278 00:56:48.239 --> 00:56:51.440 Time for an insurance checkup free, no obligation. In comparison, 1279 00:56:51.559 --> 00:56:55.119 call Compass Insurance paying too much your coverage at dozens 1280 00:56:55.119 --> 00:56:57.840 of insurance companies find out now three O three seven 1281 00:56:57.880 --> 00:57:00.000 to seven to one help. You'll think you're his own 1282 00:57:00.039 --> 00:57:02.559 only customer when you choose Frank durand the real estate 1283 00:57:02.599 --> 00:57:05.840 Man dot com to list your home with Remax Alliance 1284 00:57:06.079 --> 00:57:08.400 three oh three nine two zero sixteen twenty two. 1285 00:57:09.599 --> 00:57:11.679 All right, three O three seven one three eight two 1286 00:57:11.719 --> 00:57:14.159 five five three oh three Martino. 1287 00:57:14.800 --> 00:57:16.760 Oh my goodness, we got some lines open. 1288 00:57:16.800 --> 00:57:19.039 You've been ripped off taking advantage of call now three 1289 00:57:19.039 --> 00:57:22.039 oh three Martino. Now, Brian, Brian, what was the name 1290 00:57:22.039 --> 00:57:25.159 of the company again, the leak Doctor, Leak Detector. 1291 00:57:27.079 --> 00:57:29.599 Uh, Colorado Underground Detection. 1292 00:57:30.000 --> 00:57:33.920 Okay, what's your website? 1293 00:57:34.119 --> 00:57:35.599 Use deetection dot com. 1294 00:57:35.599 --> 00:57:38.000 Got it, Kelly, if you would put that info up too, 1295 00:57:38.079 --> 00:57:39.440 so I have it to give it out. 1296 00:57:39.679 --> 00:57:43.000 So were you actually Dmitri? Was he actually hired what 1297 00:57:43.079 --> 00:57:44.000 was the caller's name? 1298 00:57:44.840 --> 00:57:47.840 Khaliah was the lady whose unit got flooded out two 1299 00:57:47.840 --> 00:57:50.400 and a half years ago, And I went to meet 1300 00:57:50.480 --> 00:57:54.519 her and Brian as well as three other leak detectors 1301 00:57:54.559 --> 00:57:57.679 and the ho Wa. There's a contingent of about they're 1302 00:57:57.679 --> 00:57:59.880 probably about eight of us over there, and that's what 1303 00:58:00.280 --> 00:58:03.079 Brian and I met. And that's the day that Brian 1304 00:58:03.159 --> 00:58:05.719 went up to the roof and I think I'll just 1305 00:58:05.760 --> 00:58:06.559 we should just leave it. 1306 00:58:06.519 --> 00:58:07.239 Up to Brian the time. 1307 00:58:07.280 --> 00:58:09.559 Well, Brian, why I still want to understand why you 1308 00:58:09.639 --> 00:58:12.039 were out there? Did she hire you? Did she call 1309 00:58:12.079 --> 00:58:14.920 you up? Were you out there from her insurance company? 1310 00:58:14.960 --> 00:58:16.719 What? Why were you out there? 1311 00:58:18.719 --> 00:58:18.880 Now? 1312 00:58:18.960 --> 00:58:23.159 Koala called me out to figure out why water is 1313 00:58:23.159 --> 00:58:24.239 still entering her home. 1314 00:58:24.440 --> 00:58:24.840 Awesome. 1315 00:58:24.880 --> 00:58:27.159 And when I showed up, we had it's stripped down 1316 00:58:27.199 --> 00:58:30.079 to studs, so all the drywall, all the insulation is gone. 1317 00:58:30.719 --> 00:58:32.719 It's been condemned by the Department of Health. 1318 00:58:32.920 --> 00:58:34.079 Oh my god, she. 1319 00:58:34.159 --> 00:58:37.400 Can't rebuild because the water is continuing to come in 1320 00:58:37.519 --> 00:58:39.079 every time it rains or snows. 1321 00:58:39.199 --> 00:58:42.159 Well, how's that possible? Was someone living over her? How 1322 00:58:42.239 --> 00:58:44.440 about how how come the person on top of her 1323 00:58:44.679 --> 00:58:46.119 unit hasn't been condemned? 1324 00:58:47.000 --> 00:58:51.760 Oh, that the unit is getting flooded. But but the 1325 00:58:51.880 --> 00:58:55.559 lady who lives there, you know, she's she's alone, and 1326 00:58:55.639 --> 00:58:58.880 she's a she's an immigrant, and I'm sure she's kind 1327 00:58:58.880 --> 00:59:00.000 of lost in the process. 1328 00:59:00.159 --> 00:59:01.719 You talk to her, Dimitri. 1329 00:59:01.519 --> 00:59:03.559 Oh, no, but Khalia has. 1330 00:59:03.920 --> 00:59:07.360 So but her unit's not condemned. Is this the only 1331 00:59:07.440 --> 00:59:08.840 condemned unit we know of? 1332 00:59:08.960 --> 00:59:14.239 Yes, it's condemned because Khaliah called the health department in 1333 00:59:14.239 --> 00:59:17.880 an attempt to get some help to force the HOA. 1334 00:59:17.519 --> 00:59:19.679 To fix the lead, and they condemned it. 1335 00:59:19.800 --> 00:59:20.719 And they condemned it. 1336 00:59:20.760 --> 00:59:23.239 They issue, well the word I met the guy from 1337 00:59:23.239 --> 00:59:25.920 the city of Denver. He didn't use the word condemned. 1338 00:59:26.039 --> 00:59:29.320 He said it was an thirty day order to repair 1339 00:59:29.639 --> 00:59:31.360 or and it's been way over that. 1340 00:59:31.519 --> 00:59:33.440 Yeah, of course, so so over. 1341 00:59:33.559 --> 00:59:35.920 I still want to understand this over the unit on 1342 00:59:36.000 --> 00:59:39.599 top of her, where someone's living, there's another unit or 1343 00:59:39.639 --> 00:59:40.920 do we finally hit the roof. 1344 00:59:41.480 --> 00:59:43.199 Yes, it's just the two story building. 1345 00:59:43.360 --> 00:59:45.880 Two story Okay, So Brian, you went out there, and 1346 00:59:45.920 --> 00:59:49.679 where is the water that's coming in to hers? 1347 00:59:49.880 --> 00:59:50.119 Well? 1348 00:59:50.239 --> 00:59:52.440 I mean, it's evident it's coming in from the woman 1349 00:59:52.480 --> 00:59:56.519 above her, but beyond that, where's it coming in from? 1350 00:59:57.360 --> 00:59:59.039 Just to give an idea as to how the building 1351 00:59:59.119 --> 01:00:02.519 is built. It's all constructions. So they pour these slabs 1352 01:00:02.519 --> 01:00:05.360 in place and then raise them up and connect all 1353 01:00:05.400 --> 01:00:09.039 four walls, so it's a big square block. And then 1354 01:00:09.079 --> 01:00:12.039 they have a concrete roof that's poured, and then they 1355 01:00:12.079 --> 01:00:16.559 have multiple layers of roofing material. And what's happening is 1356 01:00:16.639 --> 01:00:19.320 the water. In my opinion, the water is coming through 1357 01:00:19.360 --> 01:00:21.960 the roof, through all the little holes, and it's running 1358 01:00:22.000 --> 01:00:27.239 down the concrete walls and causing mold development in the 1359 01:00:27.280 --> 01:00:29.440 lower unit, which is my client's unit. 1360 01:00:29.920 --> 01:00:33.239 Well, why would it. Are you under the impression it's 1361 01:00:33.239 --> 01:00:34.800 skipping that lady over her? 1362 01:00:37.280 --> 01:00:37.480 Well? 1363 01:00:37.480 --> 01:00:40.679 I did an inspection of the upstairs unit yesterday and 1364 01:00:40.920 --> 01:00:44.599 was able to see a lot of mold growth between 1365 01:00:44.719 --> 01:00:49.119 the actual roof and her ceiling. So I popped the 1366 01:00:49.119 --> 01:00:51.440 ceiling tile up and looked up back there and I 1367 01:00:51.480 --> 01:00:54.440 saw tons of mold growth. It's continuous. 1368 01:00:54.519 --> 01:00:58.280 And this woman's living there about a week, Yes she is, 1369 01:00:58.320 --> 01:01:00.920 and she has a do you humidify in her home? 1370 01:01:01.400 --> 01:01:04.280 And yesterday I just checked them bot to humidity exterior 1371 01:01:04.440 --> 01:01:07.440 was about twenty to twenty five percent. When I went interior, 1372 01:01:07.480 --> 01:01:10.679 we're looking at about twenty three point nine percent, about 1373 01:01:10.679 --> 01:01:14.239 forty one percent in the kitchen. So the humidity is 1374 01:01:14.320 --> 01:01:16.440 not as much as you would think it would be 1375 01:01:16.519 --> 01:01:22.199 to cause either condensation development on that concrete. Because you 1376 01:01:22.239 --> 01:01:24.000 think you have exterior walls that are concrete and the 1377 01:01:24.000 --> 01:01:26.440 outside of that concrete is cold, the inside is warm, 1378 01:01:26.800 --> 01:01:29.960 you could be developing condensation on those walls is causing 1379 01:01:29.960 --> 01:01:33.199 the issue. But her you know, if her relative humidity 1380 01:01:33.280 --> 01:01:35.800 was eighty percent plus, yeah, I could say that's probably 1381 01:01:35.840 --> 01:01:40.199 the issue. But after running water on the roof for 1382 01:01:40.239 --> 01:01:43.320 about an hour, and this is back on the sixth, 1383 01:01:44.280 --> 01:01:47.119 I was able to see water actually coming down into 1384 01:01:47.880 --> 01:01:48.880 my client's unit. 1385 01:01:49.639 --> 01:01:51.679 So this is incredible. 1386 01:01:51.960 --> 01:01:55.760 I have to say the roof is the issue, and 1387 01:01:55.800 --> 01:01:58.920 I believe that stands in the you know, homeowner's responsibility 1388 01:01:58.920 --> 01:02:01.920 to get it fixed. But my client cannot rebuild her 1389 01:02:02.039 --> 01:02:05.880 unit until the water stops. I mean, otherwise she rebuilds it. 1390 01:02:05.960 --> 01:02:09.480 And they're just flat out. They're just flat out doing nothing. Dmitri. 1391 01:02:10.719 --> 01:02:13.280 I mean, I know we've talked about this numerous times, 1392 01:02:13.320 --> 01:02:17.039 but did you give like a report, Brian, have you 1393 01:02:17.199 --> 01:02:20.800 talked to anybody at the HOA or at least written 1394 01:02:20.840 --> 01:02:22.760 something out. 1395 01:02:23.519 --> 01:02:27.280 Yes, I've given reporters to each visit that I've made 1396 01:02:27.320 --> 01:02:32.320 out there and the evidence that I've seen. So my 1397 01:02:32.440 --> 01:02:35.519 client has that information and I believe she has passed 1398 01:02:35.519 --> 01:02:39.159 that off to the HOA. What they've done with it, 1399 01:02:39.199 --> 01:02:41.119 I have no idea. It just looks like they've been 1400 01:02:41.159 --> 01:02:43.400 sitting on it for far too long. And when I 1401 01:02:43.440 --> 01:02:46.079 see a client in a situation like this, that's why 1402 01:02:46.119 --> 01:02:47.360 I thought it was so important to bring it to 1403 01:02:47.400 --> 01:02:49.719 your attention, because she really needs help. Kay. 1404 01:02:49.880 --> 01:02:52.280 We just I mean, this is one of these ones. 1405 01:02:52.360 --> 01:02:56.559 It's over two years. Over two years, I have no 1406 01:02:56.719 --> 01:02:59.440 idea what they're possibly. 1407 01:03:01.360 --> 01:03:03.920 She's going to teach her salary so she teaches music. 1408 01:03:04.079 --> 01:03:06.320 Did she get her did she get all the proceeds 1409 01:03:06.320 --> 01:03:07.679 from insurance? Yet? 1410 01:03:08.079 --> 01:03:12.559 No, Farmers hasn't paid here, Farmers hasn't even paid her 1411 01:03:12.599 --> 01:03:15.360 for the personal property that was destroyed in the flooding. 1412 01:03:16.239 --> 01:03:19.519 And Farmers and by the way, Khalia has been seeing 1413 01:03:19.599 --> 01:03:22.119 you on a bunch of these communications with her insurance company. 1414 01:03:23.000 --> 01:03:27.320 Farmers just simply Kalia asked, Hey, when am I gonna 1415 01:03:27.320 --> 01:03:30.599 get reimbursed for the personal property and there's no answer. 1416 01:03:31.239 --> 01:03:33.920 And well that's where a public adjuster could help. 1417 01:03:34.079 --> 01:03:36.840 Yeah, math for Paragon would be an awesome resource for her. 1418 01:03:37.199 --> 01:03:39.639 I wonder if it's even I mean, it's definitely worth 1419 01:03:39.639 --> 01:03:42.039 a call over there, see if we can get mad on. 1420 01:03:42.599 --> 01:03:45.760 But this is it's like when no one's doing anything. 1421 01:03:45.800 --> 01:03:49.239 I almost feel like we're missing something, like are you 1422 01:03:49.320 --> 01:03:52.199 sure she hasn't gone through foreclosure and doesn't even own 1423 01:03:52.239 --> 01:03:55.000 it at this point, I mean anything like that. 1424 01:03:55.400 --> 01:03:57.079 Are they threatening foreclosure? 1425 01:03:57.320 --> 01:04:01.119 Yeah, she's so you know, she is not getting delinquency 1426 01:04:01.199 --> 01:04:03.800 letters from the association for the past. 1427 01:04:03.559 --> 01:04:05.920 Two just from the ho way. Not for the mortgage. 1428 01:04:06.039 --> 01:04:10.159 No, she's been making mortgage payments. She's she she ran 1429 01:04:10.199 --> 01:04:13.039 out of money a few months ago when her apartment 1430 01:04:13.239 --> 01:04:16.440 when her insurance company stopped paying for her temporary apartments 1431 01:04:16.440 --> 01:04:20.639 because that benefit ran out after two years. So Koleia 1432 01:04:20.800 --> 01:04:24.360 is paying rent mortgage and now she's fallen several months 1433 01:04:24.360 --> 01:04:25.559 behind an association. 1434 01:04:25.760 --> 01:04:26.760 Dudes, Oh my god. 1435 01:04:26.800 --> 01:04:28.519 And by the way, in addition to being a teacher, 1436 01:04:28.559 --> 01:04:31.239 she took two more jobs to try to make ads met. 1437 01:04:31.559 --> 01:04:32.880 This is just nuts. 1438 01:04:32.960 --> 01:04:36.000 And she's got an amazing attitude too. She she's the 1439 01:04:36.039 --> 01:04:37.480 sweetest woman I've ever met. 1440 01:04:37.599 --> 01:04:39.719 Old is she roughly? And not that it matters. I'm 1441 01:04:39.760 --> 01:04:40.800 just curious you. 1442 01:04:40.880 --> 01:04:43.159 Starting to tell I think she's probably kind of what 1443 01:04:43.199 --> 01:04:44.639 do you think Brian's middle aged? 1444 01:04:45.119 --> 01:04:46.559 I would say I would say thirties. 1445 01:04:46.960 --> 01:04:48.679 Okay, yeah, probably low thirties. 1446 01:04:49.039 --> 01:04:50.199 Is there any kids involved? 1447 01:04:50.239 --> 01:04:50.400 There? 1448 01:04:50.519 --> 01:04:50.559 No? 1449 01:04:51.440 --> 01:04:54.119 God, hold on a second, Brian. I had some other 1450 01:04:54.239 --> 01:04:56.079 questions for you, but I got to take this break 1451 01:04:56.440 --> 01:04:58.480 to Meitri. I know you've been working on this and 1452 01:04:58.639 --> 01:05:01.559 we constantly bring it up on not even I'm not 1453 01:05:01.599 --> 01:05:03.599 even sure where to go on it. We can see 1454 01:05:03.599 --> 01:05:07.159 if Matt can get involved and help from the insurance 1455 01:05:07.199 --> 01:05:10.599 part of it, but there's no reason to rebuild anything. 1456 01:05:10.639 --> 01:05:13.559 To get her money for her personal property would be great, 1457 01:05:13.920 --> 01:05:16.199 but there's no reason to put drywall up. If every 1458 01:05:16.280 --> 01:05:19.679 time it rains or snows, everything's going to be destroyed again. 1459 01:05:19.719 --> 01:05:22.119 So they've got to do the roof. 1460 01:05:22.199 --> 01:05:25.199 I mean, they have to fix the problem absolutely, and 1461 01:05:25.280 --> 01:05:25.840 to make me what. 1462 01:05:25.880 --> 01:05:28.000 HAPs if the HOA doesn't have any money? 1463 01:05:28.719 --> 01:05:30.880 Yeah, I'm wondering if that's what's going on. I mean, 1464 01:05:30.960 --> 01:05:35.280 what reason does that association have not to fix a 1465 01:05:35.400 --> 01:05:37.800 leaky roof other than they can't afford to. 1466 01:05:38.039 --> 01:05:41.880 And then the lady above he said he found mold there. 1467 01:05:42.039 --> 01:05:47.079 I mean it's crazy, it's absolutely bonkers. Hold tight, hold on, 1468 01:05:47.119 --> 01:05:47.559 hold on. 1469 01:05:51.960 --> 01:05:55.199 Go with a sure thing Denver's best roofer Excel Roofing 1470 01:05:55.320 --> 01:05:55.880 dot com. 1471 01:05:55.920 --> 01:05:57.960 You don't pay a cent until you're content. 1472 01:06:01.320 --> 01:06:04.519 Time for an insurance check up free, no obligation comparison 1473 01:06:04.639 --> 01:06:08.199 call Compass Insurance paying too much your coverage at dozens 1474 01:06:08.239 --> 01:06:10.960 of insurance companies find out now three oh three, seven 1475 01:06:10.960 --> 01:06:13.320 to seven to one help. You'll think you're his only 1476 01:06:13.400 --> 01:06:15.880 customer when you choose Frank durand the real estate Man 1477 01:06:15.920 --> 01:06:19.320 dot com to list your home with Remax Alliance three 1478 01:06:19.400 --> 01:06:22.280 oh three nine two zero sixteen twenty two. 1479 01:06:23.400 --> 01:06:26.280 Oh man, we were just talking about the Texas kids. 1480 01:06:26.719 --> 01:06:27.880 It's so sad. Mark. 1481 01:06:27.960 --> 01:06:30.440 Yeah, well, well we might talk about that a little 1482 01:06:30.440 --> 01:06:35.000 bit next hour. Basically we were talking to Brian and 1483 01:06:35.039 --> 01:06:36.920 I want to finish up with this, and Larry's got 1484 01:06:36.920 --> 01:06:40.119 a question for Dan McKenzie. And you can get your 1485 01:06:40.119 --> 01:06:41.920 calls and now we have two lines open three oh 1486 01:06:42.000 --> 01:06:44.119 three Martino, three oh three Martina. 1487 01:06:44.159 --> 01:06:46.679 We have two hours ago. But here's the deal. 1488 01:06:46.800 --> 01:06:50.199 Brian We really appreciate how you've been helping this lady out, 1489 01:06:50.679 --> 01:06:53.039 and she is going to see one of our real 1490 01:06:53.159 --> 01:06:57.679 estate attorneys, Bradley O'Brien, who hopefully can help her get 1491 01:06:57.719 --> 01:07:00.440 the HOA to step up and repair this room. It's 1492 01:07:00.519 --> 01:07:05.159 evident there's water coming in with Brian's testimony or Brian's report, 1493 01:07:05.519 --> 01:07:08.840 so there's no doubt about that. But Brian, really quick 1494 01:07:08.920 --> 01:07:11.719 outside of this, how did you even get involved in 1495 01:07:11.800 --> 01:07:14.639 leak detection? How does someone wake up and go I'm 1496 01:07:14.679 --> 01:07:17.519 going to solve water problems? I mean, really, how'd you 1497 01:07:17.559 --> 01:07:18.199 get involved? 1498 01:07:18.199 --> 01:07:18.440 Man? 1499 01:07:20.079 --> 01:07:22.440 Well, I've been in plumbing since eighty nine. I've been 1500 01:07:22.440 --> 01:07:26.239 a master plumber since ninety seven. Nice and I moved 1501 01:07:26.239 --> 01:07:28.519 my way up through on my own plumbing company to 1502 01:07:28.719 --> 01:07:33.239 becoming a superintendent and then started working as a custom 1503 01:07:33.280 --> 01:07:36.239 home builder and had to retire from that about twelve 1504 01:07:36.360 --> 01:07:38.400 years ago due to a back injury. 1505 01:07:38.599 --> 01:07:40.079 Oh, I had. 1506 01:07:39.960 --> 01:07:43.719 Back surgery in twenty twelve. It was not fun, and 1507 01:07:43.800 --> 01:07:46.840 it's like, what can I do to build on my knowledge? 1508 01:07:47.159 --> 01:07:50.000 And a friend of mine suggested leak detection, which has 1509 01:07:50.039 --> 01:07:52.480 always been interesting to me. But there's really it was 1510 01:07:52.559 --> 01:07:54.719 very hard to get into because there's really no schools 1511 01:07:54.719 --> 01:07:59.320 out there until now. So I got into leak detection 1512 01:08:00.039 --> 01:08:03.000 years ago and just so in love with it. It's something 1513 01:08:03.039 --> 01:08:09.119 new I happen to keep track of. I was looking 1514 01:08:09.159 --> 01:08:12.679 at average each month. So if you look at a 1515 01:08:12.760 --> 01:08:17.000 one gallon minute per leak, it's forty three two hundred 1516 01:08:17.000 --> 01:08:19.399 gallons a month. Oh my god, minutes we having a month. 1517 01:08:19.479 --> 01:08:21.840 So a little innother words, a little drip can cause 1518 01:08:21.840 --> 01:08:23.000 all the damage in the world. 1519 01:08:23.000 --> 01:08:24.079 That's the bottom line. 1520 01:08:25.359 --> 01:08:27.560 Yeah, And I was hoping to conserve twelve million gallons 1521 01:08:27.600 --> 01:08:29.680 a month. So I said to myself about three or 1522 01:08:29.680 --> 01:08:31.239 four years ago, what can I do to make a 1523 01:08:31.239 --> 01:08:34.239 bigger impact? And I started at school. So now I'm 1524 01:08:34.279 --> 01:08:35.079 actually teaching. 1525 01:08:35.439 --> 01:08:38.319 Is all that I'm up against the herdbreak? But is 1526 01:08:38.319 --> 01:08:38.720 all that? 1527 01:08:39.119 --> 01:08:45.279 Is all this information on cudetection dot com. Yeah, true, 1528 01:08:45.399 --> 01:08:48.399 All right, listen, anybody out there wants to learn more 1529 01:08:48.439 --> 01:08:50.800 about that, or if you have a problem, more importantly 1530 01:08:50.800 --> 01:08:54.119 a leak, check out seeudetection dot com. You've been very 1531 01:08:54.159 --> 01:08:58.159 good helping Dmitri out on this case. Larry, Please hold on. 1532 01:08:58.239 --> 01:09:00.279 I promise I'll bring you up next after the break. 1533 01:09:00.640 --> 01:09:02.880 Three zero three Martino. 1534 01:09:04.960 --> 01:09:08.199 Go with a sure thing Denver's best roofer Excel Roofing 1535 01:09:08.319 --> 01:09:10.960 dot com. You don't pay a cent until you're content. 1536 01:09:12.600 --> 01:09:16.800 Leave time for an insurance check up free no obligation. 1537 01:09:16.920 --> 01:09:20.800 Comparison call Compass Insurance paying too much your coverage at 1538 01:09:20.840 --> 01:09:23.600 dozens of insurance companies find out now three oh three 1539 01:09:23.720 --> 01:09:26.319 seven seven to one help. You'll think you're his only 1540 01:09:26.399 --> 01:09:28.880 customer when you choose Frank durand the real estate Man 1541 01:09:28.920 --> 01:09:32.319 dot com to list your home with Remax Alliance three 1542 01:09:32.399 --> 01:09:34.479 oh three nine two zero sixteen twenty two. 1543 01:09:40.119 --> 01:09:49.479 Ripped News need who you don't have? Run anxiousness as 1544 01:09:49.560 --> 01:09:52.640 we can show. Shooter's gonna help. 1545 01:09:52.920 --> 01:09:59.000 Come man, this is the Troubleshooter Show. No Tom Martino, 1546 01:09:59.600 --> 01:10:00.359 Welcome my. 1547 01:10:00.239 --> 01:10:02.600 Friends to the only show of its KINDRA here to 1548 01:10:02.640 --> 01:10:06.279 solve problems, answer questions, take complaints. I got Dan McKenzie 1549 01:10:06.319 --> 01:10:08.800 in with me, attorney at Law. I haven't given his 1550 01:10:08.880 --> 01:10:12.399 number out enough, but it's eight three three co plans 1551 01:10:12.680 --> 01:10:15.319 any questions you have on your estate or a trust 1552 01:10:15.640 --> 01:10:16.960 or probate. 1553 01:10:16.560 --> 01:10:18.000 Anything you can imagine. 1554 01:10:19.000 --> 01:10:21.079 He is here to answer your questions today and one 1555 01:10:21.119 --> 01:10:23.720 of the first calls will go is exactly that. But 1556 01:10:24.000 --> 01:10:26.039 we have real quick I need to get to Matt 1557 01:10:26.079 --> 01:10:29.760 with Paragon Services. He's one of the experts on a 1558 01:10:29.840 --> 01:10:32.239 referral list at referral list dot com. And Matt, I'm 1559 01:10:32.279 --> 01:10:37.079 gonna ask you some really basic, basic questions about a 1560 01:10:37.119 --> 01:10:40.840 particular case we're working on here and basically for people 1561 01:10:40.840 --> 01:10:43.560 out there at public adjuster is someone that helps you 1562 01:10:43.680 --> 01:10:46.279 fight with the insurance company. Matt, I want you to 1563 01:10:46.319 --> 01:10:49.840 picture a claim put in that's over two years old. 1564 01:10:49.880 --> 01:10:51.279 The original claim was put in. 1565 01:10:52.159 --> 01:10:55.279 It's in a condo, so she doesn't have any control 1566 01:10:55.319 --> 01:10:56.079 over the roof. 1567 01:10:56.399 --> 01:11:00.720 With the exception she pays into the hoa. So the roof. 1568 01:11:00.520 --> 01:11:03.760 Has been leaking for two years. It got really bad 1569 01:11:03.800 --> 01:11:06.159 about two and a half years ago. It rained so 1570 01:11:06.279 --> 01:11:09.560 hard it flooded the whole place. The insurance did accept 1571 01:11:09.560 --> 01:11:12.840 the claim for her policy for the condo, so basically 1572 01:11:12.880 --> 01:11:15.680 the dry wall or the cement out. So right now 1573 01:11:15.760 --> 01:11:18.680 where it stands is they gutted the entire thing, Matt, 1574 01:11:19.239 --> 01:11:24.039 and they can't rebuild yet. Remember the timeframe we're talking 1575 01:11:24.079 --> 01:11:27.039 about two and a half years. So she puts the 1576 01:11:27.079 --> 01:11:29.439 claim in, they agree they're going to rebuild the whole 1577 01:11:29.439 --> 01:11:33.000 thing because it flooded. They get down to where all 1578 01:11:33.000 --> 01:11:35.840 the waters out of there. They're ready to start rebuilding, 1579 01:11:36.039 --> 01:11:39.119 but the problem is water keeps coming in. It's coming 1580 01:11:39.239 --> 01:11:41.960 in from the roof of the condo, and on top 1581 01:11:42.000 --> 01:11:45.399 to add insult injury, she actually has somebody else that 1582 01:11:45.479 --> 01:11:49.880 owns a unit above her. That unit is saturated as well, 1583 01:11:50.239 --> 01:11:52.319 but we're not going to get into that part. But 1584 01:11:52.479 --> 01:11:55.199 every time it rains, the water comes in. So she 1585 01:11:55.359 --> 01:12:00.920 hasn't rebuilt, but her insurance company basically I the mold 1586 01:12:01.000 --> 01:12:03.840 claim two and a half years later, and I can 1587 01:12:03.960 --> 01:12:06.079 understand that. So let me ask you that right off 1588 01:12:06.079 --> 01:12:10.279 the bat, do you understand why the insurance company would 1589 01:12:10.319 --> 01:12:13.000 deny the mold after two and a half years coming in? 1590 01:12:14.159 --> 01:12:17.079 Yeah, I mean typically they're going to say that that's 1591 01:12:17.119 --> 01:12:19.520 been an ongoing issue and it should have been remedied. Now, 1592 01:12:19.640 --> 01:12:22.039 if that was a house, that's a slam donkets on 1593 01:12:22.079 --> 01:12:25.039 the homeowner. But because this is a condo, the HOA 1594 01:12:25.119 --> 01:12:28.880 is responsible for, you know, taking care of that roof 1595 01:12:29.039 --> 01:12:31.960 that's gotta be fixed before anything's done, obviously, and. 1596 01:12:31.920 --> 01:12:34.840 They're not doing anything. That's where we're to the point 1597 01:12:34.920 --> 01:12:37.840 where everybody in a way is throwing their arms up 1598 01:12:37.880 --> 01:12:41.319 in the air. We've had one deputy deputy, Dimitri, that's 1599 01:12:41.319 --> 01:12:44.039 been trying to fix this thing forever man and they 1600 01:12:44.079 --> 01:12:47.720 can't get the HOA to do anything. She actually hired someone. 1601 01:12:47.800 --> 01:12:51.319 In fact, his name's Brian. He's still on but he 1602 01:12:51.680 --> 01:12:53.680 is a leak guy. That's all he does. He's a 1603 01:12:53.720 --> 01:12:56.560 master plumber. But he started a company that goes out 1604 01:12:56.560 --> 01:12:59.079 and figures out what's leaking. He got up there on 1605 01:12:59.159 --> 01:13:02.920 the roof very recently and started spraying just water with 1606 01:13:03.039 --> 01:13:06.000 a hose and sure enough it comes right down into 1607 01:13:06.039 --> 01:13:09.479 her unit. But the HOA won't do a damn thing. 1608 01:13:09.800 --> 01:13:11.920 And it's been two and a half years. The other 1609 01:13:11.960 --> 01:13:14.479 part with the insurance company I want to throw out there, 1610 01:13:14.479 --> 01:13:18.399 Matt Is she's been trying to get her contents paid for. 1611 01:13:18.640 --> 01:13:21.079 Who is the insurance company Farmer's Insurance. 1612 01:13:21.159 --> 01:13:23.840 Farmers won't even cough up the money for the contents 1613 01:13:24.119 --> 01:13:24.920 at this point. 1614 01:13:25.960 --> 01:13:29.640 Yeah, well, I can dig in and probably get this escalated, 1615 01:13:29.800 --> 01:13:32.520 and we can talk about the timelines. Normally two years 1616 01:13:32.560 --> 01:13:34.159 as the magic number. And now I can tell you 1617 01:13:34.239 --> 01:13:38.680 this getting a lawyer involved usually have three years to dispute. 1618 01:13:39.199 --> 01:13:41.239 So we still got some wiggle room. If we go 1619 01:13:41.319 --> 01:13:44.119 that room, I would need to just dig in and 1620 01:13:44.159 --> 01:13:46.399 see what farmers, see what their intentions are, and do 1621 01:13:46.479 --> 01:13:49.640 my best to get with the HOA and rattle their cage. 1622 01:13:49.680 --> 01:13:51.359 I don't have a whole lot of clout because I 1623 01:13:51.359 --> 01:13:53.920 don't represent the HOA, but I can sure go call 1624 01:13:53.960 --> 01:13:57.000 over there and see what's what. Because this situation is 1625 01:13:57.039 --> 01:13:58.760 not going to fix itself, period. 1626 01:13:58.920 --> 01:14:01.199 They simply decline to put a roof on her or 1627 01:14:01.239 --> 01:14:03.439 fix it forgetting it about even putting it on it, 1628 01:14:03.600 --> 01:14:08.039 just it seems crazy unless they're broke. And then if 1629 01:14:08.079 --> 01:14:10.800 they are broke, I mean, that's not good for anybody. 1630 01:14:11.840 --> 01:14:15.279 Yeah, and another option too. We sometimes can get in 1631 01:14:15.399 --> 01:14:18.439 the primary carrier to cover everything, and then they subrogate 1632 01:14:18.479 --> 01:14:20.960 and go after you know, the hoa's insurance company or 1633 01:14:21.000 --> 01:14:23.319 whoever they have to to get reversed. So that's an 1634 01:14:23.319 --> 01:14:23.880 option too. 1635 01:14:24.359 --> 01:14:26.960 I like the idea of putting him in touch. I mean, 1636 01:14:27.000 --> 01:14:29.840 she's basically what happens is she gives them power of 1637 01:14:29.880 --> 01:14:33.119 attorney over this. He digs through it, he calls up Farmers, 1638 01:14:33.199 --> 01:14:35.960 and he says, hey, man, you're not dealing with this 1639 01:14:36.039 --> 01:14:37.000 poor woman anymore. 1640 01:14:37.039 --> 01:14:37.800 You're dealing with me. 1641 01:14:38.520 --> 01:14:41.239 I think that's right idea, And the other thing is too, 1642 01:14:41.880 --> 01:14:43.479 Where is she staying in the meantime? 1643 01:14:43.760 --> 01:14:47.439 Oh man, So her insurance company rented her an apartment 1644 01:14:47.520 --> 01:14:50.319 for two years. They paid, but that benefit just ran 1645 01:14:50.399 --> 01:14:52.560 out a few months ago, so now she's paying for 1646 01:14:52.600 --> 01:14:53.159 a rental. 1647 01:14:54.079 --> 01:14:57.079 So it sounds like Farmers is behaving because if they 1648 01:14:57.079 --> 01:15:00.680 were offering two years, that's a pretty good sign that 1649 01:15:00.720 --> 01:15:02.760 they they're just trying to do their best. But they're 1650 01:15:02.840 --> 01:15:05.199 kind of stuck in this position too, I know, the 1651 01:15:05.359 --> 01:15:06.319 HLA cooperating. 1652 01:15:06.399 --> 01:15:08.840 Yeah, they're still Yeah, they're stuck in the rebuilding part 1653 01:15:08.880 --> 01:15:12.479 of this project. However, you know, she just recently made 1654 01:15:12.479 --> 01:15:16.439 a claim for the mold infestation which developed in the meantime, 1655 01:15:16.720 --> 01:15:18.359 and they told her to go pound sand. 1656 01:15:18.560 --> 01:15:19.439 Can you take a look at it. 1657 01:15:19.640 --> 01:15:22.920 She probably doesn't have much mold start interrupts. She probably 1658 01:15:22.960 --> 01:15:26.039 does not have mold coverage beyond maybe five or start 1659 01:15:26.239 --> 01:15:30.039 ten thousand anyway. But you're right, that's something that should 1660 01:15:30.039 --> 01:15:33.319 be addressed. It's not your fault or her fault, or 1661 01:15:33.359 --> 01:15:36.159 anyone's fault that other than the HOA is that unit's 1662 01:15:36.159 --> 01:15:39.279 been sitting there and getting moldy, so that burden would 1663 01:15:39.319 --> 01:15:40.720 fall into HOA in my opinion. 1664 01:15:41.319 --> 01:15:43.600 Yeah, But once again, we're hoping the fact they won't 1665 01:15:43.600 --> 01:15:47.000 even repair this roof. And then the lady over her, 1666 01:15:47.760 --> 01:15:49.800 that apartment is in horrible shape. 1667 01:15:49.800 --> 01:15:50.000 Man. 1668 01:15:50.640 --> 01:15:53.399 In other words, with that leak detector. Guy Brian was 1669 01:15:53.439 --> 01:15:55.399 in there. Hold on, let me bring him up real quick. 1670 01:15:55.600 --> 01:15:58.359 Hey Brian, you were in the apartment above her? Or 1671 01:15:58.359 --> 01:16:00.640 I'm sorry, kind of above he yesterday? 1672 01:16:00.680 --> 01:16:01.199 Is that right? 1673 01:16:01.279 --> 01:16:02.119 Or really recent? 1674 01:16:03.640 --> 01:16:04.199 That's correct. 1675 01:16:04.760 --> 01:16:08.479 Listen to this, Matt, go ahead, describe the apartment above her. 1676 01:16:08.520 --> 01:16:10.239 I keep say an apartment condo. 1677 01:16:11.880 --> 01:16:15.399 So thanks so much for listening. Yeah, I was researching 1678 01:16:15.399 --> 01:16:17.039 because as a lead detective, I have to go through 1679 01:16:17.079 --> 01:16:19.640 and evaluate every possible way water I can get into 1680 01:16:19.920 --> 01:16:23.560 a residence. And when I was inspecting the upstairs unit, 1681 01:16:24.079 --> 01:16:28.119 it looks pretty clean. But when I popped the panel 1682 01:16:28.239 --> 01:16:31.439 to gain access between her ceiling and the actual roof, 1683 01:16:31.960 --> 01:16:35.079 I saw mold growth coming down the walls. So there's 1684 01:16:35.199 --> 01:16:38.319 mold on a concrete behind the two by fours in 1685 01:16:38.439 --> 01:16:41.359 dry wall in the upstairs residence. So she may not 1686 01:16:41.439 --> 01:16:44.119 even know that she has mold growing behind her walls. 1687 01:16:44.159 --> 01:16:47.960 And what's crazy, Matt, is this apartment complex. It's just 1688 01:16:48.079 --> 01:16:51.000 not a stick building. It's literally cement walls. 1689 01:16:52.039 --> 01:16:52.880 Right, it's awesome. 1690 01:16:52.920 --> 01:16:56.159 Meant it's all concrete slabs, and Brian, you know, it 1691 01:16:56.199 --> 01:16:59.279 occurs to me that maybe the roof is only a 1692 01:16:59.359 --> 01:17:02.680 part of the We shouldn't discount the fact that the 1693 01:17:02.760 --> 01:17:06.359 lady upstairs might have leaking plumbing too, in addition to 1694 01:17:06.399 --> 01:17:08.039 the roof leaks. 1695 01:17:08.319 --> 01:17:11.000 I looked into that and did not see any leaks 1696 01:17:11.000 --> 01:17:11.560 in her plumbing. 1697 01:17:11.600 --> 01:17:12.720 Yeah, that's a great sign. 1698 01:17:13.039 --> 01:17:15.279 And I love the idea that you know, he went 1699 01:17:15.359 --> 01:17:17.560 up under the roof, started spraying with a hose and boom, 1700 01:17:17.600 --> 01:17:20.079 it's leaking. I mean, how do you possibly argue that 1701 01:17:20.159 --> 01:17:22.640 being the ho wa Hey, Matt, would you do me 1702 01:17:22.720 --> 01:17:24.439 a favor and get with Dmitri. 1703 01:17:24.920 --> 01:17:27.159 In fact, Tomitri, why don't you put this together? 1704 01:17:27.199 --> 01:17:29.880 And Brian, if you could go back out there and 1705 01:17:29.920 --> 01:17:32.560 meet Matt, you guys might be able to help each 1706 01:17:32.560 --> 01:17:35.119 other in the future for sure. But I would love 1707 01:17:35.159 --> 01:17:38.960 for you guys to all reconvene at her house and Matt, 1708 01:17:39.000 --> 01:17:41.239 you go over the policy. I think you should do 1709 01:17:41.319 --> 01:17:43.239 that first. Well, I'm not going to tell you what 1710 01:17:43.319 --> 01:17:45.239 to do, Matt, you know what to do, but get 1711 01:17:45.279 --> 01:17:47.560 involved and let's try to get this figured out for 1712 01:17:47.640 --> 01:17:48.119 this woman. 1713 01:17:48.239 --> 01:17:50.680 I'm going to be at that meeting too, and so 1714 01:17:50.720 --> 01:17:52.399 I'm going to start an email Chaine here in the 1715 01:17:52.439 --> 01:17:53.880 next few minutes that's going to get. 1716 01:17:53.720 --> 01:17:54.359 All three of us. 1717 01:17:54.720 --> 01:17:56.600 And I think as a result of and I think 1718 01:17:56.600 --> 01:17:58.760 that Khalia should hold off in her meeting with Brad 1719 01:17:58.760 --> 01:18:02.239 O'Brien the real estate until we get the results of 1720 01:18:02.279 --> 01:18:05.159 this meeting with Matt and Brian at her condo. 1721 01:18:05.319 --> 01:18:07.319 Do you think, Yeah, I mean it does as long 1722 01:18:07.359 --> 01:18:10.359 as this can happen somewhat quick. But someone say, here's 1723 01:18:10.399 --> 01:18:13.039 what I'm afraid of. Someone's gonna have to twist some 1724 01:18:13.239 --> 01:18:14.880 arms to basically get. 1725 01:18:14.680 --> 01:18:16.880 The hoa to do the roof. I mean, really, that's 1726 01:18:16.880 --> 01:18:20.199 what it comes down to, because my understanding is at 1727 01:18:20.199 --> 01:18:23.880 this point, her insurance is going to pay for the rebuilding. Right, 1728 01:18:24.119 --> 01:18:27.159 they haven't squawked about that, nor have they given her 1729 01:18:27.159 --> 01:18:28.760 any money for that or have they? 1730 01:18:29.279 --> 01:18:30.960 No, they haven't given her any money for that. 1731 01:18:31.560 --> 01:18:33.319 So they haven't paid her a nickel yet. 1732 01:18:33.560 --> 01:18:36.840 Well, they did incur significant expense in getting everything. 1733 01:18:36.479 --> 01:18:39.239 Torn out, Yeah, but they paid the contractor directly. She 1734 01:18:39.319 --> 01:18:40.560 didn't take the money. 1735 01:18:40.279 --> 01:18:42.479 That's right, that's correct. She hasn't pocketed it. 1736 01:18:42.359 --> 01:18:44.960 So Matt would you please look at everything. And then Brian, 1737 01:18:45.079 --> 01:18:48.680 we really appreciate you being a part of this. And 1738 01:18:49.239 --> 01:18:52.600 Dmitri send me his information to Brian for sure. 1739 01:18:52.840 --> 01:18:53.680 Yeah, I'll see see her. 1740 01:18:53.760 --> 01:18:55.159 Hey, Mark, real quick? 1741 01:18:55.239 --> 01:18:57.760 Is there a roof into is there? 1742 01:18:57.800 --> 01:18:58.319 What's her? 1743 01:18:59.159 --> 01:19:01.840 Is there a roofer that's been involved in this at all? 1744 01:19:02.119 --> 01:19:04.600 Not that I know of. In fact, that's a great idea. 1745 01:19:04.600 --> 01:19:06.479 Why don't you get a commercial one of your guys 1746 01:19:06.520 --> 01:19:06.880 out there? 1747 01:19:08.399 --> 01:19:08.920 I think. 1748 01:19:10.720 --> 01:19:11.800 Him access to the roof. 1749 01:19:12.000 --> 01:19:14.680 Ohoo, that's the bad size, hey, match you. 1750 01:19:14.640 --> 01:19:16.199 Hear that I did. 1751 01:19:16.439 --> 01:19:18.359 That's no point. It kind of sounds like they're broke. 1752 01:19:18.880 --> 01:19:21.199 That's what I keep I've gone back to that same 1753 01:19:21.239 --> 01:19:24.319 point ten times. And if there's no money there, there's 1754 01:19:24.399 --> 01:19:25.199 no money there. 1755 01:19:25.279 --> 01:19:27.359 Yeah, Mark, you know I did. Walker. 1756 01:19:27.479 --> 01:19:29.560 Actually I drove around the complex a little bit. It's 1757 01:19:29.600 --> 01:19:32.119 a large complex. There are probably a dozen buildings with 1758 01:19:32.159 --> 01:19:35.079 one hundred units or in Denver. Yeah, it's right over 1759 01:19:35.119 --> 01:19:38.279 there at Islef and Parker, and it's like, you know, 1760 01:19:38.399 --> 01:19:41.600 it's I don't the word dilapidated isn't the correct word, 1761 01:19:41.640 --> 01:19:43.920 but it's kind of like like the place has seen 1762 01:19:44.000 --> 01:19:44.520 better days. 1763 01:19:44.560 --> 01:19:45.640 You're not putting any money in. 1764 01:19:45.720 --> 01:19:49.520 Yeah, it looks like late sixties, early seventies, super cheap construction, 1765 01:19:50.119 --> 01:19:54.920 and these are very value priced, very affordable condominiums, and 1766 01:19:54.960 --> 01:19:57.760 it just seems oh yeah, it's like about to become seen. 1767 01:19:57.880 --> 01:20:01.600 Yeah, it's like living in a rainforest. I mean, it's insane. 1768 01:20:01.319 --> 01:20:03.319 Which leads me to together broke. 1769 01:20:04.039 --> 01:20:06.880 You wonder what asbestos Oh jeez, because of the year 1770 01:20:06.920 --> 01:20:08.159 built very well could be. 1771 01:20:09.199 --> 01:20:10.640 Yeah, that's a problem too. 1772 01:20:11.279 --> 01:20:16.079 That could be a big well. Actually spee though. Oh 1773 01:20:16.159 --> 01:20:19.079 the drywall is all gone, no no, no, yeah. 1774 01:20:18.880 --> 01:20:21.319 But if it's if it's if it's soaking the drywall 1775 01:20:21.439 --> 01:20:24.079 above it and coming back in, now you've got to 1776 01:20:24.119 --> 01:20:24.760 spill again. 1777 01:20:24.960 --> 01:20:27.039 Yeah. Is that an insurance claim in itself? 1778 01:20:27.880 --> 01:20:30.119 It is okay, good. 1779 01:20:30.159 --> 01:20:33.880 Hey, maybe the lad maybe the lady upstairs can use 1780 01:20:33.920 --> 01:20:35.680 your services too, mat to me, if. 1781 01:20:35.600 --> 01:20:36.600 She's got insurance. 1782 01:20:37.960 --> 01:20:38.039 Ye. 1783 01:20:39.119 --> 01:20:41.279 That's the other problem. Some of these people don't have 1784 01:20:41.319 --> 01:20:44.880 insurance on these units. I mean, really, you described these 1785 01:20:45.319 --> 01:20:48.840 units as yeah, I mean. 1786 01:20:48.840 --> 01:20:50.399 I don't mean that in an insulting way. 1787 01:20:50.439 --> 01:20:53.319 It's just a technical observation about a place that has 1788 01:20:53.359 --> 01:20:54.960 seen much better days. 1789 01:20:54.880 --> 01:20:57.800 Which means they have zero upkeep. They're not spending money 1790 01:20:57.800 --> 01:21:01.720 on anything, all right, guys, I gotta I gotta move on, Dmitri. 1791 01:21:01.920 --> 01:21:04.840 Stay on top of it, Matt with Paragon Services. By 1792 01:21:04.880 --> 01:21:07.640 the way, if your insurance company's trying to screw you over, 1793 01:21:08.359 --> 01:21:10.920 they owe you more money, that's where Mac gets involved. 1794 01:21:11.199 --> 01:21:15.000 He makes sure he reads through that policy every single 1795 01:21:15.039 --> 01:21:18.119 place to find out the most amount of money that 1796 01:21:18.239 --> 01:21:20.920 insurance company needs to pay you. And he's done it 1797 01:21:20.960 --> 01:21:24.119 twice for me, Matt, both times I've been denied by 1798 01:21:24.159 --> 01:21:26.560 my insurance company. One time you got me close to 1799 01:21:26.640 --> 01:21:30.119 eighty thousand, and then recently we're almost to the end 1800 01:21:30.119 --> 01:21:33.119 of it. In fact, while I still got him. Hey, Matt, 1801 01:21:33.119 --> 01:21:34.439 how much am I going to get out of the 1802 01:21:34.479 --> 01:21:35.720 second one? Do you have any idea? 1803 01:21:36.520 --> 01:21:38.960 I think we're going to be between forty and fifty nice, 1804 01:21:39.000 --> 01:21:40.600 that's exactly where we aim for. 1805 01:21:41.600 --> 01:21:45.159 Yeah, yep, yeah, very cool man. I appreciate it. Three 1806 01:21:45.199 --> 01:21:47.640 oh three seven one three eight two five five three 1807 01:21:47.720 --> 01:21:51.119 oh three Martino. I promise Larry, you're up Numero unocame 1808 01:21:51.159 --> 01:21:52.239 Heller high Water. 1809 01:21:57.960 --> 01:22:01.239 Go with a sure thing Denver's Best for excel roofing 1810 01:22:01.319 --> 01:22:01.880 dot com. 1811 01:22:01.920 --> 01:22:03.960 You don't pay a cent until you're content. 1812 01:22:07.319 --> 01:22:10.520 Time for an insurance check up free no obligation in comparison, 1813 01:22:10.640 --> 01:22:14.199 call Compass insurance paying too much your coverage at dozens 1814 01:22:14.239 --> 01:22:16.960 of insurance companies find out now three all three seven 1815 01:22:17.039 --> 01:22:19.880 seven to one help. You'll think you're his only customer 1816 01:22:19.920 --> 01:22:22.159 when you choose Frank durand the real estate man dot 1817 01:22:22.199 --> 01:22:25.479 com to list your home with Remax Alliance three all 1818 01:22:25.520 --> 01:22:27.600 three nine two zero sixteen twenty two. 1819 01:22:29.359 --> 01:22:30.159 All right, three all. 1820 01:22:30.119 --> 01:22:32.199 Three seven one three A two five y five. You've 1821 01:22:32.239 --> 01:22:34.319 been ripped off or taking advantage of I want to 1822 01:22:34.359 --> 01:22:36.000 hear from you. We get some lines open. 1823 01:22:36.239 --> 01:22:39.760 Any questions for our guest, Dan McKenzie too would be 1824 01:22:39.760 --> 01:22:41.600 a good time to do it. And as promised, I'm 1825 01:22:41.600 --> 01:22:43.960 going to go to Larry first of all, Larry, I 1826 01:22:44.000 --> 01:22:47.760 appreciate you holding so long. What question do you have 1827 01:22:47.880 --> 01:22:48.279 for Dan? 1828 01:22:49.199 --> 01:22:52.600 That's okay? Thank you Dan, and there and Mark for 1829 01:22:52.720 --> 01:22:59.319 being there. Uh my uncle, my uncle died. He left 1830 01:23:00.079 --> 01:23:08.279 his IRA as to his trust, his trust and there 1831 01:23:08.520 --> 01:23:13.039 is his IRA. And the lawyer said that was absolutely 1832 01:23:13.199 --> 01:23:16.720 not the thing to do because it was immediately taxable. 1833 01:23:17.880 --> 01:23:20.800 And so I didn't I missed part of your conversation 1834 01:23:20.880 --> 01:23:24.119 this morning head for a doctor appointment, but I didn't 1835 01:23:24.159 --> 01:23:29.520 know if you covered that aspect of what not put 1836 01:23:29.520 --> 01:23:30.239 in a trust. 1837 01:23:31.680 --> 01:23:34.159 Yeah, you do have to be careful with IRA's going 1838 01:23:34.199 --> 01:23:38.039 to trust because there are rules requiring you to pull 1839 01:23:38.079 --> 01:23:40.079 those funds out within a certain period of time when 1840 01:23:40.119 --> 01:23:41.399 you inherit somebody else's IRA. 1841 01:23:42.520 --> 01:23:44.199 Generally, you know, there are always. 1842 01:23:43.960 --> 01:23:46.199 Some exceptions, but generally you have about ten years to 1843 01:23:46.239 --> 01:23:48.199 pull that money out, and as you do it, you're 1844 01:23:48.199 --> 01:23:50.800 going to be declaring it as income unlike everything else. Right, 1845 01:23:50.880 --> 01:23:52.520 So if I get process of the sale of the 1846 01:23:52.520 --> 01:23:54.680 house or bank or whatever else, that's not income. 1847 01:23:54.760 --> 01:23:58.560 But wouldn't that be are well, I'm sorry, Larry. I'm sorry, Larry, 1848 01:23:58.600 --> 01:24:01.279 but just for other people listening and for myself. So 1849 01:24:01.520 --> 01:24:04.159 if it is a ten year window. In that ten years, 1850 01:24:04.199 --> 01:24:06.079 when you're pulling money out of say a four to 1851 01:24:06.119 --> 01:24:10.800 one K, it's basically being taxed, just like it would 1852 01:24:10.840 --> 01:24:14.479 be if it was the actual original beneficiary, right, the 1853 01:24:14.560 --> 01:24:17.760 person that died. In other words, there's no, it's not 1854 01:24:17.840 --> 01:24:20.760 a bigger tax burden. It's still going to be it's 1855 01:24:20.760 --> 01:24:22.680 still going to be deferred. 1856 01:24:22.720 --> 01:24:24.800 Now it's at the income tax rate of the person's 1857 01:24:24.840 --> 01:24:25.439 receiving it. 1858 01:24:25.560 --> 01:24:28.680 Oh okay, okay, so I got you. It could it 1859 01:24:28.680 --> 01:24:32.119 could be more or it could be less for that matter. Yeah, okay, 1860 01:24:32.119 --> 01:24:32.520 go ahead. 1861 01:24:33.479 --> 01:24:39.279 The IRS says that a trust is not a human entity, 1862 01:24:39.920 --> 01:24:44.479 and therefore if a trust inherits an IRA or a 1863 01:24:44.520 --> 01:24:49.199 four one K, it is immediately taxable at the current 1864 01:24:49.720 --> 01:24:54.840 tax rate of whatever applies under that situation. I know 1865 01:24:55.119 --> 01:24:58.680 my uncle's estate had to immediately pay about thirty five 1866 01:24:58.760 --> 01:24:59.920 thousand dollars in. 1867 01:25:01.800 --> 01:25:02.640 The on the. 1868 01:25:02.680 --> 01:25:06.880 IRA because it was left to the trust the ten 1869 01:25:06.960 --> 01:25:11.479 year payout and those tax benefits do not apply to trust. 1870 01:25:12.319 --> 01:25:16.760 Yeah, yeah, yeah, I mean an entity receiving an IRA, 1871 01:25:17.199 --> 01:25:20.720 it can be crunched down to five years, and then 1872 01:25:21.319 --> 01:25:23.760 there are ways to leave money to trust if you 1873 01:25:23.800 --> 01:25:26.359 put what's called conduit provisions in there, just saying the 1874 01:25:26.359 --> 01:25:29.279 trustees role here is to just take the money out 1875 01:25:29.319 --> 01:25:32.359 as they're required to do, and immediately shoot it out 1876 01:25:32.359 --> 01:25:33.279 to the beneficiary. 1877 01:25:33.399 --> 01:25:34.159 So there are. 1878 01:25:34.119 --> 01:25:38.399 Ways to have the money go to trust and still 1879 01:25:38.399 --> 01:25:40.840 get that ten year benefit, but it does have to. 1880 01:25:40.800 --> 01:25:42.319 Be drafted specifically that way. 1881 01:25:42.359 --> 01:25:45.000 But why would someone want to do that? In other words, 1882 01:25:45.279 --> 01:25:48.119 if why would someone want to do that instead of 1883 01:25:48.199 --> 01:25:51.840 just naming a beneficiary or multiple ones, is there ever 1884 01:25:52.239 --> 01:25:54.119 a time where someone would want to do it? 1885 01:25:54.159 --> 01:25:55.640 And if so, why, Yeah? 1886 01:25:55.680 --> 01:25:59.039 I mean, if I'm Leavis, if my beneficiaries five, I 1887 01:25:59.119 --> 01:26:01.600 really am not going to leave them directly as the beneficiary. 1888 01:26:01.640 --> 01:26:03.840 And there still could be some benefit to say, Look, 1889 01:26:04.159 --> 01:26:07.640 that tenure is a maximum. You know, anybody who receives 1890 01:26:07.640 --> 01:26:09.720 an IRA can pull it all out immediately, and I 1891 01:26:09.800 --> 01:26:13.159 might want my trustee to kind of take full advantage 1892 01:26:13.159 --> 01:26:14.159 of those ten years. 1893 01:26:14.359 --> 01:26:14.560 Right. 1894 01:26:15.279 --> 01:26:18.119 What happens if they weren't it retirement age and they 1895 01:26:18.159 --> 01:26:21.279 would have paid some kind of penalty for accessing the 1896 01:26:21.399 --> 01:26:24.600 four oh one K or the IRA money. Would the 1897 01:26:24.640 --> 01:26:28.680 beneficiary or the trust the estate would. 1898 01:26:28.439 --> 01:26:30.600 They end up actually paying those fees or not? 1899 01:26:30.680 --> 01:26:30.720 No? 1900 01:26:30.880 --> 01:26:32.960 No, they have to take it and the RS wants 1901 01:26:32.960 --> 01:26:35.439 them to, so there's no penalty. You have to take it, Okay, 1902 01:26:35.600 --> 01:26:38.439 But yeah, if you take your own IRA early, of 1903 01:26:38.479 --> 01:26:39.319 course there's gonna be pummel. 1904 01:26:39.520 --> 01:26:41.960 So Larry, it does it sounds like you you might 1905 01:26:42.000 --> 01:26:44.039 have missed part of the conversation, but you're kind of 1906 01:26:44.079 --> 01:26:46.199 on a different wave if I'm hearing you right. 1907 01:26:47.479 --> 01:26:52.760 Well, it's just that the lawyer and the distributed his IRA, 1908 01:26:52.840 --> 01:26:57.279 and it was a pretty good sized lawyer for legal 1909 01:26:57.319 --> 01:27:01.640 firm and They said that it was a big mistake 1910 01:27:02.359 --> 01:27:06.520 for the trust to be to inherit an IRA because 1911 01:27:07.279 --> 01:27:12.560 taxes were immediately due because the trust is not a 1912 01:27:12.640 --> 01:27:17.199 human entity. A human would have the ten year benefit 1913 01:27:17.479 --> 01:27:18.359 for you know. 1914 01:27:18.680 --> 01:27:19.439 Yeah, and I. 1915 01:27:19.439 --> 01:27:21.159 Don't want to beat a dead horse, but he went 1916 01:27:21.199 --> 01:27:23.279 through that. There's certain things I believe you called a 1917 01:27:23.359 --> 01:27:26.199 conduit that, yeah, certain things that could be in the trust. 1918 01:27:26.239 --> 01:27:29.199 If the IRS can tell who the human beneficiary is 1919 01:27:29.239 --> 01:27:30.560 that trust, it is possible. 1920 01:27:30.640 --> 01:27:32.600 So it sounds like in his case, So or your 1921 01:27:32.600 --> 01:27:35.479 brother's case, Larry, it simply wasn't written correctly. 1922 01:27:37.159 --> 01:27:43.439 Well, I'm sure that's you know, his trust was left 1923 01:27:43.520 --> 01:27:47.159 to twenty two nieces and nephews. He didn't have any 1924 01:27:47.199 --> 01:27:49.399 other relatives. 1925 01:27:48.680 --> 01:27:49.199 And so. 1926 01:27:51.359 --> 01:27:53.800 You know, it was well defined as to where the 1927 01:27:53.880 --> 01:27:58.520 money from the trust was going to go. But it's 1928 01:27:58.600 --> 01:28:01.920 just that the trust had to immediately pay the taxes 1929 01:28:02.000 --> 01:28:07.199 on the IRA because the trust was not a benefit 1930 01:28:07.319 --> 01:28:09.039 of well a. 1931 01:28:09.000 --> 01:28:10.439 Couple things here, A couple things. 1932 01:28:10.439 --> 01:28:13.920 When you're talking twenty two people or you know a 1933 01:28:14.039 --> 01:28:18.119 large amount of people, Dan, and we are talking about 1934 01:28:18.119 --> 01:28:21.279 a trust in some kind of retirement, I would assume 1935 01:28:21.319 --> 01:28:24.319 they would all want the money, right then, and there. 1936 01:28:24.560 --> 01:28:26.239 I mean, they're not gonna want it, even if they 1937 01:28:26.279 --> 01:28:29.760 could stretch it out five or ten years. I mean, 1938 01:28:30.039 --> 01:28:33.239 how do you divvy something up you're not gonna list? 1939 01:28:33.279 --> 01:28:37.239 Can you list twenty two beneficiaries on a four oh 1940 01:28:37.279 --> 01:28:39.279 one K with Schwab or something? 1941 01:28:39.319 --> 01:28:41.000 I mean, that's up to Schwab. 1942 01:28:42.079 --> 01:28:42.479 I don't know. 1943 01:28:42.840 --> 01:28:46.199 I don't know, but yeah, yeah, these are challenges when 1944 01:28:46.199 --> 01:28:47.479 you've got that many beneficiaries. 1945 01:28:47.920 --> 01:28:49.880 How would you have written it in the case he's 1946 01:28:49.920 --> 01:28:50.600 talking about. 1947 01:28:52.479 --> 01:28:54.560 I guess it depends on the age of those nieces 1948 01:28:54.560 --> 01:28:56.640 and nephews. Is there are there miners in there? Are 1949 01:28:56.640 --> 01:28:57.359 they all adults? 1950 01:28:57.439 --> 01:28:58.920 Yeah, Larry, give us a little more. 1951 01:28:59.760 --> 01:29:04.359 Okay. Probably the youngest is probably sixty. 1952 01:29:04.640 --> 01:29:08.279 Two, god dang, okay, and. 1953 01:29:08.319 --> 01:29:11.279 The oldest the oldest was ninety two. 1954 01:29:11.680 --> 01:29:12.000 Okay. 1955 01:29:12.239 --> 01:29:14.960 Wow, well then yeah, I probably would have just said 1956 01:29:14.960 --> 01:29:17.560 to Schwab, here's he to'll leave this too, and gone 1957 01:29:17.560 --> 01:29:18.199 directly to that. 1958 01:29:18.439 --> 01:29:22.520 He always he always kept his beneficiary list up to date. Boy, 1959 01:29:22.520 --> 01:29:25.399 if anybody died, he changed the whole thing right then 1960 01:29:25.399 --> 01:29:30.680 and there. Yeah, so the beneficiaries of his crust were 1961 01:29:31.039 --> 01:29:33.119 very fixed and up to date always. 1962 01:29:33.399 --> 01:29:33.760 Yeah. 1963 01:29:33.800 --> 01:29:36.960 Well, apparently it just wasn't written right, or at least 1964 01:29:36.960 --> 01:29:40.239 not to what you know, you guys wanted. But I 1965 01:29:40.239 --> 01:29:43.640 guess I also don't understand, Larry, what the difference would be, 1966 01:29:43.640 --> 01:29:47.359 because if everybody wanted access to their amount, they would 1967 01:29:47.479 --> 01:29:48.920 ultimately have to pay. 1968 01:29:48.720 --> 01:29:50.119 The taxes on it. 1969 01:29:50.119 --> 01:29:53.920 It'd be the same taxes, and then it wouldn't just 1970 01:29:54.000 --> 01:29:57.159 sit there. I mean, really, what else would have happened 1971 01:29:57.199 --> 01:30:00.960 besides liquidating it and everybody pays their fair share of 1972 01:30:01.039 --> 01:30:02.479 taxes on it. 1973 01:30:03.800 --> 01:30:05.600 I don't know. It just that the letter that the 1974 01:30:05.680 --> 01:30:09.279 lawyer said out said that there was a big mistake, 1975 01:30:09.399 --> 01:30:15.079 his CPA made the mistake of having him put the Yeah, 1976 01:30:15.079 --> 01:30:18.319 I got iray into the trust. Yeah, and that that 1977 01:30:18.520 --> 01:30:21.880 was a mistake because taxes were immediately due because the 1978 01:30:21.920 --> 01:30:23.520 trust is not a human entity. 1979 01:30:24.159 --> 01:30:24.359 Yeah. 1980 01:30:24.399 --> 01:30:27.199 The problem is that trust tax rates here that the 1981 01:30:26.840 --> 01:30:32.720 same percentages, but they're compressed. So a individual hits the 1982 01:30:32.760 --> 01:30:35.039 highest tax bracket at two hundred and fifty thousand bucks, 1983 01:30:35.159 --> 01:30:37.520 and a state doesn't have trust hits the highest tax 1984 01:30:37.520 --> 01:30:41.079 back at about thirteen thousand. So you're getting you're paying 1985 01:30:41.119 --> 01:30:44.000 the highest tax rate if you're paying through the trust. 1986 01:30:44.159 --> 01:30:46.600 Yeah, And the iray was about one and a half 1987 01:30:46.640 --> 01:30:49.239 million dollars, so it was quite a big difference. 1988 01:30:50.439 --> 01:30:50.720 Wow. 1989 01:30:50.760 --> 01:30:53.800 That kind of sucks that it happened that way, but 1990 01:30:53.840 --> 01:30:56.439 that's it. Hey, Larry, I appreciate the call man. 1991 01:30:57.880 --> 01:30:59.199 Okay, well, thank you very much. 1992 01:30:59.319 --> 01:31:00.840 You're welcome. I liked kaya. 1993 01:31:01.279 --> 01:31:04.640 You know, you're like me. I'm sitting here thinking nieces 1994 01:31:04.640 --> 01:31:08.760 and nephews. They're like like kids. Yeah, four four years 1995 01:31:08.800 --> 01:31:13.479 to two. When he when he led with the youngest 1996 01:31:13.600 --> 01:31:17.520 is sixty, I was like, holy moly, all right, we 1997 01:31:17.560 --> 01:31:20.359 got lines open three oh three seven one, three eight 1998 01:31:20.399 --> 01:31:23.359 two five five three oh three Martino, you've been ripped 1999 01:31:23.399 --> 01:31:26.159 off taking advantage of You have any questions, uh for 2000 01:31:26.319 --> 01:31:28.479 Dan McKenzie a lot to come, hold tight. 2001 01:31:33.159 --> 01:31:36.439 Go with a sure thing Denver's best roofer Excel Roofing 2002 01:31:36.560 --> 01:31:39.199 dot com. You don't pay a cent until you're content. 2003 01:31:42.560 --> 01:31:45.760 Time for an insurance check up free, no obligation. In comparison, 2004 01:31:45.880 --> 01:31:49.439 call Compass Insurance paying too much your coverage at dozens 2005 01:31:49.439 --> 01:31:52.199 of insurance companies find out now three oh three, seven 2006 01:31:52.279 --> 01:31:53.119 seven to one help. 2007 01:31:53.279 --> 01:31:55.079 You'll think you're his only customer. 2008 01:31:55.119 --> 01:31:57.399 When you choose Frank durand the real estate Man dot 2009 01:31:57.399 --> 01:32:00.760 com to list your home with Remax Alliance three oh 2010 01:32:00.760 --> 01:32:05.800 three nine two zero sixteen twenty two. 2011 01:32:06.600 --> 01:32:08.920 All right, three oh three seven one three A two 2012 01:32:09.039 --> 01:32:11.800 five five. If you don't listen to the behind the 2013 01:32:11.840 --> 01:32:15.359 scenes stuff, you're crazy. So uh, I mean, honestly, some 2014 01:32:15.479 --> 01:32:18.600 days are a little different than others, but it's nuts. Hey, Dan, 2015 01:32:18.680 --> 01:32:21.079 I want to ask you some Dan McKenzie McKenzie law. 2016 01:32:21.600 --> 01:32:24.960 So the average person going to get I don't even 2017 01:32:25.000 --> 01:32:27.479 know what average is anymore, because some people have kids, 2018 01:32:27.479 --> 01:32:29.960 some people don't. I mean, there's so many different things 2019 01:32:30.000 --> 01:32:33.239 now it's I guess there is no average. But let 2020 01:32:33.239 --> 01:32:36.000 me ask you this. Would you say most people need 2021 01:32:36.039 --> 01:32:39.520 to trust? If they own a house, they have a 2022 01:32:39.560 --> 01:32:42.800 few cars, they have kids, they have bank accounts, they 2023 01:32:42.840 --> 01:32:45.960 have jobs. I mean, I just described the majority of 2024 01:32:46.000 --> 01:32:49.880 our population. Do most people need to trust? I'm pretty 2025 01:32:49.880 --> 01:32:53.399 sure I remember you saying if you have children that 2026 01:32:53.479 --> 01:32:56.680 are under the age of eighteen, you most likely should 2027 01:32:56.680 --> 01:32:57.279 have a trust. 2028 01:32:57.560 --> 01:32:59.319 Well, there's gotta be a trust to receive the money 2029 01:32:59.319 --> 01:33:01.760 for them, right, So it doesn't mean you need to 2030 01:33:01.760 --> 01:33:02.880 create a trust right now. 2031 01:33:02.920 --> 01:33:04.840 But they again, they cannot receive. 2032 01:33:04.600 --> 01:33:08.359 Money if they are receiving checks that they receive a 2033 01:33:08.359 --> 01:33:09.800 million dollar if your five year old is going to 2034 01:33:09.840 --> 01:33:11.640 get a million dollar check from life insurance company, Like, 2035 01:33:11.680 --> 01:33:12.560 where's it going to be put? 2036 01:33:13.000 --> 01:33:14.520 Yeah, who's going to get it? Who's going to be 2037 01:33:14.560 --> 01:33:15.199 in charge of it? 2038 01:33:15.319 --> 01:33:15.600 Yeah? 2039 01:33:15.640 --> 01:33:17.680 So either a court needs to a point an adult 2040 01:33:17.680 --> 01:33:19.319 to be put in charge of that money, or you 2041 01:33:19.399 --> 01:33:22.199 create that by creating the trust that will receive those funds. 2042 01:33:22.279 --> 01:33:26.000 Have you seen people that an eighteen year old has 2043 01:33:26.039 --> 01:33:29.760 gotten a large amount of money because the parents passed away. Yeah, 2044 01:33:29.800 --> 01:33:32.199 and it's just completely squandered that fast. 2045 01:33:32.439 --> 01:33:34.960 Most people squander it, right, I mean fifty year olds 2046 01:33:35.000 --> 01:33:37.039 have had jobs their entire lives and have never really 2047 01:33:37.079 --> 01:33:38.880 had like a ton of disposal income. 2048 01:33:38.920 --> 01:33:39.600 They spend it. 2049 01:33:40.039 --> 01:33:42.920 They just don't know, really, they don't have to manage money. 2050 01:33:42.920 --> 01:33:45.439 It feels like found money. So it's just like I've 2051 01:33:45.479 --> 01:33:48.560 got six figures here. What harm is it in buying 2052 01:33:48.560 --> 01:33:52.920 a car, remodeling my kitchen, Yeah, going and getting the 2053 01:33:52.920 --> 01:33:55.279 ocean view room at the hotel instead of the you 2054 01:33:55.319 --> 01:33:56.000 know ground. 2055 01:33:56.439 --> 01:33:56.680 You know. 2056 01:33:56.760 --> 01:33:58.479 So it's just stuff like that over a couple of 2057 01:33:58.560 --> 01:33:59.840 years and it's gone. 2058 01:34:00.600 --> 01:34:03.600 How many how many people do you get Galaamo, I'll 2059 01:34:03.600 --> 01:34:04.720 go to you in a minute. By the way, we 2060 01:34:04.720 --> 01:34:07.000 get some lines open three oh three, seven, one, three, eight, two, 2061 01:34:07.039 --> 01:34:09.720 five five, how many calls? Where basically you're more of 2062 01:34:09.760 --> 01:34:14.359 the well, not just the estate planner, but the asset protection. 2063 01:34:14.039 --> 01:34:14.920 Let's get into that. 2064 01:34:15.359 --> 01:34:18.119 I mean, do you do is a big chunk of 2065 01:34:18.159 --> 01:34:20.800 your job when it comes to clients that have a 2066 01:34:20.840 --> 01:34:21.640 high net worth? 2067 01:34:22.520 --> 01:34:24.920 Is it the asset protection part? Is that a. 2068 01:34:24.880 --> 01:34:27.039 Big part of it takes us back to the irvocal 2069 01:34:27.039 --> 01:34:29.119 trust question, which is why would you want to create 2070 01:34:29.159 --> 01:34:31.640 an irvocal trust if you could create a vocal trust 2071 01:34:31.640 --> 01:34:34.760 that you can just change. Well, the irvocal trust really 2072 01:34:34.840 --> 01:34:37.279 is getting the asset out of your name, and so 2073 01:34:37.399 --> 01:34:40.560 you really can tell people if they sue you, I 2074 01:34:40.600 --> 01:34:43.279 don't own that thing anymore, your vocal trust. 2075 01:34:43.600 --> 01:34:46.199 So that's a protection. 2076 01:34:46.560 --> 01:34:48.680 Yes, I mean they're hard to do. They should be. 2077 01:34:49.000 --> 01:34:50.439 You know, you might be the one that gets hit 2078 01:34:50.479 --> 01:34:51.920 by the car and you want to sue this person. 2079 01:34:51.960 --> 01:34:53.479 You don't want them telling you I don't have anything 2080 01:34:53.479 --> 01:34:55.720 because it's all in the trust that I created and 2081 01:34:55.760 --> 01:34:56.960 then I'm the beneficiary of. 2082 01:34:57.239 --> 01:34:59.000 So yeah, you could be on either side. 2083 01:34:59.119 --> 01:35:00.439 Yeah you could be on the other site. 2084 01:35:00.479 --> 01:35:03.680 But that's part of your job, though, is asset protection sure, yep. 2085 01:35:04.039 --> 01:35:05.159 Is that a big part of it. 2086 01:35:05.640 --> 01:35:06.960 I mean, it depends on who you're talking about. 2087 01:35:07.039 --> 01:35:09.399 So asset protection for the people creating the plan, that's 2088 01:35:09.439 --> 01:35:11.119 the hard part. If I'm trying to get my own 2089 01:35:11.199 --> 01:35:14.279 assets out of my name to avoid having to pay 2090 01:35:14.319 --> 01:35:17.079 them out in a lawsuit, that is challenging, and that 2091 01:35:17.159 --> 01:35:19.239 is an area of specialization. So we work with other 2092 01:35:19.279 --> 01:35:20.880 people on that. So we do do it, but we 2093 01:35:20.920 --> 01:35:22.079 do usually bring in other people. 2094 01:35:22.159 --> 01:35:24.319 Isn't there some offshore stuff people can do? 2095 01:35:25.000 --> 01:35:25.199 Yeah? 2096 01:35:25.359 --> 01:35:27.159 Is that a big thing? And I mean, now we're 2097 01:35:27.199 --> 01:35:29.680 talking people hundreds of millions of dollars. 2098 01:35:29.439 --> 01:35:32.159 Not necessarily because if you have hundreds of millions of dollars, 2099 01:35:32.239 --> 01:35:35.199 do you really care about getting sued? I mean, you know, 2100 01:35:35.279 --> 01:35:37.079 you could write a five million dollar check and not 2101 01:35:37.159 --> 01:35:37.680 even feel it. 2102 01:35:37.720 --> 01:35:38.479 That's a good point. 2103 01:35:38.600 --> 01:35:39.359 So but if you have. 2104 01:35:39.319 --> 01:35:42.359 Two million, that's a and you now you're a good target, 2105 01:35:42.439 --> 01:35:44.159 and yet you don't have enough money to just be like, 2106 01:35:44.159 --> 01:35:45.079 hey could this is Austin? 2107 01:35:45.119 --> 01:35:48.159 I don't care. So people who. 2108 01:35:47.960 --> 01:35:50.640 Have a lot less like enough to be interesting, but 2109 01:35:50.760 --> 01:35:52.319 not so much that they're just like, I don't care 2110 01:35:52.359 --> 01:35:53.079 about getting sued. 2111 01:35:53.199 --> 01:35:55.319 What do you think that limit is on an umbrella. 2112 01:35:55.439 --> 01:35:57.760 So let's take that two million dollar mark you were 2113 01:35:57.800 --> 01:36:00.920 just talking, right, So somebody that's got two to three million, 2114 01:36:01.199 --> 01:36:03.720 they have really no debt they have they literally have 2115 01:36:03.800 --> 01:36:07.119 that NASA's house, paid for money in the bank, stocks, 2116 01:36:07.159 --> 01:36:08.520 retirement accounts, whatever. 2117 01:36:08.760 --> 01:36:12.600 Yeah, should they have an umbrella at some point? 2118 01:36:12.680 --> 01:36:15.119 It doesn't make any sense to have an umbrella, Just 2119 01:36:15.159 --> 01:36:17.479 like we were talking that hundred million. You're not going 2120 01:36:17.560 --> 01:36:19.359 to go out and get an umbrella for a hundred 2121 01:36:19.399 --> 01:36:20.079 million dollars. 2122 01:36:20.119 --> 01:36:22.680 It would cost you. First of all, you probably couldn't 2123 01:36:22.680 --> 01:36:22.960 get it. 2124 01:36:23.319 --> 01:36:26.079 But what are your thoughts on people like that, because 2125 01:36:26.079 --> 01:36:27.079 there's a lot of people like. 2126 01:36:27.159 --> 01:36:30.279 That, like what to two million? 2127 01:36:30.359 --> 01:36:30.920 Three million? 2128 01:36:30.960 --> 01:36:33.439 Oh for sure, I mean I'm not talking thirty years 2129 01:36:33.479 --> 01:36:35.319 ago where a million bucks was massive. 2130 01:36:36.520 --> 01:36:40.159 Yeah, I'm always in favor of umbrella and maximizing your insurance. 2131 01:36:40.199 --> 01:36:42.920 But insurance, I mean that has gaps, right, there's caps 2132 01:36:42.960 --> 01:36:46.680 on it, there's limitations. The insurance companies draft those agreements, 2133 01:36:46.760 --> 01:36:50.000 they're trying to not pay out. And you know that 2134 01:36:50.079 --> 01:36:53.479 usually covers injury situations, not like breach of contract or 2135 01:36:53.640 --> 01:36:54.880 you know, other kind of situations you. 2136 01:36:54.880 --> 01:36:56.920 Get involved in that don't really involve injuries. 2137 01:36:57.000 --> 01:36:59.680 You know, people filing their own probate. We talked about 2138 01:36:59.680 --> 01:37:02.800 this a caller. It was either last week or this week. 2139 01:37:02.840 --> 01:37:05.840 The day's run together. But she owned a house and 2140 01:37:05.960 --> 01:37:10.279 had some money in a bank account and basically wanted 2141 01:37:10.439 --> 01:37:13.560 to do probate herself. I think her mom passed away, 2142 01:37:13.600 --> 01:37:15.920 had the house in the bank account. And one of 2143 01:37:15.960 --> 01:37:19.439 the big problems with that is if you don't do 2144 01:37:19.520 --> 01:37:21.840 it right, when you try to reach out to the 2145 01:37:21.920 --> 01:37:24.920 creditors and post stuff in the newspaper and whatever you're 2146 01:37:24.920 --> 01:37:28.319 supposed to do these days, you could become personally liable 2147 01:37:28.680 --> 01:37:31.720 if there was a creditor out there, and that would 2148 01:37:31.720 --> 01:37:32.159 be huge. 2149 01:37:32.199 --> 01:37:34.760 I mean, they can come after you directly, right. 2150 01:37:34.720 --> 01:37:36.520 Yeah, if you shot the money out and didn't do 2151 01:37:36.520 --> 01:37:39.239 the notifications correctly, they're going to say, go get that 2152 01:37:39.279 --> 01:37:39.880 money back. 2153 01:37:40.039 --> 01:37:42.000 How much time do they have to come after you. 2154 01:37:42.359 --> 01:37:44.600 It depends on if you notified them correctly. I mean, 2155 01:37:44.640 --> 01:37:48.399 if you didn't do it correctly, that's no limit. 2156 01:37:49.159 --> 01:37:49.920 That's insane. 2157 01:37:50.039 --> 01:37:50.279 Yeah. 2158 01:37:50.520 --> 01:37:51.800 So, I mean. 2159 01:37:51.680 --> 01:37:53.840 Typically you have a year from date of death to 2160 01:37:53.880 --> 01:37:56.239 make a claim, right, so if they have not made 2161 01:37:56.239 --> 01:37:58.840 a claim for it, it's been more than a year 2162 01:37:58.880 --> 01:38:02.439 since the person passed away, at that point you're probably safe. 2163 01:38:02.479 --> 01:38:04.720 How come credit card companies are telling me if this 2164 01:38:04.840 --> 01:38:09.319 is a fallacy. Most credit card companies don't come after 2165 01:38:09.359 --> 01:38:12.920 the estate. So let's say Joe Blow passes away. He's 2166 01:38:12.960 --> 01:38:15.279 got a you know, he's got a visa with Wells 2167 01:38:15.319 --> 01:38:18.840 Fargo that's got two grand on it. He's got something else, 2168 01:38:19.319 --> 01:38:21.640 a Cohles card, it's got five hundred bucks. 2169 01:38:21.840 --> 01:38:24.199 Is it just not worth the money or do they 2170 01:38:24.239 --> 01:38:24.920 come after it? 2171 01:38:25.000 --> 01:38:26.640 I mean, we see a lot of claims submitted by 2172 01:38:26.680 --> 01:38:29.000 credit card companies, But the question is, like, if you 2173 01:38:29.039 --> 01:38:31.159 get to a point where, look, I'm ready to distribute 2174 01:38:31.199 --> 01:38:33.119 money here, but I've got this claim sitting. 2175 01:38:32.880 --> 01:38:33.680 There they got to deal with. 2176 01:38:34.319 --> 01:38:36.119 If you call the credit card company, are they really 2177 01:38:36.159 --> 01:38:37.720 going to say, you know, you got to pay this 2178 01:38:37.760 --> 01:38:42.039 whole thing and you negotiate. Yeah, you might negotiate, you 2179 01:38:42.119 --> 01:38:44.079 might deny the claim and just see if they really 2180 01:38:44.119 --> 01:38:48.239 have the time and resources. You think these enormous credit 2181 01:38:48.279 --> 01:38:49.880 card companies do. But are they going to go to 2182 01:38:50.279 --> 01:38:53.800 a hearing in Douglas County, Colorado for five and get there? 2183 01:38:54.039 --> 01:38:55.600 You know, yeah, they're ten thousand. 2184 01:38:55.239 --> 01:38:56.399 Bucks, they'd be crazy too. 2185 01:38:56.640 --> 01:38:56.920 Yeah. 2186 01:38:57.039 --> 01:38:59.079 In fact, a lot of the small claims cases. 2187 01:38:59.119 --> 01:38:59.319 I do. 2188 01:38:59.399 --> 01:39:02.239 They're very valid, at least to me, they're very valid. 2189 01:39:02.279 --> 01:39:04.840 But the reason I end up winning before we even 2190 01:39:04.880 --> 01:39:07.039 walk into court is they have to first of all, 2191 01:39:07.079 --> 01:39:09.960 petition the court in order to bring an attorney in. 2192 01:39:10.439 --> 01:39:12.560 And then they have to bring an outside attorney in 2193 01:39:12.640 --> 01:39:16.720 generally because they're you know, located in California. And I mean, 2194 01:39:17.159 --> 01:39:19.000 I don't care if you're fresh out of law school, 2195 01:39:19.039 --> 01:39:21.319 You're not going to show up in small claims court 2196 01:39:21.359 --> 01:39:24.039 for less than a thousand or two thousand bucks. You'd 2197 01:39:24.079 --> 01:39:27.439 be crazy to So they end up going, Okay, he 2198 01:39:27.479 --> 01:39:29.479 wants eight hundred bucks, we'll get them eight hundred bucks. 2199 01:39:29.479 --> 01:39:31.239 I mean, that's just kind of how the world works 2200 01:39:31.319 --> 01:39:34.479 right now. And it's kind of nuts though, man. But 2201 01:39:34.600 --> 01:39:37.720 to think with probate to a lot of people come 2202 01:39:37.760 --> 01:39:41.159 to you, you know, after the fact, where maybe a 2203 01:39:41.199 --> 01:39:44.159 creditor is coming after him, is at a call you 2204 01:39:44.199 --> 01:39:45.680 take or you're out of it at that. 2205 01:39:45.680 --> 01:39:50.279 Point, yeah, i'd probably I'd probably refer them to a 2206 01:39:50.359 --> 01:39:54.239 litigator at that point. Yeah, it's hard. I mean that 2207 01:39:54.319 --> 01:39:57.039 the issue is they don't close the estate. You got 2208 01:39:57.039 --> 01:39:58.520 to close the estate. You gotta tell the court. I 2209 01:39:58.520 --> 01:39:59.960 really took care of the creditor claims. 2210 01:40:00.199 --> 01:40:00.920 Yeah, and if you. 2211 01:40:00.960 --> 01:40:03.720 Didn't like, you better not say that, Yeah, because you're 2212 01:40:03.800 --> 01:40:07.000 lying to the court. Yeah, all right, hold on, galaremo 2213 01:40:07.239 --> 01:40:07.880 am I saying that? 2214 01:40:07.960 --> 01:40:08.119 Right? 2215 01:40:08.159 --> 01:40:11.279 It looks like we're gonna come to you after this. 2216 01:40:16.399 --> 01:40:19.640 Go with a sure thing Denver's Best roofer Excel Roofing 2217 01:40:19.760 --> 01:40:22.399 dot com. You don't pay a cent until you're content. 2218 01:40:25.800 --> 01:40:28.960 Time for an insurance check up free, no obligation. In comparison, 2219 01:40:29.119 --> 01:40:32.680 call Compass Insurance paying too much your coverage at dozens 2220 01:40:32.680 --> 01:40:35.399 of insurance companies find out now three oh three seven 2221 01:40:35.399 --> 01:40:37.760 to seven to one help. You'll think you're his only 2222 01:40:37.840 --> 01:40:40.319 customer when you choose Frank durand the real estate Man 2223 01:40:40.359 --> 01:40:43.760 dot com to list your home with Remax Alliance three 2224 01:40:43.840 --> 01:40:49.520 oh three nine two zero sixteen twenty two. 2225 01:40:50.119 --> 01:40:52.239 All right, three oh three seven one three eight two 2226 01:40:52.279 --> 01:40:54.279 five five were up against the hard break. But I 2227 01:40:54.319 --> 01:40:56.920 want to unless you at least start out with this 2228 01:40:57.000 --> 01:41:02.560 one guy, A what is going on with you? 2229 01:41:04.960 --> 01:41:08.680 Hey, good afternoon, Thank you for taking my call. This 2230 01:41:08.720 --> 01:41:10.439 is more like kind of like a follow up, or 2231 01:41:10.520 --> 01:41:13.199 more like a guidance. A couple months ago, I had 2232 01:41:13.199 --> 01:41:15.319 an issue with my well, it's been longer than that. 2233 01:41:15.520 --> 01:41:18.479 But the last touch that we did was on October 2234 01:41:18.520 --> 01:41:20.760 twenty second, where well, what. 2235 01:41:20.720 --> 01:41:22.800 Was the initial problem? Helped me out with that? 2236 01:41:24.079 --> 01:41:28.479 Oh yeah, of course I hired him to replace my roof. Yeah, 2237 01:41:28.479 --> 01:41:31.800 who's him after you know, talking gosh as foundable? 2238 01:41:32.319 --> 01:41:38.039 Oh go, who's using somebody? Some other roofing companies contract? 2239 01:41:38.319 --> 01:41:41.319 Yeah, okay, I remember this one. So basically, what was 2240 01:41:41.359 --> 01:41:43.199 the problem with your roof? A hell storm or what? 2241 01:41:44.680 --> 01:41:45.600 And they'll starm me up. 2242 01:41:45.640 --> 01:41:47.880 And then basically it gave him a five thousand dollars 2243 01:41:47.960 --> 01:41:52.199 check for materials, never provided receipts nor like port you 2244 01:41:52.239 --> 01:41:53.560 never did anything. 2245 01:41:54.720 --> 01:41:55.520 Never did anything. 2246 01:41:55.600 --> 01:41:58.159 And then on October twenty second, to take the heat 2247 01:41:58.239 --> 01:42:01.119 off of him, you told you guys that he's going 2248 01:42:01.159 --> 01:42:03.960 to be basically gave me five hundreds tenmans every two weeks. 2249 01:42:04.079 --> 01:42:07.640 I waited for like a month and never I never 2250 01:42:07.680 --> 01:42:10.199 heard back from it, and never received another check or anything. 2251 01:42:10.760 --> 01:42:13.720 He still own me four thy five hundred I took. 2252 01:42:14.079 --> 01:42:16.680 I submitted the paperwork to take him to court, and 2253 01:42:16.720 --> 01:42:18.840 we have court on January thirty first, which. 2254 01:42:18.720 --> 01:42:19.479 Is in three weeks. 2255 01:42:19.520 --> 01:42:21.119 You know what he's going to do to get my 2256 01:42:22.560 --> 01:42:25.119 probably counter to counter suit me or. 2257 01:42:25.279 --> 01:42:27.039 I don't know what he countersue you for. I mean 2258 01:42:27.039 --> 01:42:29.239 the guy took five grand? How long ago was that? 2259 01:42:29.279 --> 01:42:29.520 Again? 2260 01:42:29.600 --> 01:42:31.560 How long ago? Did you give him the five grand. 2261 01:42:32.720 --> 01:42:33.760 On July second? 2262 01:42:34.000 --> 01:42:36.119 Yeah, I mean that's a long time ago. What are 2263 01:42:36.159 --> 01:42:38.920 we talking there? Eight months? Yeah, but he's taken him 2264 01:42:38.920 --> 01:42:40.319 to court. Now that's a good sign. 2265 01:42:40.479 --> 01:42:42.239 It's a great sign. But I mean, I don't see 2266 01:42:42.239 --> 01:42:44.920 a counterclaim. I see the guy not showing up to me. 2267 01:42:45.119 --> 01:42:46.680 Sounds like a bum. 2268 01:42:48.479 --> 01:42:51.279 Totally is I just wanted to know, like I guess 2269 01:42:51.319 --> 01:42:53.640 some guidance. I've never really done this before. So I 2270 01:42:53.680 --> 01:42:55.000 have the paperwork. 2271 01:42:55.479 --> 01:42:57.800 Okay, I love it, So hold on, I'll talk to you. 2272 01:42:57.840 --> 01:42:58.680 I can give you. 2273 01:42:58.720 --> 01:43:01.199 I'm not going to give you legal advice, but I 2274 01:43:01.239 --> 01:43:03.600 have brought so many people to small claims court at 2275 01:43:03.600 --> 01:43:06.800 this point it's crazy. I know where the paperwork is 2276 01:43:06.800 --> 01:43:09.399 that you can fill out in the instructions, and of 2277 01:43:09.439 --> 01:43:12.479 course Dan McKenzie attorney of law, and chime in with 2278 01:43:12.560 --> 01:43:15.960 some legal advice if he wants to everybody, hang tight, 2279 01:43:16.039 --> 01:43:17.800 we got one more hour to go. I got three 2280 01:43:17.840 --> 01:43:19.720 lines open, three zero three. 2281 01:43:19.760 --> 01:43:22.520 Martino. It's been a slow day. I want to hear from. 2282 01:43:22.279 --> 01:43:27.159 You go with a sure thing Denver's Best roofer Excel 2283 01:43:27.239 --> 01:43:28.279 Roofing dot com. 2284 01:43:28.319 --> 01:43:30.319 You don't pay a cent until you're content. 2285 01:43:33.680 --> 01:43:36.880 Time for an insurance check up free, no obligation comparison 2286 01:43:37.000 --> 01:43:40.560 call Compass Insurance. Pay too much your coverage at dozens 2287 01:43:40.600 --> 01:43:43.319 of insurance companies find out now three O three, seven 2288 01:43:43.319 --> 01:43:45.680 to seven to one help. You'll think you're his only 2289 01:43:45.760 --> 01:43:48.239 customer when you choose Frank durand the real estate Man 2290 01:43:48.279 --> 01:43:51.680 dot com to list your home with Remax Alliance three 2291 01:43:51.760 --> 01:44:01.720 oh three nine two zero sixteen twenty two news. 2292 01:44:03.640 --> 01:44:04.439 So you don't have. 2293 01:44:08.079 --> 01:44:11.680 As a cam shooter's gonna help. 2294 01:44:11.960 --> 01:44:14.760 Come man, this is. 2295 01:44:14.720 --> 01:44:16.039 The Troubleshooter Show. 2296 01:44:16.680 --> 01:44:19.960 No Tom Martinez, welcome my friends to the only show 2297 01:44:20.000 --> 01:44:22.439 if it's kind of We're to solve problems, answer your questions, 2298 01:44:22.760 --> 01:44:23.640 take complaints. 2299 01:44:23.680 --> 01:44:25.840 You have to listen to the show behind the show 2300 01:44:25.880 --> 01:44:28.039 on YouTube. Go to YouTube. You can do it all 2301 01:44:28.079 --> 01:44:29.640 the time. You can do it tonight whenever. 2302 01:44:29.359 --> 01:44:31.840 A lot of people watch the show afterwards. It doesn't 2303 01:44:31.880 --> 01:44:34.720 matter if it's on the ihearved app. There's a lot 2304 01:44:34.760 --> 01:44:37.479 of people that just listen to the show either the podcast, 2305 01:44:37.800 --> 01:44:40.640 the iHeart app live or six thirty g h A 2306 01:44:40.840 --> 01:44:45.760 w KRDOS got numerous FM and ams down and around 2307 01:44:45.760 --> 01:44:49.840 from Pueblo to Colorado Springs and Monument. Lots of ways 2308 01:44:49.840 --> 01:44:52.640 to listen to the show, but the only way to 2309 01:44:52.760 --> 01:44:56.520 listen and get the behind the scenes stuff during commercial 2310 01:44:56.560 --> 01:44:57.600 breaks is YouTube. 2311 01:44:57.800 --> 01:45:01.960 You can also see our beautiful faces. You could see 2312 01:45:02.279 --> 01:45:07.520 my guess, Dan McKenzie's face. He is basically the. 2313 01:45:07.479 --> 01:45:10.560 Attorney at eight three three co Plans, that's the phone number, 2314 01:45:10.760 --> 01:45:13.600 but he's an estate planner. But you could see his 2315 01:45:13.760 --> 01:45:18.359 face when Deputy Dmitri asked him if he was interested 2316 01:45:18.399 --> 01:45:23.239 in partnering into what is it, Dimitri? A cell phone thing? 2317 01:45:23.439 --> 01:45:27.279 Class actions? A class action cell phone? What was it? 2318 01:45:27.960 --> 01:45:31.680 Just you know, some just some normal regular consumer related 2319 01:45:31.720 --> 01:45:34.039 issues and a couple of ripoffs that you know that 2320 01:45:34.079 --> 01:45:35.119 I've been subjected to. 2321 01:45:35.439 --> 01:45:38.239 Yeah, I know you take this stuff very seriously. 2322 01:45:38.279 --> 01:45:40.680 Yeah, I do, and especially since there's so many others 2323 01:45:40.680 --> 01:45:44.640 who are similarly situated. So I just want somebody to 2324 01:45:45.000 --> 01:45:46.880 stand up for us regular consumers. 2325 01:45:47.119 --> 01:45:49.359 And I think he would be a marriage made in heaven. 2326 01:45:49.640 --> 01:45:53.880 But dear see, I think what happens is attorneys are funny. 2327 01:45:54.920 --> 01:45:57.720 Tom and I sued a company. This wasn't that long ago. 2328 01:45:57.720 --> 01:46:02.000 It was during COVID and we we had to Oh 2329 01:46:02.039 --> 01:46:05.039 my god, I had no idea. Once you start getting 2330 01:46:05.119 --> 01:46:10.039 billed hourly, you really start realizing how hard this was 2331 01:46:10.079 --> 01:46:14.760 an intellectual property case. And we were probably we were 2332 01:46:14.840 --> 01:46:20.720 one hundred and fifty grand in probably within six or 2333 01:46:20.800 --> 01:46:24.880 seven months. Six or seven months and get ready for this. 2334 01:46:24.920 --> 01:46:28.560 We didn't even go through discovery yet. Can you believe that? Dan, 2335 01:46:28.640 --> 01:46:33.199 Dan's like, that's incredible. Yeah, it's incredible. So, I mean 2336 01:46:33.640 --> 01:46:36.760 the dollar amounts, and that's not what I was talking 2337 01:46:36.840 --> 01:46:37.880 about was a dollar amount. 2338 01:46:37.880 --> 01:46:40.039 What I'm talking about is the labor. 2339 01:46:40.600 --> 01:46:45.560 Just the depositions we probably deposed I want to say, 2340 01:46:45.640 --> 01:46:49.960 twenty people and each one, Oh my god. I had 2341 01:46:49.960 --> 01:46:53.600 no idea because both attorneys go. I mean the depositions 2342 01:46:53.640 --> 01:46:56.800 were crazy. I mean maybe three to five hours, depending 2343 01:46:56.800 --> 01:46:59.159 on who it was. I mean, just getting through that 2344 01:46:59.479 --> 01:47:03.439 was month. It was absolutely nuts. But I'm not going 2345 01:47:03.520 --> 01:47:06.720 to get into that case. So when we talk about 2346 01:47:06.840 --> 01:47:11.520 an attorney getting helping us out, I mean I think 2347 01:47:11.560 --> 01:47:14.359 we forget the hours involved in it. Dan, And I'm 2348 01:47:14.359 --> 01:47:18.760 not talking about you specifically, but the beginning of your career. 2349 01:47:18.800 --> 01:47:20.159 Tell everybody what you did. 2350 01:47:20.239 --> 01:47:23.159 I mean, really, coming out with your law degree, you 2351 01:47:23.439 --> 01:47:25.359 got into what, Yeah, I was. 2352 01:47:25.319 --> 01:47:29.920 A consumer fraud class action attorney. That's primarily so. I mean, 2353 01:47:29.960 --> 01:47:33.640 class action attorneys kind of have a not great reputation 2354 01:47:33.720 --> 01:47:35.640 because it's like that's where you get those coupons in 2355 01:47:35.640 --> 01:47:37.520 the mail saying you get ten dollars off your next 2356 01:47:37.520 --> 01:47:40.239 oil change because there was this class action settlement and 2357 01:47:40.279 --> 01:47:43.359 all that. But really, you know, you got to ask yourself, 2358 01:47:44.399 --> 01:47:48.520 are we okay with huge companies basically taking fifty sixty 2359 01:47:48.560 --> 01:47:50.680 bucks off of every client or every customer. 2360 01:47:51.159 --> 01:47:51.560 No? 2361 01:47:51.760 --> 01:47:54.800 And really, what I think is the reason for class 2362 01:47:54.840 --> 01:48:00.560 action isn't necessarily to get everybody rich, not just to 2363 01:48:00.560 --> 01:48:01.720 punish the cost. 2364 01:48:01.520 --> 01:48:04.279 To stop it, like because otherwise, what is the incentive 2365 01:48:04.279 --> 01:48:07.079 for companies to not do that? Because there isn't one, right, Yeah, 2366 01:48:07.079 --> 01:48:09.600 because you can't. Individuals aren't going to sue them over 2367 01:48:09.640 --> 01:48:10.279 sixty bucks. 2368 01:48:10.319 --> 01:48:14.079 But on that side of the ballgame, I mean you're 2369 01:48:14.119 --> 01:48:17.439 out there going after these companies, I mean, how do 2370 01:48:17.520 --> 01:48:21.399 you you're representing sometimes what thousands? Tens of thousands? 2371 01:48:21.439 --> 01:48:22.119 What I mean? 2372 01:48:22.199 --> 01:48:25.159 Usually, Yeah, the class most classes are quite large. If 2373 01:48:25.159 --> 01:48:27.359 it's a national company, they're going to have you know, 2374 01:48:27.439 --> 01:48:28.399 thousands of people in them. 2375 01:48:28.439 --> 01:48:30.760 In the bottom line is what your job was. I 2376 01:48:30.800 --> 01:48:33.359 mean as one of the attorneys. I mean basically you're 2377 01:48:33.399 --> 01:48:35.520 just putting the whole thing together. I mean all you're 2378 01:48:35.520 --> 01:48:37.760 doing is working at a desk with paperwork for the 2379 01:48:37.760 --> 01:48:38.239 most part. 2380 01:48:39.279 --> 01:48:41.520 Yeah, lots and lots of paperwork. You got to go 2381 01:48:41.520 --> 01:48:44.279 through probably customer service records. So like if we had 2382 01:48:44.319 --> 01:48:47.239 a case like, okay, give us all access to every 2383 01:48:47.279 --> 01:48:50.640 customer service note you've ever made for the last five years, 2384 01:48:50.640 --> 01:48:53.239 well as you can imagine that, it's thousands and thousands. 2385 01:48:52.840 --> 01:48:56.239 Of thousands and thousands, it had to be boring quite frankly. 2386 01:48:56.439 --> 01:48:59.640 Right, Yeah, that's why you got out of it. 2387 01:49:00.199 --> 01:49:03.000 So, but how much time and money would go into it? 2388 01:49:03.079 --> 01:49:05.199 So let's say, I don't know, take one of the 2389 01:49:05.399 --> 01:49:08.119 medium size once or one of the larger how much 2390 01:49:08.199 --> 01:49:11.680 did the firm basically invest in it? And I'm talking 2391 01:49:11.680 --> 01:49:14.760 about advertising to the class, I'm talking everything. 2392 01:49:14.840 --> 01:49:17.239 Oh yeah, it would be nothing to put five million 2393 01:49:17.319 --> 01:49:17.520 in it. 2394 01:49:17.760 --> 01:49:21.479 Yeah, it could be millions, yep, for sure, easily and 2395 01:49:21.640 --> 01:49:24.680 before you even know, right, So, as it's telling Dimetrie 2396 01:49:24.760 --> 01:49:26.840 like you've got to get that class certified, and that's 2397 01:49:27.119 --> 01:49:29.840 not easy. You got to show he is a turds 2398 01:49:29.840 --> 01:49:34.560 similarly similarly situated, and defense attorneys just live off of 2399 01:49:34.600 --> 01:49:37.439 showing how all these people did not suffer the same injury. 2400 01:49:37.520 --> 01:49:39.359 Right, It's very hard to do, actually, and. 2401 01:49:39.319 --> 01:49:41.520 The reason they want to do that is that everybody 2402 01:49:41.560 --> 01:49:43.920 needs a separate attorney in a separate court case. 2403 01:49:44.000 --> 01:49:45.680 Yeah, we can't have a class here. All these people 2404 01:49:45.720 --> 01:49:47.319 got to be individually investigated. 2405 01:49:47.680 --> 01:49:50.560 Oh my goodness, that sounds like just so much work, honestly, 2406 01:49:50.720 --> 01:49:54.359 But you're right, there's nothing. And I'll say this, if any, 2407 01:49:54.000 --> 01:49:56.319 if if any attorney that we deal with, and we 2408 01:49:56.359 --> 01:49:59.079 have great attorneys and refer list, but if any really 2409 01:49:59.720 --> 01:50:03.199 kind of aligned with the show. Really, your background is 2410 01:50:03.279 --> 01:50:06.439 quite incredible because when you came out of law school, seriously, 2411 01:50:06.800 --> 01:50:10.000 you wanted to go after these injustices. You wanted to 2412 01:50:10.000 --> 01:50:12.399 go after the bad guys. But I mean, you know, 2413 01:50:12.600 --> 01:50:15.479 you start after what you do that for ten years? Yep, 2414 01:50:15.920 --> 01:50:17.640 and you just said that's it, I'm done. 2415 01:50:18.399 --> 01:50:24.000 Yeah, it's you know, it's being alligator is a it's different. 2416 01:50:24.079 --> 01:50:25.359 It's a pretty stressful life. 2417 01:50:25.399 --> 01:50:27.439 So yeah, it's some people are really up for that 2418 01:50:27.560 --> 01:50:29.920 kind of adrenaline and that kind of fighting every day 2419 01:50:30.520 --> 01:50:31.920 wasn't really my Did you. 2420 01:50:31.880 --> 01:50:34.199 Take a lot from that going into a state planning 2421 01:50:34.199 --> 01:50:36.000 because you're one of the best out there. 2422 01:50:35.880 --> 01:50:36.359 You got it? 2423 01:50:36.399 --> 01:50:38.560 I mean yes, I mean so we had a case 2424 01:50:38.600 --> 01:50:40.439 that was not a class action, that was just a 2425 01:50:40.560 --> 01:50:43.119 fight between a couple of families that had a business together, 2426 01:50:43.199 --> 01:50:45.640 that was a couple of generations in and it was 2427 01:50:45.880 --> 01:50:48.439 not It was one of the lest pleasant cases ever 2428 01:50:48.439 --> 01:50:51.279 did because we had all the personal emotions involved on 2429 01:50:51.359 --> 01:50:52.399 top of the business stuff. 2430 01:50:52.479 --> 01:50:54.640 So is there a lot of times in estate planning? 2431 01:50:54.640 --> 01:50:56.560 And I promised Garama, I'm going to get back to 2432 01:50:56.560 --> 01:50:58.920 you John, and then Deputy Bo's got to comment out 2433 01:50:58.920 --> 01:51:02.199 of one line open three ord th Martino, we talk 2434 01:51:02.239 --> 01:51:05.560 about family businesses of state planning. I'm not going to 2435 01:51:05.600 --> 01:51:09.279 say who, but we know somebody that basically owns automotive 2436 01:51:09.319 --> 01:51:14.039 shops and they have multiple locations and it's all one family, 2437 01:51:14.439 --> 01:51:19.439 but different ones run and own each location. It's kind 2438 01:51:19.439 --> 01:51:21.319 of weird. I don't know how this stock breaks up 2439 01:51:21.399 --> 01:51:25.479 or anything, but do you deal a lot with circumstances 2440 01:51:25.640 --> 01:51:29.439 like that to where someone's either talking about key Man 2441 01:51:29.479 --> 01:51:32.760 insurance for the estate or they're talking about literally if 2442 01:51:32.760 --> 01:51:34.920 I want to pass it down to my son, but 2443 01:51:35.079 --> 01:51:37.479 my brother doesn't want to deal with my son for 2444 01:51:37.560 --> 01:51:41.600 whatever reason. You kind of design the operating agreement. I mean, 2445 01:51:41.720 --> 01:51:44.239 is is that like big time in your wheelhouse? 2446 01:51:44.399 --> 01:51:46.199 Yeah, you want to be thoughtful about that, for sure. 2447 01:51:46.439 --> 01:51:49.279 But closely held businesses are a real challenge. 2448 01:51:49.000 --> 01:51:51.520 Especially when you go into business with someone. I guess 2449 01:51:51.520 --> 01:51:54.319 really it doesn't matter family member or not. It's a 2450 01:51:54.399 --> 01:51:56.920 marriage yep. In fact, for lack of the better words, 2451 01:51:56.920 --> 01:51:59.760 that's all marriage is. I mean, you're entering into a business. 2452 01:52:00.399 --> 01:52:05.159 I'm being serious. So when people come to you, whether 2453 01:52:05.199 --> 01:52:07.840 they're coming to you for a simple will, I liked 2454 01:52:07.840 --> 01:52:08.560 how I saw. 2455 01:52:08.399 --> 01:52:10.279 That look from Susanna. It's a business. 2456 01:52:11.640 --> 01:52:16.279 So when people come to you and they sit down, 2457 01:52:16.399 --> 01:52:17.720 I mean, generally what's happening. 2458 01:52:17.760 --> 01:52:19.640 You're gonna go, okay, you know, why are you here. 2459 01:52:19.640 --> 01:52:21.439 They're going to say, hey, we just had a baby, 2460 01:52:21.760 --> 01:52:24.319 or we haven't updated our will forever. You kind of 2461 01:52:24.319 --> 01:52:27.159 go over their needs while we're there, and then I 2462 01:52:27.199 --> 01:52:29.880 assume at that point you kind of sit on it, 2463 01:52:29.920 --> 01:52:32.880 you think of different suggestions, then you approach them with 2464 01:52:33.000 --> 01:52:36.159 your ideas and have kind of a Q and a yeah. 2465 01:52:36.279 --> 01:52:38.600 I mean we like to just tell you here's your options. 2466 01:52:38.600 --> 01:52:40.880 I mean, you talked about avoiding probate and does everybody 2467 01:52:40.880 --> 01:52:41.880 need a trust earlier? 2468 01:52:41.960 --> 01:52:43.840 And you know, I really don't take that position. We 2469 01:52:43.880 --> 01:52:44.359 do a lot of. 2470 01:52:44.279 --> 01:52:46.239 Plans that have no trust planning in them at all. 2471 01:52:46.279 --> 01:52:48.239 It just comes down to your priorities. Do you care 2472 01:52:48.279 --> 01:52:52.319 about avoiding courts? Some people don't, you know, probate process 2473 01:52:52.479 --> 01:52:55.279 unlike litigation, where it's like this is going to be 2474 01:52:55.279 --> 01:52:58.039 a fight, there's no this is a fight, but it probates. 2475 01:52:58.039 --> 01:53:00.600 A lot of probates are not fights, right, it's not 2476 01:53:00.640 --> 01:53:03.640 necessarily critical that every single person avoided I. 2477 01:53:03.600 --> 01:53:05.560 Get to But but at that point when you give 2478 01:53:05.560 --> 01:53:08.840 them the different options, I mean, you're not going to 2479 01:53:08.920 --> 01:53:11.439 be billing someone hourly to write the will. You already 2480 01:53:11.520 --> 01:53:14.319 understand what they want. You're going to say, hey, that's 2481 01:53:14.359 --> 01:53:16.479 going to be this, and you're going to tell them 2482 01:53:16.479 --> 01:53:18.039 then if you want to go to the next step 2483 01:53:18.079 --> 01:53:19.239 and do this, it's going to be that. 2484 01:53:19.560 --> 01:53:20.479 So I mean, it's not I. 2485 01:53:20.439 --> 01:53:22.159 Don't want to say ala carte, but in a way 2486 01:53:22.239 --> 01:53:26.239 it is ala carte or different options, correct, and then 2487 01:53:26.279 --> 01:53:27.720 you give them a flat rate price. 2488 01:53:28.319 --> 01:53:31.680 Now, what wouldn't be a flat rate price. 2489 01:53:33.039 --> 01:53:35.880 So there is some stuff you stay on the funding side. 2490 01:53:35.880 --> 01:53:37.600 And by that I mean like, Okay, you've got the 2491 01:53:37.720 --> 01:53:39.800 estate plan and now, like we've talked about, like you 2492 01:53:39.800 --> 01:53:41.880 could have an estate plan with all this beautiful trust 2493 01:53:41.880 --> 01:53:44.319 planning in it, and then you've got your life insurance 2494 01:53:44.319 --> 01:53:47.560 policy directed at a person and maybe you didn't want that. 2495 01:53:47.880 --> 01:53:50.000 You wanted to go into the trust, right, and so 2496 01:53:50.039 --> 01:53:51.680 you just got to make sure that the stuff on 2497 01:53:51.800 --> 01:53:54.479 the way you've titled it, the way it doesn'ty have beneficiaries, 2498 01:53:54.560 --> 01:53:57.680 also is lines up with what you wrote up. 2499 01:53:57.800 --> 01:53:59.760 So getting I want to go back to the trust. 2500 01:54:00.000 --> 01:54:02.199 So Suzanna and I have had one forever, but we 2501 01:54:02.239 --> 01:54:04.319 have not moved everything into it. 2502 01:54:04.319 --> 01:54:06.920 It really is kind of a pain. Do you do 2503 01:54:07.079 --> 01:54:07.880 this for people? 2504 01:54:08.560 --> 01:54:10.840 Not only can you set up the trust the way 2505 01:54:10.880 --> 01:54:13.359 they want it set up, or tell them how it 2506 01:54:13.399 --> 01:54:15.319 should be set up however you want to look at it, 2507 01:54:15.720 --> 01:54:18.319 but do you actually go the other step and offer, 2508 01:54:18.600 --> 01:54:21.760 once again ala carte, if you want me to move 2509 01:54:21.800 --> 01:54:24.479 the house into the trust, I'll do that. If you 2510 01:54:24.600 --> 01:54:29.439 want me to look at the operating documents for this 2511 01:54:29.520 --> 01:54:32.840 particular business and get all of that in there, So 2512 01:54:32.920 --> 01:54:34.239 that's moved into the trust. 2513 01:54:34.479 --> 01:54:36.000 Do you go to that level? 2514 01:54:36.439 --> 01:54:38.439 Yeah, I mean when we set up trust, we usually 2515 01:54:38.600 --> 01:54:40.720 put the house in there for them. Well, usually take 2516 01:54:40.720 --> 01:54:42.880 care of that. We have signed the personal property, we 2517 01:54:42.960 --> 01:54:45.640 sign business interests into the trust, so I'll do it all. 2518 01:54:46.199 --> 01:54:48.279 We don't do. I mean, it's not like your Schwab accounts, 2519 01:54:48.279 --> 01:54:49.479 like you got to do that, right. 2520 01:54:49.680 --> 01:54:52.039 Yeah, but once again, that's not going into the trust. 2521 01:54:53.680 --> 01:54:54.840 Why because they're iras. 2522 01:54:54.960 --> 01:54:58.800 It would be beneficiary, wouldn't it. Well, no, we've got okay, 2523 01:54:58.800 --> 01:55:01.439 I don't mind talking about it. We've at multiple accounts 2524 01:55:01.520 --> 01:55:04.079 I call trading accounts. Some of them my day trade, 2525 01:55:04.119 --> 01:55:06.800 other ones long term stuff. It doesn't matter. But there's 2526 01:55:06.840 --> 01:55:09.359 lots of assets and they just sit there and I 2527 01:55:09.439 --> 01:55:10.439 do what I do with them. 2528 01:55:10.800 --> 01:55:14.640 I trust because I mean, if they're not IRA's, they 2529 01:55:14.680 --> 01:55:16.359 should be in the trust because the trust covers the 2530 01:55:16.359 --> 01:55:17.479 incapacity events too. 2531 01:55:18.000 --> 01:55:20.640 Well, okay, I get that part, which we did do 2532 01:55:20.720 --> 01:55:23.800 in the trust. I mean, you know, we named our 2533 01:55:23.880 --> 01:55:28.399 daughter of you know, if if we can't think for ourselves, basically, 2534 01:55:28.680 --> 01:55:32.279 she's over our health and our financial But but if 2535 01:55:32.319 --> 01:55:35.800 we die, if they're the beneficiary, why would that go 2536 01:55:35.880 --> 01:55:38.119 into his trust? Just like a bank account. Why would 2537 01:55:38.119 --> 01:55:40.199 our personal bank account, I'm asking. 2538 01:55:39.920 --> 01:55:42.319 It depends on have you put any restrictions in place 2539 01:55:42.479 --> 01:55:44.760 on how she can access that money? 2540 01:55:45.119 --> 01:55:46.760 If we're no, we haven't, okay. 2541 01:55:46.840 --> 01:55:48.600 So if you have a car at this point in 2542 01:55:48.720 --> 01:55:51.159 both of our kids' lives, they split the money, they 2543 01:55:51.199 --> 01:55:52.479 can do whatever they want with it. 2544 01:55:52.920 --> 01:55:53.760 So probably not. 2545 01:55:53.840 --> 01:55:56.000 You probably would name her as a beneficiary again, like 2546 01:55:56.039 --> 01:55:59.800 she's using powers of attorney if you are incapacitated to 2547 01:56:00.439 --> 01:56:01.479 access to those funds. 2548 01:56:01.600 --> 01:56:05.800 Yeah, I mean those sometimes you hit barriers with those. 2549 01:56:05.720 --> 01:56:07.920 Okay, So it's not the best way to do. It's 2550 01:56:07.960 --> 01:56:11.600 basically what you're saying, yeah, okay, and you don't know everything. 2551 01:56:11.479 --> 01:56:12.960 Like why wouldn't you put it in there? 2552 01:56:13.239 --> 01:56:17.159 Well, okay, why And I asked that same question, why 2553 01:56:17.199 --> 01:56:20.039 wouldn't you put a checking account in there? I mean, 2554 01:56:20.079 --> 01:56:22.439 it's kind of crazy to go out and rename our 2555 01:56:22.520 --> 01:56:26.079 joint account, you know, Major Trust one, two three, whatever 2556 01:56:26.119 --> 01:56:29.279 it is, and now we're writing checks on Major Trust 2557 01:56:29.399 --> 01:56:32.520 instead of Mark or Suzanne Major when we could just 2558 01:56:32.600 --> 01:56:35.560 name a beneficiary for the cash. So I don't see 2559 01:56:35.560 --> 01:56:39.239 the difference between that and the trading accounts. 2560 01:56:39.319 --> 01:56:41.359 That's that was just my logic. 2561 01:56:41.479 --> 01:56:44.279 Because in a checking account, as you mentioned, a lot 2562 01:56:44.319 --> 01:56:45.840 of times, the banks will say, okay, well set up 2563 01:56:45.840 --> 01:56:47.479 this trust account for it's gona be a differ account. 2564 01:56:47.479 --> 01:56:49.479 You're gonna have a different account number, different debit car, 2565 01:56:49.600 --> 01:56:52.039 different checks. Yeah, a little bit of a pain to 2566 01:56:52.079 --> 01:56:54.000 get that set up, but then it's no different. But 2567 01:56:54.239 --> 01:56:55.800 most people don't want to go through that pain because 2568 01:56:55.840 --> 01:56:57.520 it's like I got ten thousand bucks in my checking 2569 01:56:57.560 --> 01:56:58.600 account in any even time. 2570 01:56:58.640 --> 01:56:58.920 It's not. 2571 01:56:59.119 --> 01:56:59.560 Yeah, it's not. 2572 01:56:59.640 --> 01:57:00.000 Yeah. 2573 01:57:00.159 --> 01:57:02.479 That's the other part on the checking I'm in your 2574 01:57:02.600 --> 01:57:04.920 slave accounts. I assume you're not pulling money in and 2575 01:57:05.000 --> 01:57:07.840 out every day, right, like a checking account. So I 2576 01:57:08.359 --> 01:57:10.239 just feel like that is not quite as much of 2577 01:57:10.239 --> 01:57:12.840 an issue must with most people's brokerage accounts. 2578 01:57:12.960 --> 01:57:17.039 Okay, no, I appreciate that. That sounds like solid advice, sir. 2579 01:57:17.359 --> 01:57:21.600 And Garamo, I promise, well, God, dang, I'm way over 2580 01:57:21.800 --> 01:57:23.920 all right, Garamo, I'm gonna come back to you. John's 2581 01:57:23.960 --> 01:57:27.239 got a question for Dan McKenzie. Real quick, John, just 2582 01:57:27.279 --> 01:57:29.119 say it real quick so he can think about it. 2583 01:57:29.279 --> 01:57:32.640 What is the question for John? All right, I'm sorry 2584 01:57:32.640 --> 01:57:32.960 for Dan. 2585 01:57:34.119 --> 01:57:38.520 If my son, so my house isn't paid for I'm 2586 01:57:39.079 --> 01:57:43.359 nearly seventy years old. So if I die, I want 2587 01:57:43.439 --> 01:57:46.239 to be sure that my daughter gets my equity in 2588 01:57:46.319 --> 01:57:48.159 my house. Is that just a basic wheel? 2589 01:57:48.760 --> 01:57:51.840 All right, hold on, we're gonna, We're gonna nothing's basic 2590 01:57:51.960 --> 01:57:52.439 these days. 2591 01:57:52.479 --> 01:58:00.399 Hold tight, go with a sure thing Denver's Best for 2592 01:58:00.439 --> 01:58:01.920 excel roofing dot com. 2593 01:58:01.960 --> 01:58:03.960 You don't pay a cent until you're content. 2594 01:58:07.359 --> 01:58:10.560 Time for an insurance check up free, no obligation comparison 2595 01:58:10.680 --> 01:58:14.239 call Compass Insurance paying too much your coverage at dozens 2596 01:58:14.239 --> 01:58:16.960 of insurance companies find out now three all three seven 2597 01:58:17.079 --> 01:58:20.079 seven one help. You'll think you're his only customer when 2598 01:58:20.119 --> 01:58:22.600 you choose Frank durand the real estate Man dot com 2599 01:58:22.640 --> 01:58:25.760 to list your home with Remax Alliance three oh three 2600 01:58:25.840 --> 01:58:29.319 nine two zero sixteen twenty two. 2601 01:58:29.600 --> 01:58:31.840 All right, three O three seven one three eight two 2602 01:58:31.960 --> 01:58:34.560 five five Because we do have a guest in Garamo. 2603 01:58:34.600 --> 01:58:36.359 I promise I'm dying to hear that update. But I 2604 01:58:36.399 --> 01:58:38.840 want to ask John real quick, John, what is your question? 2605 01:58:38.960 --> 01:58:39.960 For Dan mackenzie? 2606 01:58:41.199 --> 01:58:44.479 So if I'm if I don't live long enough to 2607 01:58:44.520 --> 01:58:48.119 pay my home off U and I want my daughter 2608 01:58:48.399 --> 01:58:51.039 to get my equity, which is uh, you know it's 2609 01:58:51.079 --> 01:58:55.800 around seven hundred thousand dollars. Wow, So how do I 2610 01:58:56.319 --> 01:58:59.520 sure that she is going to get that? What kind 2611 01:58:59.520 --> 01:59:01.439 of wheel would I need? 2612 01:59:01.880 --> 01:59:03.760 And I want to add something to that, Dan, and 2613 01:59:03.800 --> 01:59:07.760 I the reason I am interjection. The interjection is this 2614 01:59:07.840 --> 01:59:10.920 is very important. There's different ways to leave it, which 2615 01:59:10.920 --> 01:59:13.359 I want you to talk about. But he's not bringing 2616 01:59:13.439 --> 01:59:17.039 up tax consequences at all, and that's a very important 2617 01:59:17.079 --> 01:59:18.000 part of his question. 2618 01:59:18.720 --> 01:59:20.520 Yeah, because you do want to make sure that she 2619 01:59:20.560 --> 01:59:22.960 inherits today your death if possible, So we'll hold onto 2620 01:59:22.960 --> 01:59:24.520 that house because you probably have a lot of gain 2621 01:59:24.560 --> 01:59:26.319 built up in it and you want to avoid that 2622 01:59:26.359 --> 01:59:29.039 capital gains tax. But that was not your question. Your 2623 01:59:29.079 --> 01:59:31.479 question is how does she get the equity? If she's 2624 01:59:31.520 --> 01:59:33.640 the one who in Arisida. It sounds like she's probably 2625 01:59:33.640 --> 01:59:34.239 your only. 2626 01:59:34.079 --> 01:59:36.600 Child and that you are not married. 2627 01:59:36.800 --> 01:59:39.359 So you could leave it directly to her through a will. 2628 01:59:39.600 --> 01:59:43.479 You could record a beneficiary deed transfer the house to 2629 01:59:43.520 --> 01:59:45.399 her at your death. There's a couple of different ways 2630 01:59:45.439 --> 01:59:47.520 to do it. But whatever you do, she is going 2631 01:59:47.560 --> 01:59:51.960 to receive it. The mortgage company will require her to 2632 01:59:52.000 --> 01:59:54.319 refinance as soon as they find out that it's not 2633 01:59:54.439 --> 01:59:54.960 owned by you. 2634 01:59:55.000 --> 01:59:57.760 Anymore or sell it. Yeah, usually it gets so old. 2635 01:59:59.000 --> 02:00:02.079 But yeah, yeah she will get the equity. 2636 02:00:02.159 --> 02:00:04.399 But the one way I do not want you to 2637 02:00:04.439 --> 02:00:06.880 do and chime in, Dan if you don't agree with me, 2638 02:00:07.199 --> 02:00:09.439 would be a quit claim before you die. 2639 02:00:09.680 --> 02:00:09.880 Yeah. 2640 02:00:09.920 --> 02:00:11.920 People do that a lot, and that does get rid 2641 02:00:11.960 --> 02:00:13.800 of that capitol gains step up and then the person 2642 02:00:13.800 --> 02:00:16.880 who receives the house potentially has to pay you know, 2643 02:00:17.000 --> 02:00:19.239 six figures at capital gains tax they could have avoided. 2644 02:00:19.399 --> 02:00:22.399 Yeah, that's a big part, John, that is a massive part. 2645 02:00:22.720 --> 02:00:25.119 We have so many people after the fact and there's 2646 02:00:25.119 --> 02:00:28.520 not a damn thing you can do, Dan, that basically 2647 02:00:28.560 --> 02:00:30.560 they quit claimed it thinking well, I want to give 2648 02:00:30.560 --> 02:00:32.279 it to my daughter, I don't have any other kids 2649 02:00:32.399 --> 02:00:35.159 or whatever, and before they die they quit claim it, 2650 02:00:35.239 --> 02:00:36.960 and then all of a sudden when they died, like 2651 02:00:37.039 --> 02:00:38.920 you said, you know, of if they got a million 2652 02:00:38.920 --> 02:00:42.079 bucks in equity, they'redihed out one hundred and fifty grand. 2653 02:00:42.079 --> 02:00:42.760 They didn't have to. 2654 02:00:42.920 --> 02:00:44.960 Yeah, we've seen people around here that bought their houses 2655 02:00:44.960 --> 02:00:47.000 for one hundred thousand dollars or less and they're now 2656 02:00:47.079 --> 02:00:47.920 a million bucks. 2657 02:00:48.000 --> 02:00:51.000 Right, So, John, you got any other questions? 2658 02:00:52.159 --> 02:00:55.000 I know, No, that that pretty much ansed it. 2659 02:00:55.800 --> 02:00:57.560 Do you have a will set up? Do you have 2660 02:00:57.640 --> 02:00:58.399 anything like that? 2661 02:00:59.520 --> 02:01:01.399 No, I don't. I don't have anything. 2662 02:01:01.479 --> 02:01:03.439 Right now, you should really call Dan. 2663 02:01:03.560 --> 02:01:05.920 I mean, you're talking seven hundred thousand dollars to be 2664 02:01:06.000 --> 02:01:09.640 quite honest. Okay, I'm going to say something, and there 2665 02:01:09.760 --> 02:01:11.800 might be two rules of thought, because I don't know 2666 02:01:11.840 --> 02:01:14.960 how much money people's kids have. But you know, I'm 2667 02:01:14.960 --> 02:01:18.399 an only child. I paid for my parents live in Florida. 2668 02:01:18.520 --> 02:01:21.680 I paid for all their stuff. I paid for their 2669 02:01:21.800 --> 02:01:24.960 estate planning because ultimately all it does is benefit me, 2670 02:01:25.000 --> 02:01:27.319 and they're my parents. So I don't know why in 2671 02:01:27.359 --> 02:01:31.239 a case like John, someone that stands to inherit seven 2672 02:01:31.359 --> 02:01:35.039 hundred thousand dollars of equity from the house wouldn't pay 2673 02:01:35.079 --> 02:01:36.239 to make sure it's done right. 2674 02:01:36.680 --> 02:01:38.800 I just don't know why. Do you see that a lot? 2675 02:01:39.880 --> 02:01:42.560 It certainly happens, and it is weird that that is 2676 02:01:42.560 --> 02:01:44.399 the weird part about state planning is the people making 2677 02:01:44.399 --> 02:01:46.199 the plan and the people receiving the benefits of the 2678 02:01:46.199 --> 02:01:47.439 plan are not the same people. 2679 02:01:47.640 --> 02:01:50.319 So, yeah, they might have a difference of opinion. 2680 02:01:51.439 --> 02:01:53.079 Yeah, but you're still going to be dealing with the 2681 02:01:53.199 --> 02:01:54.479 parents in most cases. 2682 02:01:54.560 --> 02:01:56.239 Yeah, you just got to be careful as the lawyer 2683 02:01:56.279 --> 02:01:59.119 receiving money from somebody who isn't the client, that they 2684 02:01:59.199 --> 02:01:59.800 understand that. 2685 02:02:00.359 --> 02:02:03.199 Well, it's not even so that's not even how I 2686 02:02:03.239 --> 02:02:03.520 did it. 2687 02:02:03.600 --> 02:02:06.840 My parents found somebody that they were comfortable with that 2688 02:02:07.000 --> 02:02:10.000 my dad dealt with professionally in his life at one point, 2689 02:02:10.520 --> 02:02:12.640 and they did the planning. I just paid the bill 2690 02:02:12.680 --> 02:02:14.520 on it. Yeah, I mean, that's more or less what 2691 02:02:14.560 --> 02:02:17.319 I'm saying. I see what you're saying, though, that could 2692 02:02:17.319 --> 02:02:19.960 get a little tricky. If I called you up and said, 2693 02:02:20.119 --> 02:02:22.239 you know, my parents are fine, they live over here 2694 02:02:22.239 --> 02:02:24.760 in Centennial, and I want you to draft all this 2695 02:02:24.920 --> 02:02:26.880 up and I'll have them sign it. I mean, that 2696 02:02:26.920 --> 02:02:28.760 could get a little weird. In fact, is that even 2697 02:02:28.840 --> 02:02:29.840 legal for you. 2698 02:02:30.760 --> 02:02:32.319 To have what somebody else drafted? 2699 02:02:32.399 --> 02:02:32.600 Yeah? 2700 02:02:32.600 --> 02:02:34.520 So no, no, no. So let's say I come to 2701 02:02:34.600 --> 02:02:37.279 you and I say here's what I want, Yeah, and 2702 02:02:37.359 --> 02:02:40.560 I and I basically create their trust for me, and 2703 02:02:40.600 --> 02:02:42.279 then I tell you I'm going to go out and 2704 02:02:42.279 --> 02:02:42.920 get it signed. 2705 02:02:42.960 --> 02:02:44.399 I mean they're gonna have Yeah, they're going to have 2706 02:02:44.439 --> 02:02:46.640 to execute it. They're gon have to have capacity and 2707 02:02:46.760 --> 02:02:49.479 not be pressured. And you know, there's no undue influence, 2708 02:02:49.560 --> 02:02:52.439 there's they know what they're signing, like there's so that 2709 02:02:52.600 --> 02:02:54.880 is the limitation on it. But yeah, as the attorney, 2710 02:02:54.920 --> 02:02:57.279 if that situation came up, I'd be like, I got 2711 02:02:57.319 --> 02:02:58.000 to meet your parents. 2712 02:02:58.640 --> 02:02:58.920 It is. 2713 02:02:58.960 --> 02:03:02.720 So it's really anybody out there. Any questions you have 2714 02:03:02.840 --> 02:03:04.760 after the show. First of all, you can find Dan 2715 02:03:04.840 --> 02:03:07.960 on a refer list. He's been in studio with us 2716 02:03:07.960 --> 02:03:10.399 for years and years and years. But the phone number 2717 02:03:10.439 --> 02:03:13.439 eight three three CEO plans, if you haven't had the 2718 02:03:13.479 --> 02:03:15.800 will looked at, if you don't know, if you need 2719 02:03:15.800 --> 02:03:18.319 a trust, if you just had a baby, if your 2720 02:03:18.399 --> 02:03:22.840 kids just turned over eighteen, there's so many reasons to 2721 02:03:22.920 --> 02:03:24.159 go back and look at things. 2722 02:03:24.359 --> 02:03:25.159 Did you know this? 2723 02:03:25.760 --> 02:03:27.840 And once again Dan, if I say this incorrect, but 2724 02:03:27.880 --> 02:03:31.960 I'm basing this off, calls people forget to update the trust. 2725 02:03:32.439 --> 02:03:35.279 And let's say Uncle Fred's on the trust and he 2726 02:03:35.319 --> 02:03:38.399 gets one tenth of whatever, and you don't update it. 2727 02:03:38.439 --> 02:03:41.720 When Uncle Fred dies, uncle Fred's kids will end up 2728 02:03:41.760 --> 02:03:42.600 getting that portion. 2729 02:03:42.760 --> 02:03:46.359 Generally, go with a sure thing Denver's Best Roofer Excel 2730 02:03:46.479 --> 02:03:49.560 roofing dot com. You don't pay a cent until you're content. 2731 02:03:52.920 --> 02:03:56.119 Time for an insurance check up free no obligation. In comparison, 2732 02:03:56.239 --> 02:03:59.720 call Compass insurance paying too much your coverage at dozens 2733 02:03:59.760 --> 02:04:02.560 of insurance companies find out now three oh three seven 2734 02:04:02.640 --> 02:04:05.439 seven to one help. You'll think you're his only customer 2735 02:04:05.479 --> 02:04:07.720 when you choose Frank durand the real estate man dot 2736 02:04:07.760 --> 02:04:11.119 com to list your home with Remax Alliance three oh 2737 02:04:11.119 --> 02:04:13.079 three nine two zero sixteen twenty two. 2738 02:04:25.159 --> 02:04:27.479 All right, three oh three seven one three eight two 2739 02:04:27.600 --> 02:04:29.960 five five. I've got to tell you about Wave eight. 2740 02:04:30.000 --> 02:04:30.279 Look. 2741 02:04:30.960 --> 02:04:35.439 Tom started this. This is one of those companies. Tom Martino, 2742 02:04:35.920 --> 02:04:37.760 by the way, he's a very wealthy man. If you 2743 02:04:37.800 --> 02:04:40.640 didn't know that, yes, and I don't. He hates when 2744 02:04:40.640 --> 02:04:41.560 I say stuff like this. 2745 02:04:41.760 --> 02:04:42.039 He goes. 2746 02:04:42.039 --> 02:04:44.239 People don't want to Yeah, they do. He flies a helicopter. 2747 02:04:44.560 --> 02:04:47.359 You know how many people privately fly a helicopter in 2748 02:04:47.359 --> 02:04:48.439 the state of Colorado. 2749 02:04:48.960 --> 02:04:52.239 Two? Okay, so let let let's talk real world. 2750 02:04:52.279 --> 02:04:53.079 Who's the other one? 2751 02:04:53.159 --> 02:04:54.319 I have no idea. 2752 02:04:54.439 --> 02:04:57.760 I have no clue, Dimitri, I really don't know. So 2753 02:04:57.880 --> 02:05:00.000 he got sick and tired of paying what he refined 2754 02:05:00.039 --> 02:05:03.039 first who as a middleman? So he literally years ago, 2755 02:05:04.239 --> 02:05:06.600 right about towards the end of COVID, he started diving 2756 02:05:06.640 --> 02:05:10.039 into this venture and he started Wave eight. And what 2757 02:05:10.079 --> 02:05:13.239 Wave eight is basically financial advisors, but it's in house 2758 02:05:13.640 --> 02:05:16.800 most financial advisors. Ask yours, I don't care who it 2759 02:05:16.880 --> 02:05:20.640 is right now, Ask your financial advisor, you know, do 2760 02:05:20.720 --> 02:05:23.399 they place it or do they take your money? And 2761 02:05:23.439 --> 02:05:27.000 then they go to somebody else, like a big company 2762 02:05:27.079 --> 02:05:30.720 like Schwab that's making all the decisions. All you're doing 2763 02:05:30.800 --> 02:05:35.079 is paying the middleman with most financial advisors. And Tom 2764 02:05:35.359 --> 02:05:37.960 got pretty sick and tired of paying that middleman fee. 2765 02:05:38.079 --> 02:05:40.479 He's like, look, I have worked my whole life for 2766 02:05:40.520 --> 02:05:43.600 this money. I developed a career over fifty years, and 2767 02:05:43.680 --> 02:05:45.960 the bottom line is this, I don't want to pay 2768 02:05:45.960 --> 02:05:46.479 a middleman. 2769 02:05:46.880 --> 02:05:49.199 Why do that? No one should have to do that. 2770 02:05:49.640 --> 02:05:53.079 So we started Wave eight and you can call him up, 2771 02:05:53.159 --> 02:05:55.399 you can talk to him. Your money is going to 2772 02:05:55.399 --> 02:05:58.560 be with Tom's money. Anytime you want to talk about 2773 02:05:58.600 --> 02:06:02.520 your investment and talk to Tom about it, you can talk to. 2774 02:06:02.399 --> 02:06:05.960 His entire firm down there about it. They'll update you every. 2775 02:06:05.760 --> 02:06:08.039 Month on what's going on with your money if you want. 2776 02:06:08.399 --> 02:06:12.600 They are literally changing the way people invest. It's direct 2777 02:06:13.520 --> 02:06:18.479 investment management, customized to you for every client. No one's 2778 02:06:18.479 --> 02:06:21.520 the same you might not be because of your age 2779 02:06:21.800 --> 02:06:25.279 or your financial situation. You might not be right for 2780 02:06:25.399 --> 02:06:27.880 certain investments. They're gonna talk to you about it, and 2781 02:06:27.880 --> 02:06:29.479 they're gonna talk to you all the time on it. 2782 02:06:30.000 --> 02:06:33.199 They're committed to doing that, and it's an incredible company. 2783 02:06:33.399 --> 02:06:35.680 I mean, it really is. Here's a phone number. I 2784 02:06:35.720 --> 02:06:39.439 love it, three oh three seven seven one Help three 2785 02:06:39.600 --> 02:06:43.760 zero three seven seven one help three oh three seven 2786 02:06:43.920 --> 02:06:46.439 seven to one help or visit the website. You can 2787 02:06:46.520 --> 02:06:49.520 learn more right there. But invest with Martino dot com. 2788 02:06:49.640 --> 02:06:52.039 You know, we spent over a year getting all his 2789 02:06:52.199 --> 02:06:55.760 financial licensing. I mean, when Tom puts his mind to it. 2790 02:06:55.800 --> 02:06:57.880 By this time, if you've been a fan of the 2791 02:06:57.920 --> 02:07:01.159 show or been following Tom for forty five years in Colorado, 2792 02:07:01.399 --> 02:07:02.199 you know who he is. 2793 02:07:02.640 --> 02:07:03.159 You know it. 2794 02:07:03.960 --> 02:07:05.880 The man's going to take care of your money better 2795 02:07:05.880 --> 02:07:07.199 than anybody else out there. 2796 02:07:07.880 --> 02:07:08.239 All right. 2797 02:07:08.319 --> 02:07:10.319 I said my piece with that, and I mean it. 2798 02:07:10.439 --> 02:07:13.039 I mean every word of that. I have personally known. 2799 02:07:13.079 --> 02:07:15.840 Time coming on thirty years, I do want to finish 2800 02:07:15.920 --> 02:07:17.159 up with Gierra Guillermo. 2801 02:07:17.960 --> 02:07:20.359 Notice how I had to look at my fanatical spelling 2802 02:07:20.399 --> 02:07:23.119 to get it right. But Guerremo, here's the bottom line. 2803 02:07:23.239 --> 02:07:27.039 This roofer came out. He took five thousand dollars from you. 2804 02:07:27.359 --> 02:07:30.199 He's only paid five hundred back. You called a while back. 2805 02:07:30.479 --> 02:07:32.800 You've got a court case coming up. I assume it's 2806 02:07:32.800 --> 02:07:35.600 small claims, right, correct? 2807 02:07:35.760 --> 02:07:35.880 Yes? 2808 02:07:36.119 --> 02:07:38.520 Do you have the PaperWorks? You have the two forty 2809 02:07:38.560 --> 02:07:40.960 eight and do you have the two fifty the PDF 2810 02:07:40.960 --> 02:07:42.399 two forty eight and two fifty? 2811 02:07:44.159 --> 02:07:48.720 Uh bottom? Since two fifty did EF two fifty. 2812 02:07:49.119 --> 02:07:54.600 Two forty eight? The instructions? What questions? What w what 2813 02:07:54.720 --> 02:07:56.399 specific questions do you have? 2814 02:07:58.279 --> 02:07:58.520 Well? 2815 02:07:58.560 --> 02:08:01.039 I guess one of the first one is to well. 2816 02:08:01.079 --> 02:08:06.439 In one of them, it says J of the JDS 2817 02:08:06.479 --> 02:08:09.880 document two fifty, it says visual officer, a magistrate or 2818 02:08:09.960 --> 02:08:13.439 judge may may hear your case. I thought a judge 2819 02:08:13.520 --> 02:08:15.439 wasn't going to hear the case overall? Well, so do 2820 02:08:15.520 --> 02:08:15.960 I have to do? 2821 02:08:16.199 --> 02:08:16.279 Well? 2822 02:08:16.319 --> 02:08:20.720 It doesn't matter. I mean, generally most counties Denver ironically 2823 02:08:20.800 --> 02:08:24.279 is not one, but most, including Douglas County a rapo, 2824 02:08:24.640 --> 02:08:27.399 you generally have to go to mediation first. But if 2825 02:08:27.439 --> 02:08:29.439 he doesn't show up, none of that's going to matter. 2826 02:08:29.680 --> 02:08:32.119 And if you don't agree to what he says. Let's 2827 02:08:32.119 --> 02:08:34.800 say he does show up for mediation and he goes, well, 2828 02:08:34.800 --> 02:08:37.119 i'll pay him five hundred bucks a month. You're going 2829 02:08:37.199 --> 02:08:39.359 to look at the mediator and said he already agreed 2830 02:08:39.399 --> 02:08:41.680 to that six months ago, when he hasn't done it, 2831 02:08:41.720 --> 02:08:43.800 So I don't agree to it. So you'll get to 2832 02:08:43.880 --> 02:08:45.479 choose whether you're going to go in front of a 2833 02:08:45.560 --> 02:08:48.359 judge a Magistrate's not going to matter. In fact, I'm 2834 02:08:48.359 --> 02:08:50.880 gonna ask Dan mackenzie, attorney a law. I mean, a 2835 02:08:50.920 --> 02:08:54.159 magistrate is a judge, but there must be a difference. Literally, 2836 02:08:54.199 --> 02:08:56.479 what is the difference? Is it time on the bench? 2837 02:08:57.199 --> 02:08:57.399 No? 2838 02:08:57.520 --> 02:09:00.640 I mean a magistrate is employed by the they're they're 2839 02:09:00.680 --> 02:09:03.680 not really an official judge. They are employed by the 2840 02:09:03.720 --> 02:09:07.239 judiciary to help alleviate the caseload of the judges. You 2841 02:09:07.359 --> 02:09:10.039 have to consent to using them or if they are assigned. 2842 02:09:10.079 --> 02:09:11.720 If it is assigned to a magistrate, you can ask 2843 02:09:11.720 --> 02:09:13.359 that to be assigned back to a judge. But a 2844 02:09:13.399 --> 02:09:16.279 lot of magistrates are great, and uh yeah, it's no 2845 02:09:16.640 --> 02:09:18.359 you know, I got some magistrates who are great and 2846 02:09:18.399 --> 02:09:19.119 some judges aren't. 2847 02:09:19.199 --> 02:09:22.239 Yeh exactly, so so really it doesn't matter. But with 2848 02:09:22.319 --> 02:09:25.600 small claims on that form, they're basically telling you if 2849 02:09:25.640 --> 02:09:28.399 you go the route of small claims. You're agreeing right now. 2850 02:09:28.439 --> 02:09:31.199 It could be a magistrate. So I highly doubt they're 2851 02:09:31.239 --> 02:09:33.239 going to let you change it. But I have no 2852 02:09:33.319 --> 02:09:34.920 idea why you would. 2853 02:09:37.079 --> 02:09:40.880 Gerimo, is that is that magistrate judge's name Garland? 2854 02:09:43.439 --> 02:09:45.039 Well we'll see the thing is that? 2855 02:09:45.079 --> 02:09:45.319 Okay? 2856 02:09:45.359 --> 02:09:47.399 So I went in there. I went to the Adams 2857 02:09:47.399 --> 02:09:51.119 County Justice Center, submitted all the paperwork. They gave me, 2858 02:09:51.119 --> 02:09:52.600 this stalk me and the sit for you for me 2859 02:09:52.680 --> 02:09:55.119 to review, and one of like, I think it's like 2860 02:09:55.920 --> 02:09:58.039 it's like the instructions but it's a different name, but 2861 02:09:58.039 --> 02:10:00.760 it's just information for plaintiffs and small quaims. Yeah, and 2862 02:10:00.760 --> 02:10:06.359 it says on J, ABC, BF whatever through J And 2863 02:10:06.399 --> 02:10:09.720 then it just threw me off on that part. I 2864 02:10:09.760 --> 02:10:11.640 just thought, I guess overall, we're just going to be 2865 02:10:11.760 --> 02:10:14.399 in mediation when I go on January thirty. First, if 2866 02:10:14.560 --> 02:10:16.079 even goes right. 2867 02:10:16.079 --> 02:10:20.199 Yeah, mediation is generally generally first, just go up. I 2868 02:10:20.199 --> 02:10:23.079 don't think he's going to show up, and then basically 2869 02:10:23.079 --> 02:10:24.800 you'll go in front of a judge. In fact, if 2870 02:10:24.800 --> 02:10:27.600 he doesn't show up, you should ask some mediator. If 2871 02:10:27.600 --> 02:10:30.960 the judge is there, if she can or he can 2872 02:10:31.479 --> 02:10:34.840 go in and basically just get the judgment right then 2873 02:10:34.880 --> 02:10:36.239 and there if they don't show up. 2874 02:10:39.439 --> 02:10:41.560 But then the hard part comes. I got to put 2875 02:10:41.560 --> 02:10:42.840 you on hold because I'm running. 2876 02:10:43.319 --> 02:10:47.199 Give him my email, Kelly, give Gierramo my email, because 2877 02:10:47.399 --> 02:10:50.399 getting the judgment when someone doesn't show up, and that 2878 02:10:50.520 --> 02:10:53.239 happens all the time, that's the easy part. Then, believe 2879 02:10:53.279 --> 02:10:55.039 it or not, you're gonna have to start all over again. 2880 02:10:55.199 --> 02:10:57.039 And what I mean by that is now you've got 2881 02:10:57.039 --> 02:10:59.720 to go serve him with interrogatories and you got to 2882 02:10:59.760 --> 02:11:02.279 track him down, and then you got to serve him again. 2883 02:11:02.479 --> 02:11:04.800 And then when he doesn't fill him out within fifteen 2884 02:11:04.880 --> 02:11:07.960 or thirty days, whatever whatever the time period is, then 2885 02:11:08.000 --> 02:11:09.000 guess what you gotta do. 2886 02:11:09.239 --> 02:11:10.760 Then you got to go back in front of. 2887 02:11:10.680 --> 02:11:12.760 That judge and you got to tell the judge to 2888 02:11:12.800 --> 02:11:15.359 hold him in contempt because he had a certain amount 2889 02:11:15.359 --> 02:11:18.239 of time to fill out the interrogratories. Then guess what, 2890 02:11:18.359 --> 02:11:21.479 You start all over again. Then you take that contempt 2891 02:11:21.600 --> 02:11:23.720 order and go serve them and then you bring it 2892 02:11:23.760 --> 02:11:24.640 back to the judge. 2893 02:11:24.880 --> 02:11:25.920 That's the good part. 2894 02:11:26.159 --> 02:11:28.880 Once you go through all that, most likely he's going 2895 02:11:28.960 --> 02:11:31.560 to have a bench warrant out for him for forty 2896 02:11:31.640 --> 02:11:34.439 five hundred bucks. So if he gets picked up speeding 2897 02:11:34.520 --> 02:11:37.479 or robbing a liquor store, or gets arrested at all, 2898 02:11:37.680 --> 02:11:39.960 he's going to sit into the can. He's gonna sit 2899 02:11:40.000 --> 02:11:42.039 in the can until you pay it. That's just the 2900 02:11:42.039 --> 02:11:43.439 way it works. I gotta take this. 2901 02:11:44.199 --> 02:11:47.439 Go with a sure thing Denver's Best roofer Excel Roofing 2902 02:11:47.560 --> 02:11:50.199 dot com. You don't pay a cent until you're content. 2903 02:11:53.560 --> 02:11:56.760 Time for an insurance check up free, no obligation. In comparison, 2904 02:11:56.920 --> 02:12:00.560 call Compass Insurance. Pay too much your coverage? Dozens of 2905 02:12:00.560 --> 02:12:03.520 insurance companies find out now three oh three seven seven 2906 02:12:03.640 --> 02:12:06.399 one help. You'll think you're his only customer when you 2907 02:12:06.479 --> 02:12:09.479 choose Frank durand the Realestateman dot com to list your 2908 02:12:09.520 --> 02:12:12.680 home with Remax Alliance three oh three nine two zero 2909 02:12:12.760 --> 02:12:13.720 sixteen twenty two