Stop sharing my screen and hand it over to Stu. Well, thanks, Leah. We could have done this without you and I really appreciate all you've done. Okay. I'm Stu Bronsty and I'm one of those lawyers that does a state planning. I've been doing it for a long, long time. And I put together this presentation for people to just sort of understand what it's all about. I did get some questions and a lot of the questions are answered in the presentation, but I'll go over. Three of these right now. Because they're, they're sort of outside the presentation. First one, if you have a living trust and the items listed on schedule a change saying account is closed or a new account is open, does the schedule a need to be updated with the attorney? The answer is no. Schedule a is just where you start with, with your assets to put them in the trust. But later on. The, the trust just is the one who purchases the assets or the trust is the one who that puts its name on the assets. So you don't have to change schedule a and you certainly don't have to change it with a lawyer. Also about, let's see, can you have a clause saying when somebody mentioned as a beneficiary and they sue for whatever reason, they are to be eliminated as a beneficiary. The answer is you can put that in there. And the reason is because it may not be all that useful. And the reason is because if somebody sues. Because they should have been in there and they're not, which does not happen very often. And they win. They're going to win whether you have that clause in there or not. So. If they lose, then they lose everything. Is that what you really want? So that's something to consider. Also about ways to give money to charity in a way that minimizes taxes. Your organization may have to pay when you make a gift to a charity, the charity does not pay taxes. On that. So I'm not sure if that was what the question was about, but those are the questions. Okay. I will be. Now, if you have questions, put them in the chat. And Leah will collect those. Okay. Okay. So I'm going to go ahead and do that. I'm going to do that. I'm at the end. I'll go over as many. As possible. Okay, let's see. So what. What is the state planning about the first question I get a lot is, well, what is an estate? People say, well, I don't have a lot of money. I don't have a big house. Why do I need to plan my estate? And the answer is. That having an estate. It just means. That you have to have. Something to pass on when you pass away. And if you have something to pass on when you pass away, you should plan that a state to make sure it goes where you want it to go. So if the only thing you have to your name is your car. And you were just in an accident. And the cars now worth a hundred bucks. You still have an estate and that's it. You have a wrecked car that's worth a hundred bucks. And you should still plan your estate. So what can you do to plan your estate? Well, there are a lot of things you can do. And I can't cover everything now, but I'll cover most of the major ones. But probably the most common thing that people do, the most popular thing that people do actually is. Nothing. There was an article a while ago. And I was either the. The New York Times of the Wall Street Journal, I forget that said that almost two people out of three. Don't do anything to plan their estate. I think that a lot of people have trouble facing their own mortality. And they just don't want to deal with it. So the fact that you guys are here and dealing with this. Is that the state of California already puts you in the top third. So congratulate yourselves for that. Now, if you do nothing. Unlike some people, the way some people think, your state does not go to the state of California. Gavin Newsom won't get his grubby little hands on your estate. Instead, what happens is that the. Legislature has written a will for you in the law. And what it says is actually what a lot of people would want to have happen. It says that if you're married, what you have goes to your spouse. If you're not married, what you have goes to your kids. And if you don't have kids, what you have goes to your parents. If they're still alive. And to your sibling to their, to your siblings, if your parents aren't alive to your siblings and to their kids. So that's pretty much what most people would want to happen actually. If you have an issue like a little better than a nephew. If you have a son that's a drug dealer. And you don't want to leave him anything. You can't do that with the legislature's will. You have to write your own well. And make it clear exactly what you want to do. Now there are some other reasons to make a will too. Even if you want your, your. Your, your, your. Your. A wall is to go where the legislatures will, says it'll go. And one of the reasons is that there's a, there's a really high chance that your state will go through probate. And in probate. You're required to have somebody called an executor. Well. If you write your own will, you get to pick who that executor is going to be. The executor is the person who gets all your. your property together, make sure that it all goes where you want it to go. And if you write your own will, you can choose your executor. But if you don't write your own will, you don't get to choose your executor. In fact, some judge is going to do it. Very often, it's the first person who gets in the court to say that they want to be the executor. Usually, it's a family member. Sometimes, it's not. I was working within a state a few years ago where this lady died owning a little apartment building in the inner sunset. It was worth quite a bit of money, but she didn't have a will. So her daughter went into court and said, I'm the daughter. I'm an inheritor. I want to be the executor. And she had a grandson, who was the son of another daughter who died before she did. And her grandson said, wait a minute. He ran into court and said, I think my aunt's going to try and cheat me out of my inheritance. Make me the executor. And the judge looked at these two people. And like we look at six-year-olds who are squabbling said, well, if you guys can't figure it out, then neither one of you is going to be the executor. And he picked one of his golfing buddies to be the executor. Not only to be the executor, but to get the $45,000 executor's fee, which could have stayed in the family. But no, it couldn't because the family members were squabbling. If the lady had named an executor, that would not have been a problem. There's also another reason to make a will, even if you want your stuff to go where the legislature's will says it'll go. And that is that your executor is required by law to have what's called a fidelity bond. A fidelity bond is just a fancy name for an insurance policy that protects your errors against your executor's stealing from them. It's issued by an insurance company and everything. And like all insurance products, you have to pay a premium. Well, this protects your errors against the executor's stealing from them.  That comes out of the estate. It comes out of the pockets of your kids.  Another way you can plan your estate is to use a trust. And I'll talk more about trusts in a little while but there are some major differences between wills and trusts. And I'll talk about those in a couple of minutes. Let's see. All right. So one of the things that trusts can do is to avoid probate. Why do you want to avoid probate? One of the reasons for avoiding probate is the high cost. In California, which is not the most expensive state but it's close, executors and attorneys for executors have what are called statutory fees. The legislature has made a law that said that lawyers and executors get a percentage of the size of the estate because they don't want errors to be dinged to be taken advantage of by fees that are too high. But for a lot of estates, the fees are really high anyway. So the fees run 2% plus $3,000 for the first million dollars and 1% for the next nine million dollars. So if you have a $1 million estate, your executor's fee is going to be $23,000, your lawyer's fee is going to be $23,000 and then there are other costs. So that's going to be $50,000. That's a lot of money. So that's one reason to avoid probate because if you use a trust or some other way to avoid probate, the cost is usually much lower. In probate, when you have a will, in California, the average probate goes less from one to two years. In fact, it's hard to get a probate done in less than one year. I had one probate that I did that was pretty easy. And we went as fast as we could possibly go and we didn't get it done in less than a year. Sometimes probates take a lot longer. Three, four, five years isn't all that unusual. I actually had a very unusual case one time where I got a call from people who said that they were named in this lady's will and the lady died and they hadn't heard anything. And she died 21 years ago. So I came in and I was able to close the estate in the next six months and get them their money. Probates being open for that long are unusual but every once in a while it does happen. When you use some other method to avoid probate, usually they don't take nearly that long. Okay, when you write a will and your estate goes through probate, all the information in the probate file is public. In fact, I filed the probate petition one time, took it to the court, filed it, got back to my office and within two hours I got a call from a real estate agent who wanted to sell the property owned by the estate. Somebody got that information within two hours. It's that public. So what's in that file? Well, the will of course is in the file and the will talks about your family and all that. But also in the file, they're required to list all your assets, every asset, your bank accounts and bank account numbers, real estate that you have, everything is listed in the probate file. Also all your close relatives are listed, their names and addresses and the form even tells them they have to put down how old they are. So if you have a sister who doesn't want people to know how old she is, then you better make sure that she dies before you do if your estate's going to probate because if you died first and people get that probate file, they'll be able to figure out how old she is. Okay. So what in the world is probate anyway? We've heard that it's something that happens after you die and it's something about going to court but what really is it and what's it for? Well, probate was really set up for one particular purpose and that is that we all have certain kinds of things that have written ownership, written title. So if you have a house, you have a deed and you can't give away or sell your house unless you sign your name on a new deed.  And if you have a car, there's the pink slip and you can't give away or sell your car again, without signing your name. So you can imagine that there's a problem, right? Because after you die, well, you can't sign your name anymore. At least most of us can't sign our name anymore. So that's the problem that probate was set to solve. That you can't sign your name anymore. So how is that property transferred? In probate, a judge's court order takes the place of your signature to transfer ownership of those properties that would otherwise need your signature. That's really pretty much all of it is.  They do other things. They wanna make sure that all your creditors get paid before the greedy relatives, for example. But I have a will, people have said that to me. I have a will, why should my state have to go through probate? Well, unfortunately, having a will doesn't avoid probate by itself. In fact, there are things that in addition to transferring title, there are things that probate does that protect your will. That if you didn't have your assets could be at risk. For example, imagine going on a trip to Greece for six weeks and you come back and you go to your bank to get some cash out of the ATM and you can't do it. The ATM says that your account's closed.  This guy came in and he told us you died and he showed us a thing that he said was your will and it said you left everything to him. So we just gave him all your money. One of the things that probate protects against is that. So if you have a will, your estate will go to probate and it can actually be helpful in some situations. Now, the legislature says that if you have an estate of over $166,000 that would otherwise have to go through probate, then it has to go through probate. If your estate is below that, they figure, well, that's not enough to worry about. If somebody steals it, they can get it back. It's not all that much according to the legislature. So if you keep the assets in your estate under $166,250, you can avoid probate even without using a trust. So for example, if you have bank accounts and you name beneficiaries on the bank accounts, those accounts will go directly to your beneficiaries when you die. They do not need to go through probate and they are not counted against $166,250. If you have stock account with a stock broker and you have beneficiaries named, those stocks will go to your beneficiary. Doesn't matter what your will says and it will not go through probate. If you have money in an IRA and the IRA names a beneficiary, it will not go through probate. It doesn't matter what your will says and that money is not counted against $166,000, okay? So there are ways of structuring your estate to avoid probate without having to use complex techniques. Now a trust is one of those things that some people should be using to avoid probate, but what really is a trust? We've heard about trusts. They're supposed to avoid probate. They're supposed to be good, but what really are they? How do they work? What are they for? Well, I like to think of having a trust is like having your own private corporation because trusts and corporations really are legally almost identical. For example, there is nothing tangible that's a corporation, corporations own property, but the corporation itself doesn't really exist. The law just says that if you have the right piece of paper and for a corporation, it's called articles of incorporation. If you have that, then we will pretend that there's this entity called the corporation and it's allowed to transact business and buy and sell property. So if you see a building that's owned by a corporation, that's all that it is. A trust is the same way. The trust doesn't really exist in tangible form. It's just an idea that the law says if you have the right piece of paper and for a trust it's called indenture of trust, then we'll pretend that there's this entity out there called the trust and it's allowed to own property and transact business. And if you have a trust, it will have to own your property and transact your business. If you don't, then you've wasted your money because the trust only works for what a trust legally is the owner of. Okay, so you need to take your house and create a new deed and put it in the trust. If you have expensive cars, you need to take those and transfer title to the trust. You should put everything in the trust that you can. Now a corporation is run by the president. The president's responsible and has authority for all the business of the corporation, all the transactions of the corporation. The president can delegate authority to employees but the president is the one with the ultimate power and the ultimate authority and responsibility. A trust has somebody just like a president we call them the trustee. For most people when a person sets up a trust they become their own trustee and put their own property into the trust. So in effect, they become the president of their own corporation and their corporation owns all of their stuff. So they can treat all their stuff the same way they did as before there was a trust. All right, so how does a trust work to avoid probate? Well, I'm going to give you an example but it's an example using the corporation. Imagine that there's a small corporation with maybe a dozen employees and it's got one owner. The owner is the president and every week on Thursday the president comes in, his secretary gives them payroll checks. He signs the payroll checks and all the employees get paid on Friday. Pretty normal natural thing to happen. Well, this particular Thursday he sits down his secretary brings him his checks but before he has a chance to sign even one he hears a loud knocking at the door. Well, he's a little surprised because he wasn't expecting anybody. So he goes to the door and opens it and he can't see a thing because there's this bright light shining in his eyes. So he steps back a little bit to see if he can get some perspective but the light is so bright he still can't see anything but he hears somebody say, my name is Anderson Cooper and I'm here to ask you about your corporate practices. Well, he wasn't expecting that. He didn't want that.  Now he's got a problem, right? And the problem isn't the dead guy in the chair. The problem is we have a dozen employees who wanted to be paid tomorrow and there was nobody authorized to sign those paychecks. How do we get those checks signed and the employees paid on time? Well, a corporation has not only a president but a vice president. And when a president dies, the vice president automatically becomes the new president. As a new president, he can have the corporation send a letter to the bank saying that there's a new president. He goes down there as the new president, puts his name on the signature card and boom, he's authorized to sign those checks. He comes back, signs them, everybody gets paid on time. No lawyers, no probate courts, no rigmarole. Okay, pretty simple. A trust has somebody exactly like the vice president and we call him the successor trustee. When the original trustee dies, the successor trustee becomes the new trustee and has the authority just for that alone to do what the trust says to distribute the property, the way the trust says he's supposed to do it. Now, just like the vice president had to notify the bank and go down there and put his name on the signature card, successor trustee has to do some things too. One of those things is that he has to get a certified copy of the death certificate of the prior trustee. And then he has to get a copy of the notarized trust to show people that he's the next one in line. And that's all that he needs to do. Okay, now there are different kinds of trusts and trusts are divided in a lot of different ways so trusts can fit into a lot more than one category. So there are revocable trusts and irrevocable trusts. Revocable trusts are used mostly for estate planning. Irrevocable trusts are used in very rare situations but in very specific situations. So when there's an insurance trust, that's an irrevocable kind of trust. Insurance trusts are specific and used by people in very high tax brackets. Most people don't need to worry about that. But if you have a state or if you have in a state of more than $12 million, an insurance trust could be really helpful. Non-profit trusts, you've heard of like trust for public lands. Non-profits can be either corporations or trusts and the non-profit trust needs to be irrevocable. And estate planning trusts, when the person who sets up the trust dies, that trust then becomes irrevocable. And as it's irrevocable, just like a corporation, it becomes its own tax-paying entity and has to pay taxes to the extent that it or at least file tax returns if it doesn't owe any taxes. So there are other ways to avoid Pro-A2 and one is to use what's called the pay-on-death account. You can have an account with a bank or a stockbroker where you can name a beneficiary. They can call it different things, but a POD account is one of those names.  It will not go to Pro-A2. It will not be counted against the $166,000 Pro-A2 dividing line. And it doesn't matter what your will says, it will go to that person. Joint tenancy is another way that people avoid Pro-A2. Joint tenancy is not a great way to avoid Pro-A2. And the reason is because when you make someone a joint tenant, and I've seen people do this, where parents will add a child as a joint tenant of their property to pass it to them when they die without Pro-A2.  And that could lead to some problems. For example, let's say the house is too big for you. You want to downsize and move to a smaller place or you want to move to a warmer climate when you retire. Unless your joint tenant child agrees and signs off on it, you can't do that. You can't do it without their consent anymore. If your child gets into financial trouble, let's say your daughter's in a bad traffic accident and is in the hospital for a year, runs up $3 million of medical bills, but you only have $2 million of medical insurance, your daughter is a full owner of your house.  She is a co-owner. So joint tenancy is something that I don't normally recommend. What's similar to joint tenancy for married couples is called community property with rights of survivorship. Now, I do recommend that and there are two reasons. One is that when couples own community property and one dies, well, I'll talk about some of this a little bit later, but community property with rights of survivorship is good for married couples for several different reasons. One is that the title automatically goes to the village spouse without any kind of probate process. And then in addition to POD accounts, there's a thing called a TODD. It stands for transfer on death deed or it's also called a revocable transfer on death deed. We're still under a pilot program. We're now in the last year of the pilot program, the legislature is working on a permanent TODD statute. But in the meantime, there's this temporary law that allows you on one property, residential property only, to name someone as basically a beneficiary on your house. Excuse me, so that when you die, the property will go automatically to that person or those people will not go through probate, will not be counted against the $166,000 probate delineator and you don't need a trust to avoid probate. So there are other issues with estate planning as well. One is that some people like to leave property to charity, but when you leave something to charity, you need to be careful. First of all, there are a lot of different ways to leave things to charity, but the one problem that I've seen happen is that there are lots and lots and lots of charities out there. If you ever go to the IRS website, you can get a list of all the approved charities that have been approved since 1927. There are charities that were approved before that, they're not on that list, but all the ones since 1927 are on that list. And the last time I looked, which was quite some time ago, there were 23,000 pages of them. Lots and lots of charities out there. And you can imagine that with all those charities, there might be a lot of them that have similar names. I've seen this happen that unless you're really careful, a gift that you mean to go to one charity could end up going to a different charity. There was one case, I swear to God, this really happened, it was a judge who told me about this. Where there was a lady from Connecticut who left a rather large gift to a university in California. Now, nobody could figure out why. She had never lived in California, she didn't have any friends in California, her husband didn't either, her children didn't either. And she had no contacts that anybody could find with California. But in her will, she left, quote, $5 million to the University of Southern California, also known as UCLA. Well, you can imagine that was confusing to people in California, if not people in Connecticut, because those are two completely different schools. And what did they do? They could have sat down and talked about it, they could have done a joint inquiry, but no, they both hired lawyers and sued each other. And this lawsuit went on for seven years where they would send lawyers and investigators down to Connecticut and they did research and they did investigations and they tried to figure out which school this person met. Which one she had any kind of contact with, which one she had any kind of good feelings toward. And after seven years, they still haven't figured it out, but half of the money was gone in paying lawyers' fees. I mean, the real tragedy was, I didn't get any of it, but half of it was gone. So at that point, they decided it was UCLA to keep fighting and they agreed to split the rest. The point is that the school that she actually met to get her gift got one quarter of what they should have gotten because of that little mistake. Where to keep your will, that's another issue that comes up from time to time. And conventional wisdom is that you wanna keep it with your important papers and you wanna keep it in a place that people can find it, but is protected against disasters. So one thing that people suggest is a fireproof, waterproof, safe. Now there are small ones, like nine by 12 fireproof, waterproof, safe. So you can get them for about $50 at Costco or Home Depot or you can get a larger safe. But one place you do not wanna keep your will is a safe deposit box. And why? Because you're the only one who can get at that safe deposit box. And if you die, nobody else can get there without a court order and they can't get a court order without your will. There was one case years ago here in San Francisco where, and this was when the Neptune Society first got started. I remember reading in the Sunday paper, there was a big article on the front page of the Sunday paper in the Chronicle about this new thing opening up called the Neptune Society. And while cremation hadn't been, wasn't really new to the world, it really wasn't very popular in modern society up to that point. So it was big news and a lot of people were talking about it. And it's one family found out about it and they decided they were gonna have a family meeting and talk about it and decide what they wanted to do. And at this family meeting, the consensus was that cremation sounded like a great idea. It was cheaper than burial and it was more environmentally friendly. Everybody in the family thought it was a great idea and wanted to do it, except the dad. It freaked him out to think of being cremated. But he was one of these guys who likes to go along and get along and not cause trouble and not make waves. So he didn't say anything, but it really bothered him. So he went to a lawyer and had a well-drafted that said, do not cremate me. Well, your will really doesn't do anything other than give away your property. So just saying, do not cremate me and your will won't prevent somebody from cremating you. It'll give them the idea that this is what you want, but it doesn't impose a legal obligation. So what he did was in his will, he wrote, if I am cremated, my family gets nothing. And then he stuck his will in a safe deposit box and he still didn't tell anybody about it. So after he died, it took them a while to get a court order to get his safe deposit box open and to see his will. And they didn't actually get to his will until six weeks after he was cremated. So that's not a great place to keep your will. Amending your will, yes, you can amend your will with current technology. If you have a will or your lawyer may have a will on a word processor, it might be really easy to just spit out the whole thing again, but you can amend your will with an amendment, just like a one page or half page amendment, with a will it's called a cortisol. Now there are two kinds of wills and there are two kinds of codicils. One kind of will is called a formal will and it can be printed or typed or written or any combination of those, but it has to be signed by two witnesses saying that they saw you sign this will. There's another kind of will that's called a holographic will. And a holographic will does not need witnesses, but it all has to be in your own handwriting, has to have the data at the top, your signature at the bottom and where you want your stuff to go in the middle. Well, there are some kind of esoteric requirements for wills. So if you want to write your own holographic will and you can have a holographic will or a holographic codisol, you can mix and match, they don't have to be the same. But if you wanna do a holographic will or a holographic codisol, you should look into what the requirements are or get help from a lawyer because I've seen situations where people make little mistakes that void their will. I can see seeing lawyers make these mistakes. One of the mistakes is that the law requires and this is the law, it's been the law for 500 years or more.  So you have to phrase it in the present tense. If you phrase your will in the future tense, it could be ignored by the probate court. For example, if you say, when I die, I will leave my car to my friend, George.  You have to say, when I die, I leave my car to my friend, George, present tense. So there was a story about one guy who decided that he wanted to do his own will. And he was a smart guy. He did really well in school, got into Stanford, did really well at Stanford. And because he did really well at Stanford, he got a great job, did really well in life. And he was so grateful to Stanford, he was a big Stanford booster at one point. He even went on the board of directors at Stanford. And so later in life, he decided he wanted to remember Stanford in his estate plan, just to thank them for all that they had given him. But he was smart, right? He had gone to Stanford. He was too smart to have to pay any money to some goddamn lawyer to do an estate plan. So he wrote his own will. He knew all about holographic wills. And when he came to the part about Stanford, he wrote, I leave $100,000 too. And then he stopped, and why did he stop? Well, I think he stopped because the legal name for Stanford isn't Stanford. He didn't want to just put Stanford because who knows where it would have gone. The legal name is the Leland Stanford Junior University. Well, I don't think he wanted to write that all out. Like, that's gonna give him a writer's cramp or something. That's a long thing. And besides, he was on the board of directors. Once he had a rubber stamp, said the Leland Stanford Junior University. So in his will, he wrote, I leave $100,000 too. And then rubber stamp, the Leland Stanford Junior University. When he died, they did not get one penny because that part was not in his handwriting. So be careful. All right. All right. Now, income tax can be an issue in estate planning and in estate issues. So, but the income tax issue starts with the question, what is basis? Basis is a tax term that basically means what you pay for something. It's the number that you subtract from the profit from the amount you sell something for to determine what your taxable income is. So if you have a house you bought for a million dollars and you sell it for two million, your basis is $1 million and you have $1 million of taxable income. Now, basis can go up or down depending on circumstances. For example, if you buy a house and you make capital improvements, not including repairs, but capital improvements, then the money you put into capital improvements can increase the basis. If you rent it out, then you depreciate it and depreciation reduces the basis. So that's what basis is. So here is how that comes into play in an estate situation. Let's say you bought a house for $50,000. You sold it, it's now worth $500,000. If you sell it now, it's $500,000 minus the 50 basis for taxable income of $450,000. It's pretty simple. And it's the same thing for a married couple. In California, each spouse generally owns half. So if they bought a house for $50,000, each one owns has a basis of $25,000 in their half. It's currently worth $500,000. So if one of them dies and sells it, or if they sell it, basically there's $450,000 of taxable profit. However, if one of the spouse dies, the rule is different. It's still worth $250,000 for each half. The surviving spouse still has a basis of $25,000. But if this is the case, if this is joint tenancy property or something other than capital gain property, the basis for the spouse who died goes up to market value on the date of death. So that spouse is half. The basis goes up to $250,000. So the basis is increased from $50,000 to $275,000. Surviving spouse sells it for $500,000 and there's capital gain of half of what they would have paid before, $225,000. But that's still too much in California. Why? In California, we are special under the tax law. We have community property and the tax law, federal tax law treats community property differently. Here's how community property works in California. Each spouse still has a market value of $250,000. The spouse who dies, their basis goes up to the market value on the date of death. But the other spouse who's still alive, if it's community property, the basis on her half goes up too to the date of death. So with community property, if one spouse dies and the surviving spouse sells it for that value on the date of death, there was zero capital gain. And the same thing works when there's only one person who has a child, for example.  When the parent dies, each half has a value of $250,000. The parent's half gets a basis, increased to the value on the date of death, but the child's half does not get an increase in value in basis. The child gets the same basis in his half as the parent had who gave it to him. So if there's one parent alive and that person makes a child the joint tenant and the parent dies, the child sells the property, the child will have a capital gain of $225,000. But if the property is inherited completely, say if it's in trust so that it avoids probate or if you use a TODD to avoid probate, but the child inherits the whole thing on the parent's death, then the basis on the whole thing goes up to market value, sold for market value, and there was zero taxable income in that case. Now there's also, in addition to income taxes, there's also estate tax. And the reason estate tax is an issue is what I like to call the marital penalty. And what that means is that, let's see, what it means is that the way most people handle their estates, if you do it in the normal course of events, your estate or after both spouse dies, they're going to pay more in estate tax than they need to. So at the moment, each person has a lifetime exemption from the estate tax of about just under $12 million. But that amount is set to get cut in half for people who die after 2025. So I'll talk about having an estate of $6 million per person. So let's say there's a married couple with $6 million per person, so they have a $12 million total estate. One spouse dies, owning $6 million, and that amount is exempt. So there's no tax. And you would expect that when the second spouse dies, it's $6 million, and it's also exempt, so there's no tax in either estate. Unfortunately, it doesn't work that way in real life. What normally happens is that one spouse dies owning $6 million, and there's no tax in that estate. But what happens is that spouse leaves his half to the surviving spouse. Surviving spouse then owns both halves, the whole $12 million. So there's no tax on the first spouse of the estate, but when the second spouse dies, there's $16 million exemption, $6 million is taxed, and then the tax is $2,400,000. That's a whole lot more than zero. It could have been zero, but instead it's $2,400,000. So how do you deal with that? Well, one way to do that is using estate planning trusts. First spouse dies, only $6 million, it's tax-free. But instead of giving it to the surviving spouse, he can give it to his kids. So if he give it to his kids, then it stays tax-free and the surviving spouse never owns it. So it's not taxed in the surviving spouse of the estate either, so then there's no tax. But how many people wanna give that much money to their kids instead of the spouse? Most people wanna leave the surviving spouse with all the assets until the surviving spouse dies. So here's how that would work. When the first spouse dies, the property goes into a trust instead of going to the kids. Now, with this trust, the surviving spouse can be the trustee. Surviving spouse can manage it. The surviving spouse can be entitled to all the income from the trust for life. The trustee, the surviving spouse can also get at the principal if it's needed for purposes of health or education or maintaining her lifestyle. But even though the surviving spouse has all that access to it, it's not treated as owned by her. So when the second spouse dies, she's only credited with her half of the estate and there's no tax in either estate. That's what I mean by the marital penalty and how to avoid it. Now, trusts are not just for estate planning or just not for tax things. They allow you to keep control.  And the answer is probably not. So a trust can allow you to appoint someone to handle that person's money to make sure that he doesn't go and blow it all. In fact, I'm the trustee of a trust right now for a client who died and had a son who has been in that or jail for a long time. He's a drug dealer, drug user. He just, he gambles and he just can't hold on to money. So I am handling his trust and doling out money to make sure that he has what he needs, but not enough that he can go blow his whole inheritance. When there are children from prior marriages, that's another time that trusts can be useful. I've seen situations where couples with kids from prior marriages will have this estate plan where they write their wills and say, when I die, everything goes to you. When you die, everything goes to me. And after we both die, everything goes half to your kids and half to my kids. The problem with that is that sometimes, and I've seen this happen more than once, one of the spouses will die, the other spouse will change your mind and leave everything to her kids and nothing to his kids. And you can prevent that from happening if you use a trust. And finally, grandchild's college fund. Let's say you've got an 18 year old who you wanna help go to college.  I don't think so. Here's what they're gonna do with that money. So if you keep that money in a trust, then you can prevent them from using that money for anything other than what you intend them to use it for. Almost done.  It's also useful for while you're alive. For example, if you are temporarily disabled, you should have a power of attorney. It allows you to appoint someone to manage your affairs if you are unable to manage your affairs for yourself. It allows the person, if you're in the hospital, you broke both your arms, you can't write checks, you can't pay your bills.  To handle your affairs. And if you're permanently disabled, then a thing called an advanced healthcare directive. Some people call it a living will. It's actually a healthcare power of attorney. Can allow you to appoint someone to make healthcare decisions for you if you're not able to do that for yourself. For example, well, we've heard of a lady named Terry Shiva a few years ago who did not have one of these documents. Her doctors said that she had become brain dead but then she was on life support. Her husband wanted to pull the plug basically and her parents did not wanna pull the plug. They thought that she would still come back to life at some point and so they fought in the courts. Well, if you don't wanna have people fighting in the courts for you, you can have a healthcare power attorney that'll tell people what you want and you can direct them how to handle your situation. You can tell them that if you're permanently disabled, if the doctors say there's no hope of recovery to pull the plug or you can tell them, I believe in miracles, don't pull the plug, keep me alive till the last possible moment. It's up to you if you execute this document instead of up to some judge. And that is, let's see, Leah, are you there? We're- Yes, I'm here. Okay, okay, let me stop sharing, okay. There are a lot of questions in the chat and somebody just raised their hand. Okay, how much time do we have? As you know, I think we need to be done in about 11 minutes if that works for you. Oh, that works for me. Okay, so first question, if your IRA goes directly to charity, the charity does not pay taxes on it, but if your IRA goes to the trust first, does your trust pay taxes on your IRA? If the money goes to your trust, then yes, your trust has to recognize that income, but then your trust gets a tax deduction for the contribution to the IRA. It's better if it goes directly because your trust may not get a deduction for the whole thing. There are limits on some deductions, but the trust will get a deduction. They'll have to recognize it as income, but then they'll get a deduction for it. Okay. Okay, thank you. Next question, are local governments considered nonprofits when they received a donation? Normally, yes. Okay. Next question is, how can a trust save on taxes? Okay, well, I already talked about that. If you have other more specific questions, contact me outside of this program. Okay. Next question, I have owned the property for 40 years, paid taxes each year. My double last name on the deed and the assessor stocks has my last names inverted. After all these years, I wanna make sure this property will go directly to my kids without any problems, but do you recommend I do to make this right? Well, one thing you can do is to make sure that the property is actually in your proper name. That's one thing. And what the assessor says and what's on the deed may not be the same thing. So you need to check the deed to make sure the deed is correct. If the deed is not correct, then you can fix that. In terms of going to your kids without rigmarole, you can use a transfer on death deed or you can use a trust. Those are the best ways of dealing with that. Okay. Okay. Christy, you wanna take that, we're trying to figure out, this is just a lot. Okay. Okay, so here's another question. For a property, does simply adding the inheritor to a property deed as a tenant in common serve the same function as putting it into a living trust? Does, no. If someone is a tenant in common, then they become an owner of a part of the property. But when you die, it will not go to them. The rest of the property will not go to them automatically. It will still likely have to go through probate. So that is not a good way to do that. And joint tenancy is also not a good way to do that for the reasons that I mentioned. The best way to transfer property real estate to children is either with a transfer on death deed or with a trust. Thank you, Stu. Here's another question. What impact does Prop 19 have on the estate? Do you have to have your beneficiary on the property? Okay, with Prop 19, there was a recent change in the law with Prop 19. What Prop 19 says is that your beneficiary does not have to be an owner of the property until you die. But if you want your beneficiary to get the same property tax rate that you're paying, then they have to move into... This has to be property that you're living in. They have to inherit it and then they have to move into it within one year. And if they do, then they'll be able to keep your property tax rate. If they ever move out, then the property tax will go up even if they remain the owner. So that's what new Prop 19 did. Thank you. Here's another. What should I do if the lawyer who did the living trust discontinued his firm? Do I need to renew the trust? You don't need to renew the trust. The trust should be independent of who drafted it. So as long as where you want your stuff to go is still the same as it was when the trust was drafted, you shouldn't have to make any changes. You shouldn't have to worry about it. If you do need to make changes, then you should look for another lawyer who can do that for you because the first lawyer is not around to do that. But you don't have to redo the whole trust. Thank you. Here's another. Do you need an attorney to write a will? You need an attorney to write a will. You do not need an attorney to write a will. In fact, in California, the legislature has created estate planning forms that you can use for free and write it yourself. If you go to my website, down to earthlawyer.com, you'll see three free estate planning documents from the California legislature. One is called the California statutory will. One is called California statutory power of attorney and one is called California statutory advanced healthcare directive. You should have all of those. The two powers of attorney should be notarized. The will does not get notarized, but you need to disinterested witnesses, disinterested meaning somebody who's not named in the will. And you should be able to fill those out yourself. That's how they were designed. Okay. Yeah. Okay. Any other questions? Thank you, Kirstie. Yeah, there's a lot more. I was answering a question that bumped me all the way to the bottom and where we were. I can read it. Go ahead. Okay. So can you avoid probate by having your property a transfer on death on the deed? You can avoid having real estate, one piece of real estate as the law now reads, one piece of residential real estate, avoid probate by having a special thing called a transfer on death deed. But no regular deeds do not allow you to put a beneficiary's name. Okay. Next question. Thanks, Stu. Can you avoid probate by having your property TID on the deed? It's called TOD. And if it's on the normal deed, the answer is no. The answer is no. You'll have to have a special deed called a transfer on death deed. Thank you, Stu. The next question. It's the only way to avoid probate to form a trust. No. Costco sells NoloPress, Quicken, E-Wil, and Trustmaker. Is that any good? There were some. Well, first of all, that's not the only way. Another way, if you have less than, if you have only one piece of real estate or fewer, then anything that's got your name on it in terms of changing title, if you can name a beneficiary on that, you can avoid probate that way by keeping all the things that do not have a beneficiary under a value of $166,000. If you can't do that, then a trust is the best way. You don't have to go to a lawyer for that. There are a lot of other sources. NoloPress is usually pretty good. I'm not familiar with that particular book, but they usually do really good things. I know a lot of lawyers who use NoloPress books in their practices. There's also like SusieOrmond.com and LegalZoom and other places. I'm not thrilled with their trusts, but for simple situations, they can work just fine. Thanks. The next question, I think you already answered this in your talk, will financial assets still go to probate if there are beneficiary designations on the accounts? Yeah, no, they will go directly to beneficiary. Doesn't matter what your will says, they will not go through probate. Thank you. Next question is, what is the cost of creating a trust? Well, that depends on a lot of factors. There are some lawyers you can get standard kind of off the rack trusts for as little as $1,000. Some standard fees are as high as $5,000 or $6,000. Depends on the lawyer in part. Depends on how much tailoring you need for yourself. It depends on a lot of things. If you want to get a trust and you're happy with, say, a top you would buy at Sears, then getting a $1,000 trust might be okay. If you like to get something at, say, Bloomingdale's because it's a little more your style, then you might want to pay more for a trust that would be that where a lawyer might spend a little more time and tailor it a little more to your specific circumstance. Thank you. Next question is, if you do pay a debt, if you do a pay on debt, is the bank obligated to notify the beneficiary that the account exists? You know, I guess they're talking about a mortgage on the property. And what, probably not. What happens is that when somebody passes away, they should have their important papers together so that they can be found and bank loan documents should be among those so that someone who inherits property can keep making those payments. Now, technically under most mortgages, the bank will have the right to call the loan and make you refinance. But most of the time, if you just keep making the payments, they won't bother to do that, but they will probably be notified, the bank will, but they don't have an obligation to notify the heirs because they don't know who the heirs are. But with a TODD, what the heir has to do is file a recorded document called Notice of Death and attach a certified copy of the death certificate and that's how the property goes to the next person in line without probate. I hope that I've made that clear. It's a little bit confusing situation. Okay, so we've got about 20 more questions, Stu. What do you want to do? Do you want me to, do you feel like you would want to answer them in an email? You have to wrap this up. Well, can we save until next time? Whatever you want to do. Yeah, I'd love to answer, but I just don't really have the time to do that at the moment. Okay, all right. Unfortunately, we're going to have to say goodbye to all of you. Thank you for coming. And hopefully if you have questions, not quite sure how we can, we can't answer a legal question. Well, send me an email if you want to and if I have a chance, I will get back to you. All right, well, thank you so much for another great presentation, Stuart Brownstein. We really appreciate your time and expertise and we'll see all of you at the next program. Bye-bye. Thanks a lot, Leah. Bye. Bye.


Hi everyone. Happy Tuesday. Coming at you with a hanger box 2019 2020 Panini Chronicles basketball where we're giving away a $3,700 eminent spot. It's gonna be nice. So what we're gonna do is we're gonna do the break first We'll make you sweat it out a little bit And at the end we'll re-randomize your names with a different dice roll and see who wins that spot Big thanks everyone here for getting into it. Thanks to the teams, too Let's roll it. Let's randomize it two and a five seven times for names and teams one two three Four in the seventh and final time. We got Christopher down to Brian two and a five seven times for The teams two and seven I think it could be some cool things in this break too. Detroit down to okc. All right, there's the first half of the list right here There's the second half of the list right there Gretchen Pelicans Danny Grizzlies Sort by column B No trade windows in these little side breaks Little mini mini breaks here for the big breaks. There's the final print out And best of luck. There's a Zion right out of the gate LeBron Okay, Barrett playing playing having a good season So it's Kendrick Nunn got a lot of different players here more RJ Barrett's More LeBron's Second-year Luca Dongech and we got a autograph Bobon Marjanovic we do nice Flux auto Bobon one of the one of the most beloved players And the NBA teammates of this guy fan favorite dallas dany Tybalm Hunter Langford And a nice green Kobe white at the end. There you go. We'll sleeve and top load all these up In a moment that Zion was pretty nice for Gretchen that threads design Nice and we'll take care of all these two now. Let's see who gets that eminence spot Chris Gerard all the way down to brian frank and everyone in between good luck Let's roll it Let's rando it Name on top after five two and a three one Two 29 sad spots here None more sadder than spot two who just misses that eminence spot Kobe chan sorry But a big congrats to and listen, I appreciate everybody giving this a shot You know, I know it's not only one winner. So but there's another one if you want to try again Big congrats to Gretchen. There you go Gretchen with the spot after five times congrats to you We'll see you later for that eminence break jaspierscasebreaks.com


Roberto Batista Agu versus Yannick Sinner is the first semi-final for the Miami Open for 2021. And it's been an interesting run to the semi-final for both players. RBA entered the tournament as the seventh seed and got a buy in the first round. His second round match was against South African Lloyd Harris, who withdrew before the match, giving RBA a walkover. His third round match against Yannick Leonard Strouff was a tight three set contest. And after losing the first set, RBA came back 4-6, 6-3, 6-2. In his fourth round, RBA took on John Isner and this match went the distance. With RBA finishing off in the tiebreak in the third set. 6-3, 4-6, 7-6. In his quarter-final, he was taking on number one seed, Daniel Medvedev. And this was by far Batista Agu's best performance of the week. Beating Medvedev in straight sets, 6-4, 6-2. The number 21 seed Yannick Sinner came into this tournament with great hope. Getting a buy in the first round. In the second round, he took on the Frenchman Gaston. Beating him in straight sets, 6-2, 6-2. His third round, he took on the number 14 seed Hashinov. And after losing the first set, had to fight for the win. Eventually prevailing 4-6, 7-6, 6-4. In his fourth round, he took on fellow young gun, Bruce Saveri. And was very impressive winning in straight sets, 6-3, 6-2. In his quarter-final, he took on the number 32 seed Bublek. And again, a straight sets win, 7-6, 6-4. In his quarter-final match, Batista Agu against Medvedev hit 12 winners. And only 15 unforced errors. And converted three out of seven break points. And will have to convert more against Sinner. In Sinner's last match against Bublek, Sinner hit 36 winners. And only 30 unforced errors. Converting three out of nine break point opportunities. These two have only played the one time with Sinner winning that match. A couple of weeks ago in Dubai. And it was a three setter that went the distance. RBA has had the more impressive run to the semifinals. Beating a couple of great players. Including Daniel Medvedev, the current world number two. Yannick Sinner's had a great 2021. And with the recent win for Sinner, a couple of weeks ago in Dubai. He'll be full of confidence of beating RBA. So this is a tough one for me to pick. But I'm going to go with RBA in this one. I think he's been really impressive the last couple of weeks. And this is a title that is wide open for him to win. And his win against Medvedev, super impressive. And I think he can do the same against Sinner. Let me know down in the comments below. Who do you think is going to win this semifinal?


The past decade has seen significant advancements in wearable technology due to the development of flexible, semi-transparent, sensing electronics such as organic slash perovskite photovoltaics, organic thin film transistors, and medical sensors. Conductive polymers, CPs, of Pettit, PSS have emerged as the most promising flexible electrode materials due to their ability to function as transparent electrodes, whole transport layers, interconnectors, electroactive layers, or motion sensing conductors. Research on Pettit, PSS focuses on enhancing electrical conductivity and mechanical compliance and stability through various approaches, with cutting edge progresses in devices being highlighted. While CPs offer advantages such as flexibility in transparency, potential problems include limited electrical conductivity and durability. New perspectives are given for CP modifications and device fabrications, emphasizing the importance of developing CP films in next-generation wearable technology featuring deformable, printable, ultra-thin, and see-through characteristics. This article was authored by Shefan, Waninya, Sinhansai, and others. We are article.tv, links in the description below.


We here at All Hands Update have been working closely with NORAD to show you secret footage of the North Pole from their Santa Cams. Apparently Santa is not home at the moment, but Santa's helpers have been hard at work, tidying up his estate. The stockings are hung by the chimney with care, hoping St. Nick will soon be there. Finally home from his island vacation, Santa is ready to get to work. He's making his list and checking it twice. He's going to find out who's been naughty or nice.  From all of us here at All Hands Update, happy holidays and to all a good night.


Hey everybody, DroneTech here. About to go and have my fourth child here just a little bit, but before I go, I thought I'd do a quick unedited reaction to this insane clip that I saw from Morning Joe this morning. Don't really have time for editing so we're just gonna go off the cuff here. But real quick before we get into this, let me tell you about this free coin offer from Noble Gold. Noble Gold investments is pleased to let you know that gold is the best investment class of 2022. According to longtermtrends.net, gold has actually outperformed the S&P 500, Dow, and Bitcoin for 2022. So what are you waiting for? Open a gold or silver IRA with Noble Gold investments this month and receive a free one quarter ounce American Gold Eagle coin with every qualified IRA of $50,000. You can't go wrong with Noble Gold in their thousands of five-star reviews. So call<PHONE_NUMBER> to find out more visit noblegoldinvestments.com. And remember, there's always risk in investment and there are no guarantees of any kind. The idea that this is 1996 and we're talking about you've got mail or comp you serve is completely asinine. Isn't it time for Congress to start holding Mark Zuckerberg and Elon Musk and other owners of these corporations just to the same standard that everybody else is held to? Why? Wait, wait a minute. So what he's saying is that he wants the government, these two left-wing Democrat party, their open Democrats are calling for the government to crack down on free speech because it's free speech is an old concept from the 90s, okay? So the government's supposed to come in and crack down on these corporation owners and just be, they should just be held to the same standard as the media. Oh, really?  I don't know if they're reading notes or are just ashamed to say what they're saying because they know as they're saying that it's bullshit. You know, we carve things out for, and I would have said Jack Dorsey, and I did say that a couple of years ago. No, he didn't. It's just insanity that we're allowing these billion-dollar corporations to have an exemption that nobody else has, you know. There's no exemption. We have free speech in America. We have the Constitution and the First Amendment. That's all it is. There's no exception. The standards that these people apparently want, some sort of punishment against Twitter and Facebook because people say things they don't like on them, they are not held to that standard. We all know that. The media can say whatever they want, and it's magically never gonna be declared hate speech or dangerous. Joe, you're making a powerful case here that the law just, maybe it just is out of date. I mean, listening to you talk about the way you were thinking about it when- Well, I gotta kick that back. She just said that the First Amendment's out of date and that Joe Scarborough made a powerful case for getting rid of it. Okay, which he did not, obviously. Dollar corporations, did they have an exemption that nobody else has? You know, Joe, you're making a powerful case here. Everybody has it. The law just, maybe it just is out of date. I mean, listening to you talk about the way you were thinking about it when it was enacted is reason enough. You're right, the internet has changed, the world has changed. But this is one of those areas of American exceptionalism, too, where other democracies look at us and say, well, why can't you figure this out? And one of the reasons is, we actually have a very broad First Amendment statute. And of course, a journalist, that's a wonderful thing. The problem here is that the world has changed. And so, to your point, Joe, now you have companies that are actually not journalistic organizations that are disseminating information, some of it factual, some of it dangerous, some of it hate speech. Okay, so real quick, she says that, and I guess they're talking about 203, not necessarily the First Amendment, but they are talking about the First Amendment because she just mentioned it there. And that's the barrier to them doing what they wanna do. And she mentions the fact, the irony here that she is a journalist that they think they're journalists. They apparently see themselves as journalists, these narcissists, but that there's other people out there who aren't like us, they aren't privileged like us, and they're disseminating information and hate speech. And now she's declaring, she's labeling these things. And that's essentially all she's doing. She's saying, their speech, I don't like, we should be the judges of what should and shouldn't be out there, and the government should enforce that. Mara Gaye here has said a lot of things that I would consider hate speech that a lot of you watching right now would consider hate speech.  She said that right-wing media loves to quickly blame non-white Americans. She says these things, as a matter of fact, when, and never backs them up, I mean, you could just as easily say that they're quickly left-wing media is quick to blame white Americans, always. I mean, that's like their constant target. Mara Gaye also claimed that masking, and this is in 2022, mind you, in September of 2022, that masking remains an act of solidarity with minorities. Yes, it's not, masking is not just something you should do for science, it's an act of solidarity with minorities, meaning not, people who are not white.  What?  I think it's white people existing, white people in power as she sees it. She also once famously said that she was disturbed by dozens of American flags on Long Island, and went on to say that the American flag is a symbol of whiteness, and that Trump supporters and Republicans think that America is only for white people, which is just insane. Like, I'm a Trump's former Republican, and I don't think that. I'd like to think that I'm not alone. I would think that most people are not monsters, but this woman is a demagogue, all right? And to put the cherry on the shit Sunday here, she once claimed that Michael Bloomberg should have taken 500 million that he invested in his presidential campaign, and given one million to every American instead.  And she was rightly mocked for it. Well, what do you think she said about the mockery? She said that it was hate speech. So when this person says that mockery of her, criticism of her that was completely legitimate, is hate speech, you really should worry when her and her cohorts at MSNBC are actually pushing for the government to enforce their belief of what hate speech is against their political opponents. And they essentially have no responsibility for the consequences of that. So we have this central tension, and it's easy to get wonky. We all know what section 230 is here at the table, but for the Americans sitting at home, the question is, well, what responsibility should YouTube or Google or Facebook have if they're promoting hate speech on their platform?   They brought Malcolm Nance on there once to Joy Reid's show, where he said that your Republican neighbors want to kill you. I mean, that's the kind of stuff they say on MSNBC. I would consider that hate speech. What repercussions have they faced? They faced none, and they would never face any if their tyrannical authoritarian version of freedom of speech were enforced by the government, which we better hope it never does, but it's very concerning that these things are being said by a woman who clearly has mental problems and it's just being put out there, like matter of fact, nonchalantly, should be frightening. I think the average American would say they should have some, but legally, that's a harder case to make. And I don't have any answer for it, but it's just to say that I don't think we can allow it to go on as it has, where there's no consequences and people can make money, in fact, to your point. That's what, I mean, this is what's so crazy about these people. She thinks that they should not allow you to say what you want on these platforms, okay? And I don't think that anybody should go on and threaten and incite violence against people. I think that's the line. And I think certain kinds of so-called hate speech, you know, if you're inciting violence against a group of people openly, that's wrong. But like the Supreme Court's already ruled on hate speech. So it is just wild how they think it's different when they do it, because they are guilty of everything she's saying right now and they make money off of it too, guys. While disseminating this information that is tearing the country apart and by the way, providing disinformation and in some cases has made us very endangered, like with January 6th. So there's real consequences to this and I hope the court realizes that. Unreal, oh yeah, and by the way, I got this clip from Newsbusters. Great website, check it out. But unbelievable, everything she's saying there and it's just like Nina Jankiewicz. These people are all left-wing, they all do all the things that they're accusing their opponents of doing as a justification to silence them and make no mistake. They are working towards this goal of one-party rule, probably CCP style, authoritarian rule with an opposition that has been basically criminalized. All right, folks, thanks a lot, wish me luck. I'm heading to the hospital in a couple of hours and hopefully by tomorrow morning, I will be a father of four kids. So wish me luck and I'll see you all in the next video.


What's up everybody, Jason here for jatsbyskagebraze.com. We're giving away four football hip-pack spots away with this 2021 Panini Chronicles football, one fat-pack break, random team number 17. So first guys, we'll do the break, we'll randomize the customer names, teams will strip the hits out of the fat-pack here, little value pack. Then at the end, we will gather up all the names, re-randomize them in a separate dice roll to top four, get into the hip-pack break. Now again, dice roll here, we're gonna randomize the customer names, we only sold 24 spots, we're gonna give away six free to customers that bought in tonight. And here's the dice roll, let's roll. Five out of two, seven times, good luck. Top six, get free extra spots in here. And then we'll use the same dice roller for the names of teams. One, two, three, four, five. And it was a seven, six, seven. Eric, Eric, Craig, John, Jason and Tim. Free extra spots in here, but guys, one, two, three, four, five, six. And I meant to say we sold 26, I think this is a 32 spot break, so technically 26 spots. All right, now let's copy and paste this for later, and we'll use this same list here for the giveaway later. All right guys, so again, this is a seven times, now the names and teams of the pack break, one, two, three, four, five, six, seven. Seven times, Michael P, Don and Nancy. Seven times, one, two, three, four, five, six, seven. Using Texans out of the Miami Dolphins.  I mean, some stuff can come out really nice, but not likely though. Do the fat pack really quick.  All right guys, now let's do the free for hip pack spots giveaway. Roll it, it is a two and a four for six times now. Top four, get a hip pack spot. Six times, one, two, three, four, five. Boom, six times, Ken just missing on, man, sorry. But Tim, you are in, Jacob's in, Nick Cole's in, and John from a free spot is in. Look at that, top four.  So you guys are in now, into the hip packs. Yeah, we did have to do two more fillers plus the straight up spots, but again, we're inching away closer guys. So appreciate it guys, jaskiescasewakes.com.


monorail to the pharmacy today. Oh, I need you guys to come in and chat with me. I need you to bring your cool vibes.  I'm gonna go get my wedding rings and I'll be right back. All right, now we're set. Say hi, guys. Hello, kitty. Hi, Becky. You got your water, good job. Hi, Rosie. I should have made it darker in here. I always wash myself out. And I need you guys to bring calming thoughts. We're gonna see for starters. I went and I got my ring, put my stone put back in. Hi, Kisha. I haven't seen you in forever. How are you? How are you doing? Type in here. Let me know. Everybody let me know how you're doing. Thank you, Becky. Just put some stuff on and I'm on here because I need your guys's positive mojo. Okay, first of all, let's see if my wedding ring fits. It's tight and I don't like my rings tight so I'm not gonna put it on yet. You guys like that? Do you like having your ring?  And I don't know how she does it. Hi, Rosie. How's everybody doing? Today is Friday. I wanted to come in. I want to talk about a couple things and my water. Pull in my straw somewhere.  Oh, there it is. It's a crack. I need to get a new straw. How'd you guys do this week? Marilyn, did I say hello? Hanging in there? You know, the minute I get down here, I can hear Steve pulling in. Last week of the semester, how are you? It's good to see you too. Um, Steve and I are going, Steve and I are going to get our vaccines. And before everybody goes, yay, hooray. Those of you that hang out on a regular basis, no, I have an acute fear of it.  Becky says, doing good, got out of the house for a bit today, had a pedicure game 2.4 this week. But you know what? Those two things outweigh the one thing. You know what I'm saying? Getting out of the house, the pedicure that's so healthy, it overrides the game. I hear it be so. Because Becky, my big thing is getting out of the house too. I've just got to get, I gotta get out of my bed. I'm never moving. Hi, Janet. So that's so gross, huh? That you guys have to look at that straw with my lipstick on it. Vating, doing WWE purple. I've been off track for a while. You know what, Rosie? I love purple when I do it. If I get all the things I need on hand, it's really a great program, especially if you like pasta, you get whole wheat pasta. See, I don't, I can't tell the difference. Oh, I like this shirt this first time I put it on. Taking a shower is like, I should be rewarded for it, but I have to get dressed today because I can't go to the pharmacy and my pajamas, well, I could, but I'm not going to. But, so that's what we're doing. Right now here, it is six minutes to one. Our appointment's at two. Becky, it's just Steve and I too, so if I wanna stay in my pajamas, I can. Okay, so as far as weigh in, I did not go to my meeting. Like I said, I was gonna do because this morning, I was having nightmares and because I knew when I woke up, sometime today I was gonna go, hi Andrea, have to get my vaccine and my stomach's been churning and I knew I wouldn't be able to focus. Oh, there he is. Bar he blows. I know Rosie, but it's just, it's, I don't know, it's, I don't know if, you know, there's the definite possibilities that I'll get in there and say, no, I'm not doing it. That definitely, there's a positive, say hi, come over here and say hi. Becky, I like have an extreme fear of needles. I haven't had an injection of any sort since I was in the early 90s when I had a hysterectomy. Janet says hello, honey. Becky says hello. All the girls say hello. Lori says hello. Keisha says hello. Hi. Just some traumatic experiences I had as a kid and I'm like, I'm literally sitting here like this right now. So I think what I'm gonna do is I'm gonna, I don't know, I'm gonna have to take some medication before I go. You taking her out? Yeah.  It will go on, but.  I know, it's just, it's just, even, you know, they put them on the commercials and just thinking about it, not even seeing. I'm not gonna look, but my fear is so extreme. It's so extreme. So yeah, okay, so anyways, let's get off of that subject and weigh in today. I did not go to my meeting, like I said. Got on my scale and I stayed the same, which is not good because I thought I did pretty good this week, but it's okay, it's, I shouldn't have talked about it because now I'm all worked up. It's okay. I have some clothes that fit it, as long as I haven't closed it. I figured out what was making me the most tense about gaining the weight and not going anywhere. They didn't have anything to wear. Nothing. Oh, there's 16 of you guys in here.  So I may go to a meeting tomorrow. We'll see. We'll see how I'm feeling weight-wise. We'll see if we go out to dinner tonight. It's Friday, I don't know if we're going to or not. We probably are, and like that. So I told you guys I would check in and let you know, and that's my checking in and sure as Shinola, after last week's video, the person in which I spoke of, hi, Susan, sure enough, surfaced. She didn't surface on my video. She didn't type anything in, but she surfaced nonetheless, causing me a couple days of grief. So what to do about that?  Or do I let her, hi, Christine, do I let her ruin all my fun and hanging out with you swells? That's just ridiculous, because it doesn't involve just me, bing.  She is, I want her to talk to you guys. She's been talking to, give me just a second. Patty, I'm on live right now. See if you can hop on here. It is one o'clock my time. They're talking about their center is going down where she is, I think, I don't want to say, because I get all my states mixed up where you guys are, but we're up and thriving. All of ours are running. They're sending out massive emails. In fact, I should have gone today because the thing in the video is, if the people keep going to the meetings, the meetings will stay alive. It's when people start not going, then those are the meetings that they closed down. Marilyn, I'm so sorry.  Okay, Rosie, you're hitting the books, girl. Keisha, your center closed too? I know, they're not for me either. I'm gonna really, really put my energy out there that after all of this, it will resume because people are gonna be getting out again. Mine never opened back up. It's a great clips. Oh no, Janet, that stinks. You guys don't think that when this is all over that people, once everybody starts getting out again and gets comfortable and going into public and everything, they're gonna be like, come on, WW, we need you. We sat at home this whole year and we gained all this weight. Now we have to get it off. Marilyn says, email said may reopen in another location but remains to be seen. Yes, you will stay online but want a dollar reduction. Yeah. You know what's weird is I pay through iTunes. I pay $25 through iTunes and I can go to meetings. So I don't know how that even happened to be honest with you. So I haven't eaten anything today except for yogurt. I probably should eat something so that if I get nauseous in my throat, I have something to throw. Ha, ha, ha, ha, ha, ha. Hi, Jan. I was thinking about you the other day. I found something in my drawer of drawers. I found a letter. So glad to see you. So that's about it. That's all she wrote. I know Marilyn, so was I. And then I kicked out. Why did I kick out? I don't remember why but then somehow, again, I don't even know how I did it. I went in through my phone to do it and I went through iTunes and that's what I'm paying. It was really weird. I didn't plan it. I didn't ask for it. It just, that's just how it came up. That came up to how I was being billed. So that's why I keep it. Lots of folks are like I'm going over here and I'm going over there and it's cheaper but this is cheap enough for me because I have to have it. I have to have it. It's just, I don't know what I would do without it. Yeah, I did I track bites one time and I calculated a few things and everything was off. So I said forget it and I just went back to WW. I'm just going to stay with Weight Watchers is my thing. It's what I know, it's what I love and I'm just not a big switcher around her. Excuse me, I don't think so. I'll switch from green to purple from time to time. Not often though, I'm just stay on my green and do my thing to her settings and change her membership to online. Yeah, that's great. Keisha, that's a great price. I think it's worth that, don't you? To be able to track and know, especially for me, the restaurants. Yeah, who knows? But it's worth checking out for some of you guys who have iTunes. It's just, it's nice to know that it's there and I track everything, you guys know that. I understand Becky, I totally understand. Completely understand. Yeah, Janet, it was like, it was like, I don't know, I have really weird thoughts and opinions on things that aren't popular with other people, so I balk at saying them. I think it's blatantly kind of copying WW, and so I don't really support that. If I invented WW and somebody else came out with an app that was exactly like it, only they called it bites instead of points, I'd be at a best stop. But I totally understand as far as monetarily. Ma, I need the meetings. My husband and I have not gone since all this happened and we have really been slacking, I've been eating all of the emotions. You're not alone, darling. Have your meetings opened back up? I feel bad for not going this morning, but I just wasn't in the headspace.  I got my camera together. I got my tripod working. I got it all hooked up. I've got some stuff filmed. Oh, I get it, Brenda. I totally get it. I'm just saying for me and I am able to do it and it's my one splurge really, besides when we head down to the park. Yeah, it's Steve Golfs, I do white watchers. You know what I mean? So it's okay. I'm not putting down anybody who does the other programs. I'm just saying for me, I like to stick with what I know. But do all the chairs really fill up? I mean, is that really a concern? All our chairs have never filled up. Oh, but now it's, keep forgetting you have to make reservations, right? Oh, man, that would be a quandary. What could be done about that? Could you check in with your leader and see how many, if the whole class filled up like last week and what their thoughts would be on it, get their opinion on it? I can't remember how old they are. So I don't know if the six feet apart thing would affect you guys either. I know they're young, but I can't remember exactly. See, because I always, I keep forgetting. Oh, is there Jessica? We'll ask my leader too, because I talk to her on Instagram and stuff. I'll get her opinion, but considering their ages, I don't know how you feel if they take their little iPads or whatnot and they sit and they play on their thangs. If it would, they have lipstick on my teeth now, but I chip my tooth, look at that. Yeah, I would definitely ask. Just get a feel for it. Say, hey, you know what? My husband and I really want to come, but we got the kidlets. What's your opinion? You know what? I wonder if there's another, no, it'd be too late today. I'll go tomorrow, maybe. We'll see. I gotta get my poop in a group. Plus, people don't show up that reserve. This chick today, where I think it was swinging by next Saturday and see how it looks. There you go. And yeah, just go in, get on the skill, look around, see, you know, see what's going on, and maybe it'll work out. Maybe you never know. Go in and check it out. Can you guys hear me playing with my rings? I'm sorry, I'm nervous. I'm so nervous. I think that's a really good idea. I know and see. That's another thing I feel bad about. She texted me this morning, my leader. She's like, can't wait to see you. And I'm like, I'd like to see me because I'm not coming. Oh, Brenda, I'm not any kind leader. Sandy's on point. Focused. I track everything. I'm working on drinking more of my water. I've got to walk more. And when I do indulge in my little glasses of adult beverage, I've been sneaking graham crackers. Last night I went to town on some graham crackers. They are the devil. I need them out of the house. Post-the-ladies are so nice and amazing. I'm hoping we can work something out. My husband and I discussed it and we really want to go back. Good. So that's half the battle right there. You're already on track by talking about it, you know, getting the wheels kind of start slow and you're talking about it. We want to go. We need to catch up. Let's talk to the ladies, all right? Let's go, let's go. That's part of the battle right there. Ha, ha, ha, scary thoughts. There's a lot of scary stuff going on up here. So yeah, I think that's great. I bought some because of a recipe that I was gonna film and I never made the recipe. Now I tracked them, but they are one of those foods that when I eat, I won't gain. Tracked or not. Because not all points are created equal. You're gonna eat at 10 points worth of cabbage, 10 points worth of Snickers.  Hey, Jessica, that's good to know. Did you guys read what Jessica says in some studios, only one spouse needs to reserve because you sit together. That's super cool. Thanks for letting us know that. That could come in super, maybe then the four of them could sit together since their own family pod. Hey, look at that. That's a great idea.  It only makes sense. It took us way too long to get there. Ha, ha, ha, it took us way too long to get there. That's it. I don't know how much time do I have. I feel like I'm going to the Gia team or to the, where they hang in. See, you have everything going for you. I guarantee you next time I talk to you, if I see you during the wake, I'll see you during the wake, but I guarantee if I talk to you next weekend, you'll either have a plan to go or you will have gone. You've got it all going for you. Oh, nothing, Brenda, I shouldn't have brought it up. I'm just nervous about something and that's why I came on here to talk to you guys. Even though I don't want to talk about what I'm nervous about, I wanted to get on here and talk because Steve wasn't home yet and I was starting to get squirrely. Ha, ha, ha, ha, I'm very squirrely. I think I need to go take some medication and wash it down with something and then roll myself in there. I know, Jessica, but I've gained so much. I was watching last week's video because I had to re-watch it because of the whole stalker incident to re-hear exactly what I said and I was looking at my face and I was like, holy, but you know what? My friend Amanda, Twitter-pated mama, we talk. She's like, me, that's just a number and I wish I could think that way, but I just, you raised 30s, yeah. I don't like the way I feel. I don't like the way I look. It's hard going up and down the stairs. You know what, Rosie? You guys could throw up and nobody take any offense to this. Nobody, because you know, I love each and every one of you. Nobody take offense to this. But there's nothing, there's absolutely nothing anybody can say that's gonna calm me down. Nothing.  It's an acute fear to thank you that I've lived with for 59 years, I'm happy, 60. It's just, I just needed to go really, really fast. Yeah, you know, it's, they are hard and this is mine. This is mine. This would be like if somebody, like I said in my last video, if somebody were afraid to fly, I'm not afraid to fly. I'll get on any plane going or any man of time. If somebody is like, I'm really afraid to fly. When I know there's no fear in flying, you guys, there's no fear in what I'm gonna do.  Oh, you're like this just over that and I snapped back, man. And I never do that. It's just like people have different phobias and this is mine and it's true and it's real. I have literally, it's so bad, literally thought of just not ever leaving my house again instead of doing it. I wish I could get gas. Where'd you go? I still wanna be in the water at all and I know how to, and you do know how to swim. We'll get in the water along the shore but not in a boat. Interesting, but it's your fear and it's your phobia and there's no way anybody else can dismiss it, right? Which is a drag because boats are a blast but I can't go in a boat really fast. That's my story for today. Nothing else to tell you guys, I just wanted to get you caught up on what was going on. Refueling is valid whether we can relate to it or not but I think it is a natural for others here to try to ease your mind. Oh, and I appreciate it and I stutter when I get nervous. I appreciate it and I agree with you. That's why I just put out a blanket statement that as much as you care and every idea that's put out there frozen, I'm just like frozen with fear right now. So with that I'm gonna go and I'm gonna find some medication and try to calm myself down a little bit. What time is it? 45 minutes. So thank you guys and I do appreciate it and I know you guys know where I'm coming from. Thank you, Becky. Thank you, Janet. Are we gonna go out to dinner tonight, honey? Thanks, Keisha. Keisha, it's so nice to see you. I saw you on an old video the other day and I was like, where is that girl? All right, you guys. Hi, Kristen. I was just shining off. I was reading Shini Bop and said shining. We'll feel fine tonight. If anything, it's tomorrow we're not gonna feel good which I don't even care about that part. That part I don't even care about at all. Nothing, you know what? Nothing, Kristen, all I did was come in and say that I am the same today as I was last week. Last week I said I was gonna go to my meeting. I did not go to my meeting. It's still an option though. Still an option Jessica. And that's it. I just wanted to come in and say hi and talk because I'm a little nervous about some stuff and that's what I, when I call, when I, Dr. Bombay, you guys. So all right, I'm gonna go do what I gotta do and I'll catch you, swells later and thank you. And I'll catch you guys later. Maybe I'll come on later. I don't know. You know what? Check around. Thank you, Becky. Thank you so, so, so much. About four o'clock, five o'clock my time. Oh, thank you. This is, this ring actually is for this finger but since I came to it, kept it on my wedding ring. I have it on that finger. But I wanna put this one on since it got all cleaned up and beautified. Isn't it so beautiful? I gotta cover my face. Yeah, Rosie, I think that's what I'm gonna do. Everybody grab a glass of wine or something out. Hopefully I won't be stuttering or crying. I'll see you guys later.


If you walk into a tropical forest, you will essentially miss 90% of the animals that are there. They hear things and smell things way before any of us can. They're aware of us much more than we are of them. This is the biggest animal in the world. It's the biggest animal in the world. It's like a snake for the camera. With camera traps and other passive sensors, we now have technologies that collect information no matter what. You can put them in a very large area and then they will snap a picture of an animal going by. And the amount of information that you can get from them is incredible. The report that came out from the Biodiversity Convention's scientific body was the first official UN report on the state of biological diversity of the planet. And of course it's not surprising that it's very alarming. You know, there have been five times in the history of life on Earth when there have been mass extinctions. The premise of that UN report is that we are on the very verge of a six-extinction. Some of the things going on right now are exactly the preludes that will lead to such a calamitous loss of biological diversity, maybe 10 to 20 percent of all life on Earth. And it's time for us to wake up and do something about it. When threads like deforestation are accelerating and evolving quickly, we just don't have enough time to wait for data to come in. In one place that we were set in camera traps, we left the cameras for one month and we get almost 150,000 pictures. And this is like the bottleneck that we have. We improved the system to collect the data, but we are quite slow in processing and analyzing this information. The second barrier that we identify with camera trap data is that the data is siloed.  Wildlife Insights is a response to these barriers. Wildlife Insights is a cloud-based AI-enabled platform that allows many different organizations to upload, store, manage, and share their data and derive meaningful insights from that data. The hope is that it's going to drastically speed the process of getting the data from in the field on the camera to up in the Google Cloud and open for analysis and mapping. The first priority for the AI models is being able to distinguish if there is an animal in an image or if there's just a blank background with no animal in it. The second task is to do species classification and allow a researcher to filter through millions and millions of images and say, show me all the, you know, greater bamboo lemurs or whatever species of their interest. If we have good data about what's happening to wildlife, this will provide a guide for policy makers. It's basically illuminating the path. I think we're just at the beginning of being able to understand how we can use this very powerful tool, the ability to have our finger on the pulse of these wild places and then make sure that we have the ability to translate that very quickly into advances in conservation and for a more sustainable future. That's where we want to go. If we build wildlife insights and becomes a huge collection of camera trap data that never gets used for anything, we had utterly failed. Change is what we're after.


Man, look at the detail on that. So I just got a new 3D printer and I did a test print of a ring. This is an Adventure Builder ring. It's got all the Adventure Builder virtues in it. This is pretty small. You can see how big my thumb is compared to it. This wouldn't fit on any of my fingers. It's awesome. I wanted to give the 3D printer something kind of difficult. Man, I am so impressed with the detail it got in there. Man, that is really good. Yeah, I just printed it on one of these guys right here. The Sovol SV6. So impressed with this thing. Ooh, it does fit on one of my fingers. Nice.  I think I need to dirty this thing up a little to get the symbols to show. Maybe I'll paint it and then scrape the paint off the surface. Ooh, that would look nice.


I am Ganesh Biyagalai working as an assistant professor in Department of Mechanical Engineering Vulture Institute of Technology. In this lecture of heat exchangers we will study LMTD approach of heat exchanger analysis learning outcome. At the end of this session students will be able to describe overall heat transfer coefficient and select heat exchanger by using analysis LMTD or and NTU approach. Here before starting we must know log mean temperature difference can be denoted by capital letters LMTD. To use the LMTD we must know all inlet and outlet temperatures must be known to us then and then only we can adopt the LMTD approach. There is one concept known as overall heat transfer coefficient and it is usually denoted by capital U. Here the example is taken in which this is the inner tube and this is the outer tube means this becomes concentric tube heat exchanger. Now the transfer of heat through the inner tube takes place by means of convection conduction and convection to the annular fluid. This is the enlarged view of this section. So this is the inner surface of the inner tube outer surface of the inner tube and the heat transfer will flow from hot fluid to the cold fluid. Suppose T i is the inlet fluid temperature of hot fluid, T o is the outlet temperature of the cold fluid then first resistance will be convective resistance, second resistance will be conductive resistance of the wall and this will be the convective resistance on the outer surface.  H i represents inside overall heat transfer sorry inside heat transfer coefficient and H o outside heat transfer coefficient. Now rate of heat flow is nothing but temperature difference to the total thermal resistance. Now how much is the rate of heat transfer q and resistances are 1 2 3 means convection conductive and convective resistances. So those resistances are 1 by H into A based on inner side plus delta x is the thickness of the wall or tube by K a plus 1 by H into A of convective resistance on outer side. Usually q can be written as UA delta T overall.  So nothing but this is the overall resistance or total resistance. So overall heat transfer coefficient is the reciprocal of total resistance. Here we have the typical values of overall heat transfer coefficient for the fluid combination water to water 850 to 1700 for water to oil 110 to 350. So in this fashion we have the readymade chart of the typical values of overall heat transfer coefficient. Now with this we will start the analysis of heat exchanger. In this analysis there are two methods first method is LMTD method, second method is NTU method. Initially we will go to the LMTD method. Now in the analysis the rate of heat lost by hot fluid you think over it whether it will be equal to cold fluid or we will have some difference think over this obviously the total rate of heat transfer from hot fluid to cold fluid will be same. The heat rejected by hot fluid mcp delta T will be equal to cold fluid heat gain mcp delta T. Now we will adopt LMTD approach for parallel flow heat exchanger. Here this is the hot fluid, this is the cold fluid, hot fluid inlet temperature, hot fluid outlet temperature, cold fluid inlet temperature, cold fluid outlet temperature. The type of the flow is parallel flow and this is the temperature profile for hot fluid and cold fluid. So let delta T represents the inlet fluid temperature difference delta Te exit temperature difference. We can write the equation dq is equal to u area is b into dx and hot fluid temperature minus cold fluid temperature. Rate of heat transfer is mcp delta T which type of the heat transfer process is taking place here is it the sensible heat or latent heat yes it is a sensible heat. So only one relation will be used that is mcp delta T. Now why minus sign is there for the hot fluid because the slope is negative. So now delta T as we have seen Th minus Tc if I differentiate this equation I can write d delta T is equal to d Th minus d Tc. Since dT by delta T is equal to minus 1 by mh into cph plus m by mccpc. So this is the heat flow rate of the hot fluid, heat flow rate of the cold fluid into eub. Now I can cover the total area total surface of the heat exchanger by taking integration that is delta i to delta e similarly here taking integration 0 to l of dx. Then I can write the equation ln del T by del T is equal to minus 1 by mhcph plus 1 by mccpc into ua. So this equation in this equation delta Te is equal to delta Th e minus Tc and delta Ti is equal to Thi minus Tci. Then Q is the total rate of heat transfer in the heat exchanger then I can have the rate of heat transfer same for the cold fluid and hot fluid then 1 by mc can be replaced by 1 by Q this temperature difference for hot fluid similarly I can take it for cold fluid. Then I can write Q is equal to ua this is delta Ti minus delta Te as we have seen delta Ti means inlet temperatures or difference of those fluids that is Thi minus Tci and delta Te is means Th e minus Tce. So I can obtain the equation of rate of heat transfer equal to ua delta Ti minus delta Te divided by ln delta Ti by delta Te. Now here if I will consider this ratio which is which has the log which has the log this log that is why I can use the notation either delta Tm means log mean temperature difference or Elm Td. So for parallel flow heat exchangers the log mean temperature difference is the temperature difference of the fluid set inlet minus temperature difference of the fluid set outlet to the log of delta Ti to delta Te. For further study you can refer fundamentals of heat and mass transfer by Incropera David. Thank you.