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Old 11-26-2012, 10:52 PM   #31
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What about your cat gello ? no trust for him ?

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Old 11-26-2012, 10:55 PM   #32
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What about your cat gello ? no trust for him ?
Perhaps upon my death; then i wouldn't have to deal with all the BS for the trust. Then only because i couldn't leave my estate directly to him as a non-human.
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Old 11-26-2012, 10:58 PM   #33
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Why is everybody wanting a trust? Trusts require fairly expensive accountants' work and can be a hassle of epic proportions if they aren't well-tended and planned.
To:
-Protect your assets - so it cannot be used for things you would not want them to be, only what u choose. Can be a shelter from claims and creditors.
-Guarantee an income for your loved ones providing financial stability. Ex: You might not want your 18 year old inheriting 400 mil, so you can set it up to dispense the monies in installments.
-Helps to avoid inheritance tax - ensuring your money, shares and property are passed on in the most tax efficient way.
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Old 11-26-2012, 11:05 PM   #34
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To:
-Protect your assets - so it cannot be used for things you would not want them to be, only what u choose. Can be a shelter from claims and creditors.
-Guarantee an income for your loved ones providing financial stability. Ex: You might not want your 18 year old inheriting 400 mil, so you can set it up to dispense the monies in installments.
-Helps to avoid inheritance tax - ensuring your money, shares and property are passed on in the most tax efficient way.
#1 It can only be used for what the trustee authorizes within the bounds of the trust's written purposes.
#2 An income limited by many, many annoying rules that don't always benefit the beneficiaries.
#3 Estate tax considerations hinge on there being something left by the time i pass away; that is far from guaranteed. Further, the estate tax might get chopped away at or have its "lifetime exclusion" increased again when the republicans regain power (hopefully before i expire).

IMO, a trust is not a guarantee of a tax-free, low-hassle existance. It depends on the circumstances.
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Old 11-26-2012, 11:14 PM   #35
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Come on guys, boats, planes, islands, excess, not stinking two pages of tax law.

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Old 11-26-2012, 11:28 PM   #36
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Come on guys, boats, planes, islands, excess, not stinking two pages of tax law.
You left off tanks. You can get a nice nice tank for well under 100K

http://www.mortarinvestments.eu/products/tanks-2#currency=USD

(If I ever have the money, I will get one. )
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Old 11-26-2012, 11:28 PM   #37
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1. Pay off my debts and my Mother, Brother and Sister's debts.
2. Set up accounts for each of my great nieces and nephews for college or whatever they wanted when they turned 18.
3. Have a complete frame off rebuild of an International Travelall 4X4, it would be my SHTF vehicle (think all major parts replaced with heavy duty components).
4. Have a moderately sized home built on at least 100 acres, it would be completely off the grid with the exception of a internet connection
5. Have my knees replaced.
6. A good "Cadillac" health plan to cover me and my Mother (I'm her caretaker)
7. Buy gold, silver, ammunition and replace all the guns I had to sell to keep a roof over my head.

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Old 11-26-2012, 11:38 PM   #38
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You all can forget your dreams. They just called I am the winner.

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Old 11-26-2012, 11:40 PM   #39
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You all can forget your dreams. They just called I am the winner.
That's the Nigerian lottery. Just send them your acct info and they will make the deposit.
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Old 11-27-2012, 12:12 AM   #40
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No,No not that you mean giving them a credit card number was wrong.

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