@originaldohnthornton: Most business owners think their LLC / Corporation automatically protects them.
It doesn’t.
Because statutory law entities only work if you follow ALL the compliance requirements perfectly.
Corporate minutes.
Annual meetings.
Resolutions.
Record keeping.
State filings.
Miss one thing?
Do it wrong?
Forget a requirement?
Now attorneys can argue the corporate veil should be pierced.
Which means your personal assets can suddenly become part of the lawsuit.
That’s the danger most business owners never see coming.
But a contract law spendthrift trust operates completely differently.
No corporate minutes.
No annual shareholder meetings.
No public state registration like LLCs / Corporations.
Just powerful lawsuit protection, far greater privacy, and no taxable events.
(Info purposes only; not a licensed tax, legal, or accounting professional) #taxdeductions #taxsavings #taxreduction #compliance
