@originaldohnthornton: A lot of people hear the words “irrevocable trust” and think all trusts work the same way. They don’t. Most statutory law irrevocable trusts come with huge problems: You usually lose control. You’re often just the beneficiary. Someone else controls the assets. And changing the trust later? Usually a nightmare. Adding assets. Removing assets. Changing beneficiaries. Many statutory law irrevocable trusts are rigid and difficult to modify once they’re established. Plus, they’re still tied into the statutory law system with filings, visibility, and taxable events. A contract law spendthrift trust operates completely differently. You operate as trustee with control over the trust. You can add and remove beneficiaries at your discretion. Add and remove assets. Adjust the structure as life changes. Meanwhile, the trust provides powerful lawsuit protection, far greater privacy because it is not publicly registered with the state, and no taxable events. Same concept of an “irrevocable trust.” Completely different level of flexibility and protection (info purposes only; not a licensed tax, legal, or accounting professional) #taxdeductions #taxreduction #taxsavings

originaldohnthornton

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Wednesday 23 September 2026 21:00:00 GMT