@originaldohnthornton: Most people lose thousands every year for one simple reason: They’re spending money personally instead of through the trust. Private school. Sports. Travel. Vehicles. Wellness expenses. And virtually all expenses for their children. Families are already spending huge money in these categories every year… but they’re doing it with fully taxed dollars. That’s backwards. A contract law spendthrift trust changes the structure completely. Move the money into the trust first. Now those beneficiary-related and trust-related expenses become trust expenses that are tax deductible to the trust… while the income flowing through the trust does not create taxable events. That’s how people can potentially save thousands — sometimes far more than $10,000 — every single year. Plus, the trust provides powerful lawsuit protection and far greater privacy because it is not publicly registered with the state. (Info purposes only; not a licensed tax, legal, or accounting professional) #taxdeductions #taxreduction #taxsavings
