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But what about it a Trust is depressing exactly? It's just a legal agreement for how wealth can be spent.
by tylersmith 3y ago
But what about it a Trust is depressing exactly? It's just a legal agreement for how wealth can be spent.
- yboris 3y ago0 taxation on assets or income and it's available to people living outside of the state. So rich people can avoid paying taxes.
- lotsofpulp 3y agoIt’s for avoiding federal taxes. The federal government can fix the situation anytime it wants, and it won’t matter where in the US people live.
- SoftTalker 3y agoSpecifically for avoiding tranfer/inheritance taxes. Any money actually paid out of the trust to a beneficiary is subject to that individuals federal income taxes.
- verall 3y ago> [A functioning federal government could] fix the situation anytime it wants
- callalex 3y agoMoney is a social construct, and it seems you are starting from the base assumption that wealth can be transferred infinitely and unrestricted between generations. Not everyone holds that view of money.
- adolph 3y agoIsn't that the idea behind a nation or any other governance structure? The wealth built within the entity can be transferred infinitely and unrestricted between generations? What's the difference if the structure is a government, religion, guild, corporation, cartel, mafia, family or Mars colony?
- qeternity 3y ago> Money is a social construct Money and wealth, though often used interchangeably, are very different things. Money is one form of wealth. So whilst you are correct, it’s not the point you’re trying to make. Wealth is absolutely not a social construct and never has been.
- yunohn 3y agoI’m not sure you actually read up about South Dakota Dynasty trusts nor the general context from these comments/post. Instead, you appear to be asking a “simplistic” question feigning ignorance, rather than a serious attempt at understanding the problem.