32 SUMMERS AROUND THE SUN πΎ
I MAKE THIS SHIT LOOK GOOD EVERY TRIPπ₯ MORE LIFE! MORE BLESSINGS! MORE MONEY! LESS STRESSING! HAPPY G-DAY 2ME ! #CincoDeMoucheDay
Itβs ALOT of inconsistencies with this post .
A revocable trust donβt protect your money from lawsuits or creditors
If YOU control it (grantor + trustee = you), legally itβs still your money
Courts can still take it
And also, not to mention your checks , work etc tied to ssn
Man that Prison business shit is real. Some prisons really be tryna sue states for not having enough Prisoners⦠so you know what that ultimately means right.
Itβs ALOT of inconsistencies with this post .
A revocable trust donβt protect your money from lawsuits or creditors
If YOU control it (grantor + trustee = you), legally itβs still your money
Courts can still take it
And also, not to mention your checks , work etc tied to ssn
Whatever you do, don't open a bank account in your own name.
I didn't know this until my dad stopped me the day I got my first paycheck.
I'd done everything right. Got paid. Went to the bank, opened a savings account in my name, and deposited the whole thing.
My Boss looked at me and said, βYou just put a target on your back.β
Then I had no idea what he meant.
He explained that the moment your money sits in your name, it's exposed.
Creditors can see it. Lawyers can find it. Anybody with a judgment against you can freeze it and take it completely legally.
So here's what he told me to do:
Step 1. Go to the IRS and apply for an EIN.
A tax ID number, but for a trust instead of a person.
Step 2. Select a revocable trust as your entity type. List yourself as both the grantor and trustee. It gives you full control of everything.
Step 3.
Take that EIN to any bank and open an account under that trust name, not yours.
The money is still yours. You spend it, move it, and invest it however you want. But on paper, it's not attached to you.
If someone sues you, they can't touch what they can't see.
This is the system intelligent billionaires have always used.
Own nothing on paper, control everything in reality.