If you’ve ever wondered how the spendthrift trust can help medical doctors generate massive legal tax reduction in their practices, you’ve come to the right place, although the answers may not be what you’re expecting. In this episode, I walk you through, step-by-step, how to set up the trust infrastructure and the strategies that produce these incredible savings. Enjoy!

If you think you’re paying too much in taxes and/or you need to lock down your personal and business assets with 100% lawsuit-proof asset protection, visit Calendly link below and schedule a free one-on-one consultation with me.

www.calendly.com/dohnthornton/30min

If you want to get some more information about this amazing tax reduction and asset protection strategy, go to this website:

I’m Dohn Thornton. I’m a Senior Trust Specialist. I’ve been an ultra-successful real estate investor in Florida since 2003. I’ve dominated the short sale market in Florida for almost 20 years. I decided that I was paying WAY too much money in taxes all these years and, luckily, I found out about this incredible strategy that helps me legally reduce my taxes to almost ZERO, while getting 100% lawsuit-proof asset protection. I decided to get the word out to as many people as possible so that they can also help keep more of their hard-earned money in their pocket.

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I am not a licensed tax advisor. I do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction….(read more)

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As individuals look to secure their financial future, they may consider various investment options to build their wealth over time. Two popular choices include the spendthrift trust and the self-directed IRA. While both options have their own unique features, it’s important to understand how each of them works before making any decisions.

A spendthrift trust is a legal document allowing an individual, known as the grantor, to set up a trust. The grantor transfers assets into the trust, which is then managed by a trustee. The trustee has the responsibility to distribute funds to the beneficiary, who is named in the trust. However, the trustee has the authority to determine when and how much of the funds the beneficiary receives.

One benefit of a spendthrift trust is it protects the assets from creditors who may come after the beneficiary. If the beneficiary has debts, such as unpaid taxes or legal judgments, the spendthrift trust can keep the assets safe from being seized. This makes it an attractive option for individuals who want to leave an inheritance for their loved ones but are concerned about potential creditor claims.

On the other hand, a self-directed IRA is a retirement savings account that allows individuals to invest their money in a variety of assets, beyond the traditional stocks and bonds. Real estate, private equity, and precious metals are just a few examples of the many options available. Unlike a spendthrift trust, a self-directed IRA is focused on building retirement savings.

One advantage of a self-directed IRA is it provides the investor with more control over their investments. With a traditional IRA, the account holder typically has limited investment options. However, a self-directed IRA allows the holder to choose the type of investments they want to make. This can result in higher returns if the investments perform well.

Another benefit of a self-directed IRA is the potential for tax benefits. Contributions to a traditional IRA are tax-deductible, meaning the account holder may be able to reduce their taxable income. Additionally, any earnings made within the IRA are tax-deferred, which means the account holder won’t have to pay taxes until they withdraw the funds.

In conclusion, both the spendthrift trust and self-directed IRA have their own unique features and benefits. Before making any decisions, individuals should speak with a financial planner or attorney to understand the potential advantages and limitations of each option. Ultimately, it’s important to choose the option that aligns with their financial goals and risk tolerance.