Irrevocable Trusts Pay Taxes
I’ve been using trust since 1984. One of the things people ask me is if irrevocable trusts pay taxes.
The answer is…it could. Depending on what you take advantage of when you set it up.
There are some very interesting opportunities available in certain irrevocable trusts.
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Hi! My name’s Lou Brown. I’ve been using trust since 1984. And one of the things that people ask me, because I’ve got licensees of my system in all 50 States. They ask me if Irrevocable Trusts pay taxes. And the answer is maybe. And the reason I say maybe is it because if the irrevocable trust actually makes money on the assets that are in the trust, then the answer would be, yes. The Irrevocable Trust could pay taxes. Now there’s some very interesting, let’s say opportunities that are available in certain Irrevocable Trusts.
And there’s certainly a trust I called the Elite Trust. That gives you more value when you’re looking at the tax scenario, because there are ways that you can structure yourself using trusts where you can actually be in an extremely low tax bracket. And you can actually have a ton of assets, very valuable assets in a thing called an Irrevocable Trust. And it also has some other provisions in it.
My name for it is the Elite Trust. And you can learn more about it because I do have a whole explanation about that particular type of trust. You can go to MaximumAssetShield.com/elite To learn more about that trust. And what can happen is, there’s a number of different available things as it relates to the law. And as it relates to taxes. When you bring those things together, you can totally lower your tax outlay. So yes, the structure of the trust could be an actual delay in paying taxes.
So you might have heard of a 1031 tax deferred exchange. Well, there’s deferral in other types of trusts as well. So then when you set it up a certain way, that deferral can literally go from generation to generation to generation. There’s a lot more to learn about that. But to answer your question, whether an Irrevocable Trusts pays taxes, the answer is, it could. And that’s a maybe depending on what you take advantage of when you set up your Irrevocable Trust.
Hopefully that’s been of help to you. MaximumAssetShield.com/book. You can download for free, my book on that. And you can get some more information while you’re at MaximumAssetShield.com as well. We’ve got an upcoming event on the power and the profitability of trusts. So check in with us. Look forward to seeing you soon. Yeah, baby!