this post was submitted on 08 Apr 2024
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I'm confused... It sounds like they're jumping through a bunch of hoops just to ultimately still spend their own money. What exactly are they trying to accomplish?
It's more like committing fraud than anything I assume. I think the goal is loan yourself money and keep it in the trust. Then the trust has more assets than it really does by listing a fraudulent loan as accounts receivable.
You use that to get a real loan, then don't pay it back. You remove everything from the trust and try to claim there's nothing for the bank to take.
To be fair, it actually works if you're rich.
You would have to move the trust to another country though that's the part that makes it work making the money inaccessible. And the country that you pick has to be one that doesn't have an agreement with the United States so transferring it to Canada isn't going to work.
Also you have to be careful not to transfer it to a sanctioned country otherwise they'll get you on that.
If you are going to do this you have to be rich because you have to be able to pay an actual accountant that knows what they're doing, rather than just listening to some gibberish on Facebook.
Thanks Echo. Now play Resident Alien on Netflix and dim lights to 30 percent.
Understood, playing Frasier at 100%. Turning the lights off.
I'm guessing avoiding taxes somehow. Probably involving a letter with a red thumbprint on it.
I don't think a red thumbprint alone would cover all of this... They'll need a lot of illegible writing done on a diagonal covering up most of a form, and at least one fake notary stamp as well
Almost there, but I think you need to send it via Certified Mail (with Notice of Receipt).
They are trying and failing to create a legal distinction between themselves and the trust. It's based on a misunderstanding of how things like LLC'S work. Because of course it is.
The problem is that "the trust" wouldn't be a company, and so all of the rules don't apply. But they are all far too thick to know that
This might be the one where they think the government has $2 million your to your social security number that you can use. If so my guess is that the money isn't allowed to be just "withdrawn" it can only cover a debt? So have the estate loan money to the "bank" (yes this isn't a debt but my guess here is pfm)?
Gummies are working overtime but if I just read one sentence at a time I can never link the massive holes from one to the next. Might be how their brains work all the time?