Since itโs the end of the year I got my 3 trust eins. However if I finalize and notarize the 3 trusts this Dec 2025 would I need to pay trust taxes on year 2025? Would it be better to finalize n notarize the trusts in Jan 2026? So that I wonโt have to pay trust taxes for 2025 and of course worry about trust taxes from 2026 onwards.
Happy to see @Gabriel Galam @Zajahn Johnson @Kevin Westring @Saphira Andre on the Accountability call tonight! My biggest takeaway was better understanding how the Tax Exempt Trust can allow you legally avoid taxes through charitable donations and recycling the remaining of the money to your beneficiaries.
shouout to Zajahn for inspiring the question that lead to this answer. So basically his question was how can a person be the trustee and beneficiary. So the way the trustee can be the beneficiary is the trustee being part of the private family foundation. And u the trustee can be part of the private family foundation being one of the Board of Directors. It made sense in my head that way hope it makes sense for u!
Hi I am Gabriel I am from Hawaii and I just came back from my vacation. Finally locking in for these trusts. Just curious did anyone here ever go to a lawyer or a cpa to have a Structure Consultation Based on FLIP Formula Framework for their trusts?