I was under the impression any lawyer could set up a trust that would manage all your financial dicisions and assets. It is a common tactic to avoid taxes on inheritance. You have to follow some rules but basically you rent your home from the trust that is paying the mortgage. All funds are put in the trust and it's goal is to allow your wife and/or you to live a comfortable life by making use of any financial tools or tactics that you want it to, because you run the "trust". Kind of schizophenic to describe. Trusts are able to avoid many taxes and penalties that individuals must pay. Have you asked any tax lawyers? It always seemed a lot like setting up a corporation except, it is exempt from taxes corporations must pay. It has been almost 10 years since I did any of that knd of accounting. I guess it is most like setting up a charitable fund, but I'm guessing. I sure wish you the best. john
----- Original Message ---- From: "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> To: [EMAIL PROTECTED]; [email protected] Sent: Monday, October 29, 2007 4:03:40 PM Subject: Re: [QUAD-L] Supplemental Security Income Would you happen to know of any attorneys that I can speak with that are familiar with this, because all those that I spoke with here in Richmond, VA are not aware that this can be done. Thx Larry -----Original Message----- From: John S. <[EMAIL PROTECTED]> To: [EMAIL PROTECTED] Sent: Fri, 12 Oct 2007 11:44 am Subject: Re: [QUAD-L] Supplemental Security Income Dear Larry, Just between you and me and santa, I think there is a way to have your wifes pay put into a trust. The trust is run by her and has a stated objective (such as keeping the two of you from poverty). You need a lawyer to help you set it up. Your wife would be the CEO of the trust and you could be named treasurer. It sounds complicated but esentially you put all you have into this trust. the trust becomes responsible for maintaining a satisfactory means for living for both of you. What is cool is it sidesteps a lot of taxes and it rents your home to you while it pays the mortgage. Wealthy people all live through trusts. In some states lawyers can turn you into a certified charity. Anything you pay the lawyer is a tax write off and is paid by the trust which files its own taxes. john ----- Original Message ---- From: "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> To: [email protected] Sent: Thursday, October 11, 2007 11:23:59 PM Subject: [QUAD-L] Supplemental Security Income Hey, do any of you guys receive Supplemental Security Income and are married to a spouse who is working? My wife just started working and I think my SSI may be cut completely. Larry C5 Check Out the new free AIM(R) Mail -- Unlimited storage and industry-leading spam and email virus protection. Need a vacation? Get great deals to amazing places on Yahoo! Travel. __________________________________________________ Do You Yahoo!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com
