Quote:
Originally Posted by txusa03
that is why you should use as much money as you can when you are alive. Go and travel to europe, cananda, china, hongkong, ect. Dont let the gov steal all your money. use it and have fun but dont over spent too fast.
can the gov steal from a trust fun? I heard that trust fun are very strict and has specific clauses on how the money is to be spent and by whom...
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all my money is in trust funds, they can be strict on how the money is used usually something like "education maitanance and support" while your under the age to recieve principle, but the government can still stick their dirty little hands in there and take money, there are trusts protected against debt collectors though
and spending all your money while your alive is one of the tough things, because of the way taxes work in the US if you spend it you get taxed, but if you just leave it to grow you dont get taxed
so out of a million dollars by not spending, 500k could belong to the government but still be yours, so you still get like 50k a year from the governments money, but if you go and try and spend it you dont even get to spend it all because you get hit by tax and then you dont have the money to make money off of anymore, so its a hard choice to go spending all that money