Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world
Translation: I went to the bank without an appointment and started talking my word salad to a teller who couldn’t understand a single thing I said, so they escalated me to an officer who will quickly show me the door as soon as they realize it’s sovcit bs.
Yeah. The teller doesn't get paid enough for this bullshit, but the possibility of setting up a trust may be enough for a bank to try to sell services.
I know nothing about trusts either, but I can't help but laugh at the idea of some massively in-debt and in-denial idiot purchasing bank services they can't afford and won't benefit them in anyway. Just throwing more money down the drain, to the exact people they hate so much.
I can imagine the teller misinterpreting that he inherited money if he was talking about the million dollar trust set up in his name
"Oh you're a sovereign citizen ? I'm really sorry but we're not allowed to handle personal trust operations, you'd have to go ask [other bank that annoys you], they have been known to help for that"
"No sir you can't deposit your birth certificate in return for cash"
Maybe it's just regular trusts? Those things do exist, for asset management of wealthy families and such.
Though I’m guessing that is not whatever this sovcit was reading about on his Facebook groups. So now some poor bank employee is going to have to try to explain how they actually work.
Trusts are basically sovcit shit but real though
It's literally "you have to tell the government about your money so they can tax it, unless... you go to Nebraska, file some paperwork, declare yourself trust executor, and then you talk about your money like it's a person with free will that just so happens wants to pay your rent and buy you a jet ski. Then the government isn't allowed to ask about it, ever"
You don’t have to go to Nebraska lol.
No, seriously
Which state is best?
That really depends on which benefits are most important to you. But, generally, the consensus among advisers and estate attorneys is that the trust laws of South Dakota and Nevada offer the best combination of tax benefits, asset protection, trust longevity and flexible decanting provisions.
Nebraska's biggest claim-to-fame is being neither South Dakota nor Nevada
Are you sure? They all look the same in my head
Honestly, I was going to say North Dakota, but I wasn't totally sure which Dakota it was, so I picked Nebraska
You don't have to be wealthy to put all your assets in a trust. Everyone should do it if for no other reason than skipping probate court and taxes.
Where I'm at you can't establish a trust with less than 1M in assets, and there are no tax incentives.
In the US there are no estate taxes on the first $5,900,000 of assets for an individual or $13,900,000 for a married couple. They affect a tiny number of people, all wealthy.