@dohnthornton · Dohn Thornton
Saved 2026-05-15 · Posted 2025-06-06 · Status: New
Losing your short-term rental because you had it in an LLC is a tragic mistake yet avoidable. The spendthrift trust gives you 100% protection (info purposes only; not a licensed tax, legal, or accounting professional) #spendthrifttrust #assetprotection #taxreduction #taxsavings #contractlaw #lawsuit #anonymity #privacy #businesstrust
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Is this true that:
A spendthrift trust is a legal arrangement designed to protect a beneficiary's inheritance from their own poor financial decisions or from their creditors. The term "spendthrift" refers to the person for whom the trust is created—someone who is prone to spending money freely or foolishly.
Here's how a spendthrift trust typically works:
* The Spendthrift Clause: The defining feature of this type of trust is a "spendthrift clause" or "provision." This is a specific legal wording within the trust document that designates the trust itself as the sole owner of the assets, rather than the beneficiary.
* Trustee Control: Instead of giving the beneficiary direct control over the assets, a trustee is appointed to manage the funds. The trustee is responsible for distributing money to the beneficiary according to the specific terms set out by the grantor (the person who established the trust).
* Controlled Distributions: The grantor can set up a schedule for distributions, such as providing a set amount of money on a monthly or yearly basis, or only for specific purposes like education, housing, or medical expenses. This prevents the beneficiary from receiving a large lump sum that they could quickly squander.
* Protection from Creditors: Because the assets legally belong to the trust and not the beneficiary, creditors generally cannot seize them to satisfy the beneficiary's debts. This protection remains in place as long as the assets are within the trust. Once funds are distributed to the beneficiary, they may then become subject to creditor claims.
Key advantages of a spendthrift trust include:
* Asset Protection: It shields the inheritance from the beneficiary's creditors and lawsuits.
* Controlled Spending: It ensures that the funds are used for the beneficiary's long-term security and well-being, rather than being misused.
* Long-Term Financial Support: It can provide a steady stream of income for a beneficiary over their lifetime.
* Probate Avoidance: If established during the grantor's lifetime, the trust assets can bypass the often-lengthy and public probate process.
Potential disadvantages to consider:
* Loss of Control for the Benefi
More info please.
Llc doesn’t protect you automatically ?
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What happened...
No Airbnb name = barely any booking - keep your calender full with bnb domain name ! Give your listing a name and identify…, keep your bookings FULL: Text 415.885.9090 // http://rentBNBdomain.com >> Like + Share + Repeat !!!
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Do different states have different laws when it comes to this stuff example Florida?
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