Billionaire divorce uncovers secretive world of trusts in South Dakota
- Thread starter bnew
- Start date
SadimirPutin
Superstar
Yup
People yap about prenups which are good to have, but trusts in states like Nevada and South Dakota and a couple other states are absolutely ruthless when it comes to asset protection
Ol girl got left hard up
People yap about prenups which are good to have, but trusts in states like Nevada and South Dakota and a couple other states are absolutely ruthless when it comes to asset protection
Ol girl got left hard up
Neo TheInsurrectionistONE
THE ONE
So South Dakota is the Ozarks? 
What state did you set up the trust? I hope not Illinois...I work in finance and around high net worth individuals so I already know the game.
The key is you have to put your assets into the trust before you enter into the marriage for this to effectively work. Let's say you're planning to buy a new house for you and your fiance once you tie the not. Try to close on that house before your marriage date and have it under the ownership of your trust not under your name.
I drew up my own trust. All my assets are owned by the trust, including my condo, my rental property, and my investment portfolios. There is nothing in my name, however, I'm the beneficiary of the trust.
It's the only way to stay safe.
Been telling cats, that need to get their financial quotient up to speed. Their are numbers of financial instruments available to protect ones wealth. A blind trust before marriage is iron fing clad! Even with in marriage trust for assets or ptotecting business are still very strong!
There are financial instruments that are available to everyone, not just high net worth individuals.
There are financial instruments that are available to everyone, not just high net worth individuals.
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Nevada
Insensitive
Superstar
I've met a few and without saying too much about my career or what company I work for, I knowThis is extremely better than a prenup. Judges have been striking prenups down like toilet paper if the wife does not like it, or claims to be taken advantage of.
Now I’m starting to see why Bezo’s wife left with so little. I could see him hitting her with one of these swaps, and offering her a (public) fight for 12mil or a (private) agreement for30bil. Normally those divisions are brutal but bezo’s wife quietly left with less than 30%.
I really do think the wife of this billionaire wouldn’t have arbitrarily filed a divorce if she new she wasn’t getting sht. In the article, they say the man was, but then when they ask about the woman’s contributions article says
. she was a glorified secretary/office assistant. The creh spent years studying engineering, and sucked God knows how much white collar dikk to get into NASA(without military experience it’s normally impossible). You can quantify his contribution. And to compare, her contribution to his wealth was “smoothing relations”, basically talking.
If she truly played any significant hand in building that 2bil, then she would’ve made it her job to watch the books and take on actual duties
of individuals who've worked directly under or alongside Nasa engineers. It's possible to
get there purely off smarts and hard work. You don't necessarily need to be former military.
.
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How much money does it cost to start a trust?
Lots of factors.
Depends on type of trust.
Complexity
Where you're registering it.
I currently have two trust.
One is a family trust that is a Dynasty Trust.
And then I have a irrevocable domestic asset protection trust registered in Nevada.
For the trust that I have it cost me $7k to set up. That didn't include attorney fees. And then you have annual administrative fees, and management fees on the assets owned by the trust.
BaileyPark31
Love, Peace, Health, and Wealth
I work in finance and around high net worth individuals so I already know the game.
The key is you have to put your assets into the trust before you enter into the marriage for this to effectively work. Let's say you're planning to buy a new house for you and your fiance once you tie the not. Try to close on that house before your marriage date and have it under the ownership of your trust not under your name.
I drew up my own trust. All my assets are owned by the trust, including my condo, my rental property, and my investment portfolios. There is nothing in my name, however, I'm the beneficiary of the trust.
It's the only way to stay safe.
If you put your investments in a trust before you get married, what happens to money contributed after the marriage? Would it still be protected by the trust?
“Only dumb people pay taxes” interesting
humminbird
Veteran
this is why i coliI work in finance and around high net worth individuals so I already know the game.
The key is you have to put your assets into the trust before you enter into the marriage for this to effectively work. Let's say you're planning to buy a new house for you and your fiance once you tie the not. Try to close on that house before your marriage date and have it under the ownership of your trust not under your name.
I drew up my own trust. All my assets are owned by the trust, including my condo, my rental property, and my investment portfolios. There is nothing in my name, however, I'm the beneficiary of the trust.
It's the only way to stay safe.
can you give us some tips on how to get started?
can the trust hold anything? what about IP's?
