Trust Setup For Funds

Summary

If you are receiving a large sum of money but cannot put it in your name, consider setting up a trust or consulting a financial advisor. Trusts can hold money without it being directly in your name, potentially protecting it from IRS scrutiny. Gifting within IRS limits is another option. Its crucial to handle this carefully to avoid legal issues. Consulting a tax attorney or financial advisor can provide personalized advice tailored to your situation.

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To avoid the IRS from taking it
Got it! It's really important to handle this carefully to avoid any legal issues. Here are a few general options:
- Trusts: Setting up a trust can help protect your assets.
- Gifts: You can gift money within IRS limits.
- Consult a Professional: A tax attorney or financial advisor can provide personalized advice.
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