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Old 03-27-2006, 09:55 PM
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REDCLOUD REDCLOUD is offline
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Join Date: Jan 2006
Location: Gentle State of Mind
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That form will do nothing but barbecue yer backside in molasses if you dont have the right asset protection plan in place! The self directed retirement fund or IRA purchasing investment properties is legit but they will come after you for taxes when you reach retirement and decide to start receiving funds from it.

Sort of correct. A Pension or SEP is not a form but a trust taxed as a pension. A self directed retirement fund is usually offered by an employer with limited choices. IRA's have other restrictions. You do not need an asset protection plan but an estate plan to avoid taxes upon maturity of the plan. A simple solution is to gift the accumulated amount into a residual income trust with kids or relatives as beneficiaries while you get the income for life. Life insurance works too. If your estate is under $2,000,000 you can give it to kids and relatives all tax free. With a little strategy you ought to be able to pay no tax at all, right here in the USA.
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