Reply to Irrevocable Trusts impact on FA?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I LOVE how judgmental RICH people are who hire people to show them ways to avoid paying their fair share of taxes!

Oh please! To the OP, don’t listen to these hypocrites. Continue to grow money for your children’s future, answer the question honestly if asked about trust funds, if they still give you money, take it! [/quote]

Agreed. These are the same people who if you said you had a million saved for retirement would be like: that’s NOTHING you are SCREWED yet a million in trust for kids education instantly makes them l”rich trust fund brats”. These are the same people who will take advantage of every tax loophole and make it out like you’re a jerk for asking a legitimate question. If I could protect my kids trusts to ensure them having money to buy a home or start a business? You bet I would. The accusation that they’re taking FA money from other kids is absurd/ we have a problem in this country because they give out financial aid like candy. I’m surprised you’re not also criticizing the kids for “taking a spot” from a FA kid if they go full pay which makes them more attractive.

Lesson here? Don’t bring up trusts of family money on this board unless you have incredibly thick skin. The vipers can’t STAND IT.

I’ve learned to never ever mention my trusts or my kids trusts/ there is a special kind of hatred for those whose parents are able to gift while alive/have benefitted from the work of their family. [/quote]

The financial aid that they "give out like candy" at private K-12 schools comes directly from the other generous families at the school. I am not interested in donating to someone who CHOSE private school, can easily pay for it, and chooses not to. There is a certain amount of FA, and absolutely this situation is taking away from another family who has less.

And it is unclear who you hate here. The rich people? You and your children have trusts. You and your family worked for that money, but the other rich people didn't? Please. Family money is great. Just don't pretend you are poor when you have it. Don't ask other people to pay for their K-12 education because you would rather give them the money when they're adults. Maybe they want to give their own children $1M instead of supplementing the expenses you chose.[/quote]

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