A (2:58)

That's the key. So let's, let's take a step back here. Why do you think people not know this? Like you know, I would say this is like a trick, but this is not even really a trick. This is just a law and if you understand it, you understand how to keep your money. Why do you think people don't even understand the concept of like I can actually not pay taxes? Like that's interesting.

B (3:20)

Correct. The reason behind it, There are a million active attorneys in the United States. Only 4% are trust attorneys. And 97% of the trusts sold every year is what my mom and dad had. The family trust that avoids probate. And I'm going to be honest, it's expensive to get started. But the Rockefellers Trust is seven generations old, has 400 people under the same ein number and they're all saving taxes. My little trust with my two brothers, two sister in laws and nine nieces and nephews, we're going to start a family dynasty.

A (3:53)

Yeah. Now do you have to have all those people in a trust or you can just have a family trust if I'm not mistaken, like you could just be one person in a family trust. Is that correct or incorrect with this?

B (4:04)

So I had both. My business spends roof trust that saves Fed 90% on federal income taxes. 43 states no longer pay state income taxes. Nobody in my family is a independent worker except for me. Everybody else is a W2 income earner. So for every birthday and Christmas I purposely buy because my name's Sally. My older brother's, I hate to say this, it's kind of like Charlie Brown. So I buy them silver coins with the peanuts on it. My 17 year old nephew, as soon as he gets his coin he goes to sell it and my brother, who knows, put it under the same ein number so he doesn't have to pay taxes on selling a coin he got for free.

A (4:44)

Yeah. Or capital gains on if there's investments attached to it.

B (4:48)

Exactly.

A (4:50)

So how do people like again, I think there's an education piece here before we just jump into it because like I understand the trust because I was fortunate enough to have good accounts that teach me the trust. But like for those business owners that are spending that are making over $100,000 gross and are paying you know, 30, 40% taxes like what's a couple of things or steps that they can do to ensure that they can start switching that around.

B (5:17)

Perfect question. If they're interested, I have a free masterclass on the great discovery.

B (5:25)

One of the tools I use. It's a free tool called Nerd Wallet that shows you the formula for taxes. I just talked to a gentleman, a new client. He's a franchisee owner in Ohio. Made $175,000 in 2024. We're going to save him over $34,000 in 2026. He just came out with 2026 tax brackets and he's just like, are you serious? I don't have to ever pay this back? Worst case scenario. As I told him, his great great grandson in 2095 thinks he was crazy and cancels the EIN or Employee Identification number and closes the trust his great great grandson is going to owe. The taxes are due in 2095. Anything saved in 2025, 2020. I'm sorry, 2020, 2095. Anything that was saved in 2025-2026-2030-2040, they never have to be paid back again.

A (6:22)

Why is that?

B (6:24)

The trust, the law firm I work on behalf of was written by a Harvard law professor 77 years ago. You will file a 1041 tax return, not a 1040 tax return. So 93% of all Americans file 1040 tax returns. They do all their deductibles. Hey, I'm going to take off my phone, I'm going to take off my car, everything like this. How the trust is written that you will save at least that amount of money. I started my trust in Arizona in September 2020, 2021, 2022 and 2023. I saved 92% in federal income taxes. I don't know what changed. Last year, 2024, I'm in North Carolina, but it's been here since 2003. Mike, I made more money. This is weird with the lights. I'm sorry. I made more money and I got to save 94% federal taxes and did not pay North Carolina state income taxes. So I did pay 6% of federal income taxes. Sorry, I don't think lice.

A (7:25)

Yeah.

A (7:28)

So you mentioned earlier that it's hard. It's not easy to set up a tax a trust where you said it's expensive.

B (7:37)

I'll be honest. When I started both my business and beneficial Trust, it was $42,000 for me. With my clients, I priced a little bit less. Most of my clients had neither one the business trust or they have the beneficial trust of all My clients, I think only about 8 of us have both, but.

A (7:57)

Sorry, it cost $40,000 to set up a trust.

B (8:01)

The first trust would be $20,000. The second trust would be $17,000. So if you just wanted the business trust. Yeah, it would be $20,000 up front.

A (8:11)

Just out of curiosity, when I hear that, I just, I like, I don't understand. Why is it so expensive to set up some documentation?

B (8:19)

You've got the law firm behind you. You have an entire team that's behind you. The team's going to get your ein number, the letter for your bank. They're going to be there holding your hand to make sure things go well. There's other companies that are selling the Spend Swift Trust. Anybody could sell this. But what I like about the law firm is in 77 years, not a single trust has been audited and only one trust has been questioned. And now Paul Benson's grandson and great grandson run the law firm. You get questioned by the irs, they're going to defend you free of charge. So you're, you're saving taxes and you have a safety net, if that makes sense.

A (8:56)

Yeah. So. So what I'm hearing, I think it's very important, is you can set up a trust that will fail, or you can set up a trust that won't even just succeed, but will stand the test of time if the IRS comes after you. So it's not a place where you actually want to cut short or cut corners. It's a place where you want to make sure and ensure that it's set up ironclad, bullet proof so that your money is safe.

B (9:23)

Completely. I'll be honest. I spoke to a real estate group down in Atlanta, and one guy's like, hey, I got my spendthrift trust for $8,000. Like, who's your attorney? He's like, I don't know. And I, I'm like, what happens if you get sued? He goes, I don't know. I'm like, oh, you know, congratulations, you saved a lot of money, but I don't want to be put in that sticky situation.

A (9:43)

Yeah, yeah. So why isn't this more aware? Like, why? Like, why isn't this public? Why. Why wouldn't be people promoting this or even marketing to this or even speaking to this? Why is it such a hidden rocker feller family thing? When Donald Trump screams about it at the top of his lungs that he doesn't pay taxes, everyone thinks he's some animal, but he's just following a law that he p. Put in place or his dad put in place many years ago. So, you know, I still don't, I don't get the, I have a hard time with the disconnect. I understand. If you're an employee, tough luck. That's your job. You know, like, you're an employee, but as a business owner, how do you not. Or let me ask this, maybe a different question here. When should someone look at getting a trust? At what point does that make sense? When you're earning X dollars or profit, does that make sense?

B (10:28)

Correct. That's why I say at $100,000 per gross per year. One of my clients, she sells earrings on ebay. She knew her tax bracket was going to go from 22% to 24%. She knew my story. And she's like, let me get this started. She was only making $75,000, but the money she was going to save is. Well, she started this back in 2023. I just talked to her back in January. She's making even a heck of a lot more money than she was in 2023.

A (11:01)

Yeah. And, and because she got the trust, she's. She's also saving money, tons of money.

B (11:06)

And she lives in California. So California's people like to say California has the highest taxes. They're the third highest tax in the United States.

A (11:15)

So a hundred thousand dollars gross is your kind of the number of when people should. Because I, I, you know, me, I tell people just because I have a lot of people that work with my company as well as 1099, that you call them, we call them contractors in Canada. But I say like roughly around 80 to 100,000 is like when you want to start a year is when you actually want to start going from like a small business to corporation. That's when you kind of get the, the benefits of a corporation and all that. But to set up a corporation is like a couple thousand dollars even with a lawyer. Right. So a corporation must be very different than setting up a trust.

B (11:47)

Correct. And you know, I'm going to be honest. I'm in a national real estate group, and I was taught when I became a real estate investor, get an LLC for each one of my companies. That's what, get an llc, get an S corp, get a C corp, things like this. I started doing a mastermind in my real estate group. And the gentleman who is the CPA mastermind, we made a presentation to him and he sat there and he listened to us. He goes, thanks. He has no interest in helping his clients because he gets paid to get set up their llc. He gets paid to set up their S Corp, things like that. And really sad thing about it, anyone can go online 24,7 to the Secretary of State or the corporation commission of each State and Research LLCs, S Corps and C Corps. 40% of them get sued every single year. And people aren't aware that that information is completely public. The trust keeps your information 100% private.

A (12:40)

So trust is also private. They can't even find you. They wanted to. Wow. What are the some of the challenges you see with business owners when it comes to trust?

B (12:53)

One of my clients, I was in a pitch off contest down in Florida. I came in fourth place out of 100 people. So I did okay. One of the judges, he has four different. I'm sorry, he has 94 different LLCs, S Corps and C Corps. A really complicated thing.

A (13:11)

Yeah. So he's just hiding and moving money.

B (13:14)

And protecting, moving money from place to place. And you know, he started the trust and he's slowly moving things into it. So it's not difficult. You don't have to change your, your, your, your business cards or anything else. The only thing you're going to change is where people pay you, where the receivables are coming in and where you're paying out for your for, to pay your bills and everything else. And for him, we're, we're going to save him over $9 million so far this year. He's not completely transitioned it to the trust 100% yet. 9 million. Wow.

A (13:47)

So you're saving someone again that you don't. You just dropped that so easily and lightly. So as a result of setting up someone who has an extensive portfolio of corporations LLC set up, you showed him the world of the trust and as a result he's going to save this year alone, which isn't everything even done yet is 9 million. So my question is, is how kind of guy who has all these LLC not understand or have anyone in his. It's just weird to me that a guy like that can keep building all these LLC but not have the accounts or the lawyers around him telling them you need a trust. Like why? Like that's where I'm trying to get to. The one thing is like how can people not understand that or see that or know that.

B (14:30)

No, no offense to CPAs, they study tax, they, they study what they need to. I do a free mastermind. Every Monday night. An adult child whose parents have five walk up apartment buildings in Brooklyn. You can do depreciation for 27 and a half years. They've owned the apartments for 20 years. They're trying to figure out do they sell them or what they do with it. So the son gets on my, on my Monday night video. He call, we set up an appointment. He then sends me an email, says, well, my, my CPA says, you're lying. And I said, textbook Trust attorneys. Only 4% of attorneys in the United States are trust attorneys. They study is called Scott and Asher on trusts. Three weeks later, someone sets an appointment on my calendar. It's his CPA. All his clients in Brooklyn are at this 20, 27 year mark. Some of them are going to sell their apartment buildings. They need the beneficial trust. Well, both of them, all of them need beneficial trusts. And he and I have a George JV agreement and we're talking to all the people. Another situation I ran into. I, I live here in North Carolina. I went to the multifamily. They had a meeting here. Multifamily Association. A gentleman who set up an appointment with me. I get on the zoom. He goes, I don't want to talk to you. You're lying. And I'm like, okay, that's too bad. You've got all these investors who could be saving so much in taxes. They just think it's too good to be true.

A (15:59)

Interesting. But I mean, Donald Trump brags about it on national television, like, and that's how he does.

B (16:06)

It's.

A (16:07)

It's very interesting. Sometimes logic's not so logic anymore.

B (16:11)

Correct. His father, a true story about this. Donald Trump and Frank Trump got sued by the city of New York for discrimination. And his father, sharp distrust in 1972 because he never wanted to be sued again. You know, I wish my father paid for my trust, but he didn't.

A (16:27)

Yeah. Yeah, exactly. So let me ask you this, because I know some people have families, they have generational wealth that they're. They even. They're not there yet, but they're thinking about it. How do, how does a trust work when it comes to sending it, you know, handing it down to generations and whatnot and protection there.

B (16:43)

Who, whoever is a trustee or trustees can make the rules for all the beneficiaries.

B (16:49)

If you decide one beneficiary might be too loose with the money, hey, they get, let's say, a thousand dollars a month and nothing more. The other beneficiaries might get a large portion. There's no contesting the will. There's no infighting. There's nothing they can do with this. One of my clients, kind of a sad story. Her adult daughter lived in Portland, Oregon. And she was a hiker and they thought she had Ms. And they treated her for Ms. For four years. Nobody did Lyme disease tests. And she actually has Lyme disease. So she's got two adult sons. She's got her daughter who's bedridden. She's purposely setting up inside the trust, a conservatorship for her daughter. If something happens, Veronica, her daughter Crystal will be taken care of, but her two adult sons, who are okay, and everything else, they will get their money given to them when she passes away, if that makes sense. Tax free.

A (17:44)

Yeah. And. And can you train, can you change the trustees on a trust? Or is the person who sets up the trust the trustee for life?

B (17:54)

Here's a funny story. I'm single. When I went to go open up my bank account at Wells Fargo, it was Wells Fargo who stopped me because they're like, what if you get hit by a school bus? You know, you die. So I had to talk to my oldest nephew, you know, and he's just like, I'm in charge of how much because I have real estate in two businesses. So he's my associate trustee. I can decide, as I'm a trustee, I can decide who is the beneficiary and who's no longer a beneficiary. When I pass away and I'm dead in the ground, he becomes a trustee, then he gets the decision. Beneficiary, who is that?

A (18:29)

Yeah. Okay, but you can also do a will. Can a will. Does a will trump a trust or does a trust trump a will?

B (18:35)

Trust. A trust trumps the will. Correct.

A (18:37)

The trust trumps the will because.

B (18:39)

A little.

A (18:42)

So it's very important to have a trust associate then correct in play.

B (18:50)

Because whoever. I mean, I'm not saying I'm fantastically wealthy, but I have built my wealth. My 17 year old nephew who sells the silver coin, he can't handle getting a lot of money right now. I mean, gosh, he'd go crazy. But my oldest nephew, who's 29 with two kids, he's a little bit more responsible. So I can figure out how if I do die this year, I do have everything lined up. And I will change what I plan to do as things change, if that makes sense.

A (19:21)

Yeah, it sounds like there's protection, there's money saving, there's. It is a little complex, but it could be easy with the right support and right service.

B (19:32)

Exactly.

A (19:33)

Somebody is listening to this and they're saying, I need to get my ass a trust right away. I need to protect my future, my generational wealth and just plain and simple. I'm just sick and tired of paying taxes. Where can they come and find Sally.

B (19:49)

My last name is unusual, so I am on LinkedIn. My website is www.thetrust is you.com Again, my goal is to teach this. You'll have it in your have it in your quiver. Maybe you don't need it today, but in the future you have it. So please reach out to me. I'm here to help.

A (20:08)

What was the website again? Just so we can hear it one more time.

B (20:11)

Www the trust is you y o.

A (20:15)

U.Com thetrustisyou.com there you have it. Sally, thanks so much for being with us.

B (20:21)

I appreciate you having me. Have a wonderful. Well, I shouldn't say that. I was going to say have a great Halloween, but that would the time.

A (20:28)

Dates hit and that was another episode with the Vault Unlocked, where proven builders, real strategies and unstoppable growth happens. Subscribe now, because the next unlock could be the one that rewires your business forever. This is where the Playbook is revealed and the Vault is unlocked.