Trust Games: How the Elite Play Hide and Seek with Wealth
Jul 18, 2024Ladies and gentlemen, let's examine the world of trust games at the top of the economic pyramid, where the rich and powerful play an endless game of hide and seek with their fortunes. The seemingly perilous and impenetrable world of business, law, entity types, and taxation are but little pieces on a game board that can be deployed or avoided in pursuit of your own personal whims.
This is the trust game.
The Rockefellers, Kennedys, Waltons, and their ilk aren’t just rolling in dough—they’re tucking it away in trusts, non-profits, foundations, and corporations, making it disappear from public view faster than a magician’s rabbit. Let’s dive into the rabbit hole and uncover how these fat cats use trusts to cloak their wealth and how you, the average Joe, can join get into the party, too.
Trusts: The Elite's Secret Sauce
Let's examine a few high profile examples: the Rockefellers with their oil empire and the shadowy tendrils that sprang off of it, the Kennedys with their political dynasty (and who knows what else that invoked the poor fortunes of assassinations in their family), and the Waltons with their retail kingdom.
These examples will show that trusts aren’t just financial tools—they’re more like invisibility cloaks for money and influence. Trusts allow these families to keep their riches away from prying eyes and greedy tax collectors.
Rockefellers: The Rockefeller family has been weaving a web of trusts for generations. It’s not just about safeguarding wealth; it’s about creating a labyrinth so complex that even the sharpest tax auditor would get lost. By stashing assets in family trusts, they’ve turned estate taxes into a ghost story—scary in theory but never actually seen.
If you're ever feeling exorbitantly wealthy, just recall that robber-baron families like the Rockefellers used to roll into undeveloped areas and build an entire city just to support a given manufacturing interest they needed. Complete with its own currency, grocery stores, and banks.
Kennedys: The Kennedys have their own trust tricks, using them to create a financial fortress. Ever heard of the Chappaquiddick incident? Let's just say that the totals paid out in damages did not accurately reflect the harm done, nor the amount accessible to the defendant.
Their dynasty trusts aren’t just about wealth preservation; they’re about building an empire that even the IRS can’t touch. Imagine a game of Monopoly where every property is a complex trust fund with several separate interests involved in each one, and you’ll get the picture.
Waltons: The Walton family, with their Walmart billions, have perfected the art of the GRAT—Grantor Retained Annuity Trust. It’s like a money laundering machine that’s totally legal. They dump assets in, wait a while, and voila, the wealth pops out the other end with a pretty bow, tax-free. Now they have the wealth greater than some small nations GDP, and aren't pressed about their tax bill each year.
Trusts for the Common Man
Now, you might be thinking, “I’m not swimming in billions. Can I still play the trust game?” Absolutely, but let’s be clear—it’s a different league. Here’s how you, the average citizen, can take a page out of the elite’s playbook:
Irrevocable Family Trusts: Start simple. An Irrevocable living trust can keep your estate out of probate court, saving time and money for your heirs. It’s like having your own mini fortress, keeping your assets under lock and key. You write your intentions, raise up your successors with the knowledge you acquire (from us of course), and they take over trusteeship once you expire. No probate required, no inheritance moved, no taxable event occurs.
Private Irrevocable Trusts: For those who want to up their game, irrevocable trusts offer serious asset protection. Once you put your assets in, they’re out of reach from creditors and lawsuits. The fact that they are non-statutory and regulated as private contracts just increases their flexibility and privacy.
Charitable Trusts: Feel like playing the long game and doing some good? Charitable trusts can give you a tax break and make you look like a saint. Donate to your favorite cause while keeping Uncle Sam at bay. It’s a win-win. We specialize in helping average people find a way to give back in a way that they believe in, and we can help you too.
The Grand Illusion
The elite don’t just use trusts to protect their wealth—they use them to advance their private agendas. By shielding their money, they can fund whatever pet projects or political machinations they desire, all while maintaining a public image of benevolence and respectability.
The rich and powerful know that transparency is their kryptonite. They’ve built a system so opaque that even Superman’s x-ray vision would come up short. By creating a maze of trusts, they keep their true wealth hidden and their influence intact. And the rest of us? We’re left in the dark, struggling to catch a glimpse of the fortunes we know are out there but can never quite see.
Of course, the media conglomerates that are created, run, and owned by these very powerful interests aren't in any rush to dig beyond the surface for the breadcrumbs, either.
Trusts are the elite’s game of hide and seek, a sophisticated shell game designed to keep their wealth hidden and their power unchecked. But don’t let them have all the fun. With a bit of savvy, you can use trusts to protect your assets and secure your financial future. Just remember: in the world of trusts, it’s all about playing the game and playing it well. So grab your cloak and dagger, and start planning—because in this game of financial hide and seek, you don’t want to be left behind.