On Apr 12, 3:31 am, trapped in tulsa <visibleunderwa...@[EMAIL PROTECTED]
>
wrote:
> My finance is getting a a back-pay SSI settlement of nearly 70$
> within the next few months. We have been discussing what exactly to
> do with it to help it grow into more. Our high priorities are getting
> a house, getting a new vehicle, then investing the rest in various
> places.
>
> I've heard some of my other friends talk about a "holding trust" to
> place assets in. These will probably range from a interest bearing
> savings account, an IRA, day trading stock fundings, part owner****p in
> a computer consulting company, and part owner****p of a nightclub
> venue.
>
> I'm not sure if it's possible, but I would like to be able to put
> everything under one separate entity, so we can have her as the
> executor or such, and her two kids (15 and 14) as the beneficiaries.
> We may work in some type of for-college investments, and trying to
> turn over part of it into profit within three years.
>
> Her biggest fear is getting caught up in taxes, or having too many
> assets in her name and SSI freaking out.
>
> Any suggestions or ideas? We live in Oklahoma, both age 34, if that
> helps. We plan to talk to an accountant once the first lump some hits
> our account, what should we have prepared hand to get the ball rolling?
>
Are we talking about $70,000? there seems to be a lot of stuff you
are talking about with this amount of money. I think talking to an
accountant is a definite first step. Don't wait till the amount hits
your account.
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