MCP: Unveiling the Power of Trusts with Sally Gimon

Welcome to another episode of the #MeetCoolPeople Podcast! I'm your host, Ely Delaney, and today we have a fascinating guest who is making a positive impact in the world. Joining us is Sally Gimon, a former Medicare broker and owner of bank-owned properties. Sally has an incredible story of how she discovered a unique trust strategy that can help US-based owners, 1099 income earners, and investors save on federal taxes.

Sally shares her personal journey of facing tax issues with the IRS and stumbling upon the trust used by the Rockefellers. Intrigued by its potential, she started her own company in March 2020 and has been helping small business owners, real estate investors, and individuals looking to save on taxes ever since.

During our conversation, Sally explains the five elements of these trusts: they are irrevocable, non-grantor, discretionary, spendthrift, and the trustee can make rules for beneficiaries. These trusts have legal precedent and are recognized by the IRS. Sally provides real-life examples of how these trusts can save on federal taxes and protect assets from lawsuits.

We also delve into the different types of trusts, including business trusts, beneficial trusts, senior trusts, noncharitable trusts, and real estate syndication trusts. Sally shares her own success story of setting up a syndication trust and how it helped her eliminate debts and achieve financial freedom.

In addition to the insights Sally provides, we discuss the importance of protecting oneself, one's business, and one's family, as well as planning for the future. We explore the potential benefits of these trusts for future generations through inheritance tax and probate.

Here are some key takeaways from our conversation with Sally Gimon:

- Trusts can be an effective strategy for saving money on federal taxes and protecting assets from lawsuits.

- These trusts are not just for the wealthy; they are accessible to anyone looking to save on taxes.

- Different types of trusts cater to specific needs, such as business owners, investors, and seniors.

- Setting up a trust requires investment but offers long-term benefits and protection.

- Utilizing trusts can help individuals create a financial legacy for future generations.

Connect with Sally at: www.thetrustisyou.com

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