Sally Gimon – She Can Help You Save on Taxes Legally! Spendthrift Trust – The Way The Rockefellers & President Keep Their Wealth

Transcript

Sally was 53 and needed to make a change in her life quickly. She had been an insurance agent for 20 years and had used her experience.

Make some positive changes now.

She shares her information weekly in her real estate group and win.

This letter to find found the business and beneficial spendthrift trusts.

Please help me to welcome Sally given.

OK.

Welcome to the show, Sally.

So we've been talking a little bit before the show and it turns out.

Our parents live.

They're probably neighbors and know each other.

Play small world.

Small world in Goodyear, AZ.

So you were going to tell me about what you had to do when you had to move back there to be with your dad so.

They're building houses there.

It was just when the bubble started and they kept telling me it was Palm Valley and every six months, they said, can we postpone your house for another?

I got almost $20,000 taken off my base price of my house and I'm like, this is excellent.

I sofa served.

I stayed with my parents for a while, but it was it was a deal for me.

I I I enjoyed that.

That is so cool.

So what do?

You what do you?

Actually, do we both got to watch good?

Here, Arizona kind of blossom.

We were talking about weather in the beginning and that and how Goodyear has like this spring season, which is beautiful, even though it's in the desert.

But when our parents first moved there they were.

It was just rose fields everywhere and a few houses in these.

Unique communities, but how did you get?

Started and what are you doing now?

How I got started? True story. My parents drove from Goodyear to Charlotte for my oldest nephew's wedding along the way.

Unfortunately, my mom got septic to the blood.

She was in the hospital for 13 months on a ventilator.

She was in the 13 months on the ventilator in the hospital for 15 months.

I was going to their house every 3-4 days to go through their mail.

And in December, it was a very thick envelope, was 27 pages for her first month in the hospital, a Medicare statement and unfold.

You know it's full.

In half and it was $172,000 for her first month in the hospital. Thank God my dad was retired military. They had Tricare.

I was working as a Medicare broker.

I, you know, Commission and salary.

I had student loan debt.

Still, I had credit card debt.

I went through an A green light.

A guy ran a red light boned me.

I had no insurance, so I had two car payments.

I was desperate, if that makes sense.

I called my friend.

Glenn, he was a real estate investor and he's like, hey, we're gonna have a Christmas party this coming Saturday.

We've they've got teenagers.

He's like, we've got.

We've got a Christmas pageant.

We'll be there late.

I don't know about you, Jill, but walking to a party by yourself, that is scary as anything.

So I geared myself up.

You know, I made a pasta salad to, you know, you had to take something.

It was the best decision of my life.

I got involved with real estate started real estate investing doing.

Week it was a bank owned reverse mortgage. The contract was I had to pay $20,000 and then when COVID got lifted, it would go for $50,000. I'm going to make $30,000 doing nothing other than holding paper.

Not to pay though.

In my real estate group, it's a national group gentleman named Garrett Gunderson wrote a book called What the Rockefellers Do.

I had the I had read the book before I joined.

I went through and I googled every name called people.

It went up to 64,000. I made $44,000 and I saved $10,550.00 with the trust.

I started teaching a mastermind in my real estate group that was based in Phoenix, you know, good year.

I had a partnership with the gentleman.

Who ran it?

Guide on to his zoom schedule.

Zoom with him on January 13th and Mr.

Jekyll showed up.

I mean it I.

He's my mentor.

He's my friend.

He was a business partner and he's like, well, I I I can't trust you.

You're calling me a liar?

Like I only asked what?

Happened. You know, I.

I I didn't call you anything.

And he goes well. I have to put your mastermind on hiatus for six weeks and I'm like, I'm not a human. yo-yo, I don't want.

To do this anymore.

You work with coaches, my coach?

You know Bob Proctor and Sandy Gallagher.

The Doctor Gallagher Institute.

I I'm a student of thinking it's.

The results my coach, Susan, says.

I'm going to tell you three really hard things to do.

You need to get a new real estate group.

You need to move and you need never talk to him.

Again, I'm like wow.

So talk to my brother.

They have a 5 bedroom house.

In, in, in outside Charlotte.

I started my own business from the ground up.

I mean, with my real estate group, they knew they knew me, they liked me.

Everything was going well.

Great cash cow all of a sudden it.

Was gone and yeah it it.

It was a shocker and.

I I'll say this today it was the best thing that happened to me because I'm doing well with my business and I'm helping other people but.

You know when.

I was comfortable.

They I I had become extremely uncomfortable, if that makes sense.

It does sometimes when we get in.

Those really, really scary spots.

The biggest changes for the better happen.

So who's your ideal customer?

Who are you helping?

My my ideal customers are people who make at least $50,000 in real estate a year. When you think about that, that's I don't care if they're fixing, fixing, fixing, fixing houses if they're wholesaling or auction houses.

But you know, I'm working with business brokers.

I I don't know if you know this when someone sells a business.

If it's a car wash, if it's a restaurant, if it's a online store, it doesn't matter if you did two depreciation on the on the on the the company.

If you have a.

A loan out.

If you have debt on the House, if you sell the company, let's let's just one of my clients just sold the restaurant for $3,000,000 right off the top.

The federal government is going to take 15% or 20% in capital gains for the sale of that business. They don't care if you've got debt.

I had. I had talked to both the husband and wife. They're either going to say 460,000 or 600,000 and the wife knew about the spendthrift.

She didn't know how much it.

Was going to save them. She calls me in happy tears going. That's going to change our retirement. He's 69, she's 68.

And you know.

I'm not anti American, but people the rich know this the the poor have a safety net.

It's the middle class, you know.

He worked at he. He started his restaurant 42 years ago and he wanted to sell it for as much money as possible.

And you know the business broker didn't even know there was such a thing as suspension of trust.

And now he sent me three more clients.

And, you know, I reach out to business brokers because.

Small I don't mean to say this, but small business people want to save as much money as possible.

And they have to.

They have to exactly, you know, $460,000 changes someone’s retirement. I mean, what if?

Either the husband or wife has a stroke or has a heart attack. My mom's medical bill for one month on a ventilator, $172,000 that could be devastating for people.

Yeah, that's an amazing thing is.

It your trust did you set?

Or is it something that?

I actually I actually work.

I'm a work for a law firm, a private law firm that has the patent on it, and the trust is patent it it's legal.

It's in the IRS tax code and it has gone in front of the United States Supreme Court twice.

So it's both times it's been on and on it I just did.

Every Monday night, 8:00 PM, I do Q&A and I had a real estate agent, a commercial real estate agent on there and she.

I I I've got so many people to talk to about this because you'll.

You pay every year to the federal government.

For what you.

Make that's a lot of money.

I mean, that's stuff that's money you could be saving.

And then the social.

Security on top of that.

Because you have to pay, both sides must be.

People, when they're becoming entrepreneurs, don't really realize the tax implications becoming self-employed.

And you'll just just to help people save money.

I it's a wonderful thing to help them save money because so many people don't know about it and when they do learn.

About they're like, wow.

Like one of my friends in my real estate group just sold 49 shares of his marketing company. It's a 3 year old marketing company.

And you know he.

Posted something and I just sent him.

A simple message I'm like.

I can help you save capital gains.

He's like, what's that?

He went to his CPA and he goes, oh, yeah, you'll have to pay some.

The CPA didn't even know how much he would.

OK, I saved him $100,000. Just starting the the, the, the, the spendthrift trust. We're going to put his rental income in there.

He's got Airbnbs in there because the trust will save you taxes, keep your information private, and then the most important thing with Airbnbs, it'll keep you from paying any judgments.

I can't stop you from being sued.

But it'll stop.

You from paying the judgement if you know if the person's injured, they'll get, they'll get it. But you know.

One of my clients.

And it should have insurance for that.

But you'll sue you for everything you have that.

That won't happen if that makes sense.

So you know.

He's now posted in several different places.

Got Sally save you $100,000 so.

Like, that's a lot.

Of money to you know.

He. I'll be honest, he's 56 years old. That's to him, that's going to be a lot of money in.

Do more real estate.

Put it in a, you know, wherever he.

Wants to put it but.

I could do a lot with a $10,000 let.

Alone $100,000.

Yeah, yeah, that's really exciting.

And it's not something that's widely known out there that you can.

Right.

That you can help people with wow.

Well, when we sold my parents house in Goodyear, my brothers and I, we weren't on the title.

We had to sit, pay all the capital gains.

They bought the house. I don't know when your parents bought the house, my parents bought their house for $118,000.

We sold it for 339,000 and we had to pay the capital gains on that, my brothers like.

Why wasn't this?

You know why?

Why couldn't we do something in the trust?

But it we we didn't get into the trust in time.

So, yeah, we had a piece so much.

So how did people get?

Their real estate in the trust cause I'm going to be talking to you.

I'm going to be talking to my dad here shortly, cause I'm in the same boat.

We're not on the title and my sisters.

And I are.

They were the beneficiaries of the trust, but we're not.

Our parents were very similar.

So it's an easy thing to do your if it's your own personal house, you're going to do your your when you get the trust, you're going to put the house the house into the trust it's going to pay for your water bill.

It's going to pay for your electricity.

It's going to pay for your garbage pickup.

But with your personal house, you're not going to change the deed on it until you decide you're going to sell it.

When you're married, you can take up to $500,000 in capital gains when you're widowed divorced.

You can take $250,000 saves, $250,000 in capital gains. My parents house, even if they were married.

You know, if my dad went to go sell it, it would have been so much.

He would have more than that.

In capital gains so.

It's and the neat thing is how?

Many sisters, do you have?

I have two sisters.

OK, so it could be an entire family trust.

I have my brothers, my sister in laws, my 9 nieces, nephews.

I even have two great niece, one great niece and one great nephew, all in the trust for birthday and Christmas.

I buy them silver coins so they have a something in the trust.

You know, if they go, if they want to sell the sell the silver coin, be my guest.

But they'll do it through the through the trust so they don't pay, right?

Hopefully capital gains.

I don't know how much they're selling their coins for, but my my nephew, who's 19 in Hawaii, he's like, I just sold my coin.

I'm like, OK, so yes.

Very fun, very fun.

I and how do people get ahold?

Of you to find out how to.

Well, let me ask you one more question.

So we would set up a trust.

My sisters and I and my dad.

And I could have my kids come in if they wanted also.

So we would.

All be part of.

Trust and we could put all of our stuff in it.

Correct your vehicles, the vehicles, everything else.

What Rockefellers do?

He had changed the title.

To what billionaires do.

It's about the Rockefellers, their trust.

It's the same.

Trust the Rockefellers and US presidents have the Rockefellers trust is called the office.

It's 7 generations old mines, only three generations, right?

Now it has almost 400 people all using the same EIN number. So your sister has one EIN number, the same EIN number, but has a different bank account.

Maybe she has a joint bank account with her, her and her.

Husband, you have a different bank account.

They won't know what you're doing.

Your other sister won't know what the two of you are doing.

Well, you know it.

It could be set up that way.

And you know, I'm the only.

One in my family who does real estate but.

Just keeping the liability you'll if you have a car accident or something.

You you could save money.

You'll save money doing that and everything else.

So how much does it cost to start these?

Kinds of trusts.

One trust, either the business trust or the beneficial trust one time payment is 20,500.

Most of my clients I have about 114 clients at this time, most of them only have one.

About seven of us have both. Both trusts would be $37,000 one time payment that comes with a retainer fee to talk to CPA.

Let's say you start the trust in June.

You won't be filing your taxes until April, and you you'll have questions.

You'll come with a team to help you transition.

Literally, yesterday I I had a meeting with a gentleman who has a spendthrift trust from somebody else and he doesn't even know how to put his belongings into the trust the he.

Paid the.

Whoever it was that sold them the trust and he can't get a hold of him.

He's like, do you mind if I talk to you?

And I'm like, I'll give you what I know, but I don't know your trust.

But here's how how to do things.

But you know he's flipping a house, and I explain you'll do from your LLC do 2 simple Bill of sales on.

June 16th I'm transferring 123 Main St. to your own name and then the second bill of sale on June 16th.

I'm transferring 123 Main St. from my name into the trust and this that's so easy. Why did they tell me that?

And you know, he paid quite a bit of money, more money than I than I did.

And he's just like no one.

'S told me what to do with the trust.

I think that's criminal.

So the business, yeah, I do too.

But the business trust is for the groups and the beneficial trust is probably what, like our parents did where you just.

They put all their assets in there, but you're still going to have to pay capital gains on stuff when it when it's sold.

So I do keep it separate.

I do run three online marketing companies in my trust.

You know, in my business trust.

So I was at Walmart other day and.

You know, getting an oil change and I have a red debit card and a blue debit card.

And the kid, he's probably 18 years old.

He's like, ohh, it's like, what was that movie Nemo?

The matrix the, the the matrix because I had to pay the Red Debit card paid for the oil change.

The only thing that beneficial trust does not pay for, which gets a little bit confusing is your food, fun and fashion.

I can do a demand letter tax free up to that amount, but I just used it the different debit cards just to make it easy so I don't have to do a demand letter.

So my spinach, my frozen pizza and my ice.

We're on the Blue debit card.

That's my mind is blown.

I I don't.

I don't even know what question to ask next.

So well, let's let's.

Let's circle around to what is the most important thing that you want people to know about.

About all of this stuff.

Again, I I usually I I talk to do a lot of zooms, I talk to people just.

To tell them.

Change if the parents, if everything was done in the trust.

Worst case scenario, if the United States is no longer here, if you know the trust would go away, but it comes from England, way back when.

King Henry the eighth start the Church of England, so it's.

They can't cut, go and change a trust that's already out there.

I'll just make my money from real estate investing in crypto investing.

I won't be able to sell the trust anymore.

If they change the rules.

Wow, not what I expected at all from this conversation, but so helpful.

I have a bunch of links that people can get a hold of you through, but you want to tell them the best way to reach you.

Craig, my website is the trust is you.com I I'm going to change it on it I they can reach out to me so they can talk about it and find out about it because I want.

To help as many.

Middle class Americans need to know about this because if you know, do you know who grant Cardone is a.

Real estate investor.

Yeah, I have him on recording saying that he doesn't want people to know about it, so if he comes up to you, your, your town, you're looking at a possible real estate.

You know you're going to fix and flip the house, and you're only going to make 8% rate of return.

You're like, oh, that's a little bit skinny. He can swoop in, take that over, save the 23.8% plus the 8%.

And he's just like people.

This is my secret way of real estate investing.

And like, I want Grant Cardone to send me a cease and desist letter because I tell that story as much as I can because.

That's just not right.

I mean, you know, I'm not anti American.

I I love this country.

I love what we can do here.

But the first page of the tax of the IRS tax code says it's up to each individual to save taxes on their own.

This is not taught in high school.

It's not taught in college.

I talked to CPA's who tell.

Me this is completely.

And I'm like, here's here's a book.

You know, he the Scott Scott book on trust.

It's listed in here.

It's the 5th edition.

This is, you know, it's a legal trust.

It it really is.

Wow, there's so much we don't know.

I mean, every day I find out something new that is just like, wow.

Had I known that.

But that's with you doing podcasts, Jill, you get to talk to all kinds of interesting people and learn all kinds.

Of new things.

And it's so amazing and it's really.

Honestly, it's been my honor.

To get to chat with you today.

You may have just changed my life.

I I'm not saying.

I hope I changed your life but.

If I can.

You'll the couple who sold the restaurant.

It changed their retirement. It's going to change. They're they've got three children. All three children want nothing to do with the restaurant and the whole joke was the son saw a TikTok video. I I post on six different social medias.

He showed it to his father and the mom who called me.

You know, Marianne, she's just like my kids are not allowed to bring cell phones to the table.

That changes as of today.

They could bring their cell phones to.

The table and you know.

Something simple like that, where a son is looking out for the parent or you're looking out for your your parents.

If it can change.

Who doesn't want to save money?

Keep their information private and not worry about being sued?

Because in the United States, one in three people get sued in their lifetimes.

I mean we're you've if you've ever been to Las Vegas, if you go down the the the strip?

I heard that 70% of this of billboards, they're all talk about how to sue people.

It it it just.

My brother, who lived in the Netherlands for five years, he came back and he's just like, why are all the billboards in Charlotte have about how to how to sue people.

Like, that's what attorney Sue.

Yep, it's just like.

Instead of helping each other.

It's so adversarial and I for one want.

To change that.

That's my purpose in life is to make the world a better place because individuals are coming together one-on-one and making a difference. And our conversation ripples out. And.

The TikTok video.

You know a ripple effect.

And I don't know if people are on TikTok, I get more business from TikTok than I do from LinkedIn.

I I'm on LinkedIn, I'm on Facebook.

I'm on Instagram and I'm on Twitter.

I get more business people coming to my Monday night meetings.

People are actually reaching out going.

How can I contact, you know, things because?

There's so much business.

TikTok, I know people are worried about China and everyone keeps telling you, oh, they're gonna shut down TikTok but.

I don't dance. Yeah, I. But I have 6 nieces and like. Oh, it's Sally. Don't get on TikTok.

You can embarrass us like I can't dance.

I I I have.

You know, the followers.

I have the people I'm helping with, you know.

What one person I helped with moved from Saint Louis.

To Puerto Rico to save on taxes, Puerto Rico's tax free, his son has type one diabetes and they couldn't get enough insulin for him.

So he they're trying to figure out how to stay in Puerto Rico. He saw my TikTok video. He's like, I can move back.

You know his parents are in Saint Louis.

His siblings are in Saint Louis.

His son, who needs insulin.

He was able to move that.

He's a real estate investor and he's saving so much money on, on all he's doing and he's just like, thank you for letting me come back.

Puerto Rico is beautiful, but my, my, my son could not get.

This one on time.

That's a scary scenario.

Ohh yeah it it's life or death honestly so.

Wow, Holly, it has been great chatting with you and.

I sincerely hope that.

I appreciate you have.

I appreciate you having me, Jill.

I.

I want to make sure you get the link because the my affiliate link because this is your audience. If somebody on the audience buys a trust, I do give a $600.00 when I get paid I I give a 600 JV agreement back to people.

Because I don't know enough people, the more people you know, the people you talk to, the coaches, you know.

Unfortunately, coaches are putting out their time and effort, they should be saving money too.

And a lot of them have older parents who have homes and they're in the same situation I'm in and like.

That's a lot of money.

A lot of money and you know, I I do work with older, older people selling their forever home, going into assisted living.

There's a crazy rule. It's called Irma. I'm going to do it for, like Indian RMAA. If you make more money.

Over 65 in one year, where you make $91,000, let's say from capital gains from interest income, dividend income, royalties.

What you get from your 401K distributions pensions, things like that, it will affect your Part B which for doctors and medical tests you could be paying the federal government to have Part B and you know.

I've talked to several families where, you know here in Charlotte.

That house is now worth over $900,000, and he needs some money to go into, you know, assisted living.

You know, if he's going to pay that much in capital gains and things like that and the children are like we need to, we need to do this.

Because it could affect you know you can.

Saying it's a one time deal, but.

How many people know how to deal with CMS Centers for Medicare Systems?

You know, you have to fill out paperwork, send it in, send in receipts and stuff.

I mean, no, the gentleman who I helped, he's 71 years old, he fell down the stairs. He broke his hip, you know, he he's got he.

He doesn't have time to do this.

His three children are working full time.

They don't have time to figure this out.

Yeah, if I if I can help family members figure out what they're doing and help them save and and.

That's my goal.

That's what I I love.

What I'm doing?

I don't believe people meet by accident and I don't think this was an accident.

Today I I I truly believe.

You're here for a reason.

And I will do whatever I can to help you shout that message out, cause it's just so important.

I appreciate it.

I do believe in a friend of mine.

You know, I I keep I I keep saying.

Back to Proctor Gallagher institute. I write down my goal 100 times a day. You know, you work towards what you're doing and she's like, oh, it's God's hand.

I'm like, why isn't it God's hand?

You know, there, there's Kissimmee.

There's everything in, in, in, in the.

Universe works together, so it it's true.

It's all energy and it all moves around and it's interesting.

How it happens?

Well, thank you so much for joining me.

Thank you for having me, Jill.

I appreciate getting the word out to your audience.

Thank you for letting me be on your show.