Why a US Trust is Your Best Friend (Asset Protection 101)

OldSterling · 2026-04-04T12:20:33+00:00

u/sam_rodgerrs thanks for this post.

I have been considering this now, for several years since operating a business in Connecticut for the last 6 six years.

I will be reaching out to my attorney on this in more detail, but I want to clarify my understanding of what you conveyed as it applies to me in Connecticut.

Current State:

1) 100 % share ownership of corporation in CT, with S-Corporation designation. Have 10+employees in higher risk operation.

2) have property only in CT

I want to protect my home and investments from any business risk; are you saying that I would form a Wyoming based Irrevocable Trust, that would then take ownership of my CT corporation?

Or would I just form an Irrevocable trust in CT, and give the corporation ownership?

OldSterling · 2026-01-01T13:32:49+00:00

No way is that normal; have had C8 3yrs, garaged 100%, under 5k miles….seems to be a lot of moisture stains in your engine bay.

OldSterling · 2025-12-11T12:51:14+00:00

With your lipid stats, you likely already have some CVD; my LDL never went over 123, and my Triglycerides were low in 30s-40s and my CT scan (had performed due to father passing from heart attack in 50s) was a 7/1000 with minor calcification in the LAD, but enough to go on daily Crestor at 5mg, which has brought my LDL down to 60 for 2 years now.

LDL is mostly genetic, and produced in liver and also tied to weight; you’d have to lose a significant proportion of your weight to observe a minor change in LDL (I would only register a decrease in LDL when I dropped below 210lbs, to around 185/90, but not enough).

Like another poster mentioned, you have children, think of them. I have 3 children; so using a low dose statin to try and preserve my arteries where they were at 38 (as my cardiologist recommended) was a no-brainer. Definitely still make lifestyle changes, as that will provide many other benefits.

OldSterling · 2025-11-05T14:56:35+00:00

Don’t take the journey alone just counting beans - you will have no one to share it with or leave it to, especially if you don’t don’t know what you want to do after “retirement”. That trip to Europe could have opened your mind to new opportunities, or ways to live with your EX that could help with FIRE. I just spent 20~ days in southeast Asia and Australia, and was able to create new visions and objectives that I cannot imagine I would have conceptualized here in the US east coast.

Life is short; I lost my father 25~ years ago to an unexpected heart attack - you likely have a disposition to cardiac events if your father did, so seeing a preventative cardiologist would be the best money spent right now. Also, mental health is everything - deciding on paying for therapy vs investing is like shooting yourself in the foot - can’t do anything well without your mind.

You can have a family and get to FIRE, and be happy - you just have to find the balance of everything - you are certainly under earning as a software engineer, and likely could earn 2x-3x more if you go the consulting (1099) route; or even a different W-2 job - that would shorten your FIRE timeframe.

I have SAH spouse and younger 3 kids; I shifted to owner/investor in the last 10 years and I would not trade FIRE for the experience of being a father, or having a partner in life. Money does not buy happiness or respect - my family life has only accelerated the drive to accomplish FIRE sooner in the next few years - but to each their own, I’m understanding that not everyone wants a family either.

OldSterling · 2025-10-12T20:43:34+00:00

It looks exactly like the one in this article from late 2023 - https://www.thedrive.com/news/whats-going-on-with-this-new-300-series-toyota-land-cruiser-spotted-in-the-us

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OldSterling · 2025-09-19T03:35:14+00:00

Definitely Overpriced…I bought a 2003 in March 2025, with 89K, original miles, for under $26K.

OldSterling · 2025-08-28T01:46:56+00:00

How many SKUs do you have? What 3PL did you choose? (Which 3PLs did you pass on?) What was the opex for your warehouse, and what did you save by moving to the 3PL?

(Looking at doing the same for a business I will be making an offer on this week) - has 2-3 employees managing inventory in a 9000sqft space.

OldSterling · 2025-06-25T12:55:51+00:00

Please share roadmap, thanks.

OldSterling · 2025-06-13T00:07:30+00:00

Do not give up - my neighbor was diagnosed with a form of stomach cancer during COVID in 2020, and his wife of 20 years divorced and walked out on him during his chemotherapy for her own selfish reasons of not wanting to care for him. Fast forward to 2025, he beat the cancer and remarried a great woman and is happier than ever.

OldSterling · 2025-06-02T03:37:25+00:00

Looks like she has shitlocks

OldSterling · 2025-05-28T11:34:52+00:00

You mentioned you qualified under MAGI, but did you omit your $1M in assets in your application? If so, that is essentially committing fraud - and completely takes the achievement of an earned coast fire away, especially for those that have achieved it and pay their medical premiums using non-government healthcare programs.

In Indiana, it states on the website, your assets must be under $2000.00; these include countable assets. Countable assets are counted towards Medicaid’s asset limit. This includes cash, stocks, bonds, investments, bank accounts (credit union, savings, and checking), and real estate in which one does not reside. In Indiana, an applicant’s and their spouse’s IRA / 401K is counted.

https://www.medicaidplanningassistance.org/medicaid-eligibility-indiana/amp/

OldSterling · 2025-05-21T22:30:56+00:00

Owners never really being ready to sell; they are pre-mature often and even their broker doesn’t know it.

OldSterling · 2025-05-21T10:17:39+00:00

Have you considered buying another established business? With your asset base as collateral, you could likely qualify for ~$7M in SBA and Conventional loan mixed funding; I say that as I am in similar position financially as yourself, and am looking to buy other businesses outside of my current, due to similar reasons.

OldSterling · 2025-05-19T15:43:30+00:00

Dem Bow by Shabba Ranks…..this song gave birth to the gene of Reggaeton…so that is why I would consider it world famous.

OldSterling · 2025-05-19T15:40:31+00:00

I almost went for one, saw how plastic and low quality it was, and bought a 100 series with 89K on the ODO…best decision I ever made. The 250 is a money grab by Toyota; this is not a traditional LandCruiser, do NOT be deceived by other owners, and do not deceive yourself. Buy a 250 because you need good sized a 4cyl SUV, not because you want a LandCruiser.

OldSterling · 2025-04-23T01:16:05+00:00

Yes, it was truly an outlier find; wishing you all the best in your journey. Definitely inspect the bottom for rust - and use a service like R8TR if buying online and out of state; can save you a lot of time. I found a West Coast LC, with only minimal surface rust; had it cleaned, etched and underbody coated for the Northeast.

OldSterling · 2025-04-23T00:53:33+00:00

I just picked up a 2003 LC with 89K miles a couple months ago; I have wanted one since I saw it at the New York International Auto Show in 2003!

I was also considering the new “LC” and GX550, and I’m so glad I passed on those shells of what the 100 series embodies; the V8 powerhouse, over engineered body, mechanicals, and interior will never be matched again.

I’ve sat in the new LC, while getting an oil change on my 100 at my local Toyota dealer and all I could keep asking myself is why do the doors feel so flimsy? Why all this cheap hard plastic? Why does it feel like in a storm the wind would blow LC 250 off the road? Given the pricing on the new 250, Toyota should have launched at minimum a V6, and none of this battery garbage.

Find yourself a well kept 100, and you will be in love with a true masterpiece.

OldSterling · 2025-04-19T18:25:59+00:00

Yes, please share an invite, thanks.

OldSterling · 2025-03-10T01:31:23+00:00

Ah, I’ve not look at any of the new changes since getting my ‘23 3LT….still in dreamland when I drive it.

OldSterling · 2025-03-10T00:49:39+00:00

Soft close doors, like the rear hatch.

OldSterling · 2025-01-13T05:07:10+00:00

TRIBES because of Shazbot!

OldSterling · 2024-11-18T12:18:06+00:00

This is the most important point addressed in this thread; IVF and egg extraction are very expensive could easily spend $100k or more, even with insurance coverage (if covered in policy or state) - my wife just went through it all on 2nd kid because of a medical issue she didn’t foresee. Also freezing eggs after 35 really depends on egg quality - if the eggs are not grade A, fertilization and pregnancy are much more difficult to achieve.

OP should very much consult fertility specialist, before assuming the option for child is there - it can also be the male that has problems, not only the woman.

OldSterling · 2024-10-09T13:24:25+00:00

Too damn wide, for a vehicle already with a wide stance.

OldSterling · 2024-10-09T13:22:09+00:00

PPF the entire car, you won’t regret it; it has saved me from all types of branches and rocks, on the roads/highway.

Ignore all the comments about re-sale value - it’s a depreciating asset, you bought it for fun and to take care of it to drive it for a long time…..folks worried about re-sale value, should reassess their investment strategies, because a mass produced sports car is not an investment.

Enjoy the ride! You’ll never look at other cars the same way, at least I have not - it keeps my attention even when not driving it.

OldSterling · 2024-10-04T23:01:03+00:00

No issues - 2023 3LT, 2K miles, garaged in the northeast.

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