So, long story short, my in-laws are big fans of get-rich-quick schemes. They're actually pretty wealthy so it would be assumed that some of them have come to fruition. Here's the thing, my wife recently found out that they made an investment in her name and it's coming to fruition. They've said stuff like this before and it's always come to naught so we're being extremely cautious, however this time we've been provided with files showing how the initial investment has grown/how much we are looking to gain from this so it seems more legit than previous adventures have.
That said, they've given us a choice, either to take the money as a lump sum and pay the tax amount on that (35% I believe) or to take it as a Hybrid Trust and pay the required taxes on that (They're throwing around numbers of like 10-15k on a 450k payout) this seems too good to be true. On further inspection if we turned it into a trust we wouldn't be able to use the money as we see fit and anything we purchased would have to ultimately benefit the trust. Me and my wife are about 50k in debt, all things included and this money would change our lives, allow us to buy a house etc.
From what I've been able to discern, if we take it as the trust, we would be able to purchase a house with the trust, but that the house would be in the name of the trust. Not sure if that would matter or not.
TL:DR If this isn't a scam, should I take the cash option or the trust?
Submitted March 26, 2018 at 10:31AM by DogWearingAScarf https://ift.tt/2IW7j7I
