“Own Nothing, Control Everything”? Look, I’ve been helping high-income business owners structure their financial lives for nearly 30 years. I’m a lawyer who specializes in: 🏛️ Tax law. 📜 Estate planning. 💼 Business structuring. And here’s the truth: Wealth isn’t built on gimmicks. It’s built on structure. The right structure. Now let’s break down what’s wrong with this viral “wealth protection” strategy: ❌ Problem #1: The Irrevocable Trust at the Top. Irrevocable trusts sound appealing — they offer asset protection. But they’re terrible when it comes to taxation. They live in their own tax world. And let’s just say… the tax rates there aren’t kind. ❌ Problem #2: One Holding Company to Rule Them All. This setup dumps everything — • Non-passive income. • Passive real estate. • Portfolio assets. • Even personal items — into one entity. That’s a mess. Each of those asset types has its own rules, its own tax treatment, and needs its ...