# @edwardcollins_upleveled on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DKPsbEFxdKF
- **Gondola URL:** https://gondola.cc/posts/35104070-edwardcollins-upleveled-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/9388389890.jpg
- **Posted:** 2025-05-29T17:06:17.000+00:00
- **Account Owner:** Edward Collins | Money Lawyer & Wealth Strategist (@edwardcollins_upleveled) — https://gondola.cc/edwardcollins_upleveled

## Caption

Let’s Talk Trusts — And Set the Record Straight. 

There are only two species of trusts in the U.S.: 
 
Revocable. 

  2.  Irrevocable. 
 
Let’s start with revocable trusts. 
 
✅ I love them. 

❌ But they don’t reduce income taxes. 

❌ And they don’t protect assets. 
 
So why use them? 
 
Because they keep your family out of probate court. 
 
Revocable trusts are powerful legacy tools — designed to transfer wealth efficiently, without legal delays or court interference. If you care about clean estate planning, this is your go-to tool. 
 
Now… let’s talk irrevocable trusts. 
 
Yes, they offer: 

🔒 Asset protection. 

🏛️ Advanced estate planning control. 
 
But when it comes to tax reduction? 

That’s where things get misunderstood. 
 
Irrevocable trusts live in their own tax code — one that’s not favorable. 
 
Only four tax brackets. 

Top rate hits at low income thresholds. 

Meaning: even modest income gets taxed at the highest rate. 
 
So when you hear someone online say: 
 
“Just put everything in a trust and pay no taxes!” 
 
⚠️ Be skeptical. 
 
In fact, don’t take my word for it. 

Head to IRS.gov and type in: 

“abusive trust tax evasion schemes” 
 
Trusts are not loopholes. 

They’re tools. 

Use them the right way — and you’ll build wealth, protect assets, and pass on your legacy with clarity. 
 
Misuse them? 

And you might end up in court… or worse. 
 
Credit (IG): 
Gene R Boykin Jr. – thegogetterfamily_ 
 
 SF0669

## Stats

- **Views:** 31
- **Likes:** 146
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- **Comments:** 14

## Credits

These are the roles credited on Gondola. Credits may be incomplete.
A brand, account owner, or featured person is not necessarily the creator.

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| Edward Collins | Money Lawyer & Wealth Strategist | @edwardcollins_upleveled | https://gondola.cc/edwardcollins_upleveled | Talent |
| Hector Garcia | @Hector_FilmSchool | https://gondola.cc/Hector_FilmSchool | Content Producer |

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