How does this work as an asset shelter? I suspect that this may be unique to Florida.
The article says his wealth is in trusts.
“Judge Kelley has previously ruled that a trust established for Goodman’s two minor children could not be considered as part of his financial worth if a jury awarded damages to the Wilsons. It remains unclear, according to a Jan. 26 order by Kelly, whether Hutchins will in fact be recognized as a legitimate beneficiary under the children’s trust.”
It doesn’t do diddly as an asset shelter.
The IRS treats spousal inheritance as no tax liablity.
Children however are taxed over a certain amount....I think 3.5M now...not sure...it has all changed a lot over the past few years back and forth.
Why not just marry her unless he didn’t want her to have access to all his stuff?