No, You Can’t Do That With a Trust: Scam Trusts Exposed with Bill Gross

Promoters love to claim that a trust can make income vanish or taxes disappear. The reality? No, you can’t do that with a trust. In this interview, John Strohmeyer and Bill Gross walk through the most common scam trust setups—family residence trusts, misused charitable trusts, bogus asset protection trusts, and the notorious 643(b) “disappearing income” trust. We explain why these schemes fail, how the IRS and courts apply the economic substance doctrine, and why mixing up distributable net income (DNI) with taxable income is the fatal flaw in so many of these pitches. Most importantly, we show what real trust planning looks like so you can spot the difference between legitimate estate strategies and paper tigers that only create penalties, interest, and worse. Strohmeyer Law PLLC is a law firm based in Houston, Texas, specializing in tax law, estate planning, and probate law. Nothing in this video is specific legal advice for you. Watching or commenting on this video doesn't create an attorney-client relationship.