What’s the simplest and cheapest way to set up a crut for someone that wants to add to it on a monthly basis, does not have the self control to be allowed to withdraw principal from it, and down the road wants to rely on it’s interest for income.
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Thanks! Question: If I set up the bank account what mechanism stops me from going in and depleting the principal?
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Nothing, but then you'd get in big IRS trouble.
End of conversation
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