NVDA Custom Crackdown & Special Needs & Spendthrift Trusts, LFG Daily - October 10, 2025

Colin Symons, CIO Lloyd Financial Group

China launched a customs crackdown on NVDA chips, leading Trump to say maybe we should import less from China. They are also probing QCOM on a suspected monopoly.

The BLS brought workers in to produce a CPI report despite the shutdown, according to Bloomberg.

The BoJ talked down the recent yen move, causing the Nikkei to go down -2%. The also saw PPI at 0.3% m/m vs. exp. 0.1%, which certainly doesn’t help.

The steady rise in the dollar from rate differentials seemed to crack sentiment, yesterday, but is starting to head down a bit today after the DXY dollar index fell just short of 100. Gold also got knocked down, below $4,000, but is back over that, this morning.

UofM Consumer Sentiment and more Fed speakers, today.

What does it all mean? More consolidation after a big run. It seems to me like we’re mostly waiting for a real catalyst, like a shutdown resolution or earnings, while making relatively minor moves on things like shifting rate expectations.

Luke Lloyd, CEO Lloyd Financial Group

Spendthrift & Special Needs Trusts: Protecting Loved Ones from Themselves—and the System

When it comes to protecting wealth for the next generation, many families face a difficult reality: not every heir is ready to handle money responsibly—or capable of managing their own affairs. That’s where Spendthrift Trusts and Special Needs Trusts come into play.

Spendthrift Trust: Protecting Beneficiaries from Poor Decisions (and Creditors)

A Spendthrift Trust is designed to safeguard assets from a beneficiary’s own financial missteps.If you have a loved one who struggles with budgeting, addiction, debt, or simply lacks financial maturity, this type of trust gives them access to funds—but under the supervision of a trustee.

The trustee controls how and when money is distributed, preventing the beneficiary from wasting the inheritance or pledging it to creditors. The assets in a Spendthrift Trust can’t be seized by creditors or lawsuits, since the beneficiary doesn’t have direct control.

Example:A parent sets up a Spendthrift Trust for their adult child who has a history of overspending. The trust pays for living expenses and education but restricts lump-sum withdrawals. This way, the child benefits from the wealth without the risk of losing it all.

Key Benefits:

• Protects the inheritance from creditors, lawsuits, or divorce

• Ensures assets are used for meaningful purposes

• Allows for professional management through a trustee

  
  

Special Needs Trust: Preserving Government Benefits for Disabled Individuals

A Special Needs Trust (SNT) serves a different but equally important role. It’s designed for beneficiaries with disabilities who receive (or may qualify for) government assistance programs like SSI or Medicaid.If you give assets directly to someone receiving these benefits, it can disqualify them. But a properly structured SNT allows assets to be used for their benefit—without jeopardizing eligibility.

There are two main types:

• First-Party SNT: Funded with the beneficiary’s own assets (e.g., from an injury settlement).

• Third-Party SNT: Funded by someone else, usually a parent or relative, often as part of an estate plan.

Funds can be used to improve the beneficiary’s quality of life—covering things like therapies, transportation, entertainment, or specialized care—beyond what government programs provide.

Key Benefits:

• Maintains eligibility for SSI, Medicaid, and other benefits

• Provides long-term management and oversight

• Enhances quality of life for a loved one with special needs

  
  

The Bottom Line

Both Spendthrift and Special Needs Trusts are about protection—but for very different reasons. A Spendthrift Trust shields wealth from poor money management or creditors, while a Special Needs Trust safeguards a loved one’s benefits and wellbeing.

For families who’ve worked hard to build wealth, these trusts can ensure that money does what it’s supposed to do: support loved ones responsibly and sustainably.

Before setting one up, consult with an experienced estate planning attorney and a financial advisor who understands the long-term implications of trust design and tax strategy.

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