 The Vault TRUST YOUR ASSETSTRUST PRODUCTS VORTEX BANKING TRUST LIVEIWS BENEFICIAL TRUST LIVEIWS BUSINESS TRUST WHAT IS A TRUST?Basic Trust Information TRUSTS legal entities that can be used to transfer and manage property or assets. It is an ingenious entity empowering Trustees of the Trust to have and hold all control over that property or assets. The terms and conditions of the Trust strictly define the form of the trust used and the needs of the people it is created to serve. TRUST ESTABLISHMENT consideration of some type is transferred from a Settlor to another person (known as the trustee) with the understanding that the recipient will hold the property and assets or use them in a way that is directed or established as laid out in the terms and conditions of the trust. Anyone who benefits from the use of the property or assets is known as the beneficiary. TRUST ESTATE The property or assets that are transferred to a trust becomes the trust corpus. The Trustee of a trust is the only entity that can affect the transfer of assets, property or monies to a trust. A trust estate consists of all of the property (tangible or intangible), assets, cash, rights and obligations that are transferred to the trust. The trust estate is managed in accordance with the terms and conditions of the documents creating the trust. Because the property is held in trust it is generally not subject to turnover*. PARTIES TO A TRUSTThe SETTLOR sometimes called the Creator, Grantor, Settlor or Trustor, is any person who creates a trust for the benefit of beneficiaries. To establish the trust, and realize the protection afforded, the trust should be established through an initial funding by a settlor, someone who cannot be the trustee or the beneficiary. After the trust is established, the trustee may convey additionally assets, tangible and intangible, to the trust for the benefit of the beneficiaries. The TRUSTEE is a person, financial institution (such as a bank or trust company) or managing entity that holds the legal title in trust for the trust estate. There may be one or more trustees. If a trustee is unable or unwilling to serve then a successor trustee steps in to hold and manage the trust estate. The trustee is obligated to act in accordance with the terms and conditions of the trust for the benefit of the trust beneficiaries. The BENEFICIARIES are the persons or entities which benefits from the trust estate. The rights of beneficiaries depend on the terms and conditions of the trust. Beneficiaries have no “equitable title” only a “beneficial interest” in the property or assets held in the trust. Beneficiaries have no right of management of the trust nor have any right to have access to business records or knowledge of trust business or actions.
“The Secret to Success is to Own Nothing,but Control Everything!” Nelson RockefellerCOPYRIGHTED SPENDTHRIFT TRUSTBasic Information Trust Parties- Settlor has no rights or beneficial interest in the Trust.
- Trustee may disburse funds to the beneficiaries in equal amounts, unequal amounts or not at all at his/her absolute discretion.
- Beneficiary may be anyone or any organization named in the Trust Documents.
 Compliance Overseer- Can be the trustee (as long as he/she is not the Settlor of the trust).
- Can appoint another party to be the trustee; however, they can still replace the trustee that he/she has appointed..
- Can appoint or remove any beneficiary at will.
- May never be a beneficiary.
- Can appoint his/her successor at any time during his lifetime.
- If a Compliance Overseer does not appoint a successor, then upon his/her death, the office disappears. Yet, the existing appointed trustee and the beneficiaries remain the same.
Once the assets are placed into the trust, no court or entity can remove them. Spendthrift Trusts have proven to withstand court judgments, divorces, bankruptcies and lawsuits. These trusts have been successful in preventing creditors from attaching trust assets. Trusts can own and trade government securities, stocks, and bonds, gold precious metals or any other form of asset. The trust can hold, buy or sell real estate.  Taxes- When money or assets are given to the trust for it to be capitalized or endowed, no taxable event has occurred. The trust pays taxes only on what the assets earns unless deemed to be paid to the corpus according to the terms and conditions of the trust, which is discretionary.
- Monies paid to beneficiaries are a taxable event to the beneficiary from the endowment funds of the trust according to their income level if earned income is the distribution; only the monies that a trust earns from the endowment and are undistributed to the beneficiaries are taxable to the trust if retained by the trust unless deemed to be paid to the corpus according to the terms and conditions of the trust. IWS Trust Format is a discretionary trust and complies with this IRS regulation.
- Any monies that the trustee distributes from the original endowment of the trust to the beneficiaries are a nontaxable event for the trust. The monies that the trust earns are taxable unless deemed to be paid to the corpus according to the terms and conditions of the trust.
- Trusts are required to file federal income tax returns. Form 1041 is used. However, a Spendthrift Trust is a complex trust and the capitalizations or endowments of the trust are not taxable events and deemed to be paid to the corpus according to the terms and conditions of the trust. Capitalizations or Endowments are retained indefinitely and only distributed by the trustees of the trust to the beneficiaries at the sole and absolute discretion of the trustees only. All capitalizations or endowments of a trust that are retained in the corpus are not a taxable event.
MAIN ADVANTAGES OF SPENDTHRIFT TRUSTS - It is EASY TO ESTABLISH, can be maintained by you and involves minimal paperwork. It greatly reduces or eliminates fees.
- Every aspect of it is LAWFUL & GUARANTEED by the U.S. Constitution, Supreme Court and other court decisions.
- It is LAWFUL IN EVERY STATE. Spendthrift Trusts properly established in one state can operate in any other state.
- It is MADE IRREVOCABLE to avoid any questions as to ownership of the assets.
- It PREVENTS ANY INFORMATION FROM BECOMING PUBLIC regarding your assets, liabilities and heirs.
- It CAN OPERATE ANY LAWFUL BUSINESS ANYWHERE IN THE WORLD. It has limited liability and most of the advantages of a corporation with none of the disadvantages.
- It has NO PERIODIC REPORTS OR ACCOUNTING to make to any state or government.
- It has the SAME CONSTITUTIONAL RIGHTS AS AN INDIVIDUAL, that is, the right to privacy, freedom from unwarranted search and seizure, to refrain from self-incrimination and all other rights.
- When the Spendthrift Trust is used in a legal manner and under the provisions of the Spendthrift, it is TOTALLY IMPENETRABLE by creditors, agencies, governments and is immune from transfer by operation of law.
- Your personal BANKRUPTCY HAS NO EFFECT on the Spendthrift Trust assets.
WHO CAN BENEFIT EVERYONE !PROFESSIONALS - DOCTORS, DENTISTS,
CHIROPRACTORS, ENGINEERS, ETC.- Reduce or eliminate the need for liability insurance
- Render yourself virtually judgment-proof
- Potentially controls your taxes
- Maintain privacy
RETIRED PERSONS- Potentially reduce income taxes
- Maintain privacy
INVESTORSProtect your investments from a financial reversal FOREIGNERSMaintain privacy while enjoying the benefits of controlling Real Estate in the United States Interesting FactsA contract in the form of a Spendthrift Trust Organization, DOES NOT OWE ITS EXISTENCE TO ANY ACT OF THE LEGISLATURE. The authority for its creation is the common law right of the parties to enter into a contract which the Constitution recognizes. According to American law, the government cannot regulate or impose a tax upon a right. Our "RIGHT TO CONTRACT" according to the Constitution of the United States, Article. §10 is UNIMPAIRABLE. That means that it is not within the power of the government or even a judge to change one word of a Contract of Trust. Once the property is transferred into a Spendthrift Trust Organization, it is subject to its own indenture, which governs and, protects the property held by it. The government can ONLY regulate and tax entities it creates. - A Spendthrift Trust Organization has the income tax requirement to pay only the tax on the income money that the corpus or endowments of the trust earns unless deemed to be paid to the corpus according to the terms and conditions of the trust. If set up properly, all capitalizations or endowments of the trust are nontaxable. Like corporations, Revocable Living Trusts are statutory and are subject to legislative control and taxation. A Revocable Living Trust is required to file a 1041 Form each year. While the income in a corporation is taxable and the endowments to a Revocable Living Trust are taxable, capitalizations or endowments to a Spendthrift Trust are not.
- In Weeks v. Sibley DC 269£, 155, Edwards V. Commissioner. 41512£!, 532 10th Cir. (1969) and Philips v. Blanchard 37 Mass 510, the courts ruled that a Spendthrift Trust Organization is not illegal even if formed for the express purpose of reducing or deferring taxes Edison California Stores, Inc. v McColgan. 30 Cal 26472.183 P2d 16. ruled that persons may adopt any lawful means for the lessening of the burden of income taxes; The Department of the Treasury, IRS Handbook for Special Agents § 412, Tax Avoidance Distinguished from Evasion states; “Avoidance of Taxes is not a criminal offence. Any attempt to reduce, avoid, minimize, or alleviate taxes by legitimate means is permissible”.
- Pursuant to Narragansett Mut. F. Ins. Co. v. Burnhamun 51 r1371, 154 a 909, It is not an evasion of legal responsibility to take what advantage may accrue from the choice of any particular form of organization permitted by law.
- A Spendthrift Trust is not considered a taxable "Association" pursuant to tax law. Black's Law Dictionary defines Association as follows: "What is designated as a trust or a partnership may be classified as an association [only] if it clearly possesses [all] corporate attributes. Corporate attributes include: [1] centralized management, [2] continuity of existence, [3] free transferability of interest, [4] limited liability. A Spendthrift Trust Organization is not an "association" or an “unincorporated association," because it does not possess the same attributes of a corporation, such as continuity of existence and free transferability of [beneficial] interest. Further, unlike a corporation, a Spendthrift Trust Organization is not an "artificial entity" nor does it owe its existence to the charter power of the State.
- A Spendthrift Trust Organization is also not an alter ego or a nominee for any trustee or beneficiary because no one individual holds both legal and equitable title and beneficial interest.
- Another major advantage to operating a Spendthrift Trust Organization as a business is that, because it is not a creature of the legislature, it is not subject to the myriad of strangling legislative controls, rules and regulations that are applicable to corporations and other legislative entities. The Supreme Court case Eliot v. Freeman 220 US 178 ruled that a Spendthrift Trust Organization is not subject to legislative control. The Supreme Court holds that the trust relationship comes under the realm of equity based on common law and is not subject to legislative restrictions as are corporations and other organizations created by legislative authority.
SEE IF YOU QUALIFY &
SCHEDULE RIGHT AWAY!
|