Is a Web Structure Needed for a FBO/Church
A trust can own land or assets in lieu of the church. A trust web is a double-veil of protection for assets. It is a good security to have in cases of trustee incompetence or catastrophic failure of the entity due to unforeseen reasons.
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Understanding the Trust Web
The trust web is the structure of one's estate plan that allows for the protection of wealth through the use of the Irrevocable Private Express Trust and the redemption of lawful money. The web is created by the execution of the Operating Trust, ...
Can The Bulletproof Trust Be Used as A Free Church
While the trust can be used as a charity trust, one cannot use the indenture to create a faith based organization (FBO). Elite Tax Secrets has the paperwork specifically for 508c1a churches and a FBO.
Doesn't An FBO (Faith Based Organization) Need A Minister To Qualify As A Church
Yes, but a synonym for minister is someone who is an administrator of a trust. The administrator and minister mean the same thing. Therefore, by being an admin for the trust - one also qualifies as the minister of that trust.
508c1a vs Trust - Which Is Better
A 508(c)1(a) / FBO (faith based organization) is for religious organizations. A trust is universally applicable for almost any situation or entity. Both offer similar protections. To further clarify a church can be a trust and a church can be placed ...
Can Operating Trust Take Place of C-Corp, LLC or S-Corp
Yes, Operating Trusts can take the place of a C-Corp, S-Corp or an LLC in a trust web structure, and vice-versa.