Bulletproof Trust Secrets
How To Convert an LLC into a Corporation
Many states offer statutory conversion allowing an LLC to convert to a C or S-Corporation by filing forms with the office of the Secretary of State. Once approved, LLC members become stockholders in the corporation, along with all previous assets and ...
Who Can Create a Bill of Exchange & How
Anyone can make a Bill of Exchange, but it is only of real use if it is accepted by the person directed to pay the amount. Here are some examples on Bills of Exchange and how they can be used.
What States Tax Vehicles and Can These Taxable Events Be Avoided
Yes, unfortunately a vehicle property tax must be paid because it is based on the vehicle’s assessed value if it were considered Clean Retail Value (CRV) according to the NADA Blue Book Value Guide. Therefore, even if the vehicle was purchased for ...
In What Countries Can The Trust Be Created and Used
A private irrevocable express trust can used in every country and created in any country where common law or civil law (including mixed systems of civil + common law) are found as the basis of the country's legal system. Below is a large image ...
How To Self-Insure A Vehicle
Virtually all states have statutes that outline the requirements for Self-Insurance or Private Passenger Vehicle Insurance. States often allow a cash deposit with the DMV (Department of Motor Vehicles) of $xx,000. The DMV will then issue a ...
What If The 'Section 645' Option Was Selected When Applying for EIN from IRS
To begin, the IRC § 645 election is irrevocable once made. This option is only for a qualified revocable trust (QRT) in order to defer the trust's income tax burden from one reporting year to another. If the trust is irrevocable a new EIN must be ...
Social Security Early Eligibility Qualification When Transferring All Assets Into Trust (SSI Resource Lookback Period)
Giving away or selling assets cheaply to qualify for disability early can make one ineligible for SSI. Doing this will have the agency penalize anyone by making them ineligible for SSI for up to 36 months (look back period). To qualify for SSI early, ...
What is The Merger Doctrine & How Does It Affect Trusts
The merger doctrine is a common law doctrine, under which all prior agreements between a buyer and a seller merge upon acceptance of the deed by the buyer. Under the doctrine, the deed becomes the sole binding instrument between the parties, ...
Can Someone Send A Crummey Letter and Withdraw Donated Funds Later
The Crummey Letter is a letter sent to the beneficiaries of an irrevocable trust informing them that a gift has been made to the trust and that they have immediate and unrestricted right to withdraw said assets. Crummey Letters classify the gift as a ...
Can a Single P.O. Box Have Multiple Entities or Trusts Listed There
Yes, but be aware that the service provider may limit the number of names or entities a single box can service.
What Is A Passive Trust
A passive trust gives legal ownership (including control) of assets like money or real estate to a trustee, who is then responsible for distributing those assets to a beneficiary at a predetermined date. In order to make a Bulletproof Trust passive, ...
Can Property Owned by a Trust be Homesteaded
A "Homestead Protection" exempts a specific dollar amount from a property's tax assessment valuation, thus lowering the property taxes owed each year. Most courts have held that a primary residence held in a trust can be eligible for homestead ...
How Should Investment Accounts Be Titled
Believe it or not, investment accounts require a proper title. Correct titling of accounts ensures ownership is structured properly. If the trust is to own the account, then the account must be titled under the name of said trust. Titling must be ...
Can A Trust Own Land in Costa Rica
Yes it can own land. Costa Rican law allows one to utilize a corporation, LLC or trust to own land even when this entity does not conduct actual business in the country.
Beneficiary Changes for Trusts
The beneficiaries are not named in the trust indentures themselves to keep this information private. This allows for a beneficiary change AFTER the trust indenture has been signed, changed at any trustee meeting in the Trust Minutes for the issuance ...
How Does The Bulletproof Trust Work in The United Kingdom (UK)
Due to contract laws within the country, the right to private contract (which is what a trust is) is protected by the following: Not only that, but the right to private contract is protected by both civil & common law as well - allowing the ...
How Does The Bulletproof Trust Work in Australia
Due to contract laws within the country, the right to private contract (which is what a trust is) is protected by the following: Not only that, but the right to private contract is protected by both civil & common law as well - allowing the ...
How Does The Bulletproof Trust Work in The European Union (EU) or Countries a Party to the United Nations (UN)
Due to contract laws within the country, the right to private contract (which is what a trust is) is protected by the following: Not only that, but the right to private contract is protected by both civil & common law as well - allowing the ...
How Does The Bulletproof Trust Work in Canada
Due to contact laws within the country, the right to private contract (which is what a trust is) is protected by the following: Not only that, but the right to private contract is protected by both civil & common law as well - allowing the ...
Can Someone Get Back (Reimburse) Child Support Payments to Child That Was Not Biologically Theirs
Even if the man dis-establishes paternity, the court may still not order the mother to reimburse the man for child support. The public policy regarding this is that the child should not be made to suffer due to the mother’s deception.
Does A Canadian with a USA-Based Trust Need a B-1 Visa
In short, the answer should be "NO" 99.9% of the time. To travel as a B-1 without a Visa, the visit must be for less than 180 days, and the individual cannot, in any way, be working or providing services in the U.S., or being paid in the U.S. If one ...
How to Open a Bank Account in Mexico
Opening a bank account is generally straightforward with the right documents, depending on the visa. Ask the bank in advance what documents are required. Generally, the following is needed: Passport Residency card (or tourist card/FMM) Proof of ...
Can A Trust Have a Driver's License
A trust cannot obtain a driver's license as it does not hold a physical form. Any human, who is competent enough to pass the state exams, can obtain the operating license. A trust can own the vehicle one drives as trustee, but not the license to ...
Is Right to Travel Covered in Any Programs
No. While the right to travel is guaranteed by both the US Supreme Court and Geneva Convention(s), it is not guaranteed by motor vehicle without a proper examination being passed. One may travel by bike, foot, commercial airplane or even pay another ...
Why Does PWA Think Cryptocurrency and NFTs are Dangerous
Because they are a fiat currency at best and a Ponzi scheme at worst. That is why we suggest physical assets like real estate, gold, silver, food, weapons, medicine over intangible goods. Understand that intangibles and fiat currencies can be traded ...
Can A Trust Be The Grantor of Another Trust
Yes, a sui juris (independent) trust can be the grantor for another trust; however, there are often complications that arise from such a structure. Many often use this type of trust to create a trust web, which could inadvertently create multiple ...
Does a Trust Have to File a Form 1041
The income requirements for trusts are very similar to the rules for estates. IRS Form 1041 is used to report any income a trust earns over $600. If a trust or estate earns less than $600 in income in a fiscal year, it is not required to file. In ...
Tax Liability Hack of The Elite
Lawful money redemption cannot be applied retroactively and one cannot file amended returns showing such without a penalty being assessed. So, there may be back-taxes and liabilities still owed for the years prior to discovering this tax secret. All ...
When To Put an Insurance Policy Into The Trust
Some have rather larger insurance policies with significant cash value, intending to keep those policies in effect for the death benefit. When applying for Medicaid for nursing home coverage, the state will count the value of those policies against ...
Can A Trust Own A Gun - Despite A Court Order Saying I Cannot Own A Gun
Anyone restricted of the "privilege/license" to possess a firearm by a court with proper jurisdiction, may not own a firearm until such restriction ceases. However, a trust may own a firearm and cannot have this right taken away by any court. For the ...
How To Dissolve a Bulletproof Trust
To dissolve a Bulletproof Trust, there are a number of steps to complete: Have a final Trust Meeting with a majority vote by all Trustees to dissolve the trust, per 6.16. Record this new bylaw and complete all unfinished Trust Minutes from prior ...
Creating Separate Trusts for Firearms and Home
Separate trusts should be created for the protection of one's home and any firearms owned. A separate trust established just for holding firearms is a great idea because guns and vehicles are the deadliest and lawsuit heavy assets anyone can own. All ...
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Trustee Powers Independent of Majority Vote of the Board
A Trustee may independently, without the majority vote of the Board of Trustees do the following: 1. Receive property into the trust; 2. Initiate a contract for services (provided notice is given to the Board of Trustees within 3 days); and 3. ...
Should An Annuity Be Placed Into A Trust
Fixed annuities are safe from lawsuits by creditors or anyone else, even the IRS. Since annuities are tax deferred, lawful money redemption is required to avoid any income taxes or penalties.
Chase Bank Did Not Approve Trust Bank Account
Unfortunately, due to the issues with Chase Bank stated below we are no longer recommending them. We've found that Chase is requiring the following (at the very least): 1. Article 14.02 removed. 2. All references to a "head/executive trustee" must ...
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, ...
Trust Terms To Change When Outside The USA
If one is outside the US or has different terms for their territories, there are only a few areas that need to be changed. Change 2.04& 3.01 to a Province or Territory rather than a State. 2.04 Original situs is the land known and within the ...
The Bank Is Requiring The Trust To Have an NAICS Code
525920 is the correct NAICS code the bank will require when setting up a trust bank account.
Where Should The Debtor/Creditor Agreement (UCC-1 / PPSA) Be Recorded
The USA & UK has the United Commercial Code (UCC) with its UCC-1 debtor/creditor filing system. Canada's equivalent is the Personal Property Security Act (PPSA). The location for filing depends on the debtor's address. If the debtor is in the USA - ...
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