Bulletproof Trust Secrets
Purpose of the UCC-1
A UCC-1 can be thought of as a financing statement giving notice to the public that the trust (or other entity) has a secured interest in the personal property that is being used as collateral in a secured transaction (via the Private Security ...
Simple Trust vs Complex Trust
Simple Trusts must meet criteria set by the IRS: Must be a non-grantor trust Must distribute income earned on trust assets to beneficiaries annually Make no principal distributions Make no distributions to charity Complex Trusts must do one of the ...
Trust Minutes Sample
TRUST MINUTES FOR [TRUST NAME] Minutes of a meeting of Trustees held on _____/_____/_____ at _____:_____ AM/PM. PRESENT: John Doe, Mary Doe, Jeff Doe CHAIR AND QUORUM: The meeting was chaired by _________ noting the quorum was present. NOTICE OF ...
Who Can Be A Beneficiary
Anyone (except a sole trustee) and any entity can be a beneficiary. If the sole beneficiary is a foundation, charity or other organization it may exist as a perpetual private express trust, thus avoiding the rule against perpetuities.
Who Can Be A Trustee
Anyone (except a sole beneficiary) and any entity can be a trustee, but be aware of having only one living trustee and the remaining positions are filled by corporations, trusts or LLCs.
What Pages Need Notarization and/or Grantor Signatures for The Bulletproof Trust
There are several grantor/notary signature pages contained inside Bulletproof Trust Secrets (Section 2). The pages are currently: 26, 41, 50, 57, 58, 59, 60
What Happens When Property, Businesses and A Spouse Go Through A Divorce
If one's spouse is on the deed to a property, owns a percentage of interest in an entity, then that spouse is entitled to whatever their percentage of ownership equates to in dollars. For the issuance of Capital Interest Certificates (CIC) in a ...
Can A Green Card Resident Still Be Trustee for USA Based Trust
Yes, a green card resident can be trustee for trust that has a US citizen as grantor and the situs of the trust is located within the United States.
Can Beneficiaries & Trustees Hold Capital Interest Certificates (CIC)
Yes, beneficiaries may exchange property into the trust like an investment; however, it is not suggested that a Trustee hold Beneficial Interest Certificates as this prevents the Trustee from holding Capital Interest Certificates without a fraudulent ...
Should The Credit or Debit Card Have The Trust or Trustee Name
Depending on the bank and type of card issued it may have "_______ Trust" or "_______ Trustee" or "_______ TTEE" on it. Any title that shows the account is linked to a trust/trustee is all that is required.
Can A Single Trust Have Multiple Bank Accounts & Accounts At Different Banks
Yes, one can open multiple bank accounts with a single trust.
Difference Between a Public vs Private Express Trust
An express trust is either public or private. A public trust, also known as a charitable trust, is an express trust created for a charitable purpose. A private trust is an express trust created to benefit a few persons.
When To Sign "Without Recourse"
When signing a document "John Doe, Trustee Without Recourse" it denotes to the contractual party that the trustee is not liable, personally or as a trustee, but that the trust is liable for all fiduciary and legal liabilities a contract may create. ...
How Does The Trust Reimburse A Trustee for Personal Funds Used to Make Purchases
The trust will make a note of the reimbursement in the Trust Minutes.
Can A Notary Be Related To A Signing Party
No. A notary cannot notarize any papers for a spouse, relative or anyone related by blood that is to be a grantor or trustee. The beneficiary may be the notary's son or daughter, but it cannot be the notary.
Union Bank in California for Trust Account
For students living in California, Union Bank will open up a trust bank account with zero review (thus guaranteed approval). Union Bank does trust accounts with non-interest bearing personal checking accounts only. While it is opened using a ...
Does The Bulletproof Trust Work in Canada
Yes, because Section 26 secures this inherent right. It gives recognition of a right or freedom pertaining to the private, non-governmental sphere – notably the right to enter into a private contract – as reinforcing analysis that the Charter does ...
Fraudulent Transfers via Fraud in Fact
Section 5 of the Uniform Fraudulent Transfer Act states: (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, ...
Fraudulent Transfers via Constructive Fraud
For a transfer to be a fraudulent transfer via constructive fraud according to UFTA (Uniform Fraudulent Transfer Act), it must say "YES" both of these questions: (1) Was there no exchange of reasonably equivalent value? FUFTA does not define ...
Where Does Banking and Interest Come From
Since ancient Greece, banks have paid interest on accounts. The deposits are legally regarded as loans account holders made to the bank. See Senate Document 43, 73d Congress, 1st Session, Senate Resolution 62, p. 4.
Does A Trust Supersede A Will & What If A Will Is Filed With The Courts
The trust is better if one desires to avoid probate. If the Will is filed with the court, the filing will need to be removed; otherwise, the filed Will may be misconstrued as the one's last testament.
How To Add Additional Trustees To Trust
Additional trustees can be added to the trust by filling out the form *APPOINTMENT OF ADDITIONAL TRUSTEE* and getting it notarized. Then in Schedule D mark down the Trustee's name, office and appointment date for records. Use Schedule E for Successor ...
Should One Give The Virtual Mailbox Company A Personal Name or The Trust's Name
Sign up personally under one's own name and tell the mailbox center the name of the trust's name that will be receiving mail.
Can Someone Help Fill Out The Trust Indenture
No. This is considered the practice of law and we are not attorneys or a law firm.
Must All Documents Be Notarized Before Opening The Trust Bank Account
Yes.
Can LLC or Corporation Be A Grantor for A Trust
A Corporation and LLC can be grantor for a statutory trust, but not a private express trust (i.e. Bulletproof Trust). Private express trusts require a living human being to be grantor. If the goal of using these statutory entities as grantor is to ...
Can Assets Transfer Directly From An Operating Trust to Holding / Master Trust & VIce-Versa
Due to the Private Security Agreements and UCC-1s, there is a debt obligation one trust must fulfill to another. These debt repayments are noted in the trust minutes of each trust – its that simple! The order of transfers should follow (forwards and ...
How Would The Purchase of Property, Home or Car Work With Trust
The trust can outright purchase the asset with cash/credit or it can seek financing - this requires building corporate credit. In most scenarios, someone will personally apply for a loan and then transfer the asset into the trust via a Quitclaim Deed ...
When Will A Private Security Agreement Need To Be Shown
Hopefully never, but if shown it will be for the judge to determine financial status(es).
Is Trustee Compensation Reported To IRS
Trustee compensation is a separate contract whose obligation is protected under Article 1, Section 10 of the Constitution for the United States of America. All Federal excise tax and state organization and franchise taxes are legally avoided except ...
When Should The Private Security Agreement and UCC-1 Be Completed
These agreements should be completed almost immediately after the trusts have been notarized and created. They are the literal links that chain together the impenetrable trust web.
What Happens to Capital & Beneficiary Interest Certificates When A Spouse Dies
Capital Interest Certificates: The certificates are passed on according to the deceased's Will, Trust or written wishes. If married (common law or statutory), the assets will naturally pass onto the surviving spouse. Beneficiary Interest ...
Spouse Jointly Own Property - How Does It Go Into The Trust
All parties must agree to place property (or any shared asset) into a trust; however, when owned in shares, an individual may transfer their portion into the trust without consent of the other parties, unless contractually barred from doing so. Upon ...
How is The Percentage of Capital Interest Certificates Determined
Typically a trust will issue a set of certificates to raise capital for itself. The number of certificates may increase in the future when seeking additional investing; however, the first set is a pre-determined number and used for issuing units ...
How Do Trusts Without Bank Accounts Pay Trustees
Payments can be made physically and accounted for in the trust minutes.
Should Personal Bank Accounts Be Closed After Opening The Trust Bank Accounts
There is no reason to close any personal accounts, unless there are creditors or judgements against the person seeking monetary compensation.
What Is A Private Trust Folder, Why Get It and Where
The private trust folder helps separate personal possession from possession as a trustee. This private express folder should typically have a locking mechanism if possible, although it is not required. Typical places to get these types of bags are ...
Are Insurance Policies (Homeowners, Liability, Umbrella) Held In A Home Trust
Only if the trust owns / is titled on the home (whether mortgaged or paid in full).
Is An Authorized Representative Necessary
It is not required. An authorized representative only adds a layer of privacy.
What Are The Benefits of Private Insurance & Holding The MCO / MSO For A Vehicle
The Manufacture's Certificate of Origin (MCO) or Manufacturer’s Statement of Origin (MSO) can be obtained from the original manufacture / authorized dealer (i.e. the Kia dealership has the MCO / MSO for their Kia cars but not for other brands on ...
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