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"Please understand my responses regarding Trusts and your ability to exchange is not mentioned so you can avoid establishing a Trust beforehand, there are two members of SOW that provide Trusts with methods of paying over a schedule of time vs lump sum so please explore your options as what they will do will be directly addressed to your needs and not a one trust fits all concept." Texas Snake
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People who have assets (money, gold, jewelry) and they also have liabilities (cars, houses, businesses) need Trusts so they can INSULATE the assets and ISOLATE the liabilities. Without separating assets and liabilities into separate Trusts, the assets (gold or money) can be reached for settling a claim against a liability (like a car accident), but when properly isolated and insulated, there is more financial security. PLUS, when you have a Charitable Religious Trust, the IRS tax on a currency exchange drops from 37% down to ZERO "Bernie Besherse
Bio-Link Bernie Besherse
Wills and Trusts are the primary tools of Estate Planning for most individuals and families. Wills, however, are subject to probate costs and estate tax, both of which drain the Estate of considerable wealth. Wealth that is intended for the heirs, and not the state. That is why Trusts have become a favored vehicle for wealth preservation and Estate Planning. Trusts provide a level of privacy that a Will cannot, because they do not go through the probate system. Properly constructed, they also provide protection from liability from lawsuits as well as the previously mentioned probate and estate tax relief. Since Estate taxes can be up to 55% of the value of the Estate, these benefits are significant for the beneficiaries, and for fulfilling the wishes of the Grantor to the Trust. In anticipation of the transition of the systems of government, law, and finance to an environment based upon sound, asset-backed currency, I have developed trust educational materials under the original Common Law. Please take the time to avail yourselves of the educational materials that are provided at minimal or no cost to prepare yourselves for your RV/GCR appointments. Bob Lock
Bio-Link Bob Lock
As Texas Snake has indicated, the Trustee benefits are only needed to be specified in your Minutes. There are plenty of "sample clauses" on the internet to use for the medical expenses benefit to Trust members and their immediate families. Just make sure that the Trustee has the authorization to give benefits, that the Trust does not limit the Trustee benefits; And if you intend to extend the benefit to other persons, you made them aware of any government social benefit or tax implication to the intended person. Attached please find a generic Sample Minute, but there are more styles of minutes available on the internet. Just specify the benefits paragraph or benefits at the Minute. It is advisable to do one Topic per Minute.
"I have noticed some discussions regarding Trusts and their applicability of use for the exchanging of currency into USN's and if the banks will accept certain Trusts. As a matter of your options may I suggest certain items to consider. It is a given that we will initially be exchanging through Tier One banks. Almost every Tier One bank I am familiar with has a Trust Department the bank that specializes in establishing Trusts, accepting existing Trusts for management, as well as providing investment vehicles for the consideration of the Trustee. If you have questions about any Trust you have established and know the bank you plan on exchanging with, then call that bank ahead of our exchange date and schedule an appointment with the Head of the Trust Department and let them examine your Trust instrument to assure yourselves that your Trust will be acceptable. There is no cost for this service, and it will provide a little experience with dealing with a wealth manager."
Seeds of Wisdom Team Community