Category: Bulletproof Trust
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The TRUTH About Common Law Trusts
MYTH #2 – A Common Law Trust cannot be pierced FALSE. Just because it’s a Common Law trust doesn’t mean it can’t be pierced. If it’s not a private Express Trust, it can be pierced and the assets will most likely be seized. What this boils down to is… Also, any trust which is founded in common law –…
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This RISKY Express Trust Mistake (COULD land you in jail)
Express Trust Myth #3 – It’s okay to apply for credit cards in the trust’s name. Have you been told that you can apply for credit cards with a trust? If so, this is FALSE. Applying for credit cards in the trusts name (especially if it’s a private express trust like the Bulletproof Trust) is considered receiving a benefit…
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Avoid This Common Private Express Trust Mistake
Private Express Trust MYTH #4 – It’s okay to mix trust & personal funds. FALSE. It’s absolutely NOT okay! Commingling personal & trust funds is a HUGE NO-NO! Always keep trust assets, funds and bank accounts separate from personal (or business) ones. Why? Because if for any reason the trust were to end up in court, you want to be…
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Is It Necessary to Keep Trust Minutes?
MYTH #5 – Keeping Trust Minutes Isn’t Necessary FALSE. It’s the duty of the trustee(s) to keep minutes for all resolutions, decisions, and acts done in the administration of the trust. This is a form of accounting, and may suffice as the accounting, however, it is recommended that some separate, more detailed accounting be kept. It…
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PROOF The Elite Use Trusts to Protect Assets
Have you ever wondered how wealthy people like the Rockefellers are so good at protecting their assets?For literally CENTURIES? How they’re capable of making insane money while keeping their assets & businesses totally untouchable to outsiders? How they can virtually GUARANTEE their assets will NEVER be seized or taken from them. Believe it or not, there’s ONE method that the wealthy elite…
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Attorney-Drafted Trusts Could Reduce Your Asset Protection
Who would you trust to manage your money? Having a little bit of mistrust can be a useful tool. For example, most people are at least a little wary of the government and legal systems in place in our nation — and for good reason. These entities have the ability to exert complete control over citizens.…
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When a 501(c)(3) Could Get You 5 years in Jail
MYTH #6 – Anyone can be a 501(c)(3) Church (Out of all the myths we’ve covered thus far – this one is by far the most serious and can actually result in jail time. PLEASE READ CLOSELY) FALSE. Not just anyone can establish a 501(c)(3) Yes, Faith Based Organizations do get tax exemptions. However, if…
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Express Trusts vs. Corporations
Ever wonder how business organizations such as corporations stack up against private Express Trusts?Today we’re going to break it down for you. Before we get into it – we need to clarify that while we’re primarily referring to corporations today, the same remains true for all organizations which owe their existence to legislative acts, not limited to: Limited…