Want to Learn How to Operate a Trust? – AVOID THESE GUYS!

When it comes to knowing how to operate a trust, accuracy is KEY!

In yesterday’s post we’ve shared the 6 most common (and costly) trust myths to avoid.

We also promised we’d reveal the scammers that are teaching inaccurate information about trusts so you can avoid getting duped, establishing a fraudulent sham trust & possibly end up in hot water / jail. ***It’s not often that we name-names but when people are giving out wrong information on sensitive topics such as finances & legal topics we think it’s important.

***This post was written by Paula F. – a big thank-you to her for letting us share her personal experience and honest thoughts.***

Today I’m sharing my personal review of Liberty Aid Academy taught by John J. McCaig (a.k.a. Jack McCaig).

I found Liberty Aid Academy on YouTube a few months ago. I found many of John (or Jack’s) videos interesting and sought out their website to learn more.

► LACK OF INFORMATION
After purchasing their Trust 101: Foundation & McCaig Mastery Courses I was very underwhelmed to say the least. For the price tag I was expecting more information on how to operate my trust but

 I only received a 10-page document with vague instructions to set it up…

► SHORT-TEMPERED & RUDE
If that weren’t enough, when it came time for my consultation, I had my questions ready to go but I found John/Jack to be extremely short (tempered) and a bit rude when I asked for clarification. To me, that’s completely unacceptable. After paying over $2,000 I expect a certain level of customer service and professionalism…

► THEY DON’T OFFER REFUNDS
After discovering they don’t offer refunds (HUGE RED FLAG) and getting frustrated with their “support”, I began seeking answers elsewhere…

► INACCURATE (and ILLEGAL) ADVICE
It didn’t take me long to find out that much of the advice Jack is providing is not only inaccurate – some of it is downright ILLEGAL! And yet he still charges $$$$ for this garbage.

For example… I asked Jack if it’s okay to have the grantor, trustee and beneficiary as the same person for an irrevocable trust? He got very short with me and said ‘Yes! Haven’t you done your homework? – that’s how I’ve done it for years.’

Well, it turns out – if I had taken his advice,I would have created a grantor trust, and as you learned earlier – grantor trusts DO NOT pass “The Control Test” in court…

I also asked if it’s okay to apply for credit cards in the trusts name…

He said ‘yes, you can. If you’ve watched any of my videos you’ll know I’ve been doing it for years.’

Except that it’s NOT OKAY – if you apply for credit cards with an irrevocable trust – that can transfer the private jurisdiction of the trust into the public thereby destroying the security & protection of the trust, leaving assets open for seizure.

Here’s where the illegal advice comes in…

He also states that anyone can establish a 508(c)(1)(a) Faith Based Organization or 503(c)(3) Church to be tax exempt…

WHOA! If you’re not actually a religious organization – THAT’S ILLEGAL and can land you in JAIL!!!

[Giving legal advice is “practicing law” and can land people in jail for years. Even worse, once someone is caught doing this – the IRS/Federal Government often goes after their customers next!]

I could go on and on. But for the sake of time, these are just A FEW of the questions I asked & almost every answer he gave was incorrect! Luckily I’m the type of person to do my due diligence before taking action – otherwise, I might be sitting in a jail cell right now…

Considering Jack used to be an accountant I’m SHOCKED at the lack of accuracy and professionalism.

It’s clear Mr. McCaig & Liberty Aid Academy are NOT well-versed in trust law & are NOT concerned about truly helping people operate a legal trust that will actually hold up in court.

From what I’ve seen of his materials & behavior  – this is one educator I recommend staying FAR AWAY from!

IMPORTANT NOTE: If you’ve bought from Liberty Aid Academy or Jack McCaig – we recommend you try and get your money back. 

If you want to learn how to operate a trust properly…

Then seek out accurate (and comprehensive) trust education like the Bulletproof Trust from Private Wealth Academy. These guys know what they’re talking about! I really enjoyed their program and think you will too.

We unfortunately have another scammer to add to the list: Frontier Capital Trust frontiercapitaltrust(dot)com. This company seems to have simply copied Jack McCaig/Liberty Aids materials and quickly slapped up their own website. (The 3 times they spam emailed us – not one of their links worked). There’s not much else we can say except we recommend avoiding Frontier Capital Trust.

Your friends in finance,
Private Wealth Academy