What is an Irrevocable Trust?

Have you been asking yourself: what is an irrevocable trust?

If you’ve been keeping up with our blog posts, you’ll know we’ve been fortunate enough to witness the finances of some incredibly wealthy people.

The one thing that made us a believer in “A Grand Conspiracy” was discovering a certain kind of trust…

This trust allowed billionaires to ‘escape’ without paying most taxes and secure ALL their assets from creditors and other litigious parties.

These were private irrevocable express trusts.

What is an irrevocable trust?

An irrevocable express trust is a legal arrangement in which a person (the grantor or settlor) transfers ownership and control of their assets to a trustee for the benefit of designated beneficiaries. Irrevocable trusts do not end until the trust purpose is fulfilled. And unlike a revocable trust, which can be changed or revoked by the grantor during their lifetime, an irrevocable trust can only be changed with the consent of the beneficiaries and the trustee(s).

Then we saw Mark open a trust structured very similar to theirs…

Only he didn’t know there’s a way you operate a trust that distinguishes YOU… as being separate from THE TRUST.

Again, if you don’t have the right language, bookkeeping and operations – then it won’t stand up like the elite’s!

Key characteristics of an irrevocable express trust include:

1. Irrevocability: The grantor will relinquish all control and ownership rights over the assets placed within the trust. This inability to make changes without the beneficiaries’ agreement is what sets it apart from a revocable trust.
2. Express Intent: The trust’s terms, conditions, and purpose are explicitly spelled out in a trust agreement or document. The grantor outlines how the trust assets should be managed, invested, and distributed among the beneficiaries.
3. Fiduciary Relationship: The trustee has a legal obligation to manage the trust assets and make decisions that align with the best interests of the beneficiaries, as outlined in the trust agreement. The trustee must act in a fiduciary capacity, putting the beneficiaries’ interests before their own.
4. Beneficiaries: Individuals or entities who will receive the benefits of the trust assets. These benefits might include income generated by the assets, distributions of the principal, or specific uses outlined in the trust agreement.
5. Purpose: Irrevocable trusts are often used for various estate planning goals, such as minimizing estate taxes, protecting assets from creditors, providing for the long-term care of beneficiaries, or ensuring a controlled distribution of assets to heirs.
6. Tax Implications: Depending on the jurisdiction and the specific terms of the trust, there may be tax advantages associated with irrevocable trusts. For example, assets transferred to an irrevocable trust might be excluded from the grantor’s estate for estate tax purposes.

(In the end, due to the fact that Mark had not distinguished himself from the trust AND was negligible in his accounting, it resulted in $496,000 of his assets being frozen.)

It’s MUCH EASIER to PREVENT assets being seized than the other way around.

That’s when we realized we almost made a HUGE mistake in going public with this information so quickly…

Because “THEY” don’t care if us plebeian-humans (that’s what they call us) create a trust like theirs… they know most won’t USE IT CORRECTLY!

Weiss took a step back and learned even more from what these ultra-wealthy individuals did when operating their trusts.

After many months of research he started seeing it all fit together like a formula…

Weiss tracked everything he could find for these ultra-elite… like the good P.I. he was.

And we spent every waking moment researching…

Every new pattern discovered became another piece of the puzzle.

Until eventually – he had an epiphany.

He realized all that truly mattered… was the language.

Quickly we began to re-focus on the wording for each part of the irrevocable Express Bulletproof Trust.

Our legal research team studying legalese really picked up on the nuances of the language.

Legalese SOUNDS like English, but has DOUBLE MEANINGS that were very different from a “Webster’s dictionary definition”.

For example, did you know – the word “PERSON” doesn’t mean you, the human…

The word ‘person’ (legally speaking) actually refers to a CORPORATION with a Social Security Number or EIN.

See how confusing they make it?

To the layperson it seems like silly semantics but think again!

Every word matters.

Like a secret code, we began to break the hidden meanings.

We started developing a guide that would walk people through this treacherous word play (which is now part of the Bulletproof Trust program).

The language of the trust indenture is the foundation and “rule book” for the trust which the board of trustees is held accountable to uphold.

After thousands of hours of research and court cases, we came to understand that it all boils down to the WAY ONE RUNS the trust that makes all the difference.

That’s when we began to see how unbeatable the Bulletproof Trust is!

In fact, there were a number of benefits that we never even knew about because of the hidden meaning in the legalese.

In another post I’m going to share with you ALL these hidden benefits we found…

If you find yourself still asking: “What is an irrevocable trust?” and you haven’t had the opportunity to watch the entire Bulletproof Trust workshop yet, take a moment for that now. It’s a real eye-opener.

Your friends in finance,
Private Wealth Academy