Paying too much in taxes? Consider using a Tax Shelter instead to Legally and Lawfully minimize your Tax Liability under IRS code.
Worried about Lawsuits? Want to shield your business, property and financial assets and go into Private Status, away from the public and creditors? No Secretary of State fees, or Registered Agent.
Setting up a trust is a favorite strategy of estate planners as it creates a way to avoid probate when assets are transferred after the death of the individual who set up the trust. A trust is a type of legal entity that is separate from your own personal estate. This legal entity has certain rights and advantages for those engaging in estate planning.
What is a Trust?
A trust is a type of legal entity that is set up to hold property or assets for the benefit of an individual. The person who sets up the trust, or the grantor, puts the assets in the possession of another individual, known as the trustee. The trustee then watches over the assets in the trust and eventually may transfer them to a beneficiary. A trust is set up by creating a legal document and transferring ownership of property over into it.
Holding Property
A trust is a legal entity that can hold property. The trust can hold many types of property such as real estate, stocks, bonds, cars, cash and other personal assets. When you set up the trust, you must transfer the ownership of the items over to it. For example, you set up a new bank account with the name of the trust instead of your own name. You transfer the deed to your real estate over to the trust.
A trust, which is a commonly used estate planning tool, does not legally exist until property has been transferred to the trust. Technically, the trustee of the trust holds legal title to all trust property. The beneficiaries of the trust hold what is called equitable title, which basically means the right to benefit from the property. Because the trustee owns legal title, the trustee is the person who is actually named on the paper title to the trust property.
Transfer Trust Property to the Trustee
Identify all trust property in the actual trust agreement. Most trust agreements include an appendix that contains a schedule of all trust property.
Prepare a deed or bill of sale transferring title to the trustee. For real estate, a deed is required, while for personal property a bill of sale or simple conveyance agreement will suffice.
Identify the trustee as the grantee in the deed, bill of sale, or conveyance agreement, using the following designation: "[Insert Name of Trustee], as Trustee of the [Insert Name of Trust] Trust."
Inform any related parties of the property transfer. For example, if you have transferred a bank account or insurance policy to a trust, you will need to inform the financial institution or insurance company of the transfer of title to the trust.
Record a copy of the deed, if required by state law. Generally, most state laws either require or provide legal protection for recording a deed on the transfer of real estate title. Recording means filing a copy of the deed in the local county public property records. Recording is not necessary or helpful for personal property transfers.
Apply the "Rockefeller" Strategy, “own nothing, control everything.”
All you need is:
1) the Legal Name of the Creator/Grantor (probably you)
2) Choose a person's Name to be the Trustee (this could also be you)
3) Choose a proper Name for your Trust (It will have the word "Trust" at the end)
4) a Mailing Address for the Trust (cannot be a PO Box)
With this info we will create a Federal Employer Identification Number (FEIN) to complete your entity so you can open up a bank account and conduct business, all within your Tax Shelter entity.
Get started NOW before something happens you could have been protected from!
