10-03-2005, 01:03 PM
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Originally Posted by TheBlackTruth
Pure, Common Law Trusts are very powerful structures. Used properly they are nearly impossible to pierce.
They are good for holding property, but that's about it, though. You can't effectively do business with a Common Law Trust without exposing it to liability. This is why business structuring with multiple entities is important.
-BT
p.s. If you want information on setting up Trusts or other entities, gimme a hollar in private.
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How about a trust to protect property from Medicare/Medicade if you go into the nursing home?
Marha |
10-12-2005, 09:38 PM
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Unplugged
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Join Date: Jul 2005
Posts: 95
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I've drawn up a Pure Trust (private contract), and wondered if anyone knows how effective a "layered" Trust situation might be for added asset protection? For example, a vehicle is owned by Trust "D". That Trust is owned by another Trust, "C". That Trust is owned by yet another Trust, "B". Finally, that Trust is owned by Trust "A". Trusts "A" and "C" each have a $50,000.00 non lis pendens commercial lien against the vehicle owned by Trust "D".
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10-13-2005, 06:27 AM
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The Outta Commissiona
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Join Date: Oct 2004
Location: Florida Republic
Posts: 5,417
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Quote:
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Originally Posted by marha
How about a trust to protect property from Medicare/Medicade if you go into the nursing home?
Marha
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I have heard of attorneys using trusts to detach assets so that people would be eligible for medicade
However, in my OPINION, medicare adn medicade is socialized medicine which gets people doped up or slowly killed by the medical profession
If Uncle Scam didn't extort money from people, people could sock it away into the program or health practitioner of their choice with out a rapist government doing all of the thinking for them while their getting paid off by the AMA |
10-13-2005, 06:29 AM
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The Outta Commissiona
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Join Date: Oct 2004
Location: Florida Republic
Posts: 5,417
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Quote:
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Originally Posted by hooded50
I've drawn up a Pure Trust (private contract), and wondered if anyone knows how effective a "layered" Trust situation might be for added asset protection? For example, a vehicle is owned by Trust "D". That Trust is owned by another Trust, "C". That Trust is owned by yet another Trust, "B". Finally, that Trust is owned by Trust "A". Trusts "A" and "C" each have a $50,000.00 non lis pendens commercial lien against the vehicle owned by Trust "D".
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I have a truck owned by a trust Aw/ another trust B which has a lien on it.
The LLC I work for leases the truck from Trust A
The layering thing w/ liens I hear is done quite a bit |
10-13-2005, 08:09 AM
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Just out of curiosity, how would anyone get past the first trust if the records are private and there is a privacy agreement that you will take the fifth if asked about the trust? Have you had any difficulty purchasing insurance through a trust or LLC or are you going without? I was considering putting vehicles in my trust. Anyone purchase house ins thru a trust? What are the rates like? How do rates compare for cars and houses for trusts?
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10-13-2005, 07:51 PM
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Join Date: Oct 2004
Location: Georgia Republic
Posts: 100
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Put cars and homes in a New Mexico LLC as described in the book How To Be Invisible chapter 15.
Your name is nowhere to be found.
You use a registered agent.
You use an address from the Canary Islands.
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Originally Posted by francis
Just out of curiosity, how would anyone get past the first trust if the records are private and there is a privacy agreement that you will take the fifth if asked about the trust? Have you had any difficulty purchasing insurance through a trust or LLC or are you going without? I was considering putting vehicles in my trust. Anyone purchase house ins thru a trust? What are the rates like? How do rates compare for cars and houses for trusts?
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__________________
But God has chosen the foolish things of the world to put to shame the wise, and God has chosen the weak things of the world to put to shame the things which are mighty. 1Cor. 1:27
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10-14-2005, 11:06 AM
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I have a reply to this on my computer , prepared by Dave Miner who prepared mt trust, if someone can tell me how to post it. I can fax it but don't know how to format it to send it in other than fax. I do have e-fax.
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10-14-2005, 01:18 PM
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Mental Jujitsu
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Join Date: Oct 2004
Posts: 823
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Trusts
Ever thought about the Simple Trust?
__________________
And speaking of successes - congrats to gregtu: you just made the 10,000th post on suijuris.
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10-14-2005, 09:20 PM
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Join Date: Jun 2005
Location: AZ
Posts: 140
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I've got family trusts. Everything in the trust's names and no problem getting vehicles, insurance and the like. If you don't want your name on things, get a trusted friend to be executor. They do have my identity on the insurance, but I didn't think about it when I established it (15 yrs ago). Moving realestate does not trigger a sale in the states I am aware of, they allow you to move stuff for *tax* planning. The tax question is mute-since the trust is not open nor filed!
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