Pure / Common Law Trusts - I have used them for years

[nent]

I became ill in 1993 and was initially diagnosed with lymphoma. I did not wish my family to lose all we had, due to the medical bills. So, I setup a couple of Pure Trusts to protect my assets. As things turned out I did not have cancer and I continued to operate the Pure Trusts. A couple of years later my wife came down with colon cancer. Her treatments were extremely expensive yet, she passed away regardless.



The Pure Trusts did indeed save our possessions. On other issues I have stood before the State Attorney General in court and successfully stopped the government from gaining ANY access or knowledge of the assets of the Trusts. They have now existed for over 10 years and I have advised many of my friends and colleagues to setup their own.



I would be cautious of the LLC, as they are a Creation of Legislature� and can be legislated against at any time.

any further details on how you set up & who you contacted to have it done? any details on the cases you had before the court?



jon

[seeker]

this one kind of died too for lack of response --- any enlightened souls in regards to this type of structure?



Seeker

[weaponx71]

A simple Google brought up these two links as the first two.


Trusts



I guess we should all read up and put our heads together on this one, sounds like a good thing to do.



WeaponX

[seeker]

I've been getting the Protect your stuff newsletter. haven't checked the other. Thanks



seeker

The best I have seen in years of searching for solid info on this topic:



http://www.creative-consulting-group.com/



SJ, this is not a plug - these guys are for real.

[weishaupt1776]

I love being the managing director for 2 pure trusts,no doubt.

Sleep much better now

[Bill Smith]

Just ask Lynne Meredith how well Pure Trusts work.

[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.

[TheBlackTruth]

Originally Posted by Bill Smith

Just ask Lynne Meredith how well Pure Trusts work.

To my knowledge, no trusts were ever pierced in the Merideth, et. al case.


-BT