Levy-Trust Acct

[bella]

is a trust acct the best way to have an acct at the bank which will not be able to get a levy for any credit or taxes owed under your name..Is there a better solution..Thanks

[netwrkranger]

First question, what is a trust account? What would be the purpose of the account?

Banks are quasi-government institutions. Furthermore, most people will open an account with their SSN. This, in effect, puts the account on the radar for tracking as well as making the account somewhat public. This means anything in the account is easily reachable by creditors (or government).

You are better off keeping your money and other valuables close to you rather than at a bank. In the event of an emergency, you have the cash you need. It would be difficult to obtain your money if the bank is shut down. This also keeps your money private. If you do use an account, keep as much in the account as you can afford to lose. If a bank shuts down for say insolvency, you must proceed through administrative procedures to retrieve your property.

You definitely also want to avoid safety deposit boxes as well. In the event of a national emergency bank shutdown, the contents of the box fall under the jurisdiction of Homeland Security. You will get back everything EXCEPT cash, weapons, gold, silver, and I would imagine stock certificates as well. In effect, your private property is confiscated for no reason (in rem). You can find information of what I said above in War Powers Acts. This may also be explained in the Patriot Act as well (treat this statement as an allegation for now).

If anything is incorrect, I am sure the good members of Sui Juris will correct any inaccuracies written above. In my opinion, a bank is one of the poorest fiduciaries an individual could entrust with their welfare and security save perhaps Swiss banking.

Regards,
netwrkranger

[bella]

Originally Posted by netwrkranger

First question, what is a trust account? What would be the purpose of the account?

Banks are quasi-government institutions. Furthermore, most people will open an account with their SSN. This, in effect, puts the account on the radar for tracking as well as making the account somewhat public. This means anything in the account is easily reachable by creditors (or government).

You are better off keeping your money and other valuables close to you rather than at a bank. In the event of an emergency, you have the cash you need. It would be difficult to obtain your money if the bank is shut down. This also keeps your money private. If you do use an account, keep as much in the account as you can afford to lose. If a bank shuts down for say insolvency, you must proceed through administrative procedures to retrieve your property.

You definitely also want to avoid safety deposit boxes as well. In the event of a national emergency bank shutdown, the contents of the box fall under the jurisdiction of Homeland Security. You will get back everything EXCEPT cash, weapons, gold, silver, and I would imagine stock certificates as well. In effect, your private property is confiscated for no reason (in rem). You can find information of what I said above in War Powers Acts. This may also be explained in the Patriot Act as well (treat this statement as an allegation for now).

If anything is incorrect, I am sure the good members of Sui Juris will correct any inaccuracies written above. In my opinion, a bank is one of the poorest fiduciaries an individual could entrust with their welfare and security save perhaps Swiss banking.

Regards,
netwrkranger

Thank you so much...I will take that in consideration

[bella]

I thought a trust acct opened with a lawyer is a way of not having your money touched in some type of credit or government situation..but you are right when you say that if some type of major catastrpohy happens then what...

[netwrkranger]

Suspicious Activity Reports (SARs) http://en.wikipedia.org/wiki/Suspicious_activity_report

Unauthorized Disclosure of Suspicious Activity Reports, US Treasury http://www.ots.treas.gov/docs/4/480024.pdf

Financial Crimes Enforcement Network (FinCEN) http://en.wikipedia.org/wiki/Financi...cement_Network

Bank Secrecy Act http://en.wikipedia.org/wiki/Bank_Secrecy_Act

Society for WorldWide Interbank Financial Telecommunication http://en.wikipedia.org/wiki/SWIFT

Terrorist Finance Tracking Program http://en.wikipedia.org/wiki/Terrori...acking_Program


So let's see...coming in dead last for duty and obligation from the bank (just like accepting a lawyer!!).... check. The use of your personal information against you to build a case against you and not being informed of such usage....check. The tracking of your transactions and personal business....check. Absolutely no privacy.....check.

Why do I use banks again?!?!!?!

Not only are banks required to file these SARs, but other institutions such as casinos, jewelers, dealerships, brokerage houses, and many others are required by statute to report financial transactions deemed "suspicious" to authorities. One such designation is "money services businesses".


You can see some of these forms here:

http://www.irs.gov/formspubs/lists/0,,id=97817,00.html
Reporting of cash payments over $10,000 Received in a Trade or Business: ww.irs.gov/pub/irs-pdf/p1544.pdf

Regards,
netwrkranger

[netwrkranger]

George Mercier's Invisible Contracts

Use your Google-fu to obtain it.

[bella]

Thank you I will try that...