a trust and UCC

OT-


This is the first time anyone has actually come right out and "highly recommended" filing a UCC against the trust.& And it does make sense.


However, I'm not certain who this individual has to be.... a relative, someone with a vested interest in the trust/assests, the trustee or who.???


Thanks again&

Mike,

Can you restate your question so I can understand it better... I'm a little slow on the up-take...

OK - sorry


Who is the debtor - who is the secured party - trustee or a 3rd party?


&


Last post didn't make any sense?& Hit the wrong key at the wrong time........


&

Mike,

Trust= debtor

Trustee= secured party

The reason I don't like the 3rd party as the secured party concept is because it requires an element of dishonesty which, if ever challenged, would require the 3rd party to be disingenuous about the actual relationship. Ask yourself this question, would you perjure yourself to protect another? Would you ask someone to perjure themselves to benefit you..?

We don't recommend anyone becoming a trustee without first understanding what the role requires. It isn't enough to just appoint someone. The trustee must operate within the construct of the trust and within the law (common law); i.e. form and substance. Therefore knowledge is key if you want to protect the trust from would-be assailants while preserving the assets for the beneficiary(s).

"Trusts" by George T. Bogert is an excellent start for educating yourself in this area.