Asset Protection & Trust
Our asset protection and trust services are designed to safeguard your wealth and ensure its efficient management and transfer. We offer comprehensive strategies to protect your assets from potential risks, such as litigation or creditor claims, while ensuring compliance with legal and regulatory requirements. Additionally, our trust services provide tailored solutions for the management and distribution of your estate, ensuring your wishes are honored and your beneficiaries are cared for. Through meticulous planning and expert guidance, we help secure your financial legacy for future generations.
Spendthrift Trust
Functionality You Will Love
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Benefits
The key benefits to the Beneficial Contract Law Trust are the elimination or deferral of passive income and capital gains taxes.
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• Asset protection of Trust assets from creditors;
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• Anonymity for Trust beneficiaries; and
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• Control of the assets for asset transfer, including determining who can benefit from its income generation.
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Why It Works
Our Beneficial Contract Law Trust is copyrighted under U.S. copyright law. More than 80,000 of these trusts have been created in the past 50 years. Moreover, the Trust has been held valid in court, and legal opinions from tax attorneys and tax specialists attest to the soundness of the Trust.
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Trust Establishment
To establish a trust, consideration of some type is transferred from a Settlor to another person (known as the trustee) with the understanding that the recipient will hold the property and assets or use them in a way that is directed or established as laid out in
the terms and conditions of the trust. Anyone who benefits from the use of the property or assets is known as the beneficiary.
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Trust Estate
The property or assets that are transferred to a trust becomes the trust corpus. The Trustee of a trust is the only entity that can affect the transfer of assets, property or monies to a trust. A trust estate consists of all of the property (tangible or intangible), assets, cash, rights and obligations that are transferred to the trust. The trust estate is managed in accordance with the terms and conditions of the documents creating the trust. Because the property is held in trust it is generally not subject to turnover.
Exceptional Benefits
Business Expenses
Expenses and business affairs conducted on behalf of the
Trust may be paid by the Trust and not considered income to
the person receiving these payments.
Housing & More
Trust expenses can include housing, utilities, homeowners’
insurance, property taxes, housing repair and maintenance,
and vehicles, vehicle insurance, vehicle taxes, vehicle repair
and maintenance.
Expenses for Minors
Beneficiaries that are minors and/or those incapacitated can
be provided food, clothing, medical, education,
transportation needs, and wellness. Basically, all expenses
except entertainment may be covered!
Expenses for Adults
The Trust can provide medical, education, transportation
needs, and wellness for adult Trustees and Beneficiaries. This
is not income to them if this income is paid on behalf of the
Beneficiary or Trustee and not paid directly to the Beneficiary or Trustee.
Inherent Powers
One of the benefits of a Spendthrift Trust is that the Trust has inherent power to invest to create more wealth.
