Frank26 12/28/17

by **Ssmith** Thu Dec 28, 2017 7:16 pm

How many years have people wasted time & money setting up trusts, etc.?

Wednesday Night KTFA CC 12-27-17

The first part is business Promo and the the second part is Dinar/Iraq Intel

PLAYBACK : 641.715.3598 PIN : 155703#

https://fccdl.in/tWVLXzQ35

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StephenMac3=63 » December 28th, 2017

First off, Great CC, thanks to Frank & Tink.

On the call was a gentleman that creates trusts which is a structure that is designed to protect ownership of assets. From personal experience, I can say that the price he quoted is more than fair. 2900 for ten trusts, if heard right. This comes out to 290 per trust.

Now imagine if you place your $100,000 house in your trust and someone tries to take it away via a lawsuit. The protection you gain is equal to save 100,000 for 290.

While we are waiting for the two articles and fruition of this journey if you haven't done so already, time to start cramming about "Asset Protection".

The trusts that I am familiar with start at 1900 and each additional is 350 plus. But this is done through a Trust Attorney at a well-respected firm.

A trust is just a pile of papers that have very explicit instructions and must be legally bound to hold up in court in case anyone wants to challenge.

The very first thing an opposing attorney will do is called an asset search in your name to see if you own anything worthwhile to sue you for. You will have a least likely chance of being pursued if nothing is in your name. The second thing an opposing attorney will try to do is 'tear apart" the trust.

Do you remember the example of Frank asking to buy a car? Frank is to contact his trustee and instruct him to purchase the car....the trust is buying the car, not Frank.

That car will never be in Frank's name. The dealer will sell the car to the trust and the registered owner on the title will be YadaYada Yada Trust. (In my state, many states are the same, some are different)

Had Frank buy the car and immediately put it into his trust, a paper trail is created and his name is smack dab in the middle of it. Here they can make "the connection" that Frank "could" own a trust. When you speak with various folks about trusts and corps, ask about a term called "Fraudulent Conveyance".

Once you get the definition you will then see why it is very important to keep everything organized when the seas are calm. If a judge finds out that you transferred your assets to a trust after you found out that you were being sued, here in this state, the judge can order the assets to be removed from 'trust protection". In my state 3 years is the time frame that assets are vulnerable. It's a judgment call by the judge.

I know of a fellow with control of several trusts that contain many houses, vehicles and yet he doesn't have a dollar "to his name". He looks so poor on paper, with his name, he doesn't even get called for jury duty.

When he likes a house, the corp buys the house and is registered in its name. If he owns a house and wants to put into a corp, he files whats called a "Quit Deed" with the county meaning that he is surrendering his ownership rights of the house and it is then registered, via his registered agent, into the name of the corp. So now, he doesn't own the house, he works for the corp that owns the house......see how that works?

Start searching "Asset Protection". Keep in mind there are several differences between a trust and a Corp, this is where you need to sit down with a professional and have them explain it to you. If you don't understand something, tell them to explain it in better detail. They will be happy to explain as they do not expect you to know the inner workings of trust and corps.

Another item that you may want to check into is called an "Umbrella Policy". This is an insurance policy that will cover beyond the normal policy limits. For example...you injure or maim someone, their family want to sue you, your current insurance only covers a certain amount, lets say 100,000. but the family is going after half million.

Your auto policy will only pay out the max represented on the policy, you need to come up with the difference. This is where an Umbrella Policy comes in and it acts just like what it says, it helps cover you. State Farm carries a $1,000,000 for $283 a year. I'd rather spend 283 instead of half million. Your life is now all about preparation & preservation.

Think your journey is about over? Not Even, its just getting started.

(All IMO, of course)

Frank26 » December 28th, 2017

As i said ................. i rarely talk about this subject with Family.

IMO ....................... The TIMING was right to do so.

TY for Your contributions STEPHENMAC63 ............. Aloha \m/