"Are Trusts Necessary?" by Blueriver - 3/22/19

by **Ssmith** Sun Mar 24, 2019 11:43 pm

I hope someone can shed light on this question.

If the QFS, Quantum Financial System, cannot be rigged, cannot be compromised, and is protected by SSPs to prevent it from being hacked, then someone please tell me why we need trusts to hold our money.

Blessings,

Blueriver

by **Ssmith** Sun Mar 24, 2019 11:45 pm

"Re: Are Trusts Necessary?" by G

Trusts are like boxes that one puts their assets into. They usually have a different name then the owner's given name which gives you some privacy. Every state in the US automatically, by default, assigns every person a Will incase of death. If you have a Will on file with an attorney then it supersedes the State's default Will. If anyone has a Will upon death, their estate goes into a process known as probate.

Attorneys involved in the probate process are allowed a fee that is drained from the estate automatically before the heirs take possession of the deceased's estate. This fee can be around a third of the value of the estate and is limited by state law. So, every Will that a probate attorney has on file is a future paycheck that he/she can expect to collect after their clients' deaths.

Any estate in a Trust is exempt from the probate process. This means no probate attorneys and no fees given to them that dilutes what you leave behind for your loved ones. It is recommended that everyone with $10,000 or more in assets have a trust. As of several years ago, Trusts can cost anywhere from $800-$1000 to set up if you use an estate attorney.

I am not an attorney but I did sell trusts for an attorney's office when I was selling life and long term care insurance many years ago. This information is from memory and you should do your own research online for greater clarity.

G

by **Ssmith** Sun Mar 24, 2019 11:46 pm

"Trust and Other Bank Accounts" by Lazarus

Someone had asked on an earlier post if Trusts are necessary. I will keep this plain and simple. Yes!

When you deposit money into a bank account it is NO LONGER your money. It is the bank’s money. They can keep it; make pay roll with it ;lend it out; or invest it. Just like they would any other money they own. They have FULL discretionary authority on the utilization of those funds. Checking or savings – does NOT matter.

A Trust is different as funds in Trust accounts – held “IN TRUST” are on a different ledger. The bank is entitled to charge a fee for banking services & the safe keeping of the funds. They CANNOT play with it. As such, your capital is never placed at risk (at least not legally).

I hope this is helpful.

God’s speed,

Lazarus

"Are Trusts Necessary?" by Blueriver - 3/22/19

"Are Trusts Necessary?" by Blueriver - 3/22/19

Re: "Are Trusts Necessary?" by Blueriver - 3/22/19

Re: "Are Trusts Necessary?" by Blueriver - 3/22/19