To Trust or Not to Trust: Exploring New Ideas in Asset Management
January 5, 2011
To Trust or Not to Trust: Exploring New Ideas in Asset Management (Jan. 5, 2011)
Subject: Revocable and Irrevocable Trusts
Date: Tue, January 4, 2011
To: Ken Adachi
Just discovered your website. You have some very interesting information. Was wondering if you had ever researched anything about revocable (living) trusts and/or irrevocable trusts.
My husband is hesitant to put our money into one because he believes it is difficult to get the money out and gives the bank control over our assets, although it allows you to avoid probate, which is very appealing. My husband's grandfather's money was in a trust and he had a very difficult time getting it out of the trust after his grandfather died; he had to "trick" the bank into getting it out.
Everyone I speak to about it (lawyers or friends who have consulted lawyers) say that trusts are the best way to go to protect one's assets. You seem to have a lot of non-mainstream information on things and thought you might have some info that I may have missed on risks vs. benefits of a trust.
Thanks in advance,
I'm not an expert on this. I looked into it many years ago and knew more at that time. You have to get recently published books and read up about this. Don't depend on what lawyers tell you. Find out from books.
Off shore bank accounts and foundations are the most common way for people with lots of money to keep it safe from taxation.
There are books on avoiding probate. Irwin Schiff wrote one 40 years ago. There must be more today. If you have a rock tight Will, the state can't involve itself in the estate unless it's contested. If there are no estate assets to go after, there can't be probate.
You can keep cash and valuables in a safety deposit box, if you are worried about security, but still have instant access to it.
Keep your money in cash and you will be the only one who knows about it and have access to it. You can also invest cash in tangible assets like land or buildings and deed control/full ownership to your kids upon your passing.
Tangible assets are always better than keeping money in a bank, in my opinion. The US dollar will continue to inflate as the World Bank and IMF Zionist schemers shift over to embracing the Chinese yuan, which will happen more and more in the months and years to come.
While a well constructed trust may fit your needs, there are many other, perhaps more sophisticated ways, to protect your assets-and keep the money out of banks.
I haven't had a bank account for a long time and I never will have one again. I stopped using credit cards in 1989 and never looked back.
The reason that banks charge you a monthly fee for the privilege of allowing them to use YOUR money, interest free, in THEIR "checking account" (which they will tell you is YOUR checking account) is because TOO MANY PEOPLE give them their money. And therefore, there is NO INCENTIVE for the banks to pay you interest on checking or savings (beyond the pitiable , token 0.0003% interest rate they might allow for savings).
If people POOL their assets and form PRIVATE ASSET MANAGEMENT UNIONS OR COOPERATIVES, that is operated, managed, and supervised by the participant/owners themselves, then you now have an effective way to grow your money in a trusted environment where all share mutually in the profits gained, thus by-passing the banksters entirely.
The same sort of pooling of assets could take place with property (homes) acquisition as well and avoid the banksters mortgaging industry.
The fastest way to end the control over your life exerted by the banking industry, their "credit markets" (which just HAD to be "saved" by the American taxpayer in October 2008), and their government cohorts like Bernanke and Paulson, is to STOP doing business with them on ANY level.
Credit Unions offer loans, have ATM machines and allow electronic transfer of funds, yet they aren't part of the banking system. You can expand that sort of application to privately operated asset management clubs, unions, cooperatives, etc.
Armani suited criminals in banking, brokerage, government, etc. can only control your life when you ALLOW them to control you by COOPERATING with their enslaving devices and tactics. Withdraw your cooperation and they are DEAD in the water.
The Conspiracy to Abolish Cash (Jan. 5, 2011)
Subject: revocable vs irrevocable trusts
Date: Thu, January 6, 2011
To: Ken Adachi
Hope this letter finds you well. Regarding the trust inquiry here http://educate-yourself.org/lte/assetmanagement05jan11.shtml on your page I have a little input ...
A Poorly written trust can be more harmful than no will arrangement at all. A properly written trust (meaning in compliance with the Trust Code of that particular state) can be worth more than its weight in gold. Settling your estate while you are still in control of your estate AND even making arrangements beyond the grave are some of the many advantages of having your own Revocable Living Trust.
Revocable means you can change it as you see fit or as life changes,etc... An Irrevocable Trust may have more tax advantages but once written the penalties can be stiff if you change it. When an estate goes to Probate the assessor for that particular county ( or Parish as here in Louisiana ) will look to see that the trust is compliant with state code ( Meaning the proper ancillary documents are in order and present) and usually it's an open and close ordeal as opposed to weeks or even months for regular probate
.Very rare for a trust to be contested and a properly written trust is almost impossible to overrule. As far as who needs a trust or when a trust should be used is a matter of desire for a smaller estate and should be used for larger estates in my opinion - the main reason at least is that the estate is settled and very difficult to successfully contest when it gets to probate. One important note to remember is one can download the forms ( usually four or five - depending on the state you are located in ) for free from the internet and borught to a notary public for witness and for a few doallars one can form one's own revocable living trust. A non relative is usually required to witness in addition to the notary public.
Ken, I have much experience in working with my particular clients that have revocable living trusts and have reviewed approximately 400 families with trusts in my years as an estate planner with the supervision of an attorney . Many Attorneys will tell their clients they do not need a trust BUT often because thay want that 10 per cent or so to handle the probate end of settling an estate. I hope this helps your reader in seeing the advantages of having a trust.
Regards, Keith R
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