out the benefits of a Wyoming qualified Spend Thrift Trust.
This is Wyoming's version
of a Domestic Asset Protection Trust. It can own property, stock, hold cash, or any other asset(s).
It must be irrevocable, meaning the assets cannot be taken back by the
person that puts them in the trust, its creator.
But the creator can take out 5% of the assets per year plus any interest
that has been paid by the trust on the assets.
(Be sure to check with your tax advisor on how the taxes work when you do
this.) The trust has a maximum life
of 1,000 years.
The main points of the trust
is private. It is not an
entity filed with the state but it is an internal agreement done by an attorney,
so there is no public record of it, except with the IRS, as it must have its own
tax id number. Also the members and
managers of the LLC's associated with the Trust do not have to be listed on the
public record with the state of Wyoming.
It gives iron clad asset protection. It is a separate entity from its creator, managed by
a Trustee not the creator. As such
the assets inside of the trust cannot be taken out of it to satisfy an
obligation of the creator of the trust.
using a Private Trust Company as Trustee. The Trustee must be either a person that lives in Wyoming or a Private
Trust Company (which can be an Wyoming LLC), approved by the Wyoming banking
commission. This LLC must also have an
office presence inside the state of Wyoming. This Private Trust LLC's sole
purpose is being the Trustee to this one trust.
The Trust can pay this LLC for Trustee services.
more money out and having control. The
Trustee can be advised by an Investment Advisor (which can be an LLC).
The creator can be the manager of this LLC and also a member of it.
The Trust can pay this LLC for investment advice.
This allows for money to be removed
from the trust and also gives the creator total say in what the trust is allowed
to do, as by law the Trustee must do what the Advisor says.
Flexibility and control.
beneficiary can be an LLC.
This LLC can
be managed by the creator, but the creator cannot be a member of it
The members can be changed, giving the creator flexibility over who gets
the assets of the trust, if say there was something that changed with one of the
original members of the Beneficiary LLC.
Cost is $4995
which includes the Trust written to your exact specifications by an attorney, two hours of
attorney time, a Private Trust Company, a Wyoming LLC Beneficiary and an
Investment Advisor LLC, physical address and mail forwarding service, VM phone service, and help to
establish bank account.
When you call we will see if it is a good fit for you. If you feel like you
need to talk to the attorney before you place your order, he charges a $495 fee,
which is refundable if a trust will not work for you, or applied to the cost of
the trust package when you order. It is not refundable if you both believe that
a trust will work and you do not place the order.
Click here for the
detail of package.