The Standard Against Which Other Trusts Are Measured!
To the non-lawyer type, that title alone can be a little intimidating! Simply put, the Masters Trust has you covered on all sides, and at every turn! The Masters Trust was the first copyrighted Trust in America. It has been, and will remain the Trust against which all other Trusts are measured! Yes, Masters Trust is a benchmark, and will remain that for many years to come. Further down on this page, we have more information about the history of the Masters Trust but it’s important that you also know how it can benefit you and your family, and/or your organization.
- Masters Trust can help you avoid or defer taxation on Trust income.
- Masters Trust is Irrevocable – this means that assets cannot be attached by the courts. Liability insurance for Trust assets becomes redundant
- If used correctly, Masters Trust protects Beneficiaries, Trustees and Settlors so as to help manage tax liabilities.
- Masters Trust is IRC Section 643 compliant which means that the Trust does not pay short term or long term capital gains or income taxes. Income must be added to the original corpus (original capital) of the Trust. This defers Taxation until taken out of the Trust.
- Masters Trust can help avoid IRS 1031 Exchange restrictions, thus freeing up many aspects of real estate investment
- Masters Trust can own any legal assets, anywhere in the world for the benefit of the Beneficiaries of the Trust.
- Trustees have no restrictions on what to give Beneficiaries or when they have to give them something.
- Trustees can, at their option either hold Trust assets in the name of the Trust or in their own name, for the Trust.
Read more here about who can benefit from owning a Masters Trust. We also show you the primary advantages of owning a Masters Spendthrift Trust.
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A History of the Masters Trust Copyrighted Masters Spendthrift Trust
The current Masters Spendthrift Trust had its beginnings long ago in the 1950s. A Harvard Attorney, who studied under Austin Wakefield Scott, the author of Scott on Trust Law the recognized authority of U.S. Trust Law, practiced law in New York. He was a protégé of Scott and taught his classes in Trust Law at Harvard as an assistant. After graduation this Attorney became a partner in a prominent Wall Street Law Firm where he worked with wealthy clients in New York to plan and protect their estates through Spendthrift Trusts. The firm also handled the insurance claim for the famous ship wreck of the Andrea Doria which had millions of dollars of cargo on board when it went down.
During the late 1950s the Attorney expanded his business to Texas where he practiced Bankruptcy, Trust and Copyright Law. It became obvious to him as he worked over the years that a new type of Trust which would provide a wide section of society with an estate planning tool that would provide bullet proof asset protection had to be created and copyrighted. This was the catalyst that produced Master’s Spendthrift Format. In 1999 the first Masters Spendthrift Trust Format Copyright was filed with the U.S. Copyright Office and a Copyright was issued for this Trust which was an original work. The Copyright Office noted and advised the Attorney that it was the first and only Trust that had ever been copyrighted.
The Attorney partnered with a Tarrant County, Texas Judge and a paralegal to form a new Law Firm which offered the Trust to everyone, not just wealthy clients. The rest is history! As people heard about the advantages of the Trust, thousands were created and sold over the years. Other lawyers purchased the Trusts and resold them to their clients as the reputation of this estate planning tool became known and appreciated. Read more here
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