There are many types of Trusts available in the United States. Each Trust type has its own purpose. Care should be taken when choosing a Trust type. It is also important to understand that you MUST purchase a Trust from an Attorney lest the vendor of the Trust be charged with practicing law without a license by the courts. We encourage you to also ask your Trust vendor if the Trust which you are purchasing is IRC Section 643 compliant.
Master’s Trust Copyrighted Spendthrift Trusts – no tax, asset protection, no court control, Trustee is controlled by a Compliance Overseer and Trust Assets are not subject to turn over orders of a court. IRC Section 643 Compliant.
Masters Trust sells the Family Legacy Trust, The Business Trust, The Charity Trust, and the Real Estate Trust. Each Trust is a Copyrighted Spendthrift Trust but is used for different purposes.
Common Law Trusts – The Uniform Commercial Code replaced common law and therefore common law trusts are not valid.
Living Trusts – Taxable, no asset protection, court control, Trustee control only, subject to turn over orders of a court.
Irrevocable Life Insurance Trusts – Taxable, no asset protection, limited court control, Trustee control only, subject to turn over orders of a court.
Crummey Trusts – Taxable, asset protection, court control, Trustee control only, subject to turn over orders of a court.
Generation Skipping Transfer Trusts – Taxable, asset protection, court control, Trustee control only, subject to turn over orders of a court.
Dynasty Trusts – Taxable, asset protection, court control, Trustee control only, subject to turn over orders of a court.
Family Limited Liability Company – Pass Through Tax, limited asset protection, court control, no Trustee control, subject to turn over orders of a court.
Charitable Remainder Trust – Taxable, no asset protection, limited court control, no Trustee control, subject to turn over orders of a court.
QPARTS GRATS – Taxable, no asset protection, limited court control, no Trustee control, subject to turn over orders of a court.
Stretch Out IRAs – Taxable, no asset protection, court control, no Trustee control, subject to turn over orders of a court.
Zero Estate Tax Plan – Taxable, no asset protection, court control, no Trustee control, subject to turn over orders of a court.
Private Family Foundations – Taxable, no asset protection, court control, no Trustee control, subject to turn over orders of a court.