In 1999 specialized terms and conditions for Irrevocable Spendthrift Trusts were created that were unique in that for the first time a control position was placed within the trust format that would allow a Settlor of a trust to govern the actions of a trustee and the conduct of the beneficiaries. These trusts meet all the requirements of the IRS, the concepts of the late Professor Austin Scott of Harvard Law School, the foremost authority on trust law and the codes and relevant statutes of the legal system.
The trust documents were copyrighted, beginning in 1999 and completed in the year 2000. This gave the copyrighted documents complete protection in marketing and the use of the trusts. In 2012 the Trust was updated and revised with reference to the IRC to take advantage of certain areas of the code.
The trusts provide complete asset protection, because the trust assets are exempt from a turnover order from any court of law or judge when used in a lawful manner. If a creditor brings an action against an individual or company that is operating in the structure of Spendthrift Trusts, and, even if they should get a judgment, they are unable to reach any assets that are within the trust. If an individual or business is sued in a damage case (as is the case with doctors, professionals and companies) and even, if they are assessed a huge award by a court for damages, the judgment is not enforceable as to the assets and bank accounts of the trust. The assets of the trust are secure.
Any assets, cash or property (intangible or tangible), when placed in the Spendthrift Trust are not taxable. This is an endowment which is a capitalization. Only the profits that the trust earns from the investment of assets are taxable. When assets, cash or property that are the endowment, are distributed to a beneficiary of the trust, it is not a taxable event for the trust. Only the profits that are earned from the assets of the trust are taxable unless they are distributed to a beneficiary at some point. All endowments are nontaxable events with regard to the trust.
Because of these key factors and the characteristics of these special copyrighted (intellectual properties) Spendthrift Trusts have now become the preferred entity for individuals and business concerns. With this in mind, the copyrighted trusts provide individuals and businesses complete protection, good tax consequences and ease of management that meet and exceed all the requirements and standards of the courts and the IRS.
This exciting product is designed for those clients who have the most to protect, and the susceptibility to liability that goes along with their success.
Once, exclusively, the asset protection and management vehicle of choice for captains of industry and the most prominent wealthy families in the United States, the Copyright Spendthrift Trust is now available to those clients whose lifework has earned them significant assets or will accumulate estates of means.
Written and designed by Attorneys in Dallas and Houston, Texas and New York, the Copyrighted Spendthrift Trust is especially popular with professionals, businesses, physicians, oil and gas exploration companies and others with significant exposure to liability lawsuits, to ensure protection of personal assets.
The Trust was designed with consideration to the recognized works of Professor Austin Scott, author of the definitive law on trusts, titled “Scott on Trust”, required study, generally, in the curriculum of leading law schools and the Restatement of Trusts.
The Copyright Spendthrift Trusts are in complete compliance with all Internal Revenue Service Statutes and Codes on Estates, Trusts and Beneficiaries, as well as with “Scott on Trust”. Relevant code sections are Title 26, Subtitle A, Chapter 1, subchapter 1, Part 1, Sections 59, 67, 543, 553, 927 Subpart A Section 641; Section 643, Subparts A, B, C and D, and including Section 651, Sections 672, 673, 674, 675, 676, 677 and 678.
Masters Copyrights LLC is the holder of the copyrights. By using this copyrighted format one has the unique opportunity to protect assets within the Copyrighted Spendthrift Trust. The Copyrighted Spendthrift Trust is a unique opportunity for you to legally protect those assets worked so hard to obtain