Stephen J. Oshins:

CCH: Can you describe the beneficiary controlled trust concept for us?

Mr. Oshins: A beneficiary controlled trust is a trust in which the primary beneficiary is either the sole trustee or a co-trustee, and in either case has the ability to remove and replace the trustees. The trust agreement also includes provisions opting out of the prudent person or prudent man standard so that the primary beneficiary, as trustee, can invest in anything he or she desires just as such individual would be able to do with outright ownership. The primary beneficiary is also given a broad non-general power of appointment that can eliminate any potential interference by remote beneficiaries since a complaining remote beneficiary can be cut out by the primary beneficiary entirely.

from:  ASSET PROTECTION AND THE SPENDTHRIFT TRUST

Richard Oshins could be called the father of the Beneficiary Controlled Trust.  I believe Stephen is his son, but I’m not positive.

Anyone interested in asset protection should read what they have to say.  If you would like to learn the basics first, check out my articles:

Beneficiary Controlled Trust Fact Sheet

and

Asset Protection From the Beneficiary Controlled Trust Up

===

Charles Lamm is a retired attorney and owner of Trustee and RA Services, Inc., in Coral Springs, Florida.  He is now a legal/technology consultant for Accessible Communication for the Deaf.

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A lot of money is tainted. ‘Taint yours and ‘taint mine.

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Did you ever notice: When you put the 2 words “The” and “IRS”
together it spells “Theirs.”

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