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

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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.

~ Good as Gold

The best tax man I know - Chief Chief - uses nothing but IRS publications to determine courses of action for his clients. I know why.

1. much of the time, the IRS agents don’t even know or understand their more obscure regulations
2. if he has beaten them with plain language, they cannot afford to have a court rule in his favor and let everyone take advantage of the loophole

So they leave him alone, at least for now.

=====
You No Longer Have to Advertise on Adwords, Dominate the Search Engines, or Have a Big Email List to Make Five Figures Each Month

Here is a story from California showing what happens when banks and the state are more interested in not finding owners and beneficiaries:

http://pinurl.com/ar0

by Gary North

“When governments want to expand power over the monetary system, they invoke the need to clamp down on money laundering by criminals. There is a problem here. After these laws and new rules are passed, crime never goes down, but our privacy does. That is a problem for us. It is not a problem for governments.”

“When a society’s monetary system is based exclusively on private contracts and voluntary exchange, civil governments find it difficult to make money by counterfeiting. They cannot directly control the monetary system. They can influence it through legislation and the courts by altering what constitutes a legally enforceable contract. The main interference here is a government’s decision to allow banks and private storage facilities to issue receipts – IOUs – for gold or silver that are not covered 100% by the quantity and fineness of the metal promised on the receipt. This violates private contract law. It authorizes fraud. It legalizes counterfeiting. But the government is not helped much by this interpretation of contracts. Banks and warehouse storage facilities are the main beneficiaries.”

Read the full story . . .

My comments:

I have always liked owning gold. The problem is that I never had the same feel for its value when living in the U.S. In countries where gold is a valuable part of life, the value feels more real. Gold should be a part of each prudent individual’s assets. When governments want to prevent you from doing or owning something that does no harm to another individual, ask yourself why. It often means less freedom for you, and more power for the state.

Charles Lamm is a full-bodied scanner and junkyard philosopher whose blogs include the Asset Protection Iron Triangle, Virtual Joe Friday, and Live Free in an Unfree World.

In asset protection, you have to build before you need to protect. Once you have built up assets, protection gets harder. A clever predator can wipe you out while your assets grow.

A opportunity is developing around the country. What is happening in Atlanta will happen in every major city.

Check this article by Gary North to see if this will be an avenue for you to asset accumulation:

The $10,000 Atlanta Houses