July 22, 2009

Truth about Trusts

Eric Morris Says:

July 21st, 2009 at 6:05 pm
A trust would require an Executor and filing documents with the state court system. These are public record and could be easily tracked down by authorities. It would be virtually impossible for a state investigator to not find the assets.

The "requirement of employment" could be included in a trust fund document, but trusts that use that are rarer than hen's teeth, most trusts only have limits "about coming of age" , "reserves", or "payment schedules".

Actually Eric Morris, you really should do your homework about trusts funds. There are trust funds which are protected by any creditor, until the money is paid out. He can then protect it by having a joint tenants in entirety account with his current wife. There are ways to get around everything if you play the law. With a tenants in the entriety bank account with his wife, generally nobody is allowed to attach the bank account. So the trust is protected, the money received from the trust is protected. This is entriely plausible.

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