Black Friday Blackout Sale Day 2 70% OFF The Shield Protector System Plus the Life Estate E book for FREE

Black Friday Blackout Sale

Day 2

70% OFF

The Shield Protector System

Plus the Life Estate E book for FREE

The Brand New Shield Protector System recently updated to the new IRS ruling on Irrevocable trust

What makes our Shield Protector System Different from other Trusts ?

TheS.P.S.is alife estate trustwhichis aspecial type ofirrevocable grantor trust which gives asset protection because it is an independent legal entity.TheS.P.Shasthe following:

Control & use via a life estate.Yet this family friendly trust gives control & use to the grantor as the grantors (typically parents) are also one of the beneficiaries

(primaryor currentbeneficiary) while the heirs (typically children) aresecondary orremainder orfuture beneficiaries*.Here, the grantorshavea life interest in the property for their lifetime and no one, even the trustee, can change or adversely affect the control, benefit, income and use of the trust property.During the grantors lifetime, the trusteesprimaryrole is to hold the legal title.[*Thesecondaryremainderbeneficiaries(heirs) receive a future remainder interest in the trust].

Income tax effect. TheS.P.Sis grantortrust. As a grantor trust, theS.P.S does not file a tax return. While it is be a separatelegalentity; it is not a separatetaxentity.The incidents of taxation pass-through directly to the grantor.The trust doesnotcause adverse tax consequences as follows:

A primaryresidenceisstill entitled to the Section 121$250,000/$500,000exclusions, Reg.1.121-1(c)(3)(i);Rev.Rul.95-84.[This would not be so with a state registered entity such as an LLC, LP,FLP or corporation where such exclusions would not be permittedinanentity].

The mortgage interest deduction on a primary or second home will also not be adversely affected with a residence in a grantor trust.IRC 163(h)(2)(d)]; IRC 163(h)(1).[This would not be so with a state registered entity such as an LLC, FLP, LP or corporation where such interest would not be deductible].

With theS.P.Sthere are no gift taxes from placing assets into the trust. This is because the transfers, maintaining a life interest in the property,arenot a completed gift for gift tax purposes, even though the transfer of the remainder interest istechnicallyirrevocable.

Thereis no gift tax exemption.Consistent with the above (not a gift), alltrustproperty will still be included in the estate of the grantors.[To a certain degree theS.P.S(as well as an RLT) can save on estate taxes by taking full advantage of the estate exemptions of a married couplewith an A-B trust provision(with a main trust andbypasstrust)..

Property will receive a stepped-up basis upon the death of the grantors under InternalRevenueCode Section1014.

AS.P.Shas allofthe positive attributes of a trust

Control, flexibility, no business purposerequirement, etc.

Hasthe important estate planning functions thatrevocableliving trusts doProbate avoidance, asset management duringgrantorincapacitationor institutionalization,transferring the estate to the rightful heirs,verydifficult to contest.

HasPrivacy with an independent trustee.

HasAssetProtection viairrevocability.Irrevocable means a powerful protective shield for the grantors property. Because outside legal attackers cannot revoke the trust, they will be unable to attach theremainderpropertywhichisshieldedbythe trustfor you and your family.

[NOTE RLTs have an irrevocable feature:Another little known fact that should eliminate any apprehension about irrevocability is that astandardrevocable living trust contains a provision to create one or moreirrevocable trusts upon the death of the first spouse. Thistrust is the bypass orB trust that allowsa married coupletobeentitledto thefull estate exemptions ofeach spouseaspart of the A-B trust provisionenabling the use of each spouses estate exemption.The B bypass trust is anirrevocable trust giving privacy, asset protection and most of the benefits of aS.P.Slife estate trust. Yet the surviving spouse and family continue to use trust property without any impediments.Formanyyears there have been millions of bypass (irrevocable) trusts set up by trust attorneys and yetit is rare tohearanythingnegativeabout thefeatureof irrevocability.In fact,as withthePETlife estate trust, the purpose of this bypass trust is to protect the surviving spouse and family fromoutside legal attackers who cannot revoke the trust because it is irrevocable.Case closed!]

The reason why theS.P.Shasasset protection via irrevocability is this --If the grantor(s) cannot have directblank-checkaccess to trust principal to pay for personal necessities (including personal debts), a creditor cannot force the grantors to pay with financial resources which the grantor does not have the legal capacity to expend.With the trust subdivision below, thesecondaryremainder interest (principal or corpus on the right hand side) is broken out and irrevocably given to the grantors heirs (the remainder beneficiaries). Because of this irrevocable transfer by the grantor, claimants of the grantor cannot reach the remainder interest (principal) of the trust. (Yet the grantor could, via formalities, get to this principal as discussed later).On the other hand,because the trust income is accessible to the grantor,claimantscouldreachthe income part of the trust (ontheleft hand side) because this is a life interest maintained by the grantor during life.

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