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Trust Management

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  • azusa8871
    Hi !!! I am new to the list and may be doing something wrong, so let me say I m sorry now and get on with my needs. I manage and am a trustee for a Business
    Message 1 of 8 , Oct 13, 2005
      Hi !!!



      I am new to the list and may be doing something wrong, so let me say
      I'm sorry now and get on with my needs.



      I manage and am a trustee for a Business Trust that has been in
      existence for several years and I have not kept up with the books for
      meetings and other needs for a trust to be out of harm way.



      Do you know of or have any good advise as to who to contact for
      management of said trust and also how to get it back up to speed as I
      have a new use for the trust and I want it to be solvent and in good
      standing before I start using it.



      Thank You



      AZUSA Unlimited, Ron Shafer Trustee

      1-530-596-4322

      azusaunltd@...
    • Stub & Collleen Harvey
      If you created this Trust and you are the Trustee, You will be considered the same person; You must have a Trustee off shoulder s length in other words no
      Message 2 of 8 , Oct 15, 2005
        If you created this Trust and you are the Trustee, You will be considered
        the same person;
        You must have a Trustee "off shoulder's length" in other words no family or
        relative.can be the trustee.
        The creator cannot ever bring the contents of the trust back into his/her
        name. and that has to be endorsed in the trust.
        everything is being done in the trust for the benefit of the Certificate
        holders ultimately. even though the General Manager has the right to operate
        the trust as certifyed by the Trustee.

        Do some Research

        S.H.



        ----- Original Message -----
        From: "azusa8871" <AZUSAUNLTD@...>
        To: <tips_and_tricks@yahoogroups.com>
        Sent: Thursday, October 13, 2005 8:21 PM
        Subject: [tips_and_tricks] Trust Management


        > Hi !!!
        >
        >
        >
        > I am new to the list and may be doing something wrong, so let me say
        > I'm sorry now and get on with my needs.
      • Bob: Gross
        Best advice anyone can give is, get books up to date with minutes reflecting all meetings mandated by the articles of organization, as well as get all your
        Message 3 of 8 , Oct 15, 2005
          Best advice anyone can give is, get books up to date with minutes reflecting
          all meetings mandated by the articles of organization, as well as get all
          your accounting up to date, and reports rendered to whoever is mandated, if
          any. As a fiduciary, you are personally liable if you have not performed
          according to the articles..
          -----Original Message-----
          From: tips_and_tricks@yahoogroups.com
          [mailto:tips_and_tricks@yahoogroups.com]On Behalf Of azusa8871
          Sent: Thursday, October 13, 2005 6:22 PM
          To: tips_and_tricks@yahoogroups.com
          Subject: [tips_and_tricks] Trust Management


          Hi !!!



          I am new to the list and may be doing something wrong, so let me say
          I'm sorry now and get on with my needs.
        • Bob: Gross
          the Harvey s are correct, If you are not the long arm trustee, nothing is valid ab initio. I assumed you were the long arm trustee, but maybe you are not. ...
          Message 4 of 8 , Oct 15, 2005
            the Harvey's are correct, If you are not the long arm trustee, nothing is valid ab initio.  I assumed you were the long arm trustee, but maybe you are not.
            -----Original Message-----
            From: tips_and_tricks@yahoogroups.com [mailto:tips_and_tricks@yahoogroups.com]On Behalf Of Bob: Gross
            Sent: Saturday, October 15, 2005 11:37 AM
            To: tips_and_tricks@yahoogroups.com
            Subject: [tips_and_tricks] Trust Management

            Best advice anyone can give is, get books up to date with minutes reflecting
            all meetings mandated by the articles of organization, as well as get all
            your accounting up to date, and reports rendered to whoever is mandated, if
            any. As a fiduciary, you are personally liable if you have not performed
            according to the articles..
              -----Original Message-----
              From: tips_and_tricks@yahoogroups.com
            [mailto:tips_and_tricks@yahoogroups.com]On Behalf Of azusa8871
              Sent: Thursday, October 13, 2005 6:22 PM
              To: tips_and_tricks@yahoogroups.com
              Subject: [tips_and_tricks] Trust Management


              Hi !!!



              I am new to the list and may be doing something wrong, so let me say
              I'm sorry now and get on with my needs.






          • Dave Miner
            Let me try to clarify some terms here so we can all address the same issues with knowledge. Assuming this is a pure trust, sometimes called a constitutional
            Message 5 of 8 , Oct 15, 2005
              Let me try to clarify some terms here so we can all address the same issues
              with knowledge.

              Assuming this is a pure trust, sometimes called a constitutional trust or a
              business trust, there are several parties involved and each have a specific
              role. As long as each plays their part, you have no real concern for
              federal encroachment. Cross any of these lines, and you run substantial
              risk of problems.

              EXCHANGER - the individual who wants the trust created and who has the
              assets to place into the trust.
              CREATOR -- the individual who creates the initial paperwork that establishes
              the trust.
              BENEFICIARY - the individual who will ultimately receive the assets of the
              trust, but not usually until the trust disbands, which could be never.
              TRUSTEE - The individual who manages the trust assets for the benefit of the
              beneficiary.

              The same individual cannot be BOTH trustee and beneficiary at the same time.
              You cannot manage assets for your own benefit and expect to escape federal
              scrutiny.

              The exchanger CAN be trustee but only under specific circumstances.
              Depending on your personal situation, the fact that you CAN be doesn't mean
              that you SHOULD be.

              The creator starts out as the only trustee and can be permanent trustee.
              Usually it is best for the creator to appoint another individual to be
              trustee once the trust is created. Once the creator has created the trust
              and is trustee, the creator can appoint any individual as trustee, including
              the exchanger. There are specific limitations on this, but if followed,
              there are no problems with the exchanger becoming trustee.

              Anyone can be trustee for a trust, whether related to the exchanger or not.
              The relationship restriction applies to the exchanger and creator - they
              cannot be related by blood or marriage. Both statutory and pure trusts can
              have relatives of the exchanger as trustees.

              I have been using business trusts for almost 15 years, and I have been
              creating them and serving as trustee on some of them for almost 13 years.
              The IRS has admitted to me, to clients of mine, and to judges across America
              that the IRS has absolutely no authority or jurisdiction over business
              trusts. However, if the IRS believes it is dealing with a trustee of
              limited knowledge, the IRS will lie all day long about its authority and
              jurisdiction. The important thing to remember is the FACT that the IRS has
              absolutely no authority to interpret law or to encroach on anything that it
              is not expressly given jurisdiction over. And the statutes specifically
              exclude business trusts from the requirements placed on statutory trusts.
              This means that the statutes explicitly eliminate the IRS jurisdiction over
              business trusts. It matters not what the IRS claims - if you know what you
              are doing you can beat the IRS every time.

              Yours in financial freedom,

              Dave Miner
              www.IRx-Solutions.com


              -----Original Message-----
              From: tips_and_tricks@yahoogroups.com
              [mailto:tips_and_tricks@yahoogroups.com] On Behalf Of Stub & Collleen Harvey
              Sent: Saturday, October 15, 2005 11:08 AM
              To: tips_and_tricks@yahoogroups.com
              Subject: Re: [tips_and_tricks] Trust Management

              If you created this Trust and you are the Trustee, You will be considered
              the same person; You must have a Trustee "off shoulder's length" in other
              words no family or relative.can be the trustee.
              The creator cannot ever bring the contents of the trust back into his/her
              name. and that has to be endorsed in the trust.
              everything is being done in the trust for the benefit of the Certificate
              holders ultimately. even though the General Manager has the right to operate
              the trust as certifyed by the Trustee.

              Do some Research

              S.H.



              ----- Original Message -----
              From: "azusa8871" <AZUSAUNLTD@...>
              To: <tips_and_tricks@yahoogroups.com>
              Sent: Thursday, October 13, 2005 8:21 PM
              Subject: [tips_and_tricks] Trust Management


              > Hi !!!
              >
              >
              >
              > I am new to the list and may be doing something wrong, so let me say
              > I'm sorry now and get on with my needs.






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            • AZUSAUNLTD@aol.com
              Hi !!! Thank You for your input, I am at a long arm distance as I had this U.B.O. created by a company that only created these types of trusts and has since
              Message 6 of 8 , Oct 16, 2005
                Hi !!!
                Thank You for your input, I am at a long arm distance as I had this U.B.O. created by a company that only created these types of trusts and has since gone away. I am now wanting to use this tool for more then a set of papers to look at, I want to start a business in the trust and I want to place several more of my personnel belongings into the trust for safety.
                 
                Ron Shafer/ Trustee AZUSA Unlimited
              • AZUSAUNLTD@aol.com
                Hi !!!! Thanks for your response, I am a trustee for a U.B.O. which was formed several years ago by a company that is no longer in business, they were the
                Message 7 of 8 , Oct 16, 2005
                  Hi  !!!!
                   
                  Thanks for your response, I am a trustee for a U.B.O. which was formed several years ago by a company that is no longer in business, they were the creators and also provided one or two of the trustee, as well as management of the monthly needs of records and watchdog process.
                   
                  I haven't been doing the necessary paper work, for quit a while as I am not sure what needs to be done, I am looking for another company or person that can take over where the other company left off.
                   
                  I want to put some more things into the trust as well as start another business from the trust and I need the trust to be in order before I expose any new things to it...  Can you help or can you recommend a company or person with the knowledge to accomplish this need ????
                   
                  Thanks
                   
                  Ron Shafer/ Trustee   AZUSA Unlimited
                  530-596-4322
                • hobot
                  A Trust contract may also provide for a Trust Protector who has nil trust activity duties but does have power to change or assign new trustee[s] in case of
                  Message 8 of 8 , Oct 16, 2005
                    A Trust contract may also provide for a 'Trust Protector'
                    who has nil trust activity duties but
                    does have power to change or assign new trustee[s] in
                    case of neglect, imcompetence or death of trustee.
                    This protector must be at arms length from the creator
                    and trust itself but spritually in direct contact with
                    creator's desires for trust purpose and saftey.
                    One can get sloppy on a mere holding trust and only
                    handle outside taxes or bills with MO's and such as
                    no one ever wants or gets permission to look at records
                    minutes etc unless some legal damage challenge comes
                    up if it shorted someone or an injury on property.
                    But a bussiness trust should keep normal bussness records
                    especially if this is to be used for credit request or
                    pending sale of the trust or its bussiness. Unless
                    there is some legal challenge in financial dealings.

                    hobot
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