Learn more about types of asset protection trusts at legalees.com/a... For More Resources... Tax Planning: legalees.com/t... Personal Planning: legalees.com/p... Business Planning: legalees.com/b...
The whole off shore is Hocus-pocus dominocus. We're planting flags in different countries for business but they are completely separate and stay in those countries i.e. real estate, manufacturing, etc...and with all the available easy tax strategies available in the US you should be paying little to no taxes without all those headaches.
Is there a technical or actual difference between an "offshore" Trust and a "foreign" Trust? To my knowledge offshore is owned by a U.S. citizen but held outside the U.S. and foreign is owned by an actual foreign person or non U.S. citizen entity and operates in the U.S. jurisdiction lawfully and according to Treaty or other agreed authority between the U.S. and country of Trust origin. I am trying to decipher best ways to fund and otherwise commercially operate my Religious Trust organized in my country of first Allegiance which is Morocco within the U.S. pertinent to banking, financing, property acquisition, automobile purchasing, credit applications, etc
why the "credit card" scheme didn't workout? i know many chinese living in the states are using their chinese credit card to pay their living expenses in the states and had no issue. how would the IRS track those credit cards?
The first question on your 1040 form is do you have offshore accounts. In all court proceedings related to your financial status, there is what is called a debtor’s exam. Multiple questions are there about offshore. You answer correctly or are in contempt of court.
@@Legaleescorp The Anderson case you were referring to had a fatal flaw in the trust documents in that they retained control of the trust by being named as co-trustee. If you avoid this pitfall and do a true irrevocable trust then the foreign trustee can simply refuse to honor any domestic verdicts against your estate and will even refuse the grantor's request to repatriate the funds. There is legal precedent for this and no way can a judge hold the grantor responsible for the actions (or lack thereof) of the trustee. As far as IRS reporting is concerned I would say pay any taxes owed and that's that. How this is reported on your 1040 is up to you. People should do whatever they can to block our corrupt civil justice system from confiscating your assets and a foreign asset protection trust (Cook islands) is a great way to go.
@@Jnglfvr Yeah man I agree! I would even go as far as to say instill your payments as CHECKS or Echecks then get it redeemed into LAWFUL MONEY USC 12 then deposited. Therefore this reverts the fake money (FRN Private credit) to actual Gold money on paper to where we both know real money is not taxed because it isn't elastic but FRN is private property it is taxed & there's also a challenge of authority case on "1040 tax form " where a gentlemen won a case against IRS understanding he didn't have to pay anything to them. I here by quote "1040" is not demanded in a court of law under USC but only voluntary to even participate in so you don't even have to check that box about 1040 also to add trust are 1041 , those are ways the Queen or other foreign creditors can have access for a free payday due to fraudulent agreements congress signed about the American people who have signed themselves to the 10 mile radius through voting and the birth certificate to be deemed as property themselves and when they pay contribute to 1040 they are honoring what congress & the previous presidents did by placing Us Citizens as collateral for their debts in exchange for benefits and privilege's people sign up for and through them repay what they owe the Federal reserve and other foreign creditors they did business with. You sound like a good lad mate , right on!
What have you to say about a Foreign Trust? To my technical understanding, Offshore means off the shore you are actually on. But what if you are not a U.S. 14th amendment citizen but dual - National of Morocco and America with a Foreign Moroccan and Islamic Religious Corporation Trust? Not a nonprofit, but a Religious Corporation/Religious Society Trust. The Empire, not Kingdom, of Morocco was the first to Diplomatically RECOGNIZED the U.S. as a State and anything Moroccan enjoys Treaty protections and benefits, plus religious entities are nontaxable in the U.S. So with a 98 prefix EIN number on a Moroccan Religious Body Politic and Corporate aka Religious Society Trust, there should be no need for tax reporting at all; correct?
I have never done a blind trust, but you would use it when a person is turning over management of assets to someone to avoid a conflict of interest the person may have. The person who turns over management of the assets is going to be blind as to how the assets are managed, thus avoiding the conflict of interest. It has nothing to do with offshore transactions.
Surprised that lawyer is still around. If he stole 10-30 million from me that might be a problem. Maybe he isn't really living offshore, maybe he is taking a dirt nap.
Hello, I am the one who put the dislike on your video. Please clarify something with me then. If we know that settlors or grantors are not to be considered "tied" to the irrevocable trust or even the only trustee to be tied to the trust or maybe he's just a beneficiary . Because the court case isn't directed at you personally & that you are separate from the trust entity UNDER COMMERICAL AND COMMON LAW , how in the world can they take you to jail if its nothing pertaining to you?? I believe that only happens if you don't know your stuff understanding that your ALL cap name is not you anyway and that since the trust has nothing to do with your all cap name personally there's no LEGAL way they can actually affiliate you with it because it is not controlled by you but a 3rd party. So please clarify this with me and i will remove my dislike for i want to know what you know good neighbor (:
It seems like you are referring to an impossibility defense. Well, I hate to break it to you, that defense will not work in court. A judge is not going to exempt you from their order to repatriate funds from an offshore trust if a creditor can prove or, by your own admission through discovery, that you settled the offshore trust. The judge will simply say that you deliberately put yourself in a situation where it would be impossible to repatriate the assets. Therefore, the impossibility defense is not Bona fide. Accordingly, you will be held in contempt of court. So, as always, LegaLees is right about this. Offshore Trusts don’t really provide any benefit to you. Creating offshore trusts will just allow your attorney to retire offshore while you retire in a 6 x 8 cell. Now, to the extent that you are not held in contempt of court, you will never be able to access the assets of the trust. If your children are beneficiaries of the trust and they share any of their distribution of the trust assets with you, those assets will be seized from you. So, unless you want to completely give up the assets in the offshore trust, you shouldn’t create one. See SEC v. Bilzerian and American Ins. Co v. Coker and U.S. v. Grant
I know Andrew Henderson that does offshore entities but he also lives overseas now so that fits right in with what you were saying Lee!
Thank god for Lee's saged legal advice and wisdom.
The whole off shore is Hocus-pocus dominocus. We're planting flags in different countries for business but they are completely separate and stay in those countries i.e. real estate, manufacturing, etc...and with all the available easy tax strategies available in the US you should be paying little to no taxes without all those headaches.
Is there a technical or actual difference between an "offshore" Trust and a "foreign" Trust? To my knowledge offshore is owned by a U.S. citizen but held outside the U.S. and foreign is owned by an actual foreign person or non U.S. citizen entity and operates in the U.S. jurisdiction lawfully and according to Treaty or other agreed authority between the U.S. and country of Trust origin. I am trying to decipher best ways to fund and otherwise commercially operate my Religious Trust organized in my country of first Allegiance which is Morocco within the U.S. pertinent to banking, financing, property acquisition, automobile purchasing, credit applications, etc
I am unfamiliar with the treaty with Morocco, or trusts related to it.
Where can I find the cases that are mentioned
Just start a google search with something like "offshore individuals held in contempt for not bringing assets back" and you will get a good start.
why the "credit card" scheme didn't workout? i know many chinese living in the states are using their chinese credit card to pay their living expenses in the states and had no issue. how would the IRS track those credit cards?
As a US citizen you are required to disclose to the IRS any dealing you have off shore. That is a guaranteed audit.
Is because they are not US citizen who are taxed world wide
And how exactly are your creditors supposed to know that you even have an offshore account???
The first question on your 1040 form is do you have offshore accounts. In all court proceedings related to your financial status, there is what is called a debtor’s exam. Multiple questions are there about offshore. You answer correctly or are in contempt of court.
@@Legaleescorp The Anderson case you were referring to had a fatal flaw in the trust documents in that they retained control of the trust by being named as co-trustee. If you avoid this pitfall and do a true irrevocable trust then the foreign trustee can simply refuse to honor any domestic verdicts against your estate and will even refuse the grantor's request to repatriate the funds. There is legal precedent for this and no way can a judge hold the grantor responsible for the actions (or lack thereof) of the trustee. As far as IRS reporting is concerned I would say pay any taxes owed and that's that. How this is reported on your 1040 is up to you. People should do whatever they can to block our corrupt civil justice system from confiscating your assets and a foreign asset protection trust (Cook islands) is a great way to go.
@@Jnglfvr Yeah man I agree! I would even go as far as to say instill your payments as CHECKS or Echecks then get it redeemed into LAWFUL MONEY USC 12 then deposited. Therefore this reverts the fake money (FRN Private credit) to actual Gold money on paper to where we both know real money is not taxed because it isn't elastic but FRN is private property it is taxed & there's also a challenge of authority case on "1040 tax form " where a gentlemen won a case against IRS understanding he didn't have to pay anything to them. I here by quote "1040" is not demanded in a court of law under USC but only voluntary to even participate in so you don't even have to check that box about 1040 also to add trust are 1041 , those are ways the Queen or other foreign creditors can have access for a free payday due to fraudulent agreements congress signed about the American people who have signed themselves to the 10 mile radius through voting and the birth certificate to be deemed as property themselves and when they pay contribute to 1040 they are honoring what congress & the previous presidents did by placing Us Citizens as collateral for their debts in exchange for benefits and privilege's people sign up for and through them repay what they owe the Federal reserve and other foreign creditors they did business with. You sound like a good lad mate , right on!
@@Legaleescorp Well, indeed, you do NOT have off shore accounts. Correct? With an irrevocable trust the trustee has ownership of the account.
What have you to say about a Foreign Trust? To my technical understanding, Offshore means off the shore you are actually on. But what if you are not a U.S. 14th amendment citizen but dual - National of Morocco and America with a Foreign Moroccan and Islamic Religious Corporation Trust? Not a nonprofit, but a Religious Corporation/Religious Society Trust. The Empire, not Kingdom, of Morocco was the first to Diplomatically RECOGNIZED the U.S. as a State and anything Moroccan enjoys Treaty protections and benefits, plus religious entities are nontaxable in the U.S. So with a 98 prefix EIN number on a Moroccan Religious Body Politic and Corporate aka Religious Society Trust, there should be no need for tax reporting at all; correct?
I am unfamiliar with the treaty with Morocco, or trusts related to it.
When to use blind trust??
I have never done a blind trust, but you would use it when a person is turning over management of assets to someone to avoid a conflict of interest the person may have. The person who turns over management of the assets is going to be blind as to how the assets are managed, thus avoiding the conflict of interest. It has nothing to do with offshore transactions.
Surprised that lawyer is still around. If he stole 10-30 million from me that might be a problem. Maybe he isn't really living offshore, maybe he is taking a dirt nap.
"Bubba not as good to me"..you should charge for this...
Source -/-> trust me bro
Hello, I am the one who put the dislike on your video. Please clarify something with me then. If we know that settlors or grantors are not to be considered "tied" to the irrevocable trust or even the only trustee to be tied to the trust or maybe he's just a beneficiary . Because the court case isn't directed at you personally & that you are separate from the trust entity UNDER COMMERICAL AND COMMON LAW , how in the world can they take you to jail if its nothing pertaining to you?? I believe that only happens if you don't know your stuff understanding that your ALL cap name is not you anyway and that since the trust has nothing to do with your all cap name personally there's no LEGAL way they can actually affiliate you with it because it is not controlled by you but a 3rd party. So please clarify this with me and i will remove my dislike for i want to know what you know good neighbor (:
I am not sure I follow your question. Maybe you should call and we can talk. 801-802-9020
You are right
It seems like you are referring to an impossibility defense. Well, I hate to break it to you, that defense will not work in court. A judge is not going to exempt you from their order to repatriate funds from an offshore trust if a creditor can prove or, by your own admission through discovery, that you settled the offshore trust. The judge will simply say that you deliberately put yourself in a situation where it would be impossible to repatriate the assets. Therefore, the impossibility defense is not Bona fide. Accordingly, you will be held in contempt of court. So, as always, LegaLees is right about this. Offshore Trusts don’t really provide any benefit to you. Creating offshore trusts will just allow your attorney to retire offshore while you retire in a 6 x 8 cell.
Now, to the extent that you are not held in contempt of court, you will never be able to access the assets of the trust. If your children are beneficiaries of the trust and they share any of their distribution of the trust assets with you, those assets will be seized from you. So, unless you want to completely give up the assets in the offshore trust, you shouldn’t create one.
See SEC v. Bilzerian and American Ins. Co v. Coker and U.S. v. Grant
!
most boomer video on youtube