Let's Trust Your Assets
Just its name, the non-grantor, irrevocable, discretionary, spendthrift trust, seems daunting, but once you take a closer look into each of its essential components, the financial potential is incredible. That’s exactly what the “Let’s Trust Your Assets” podcast is all about: helping listeners gain a better understanding of this unique trust.
About Economic Strategist
At Economic Strategist, we want to create a global economic revolution by serving others through the provision of knowledge and tools that enhance wealth, privacy, and the protection of assets.
Moving from the wrong side of zero and into a positive financial future might feel impossible, but it’s not. Our strategies are tailored specifically to each of our clients, which can be easily implemented more than they thought possible with how we structure and protect assets via our unique menu of copyrighted Spendthrift Trusts. Our financial instruments are tools which will give you the utmost in financial security in all your professional and/or personal financial areas which are the most vulnerable.
If you had the opportunity to secure both your assets and privacy while achieving tax benefits in the process, would you do it? Of course, you would. You may be wondering what the catch is, that this sounds too good to be true. But Economic Strategists possesses the golden key to this financial freedom and anonymity: the non-grantor, irrevocable, discretionary, spendthrift trust.
Just its name, the non-grantor, irrevocable, discretionary, spendthrift trust, seems daunting, but once you take a closer look into each of its essential components, the financial potential is incredible. That’s exactly what the “Let’s Trust Your Assets” podcast is all about: helping listeners gain a better understanding of this unique trust. Take a closer look into episode 2 of the show to learn more about the non-grantor, irrevocable, discretionary, spendthrift trust.
Closer Look into the Economic Strategist Podcast
Episode 2 began with host Rob Dalton introducing his guests Mark Dupner and LaTonya Brown back to the studio for the show. Dalton explained how the podcast’s title is a play on words about building a specialized trust that protects your assets: the non-grantor, irrevocable, discretionary, spendthrift trust. He first asked Brown a few questions about her history with this unique trust and Economic Strategist, to which she responded:
“When I started managing the trust, I was actually a middle school principal. Being someone who’d been involved in education for almost 20 years and coming to the epignosis of this missing piece is almost like there was an aha moment. My background was in business education, and I taught business education for all these years, taught that knowledge is power and how to handle your money, how to read the stock market. But what I didn’t have was how to protect your assets and how to enhance your wealth utilizing an instrument such as this.
So I decided to just take my life’s work and move now towards educating people on how to maintain your wealth through privacy and protection and through just some tax benefits that are available as well.”
Like Brown, many clients of Economic Strategist have similar epiphanies, Dupner explaining how their reactions are almost predictable. He can see it gradually register from their facial expression, and they’re ready to get him out of the way and find somebody how can get their account started. Dalton then asked Dupner to explain what makes the non-grantor, irrevocable, discretionary, spendthrift trust different from the common perception of the trust:
“Every provision that you just stated, Rob, is essential to make this trust perform the way that it does so uniquely to protect and manage those assets with almost ironclad-ness. Each one of those provisions was well thought out, has a lot of law substantiating, and is necessary to make this trust one where the assets are protected legally.”
Dalton then elaborated on the perks of the trust himself:
“Basically, when you set one of these up, you sell all your assets to this particular trust. It’s given its own tax ID or EIN number, you assign and delegate your assets, and you sell them to your trust. You don’t have any of that accountability and ownership anymore, the trust does. What ends up happening is the day-to-day operations of your life actually shift because you no longer have the house payment, you no longer have the car payment. So much of our income is spent taking care of our assets; you control them but you don’t own them. I wanted to mention that this is a copyrighted document that is highly specialized.”
Dalton then rolled out a couple of random questions for Brown and Dupner, the first being what the difference is between a compliance overseer and a trustee, which Dupner answered:
“A compliance overseer is really analogous to a CEO in an organization. The CEO doesn’t run everything that there typically aren’t hands on. The compliance overseer can effectively determine who’s the trustee and even the beneficiaries. [They’re] more of a guidance for how the trust will operate because the trustee is the hands-on person. The trustee will convey assets into the trust, but the compliance overseer just oversees it. And if you want, you can be both of these roles.”
Dalton then asked, “if a trustee takes income from the trust, is it a taxable event?” Brown tackled this question, answering:
“Yes, it is. I can as a trustee give myself a salary for being the trustee, [so] that’s income. That income in itself is taxable. However, on the other hand, I, as a trustee, have the ability to convey and sell assets into the corpus of the trust then, as a result, generate a bill of sale and a demand promissory note, whereas the trust then owes me money.
I can receive money from the trust that can be considered repayment of a debt, [and] in that instance, those funds would be a non-taxable event. It depends on the situation.”
Dalton admitted this was a lot to comprehend, but Economic Strategist has workshops each Tuesday evening. To find out more information or reserve a spot, you can call (888) 514-8787. He then continued the conversation by asking who the beneficiaries of a business trust would be. Brown responded:
“Typically the beneficiaries of the business trust would be beneficial trusts. For example, if there are three partners and they all own a business together and all want to get involved in a trust structure, we can structure that to where the umbrella piece of it is the business itself, and it passes through to each beneficial trust, which is in representation of the partners by whatever percentage is agreed upon.”
Dalton then asked Dupner for whom these trusts work best, Dupner responding:
Economic Strategist has sold and utilized over 30,000 trusts, and none have been broken, Dalton describing it as “truly a titanium vault of protection and anonymity.” It also provides multiple opportunities for tax benefits, on which Brown elaborated:
“The [advantages] I’ve seen more so than anything else [are in] real estate. When we’re buying and selling, utilizing the corpus of the trust, we are not subject to capital gains because capital gains can be declared as ordinary dividends at the discretion of the trust itself. That benefit is huge because it allows me to keep money and utilize that money to reinvest or built upon the wealth that’s already there.”
Dupner expanded on his experience with the tax advantages of the trust:
“[It’s] the deferral of the tax liability that would normally have to be paid out as an investment tax or business tax or capital gains, to be able to refer to the further that to future generations of beneficiaries and drive those numbers back down to the bottom line again. I always tell my clients [that] I want to see them get in return on investment up to 50%, and I would like to see their tax liability down to zero percent. So I try to change that paradigm that we usually go in thinking when it comes to operating a business.”
Dalton then asked Brown how there are no consequences to the party contributing assets to the trust, to which she responded:
“When you convey assets over into the corpus of the trust, and in most cases actually sell those items to the trust as well, then they’re no longer your property. So if it doesn’t belong to you, it’s no longer your responsibility. That’s the thing that people have really got to grab ahold of and understand: that you still maintain control even though you don’t have the ownership. It’s a blessing.”