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Compare chart Irrevocable Trust, Revocable Living Trust, Non-Grantor Trust, LLC

LLC, Sub-S Corp, Family Limited Partnership

Comparison chart of Irrevocable Trust, Revocable Living Trust, Non-Grantor Trust, LLC, Sub-S Corp, Family Limited Partnership, Limited Partnership, General Partnership

Feature / Benefit Ultra Trust®1 Revocable Living Trust2 Domestic Non-Grantor Trust3 Limited Liability Co. LLC4
Asset Protection YES NO Protection, NONE YES YES
Eliminate Probate YES YES YES NO
Eliminate Estate Taxes UNLIMITED NO UNLIMITED NO
Defer / reduce Capital Gains Taxes Possibly, under certain conditions NO  VERTEX TRUST ® up to 20 years NO 
Defer / reduce Income Taxes NO NO YES, if combined with international structure NO
Form 1040 income tax benefits YES, Designed for asset protection, but Interest on mortgage and Real Estate Tax pass-through as a tax deduction to your form 1040.  If it's a business, all underlying income and expenses are passed through.
YES
You have done nothing. You still "own" the assets
NO YES
Comments:
Designed to hold your primary residence and ALL your other significant assets; the only structure that can hold Sub "S" stock; qualifies as an Insurance Trust (see footnote A)
With Ultra Trust ®  you no longer own the assets, you do not qualify for the probate process and you do not qualify to file and pay the estate tax.
Designed to eliminate probate. DOES NOT eliminate estate taxes; ABSOLUTELY NO asset protection, nothing more than an extension of your will.  In my opinion: a sham perpetrated on you by unqualified  professionals. Designed to defer all capital gains taxes when combined with international structure (see deferral of Capital Gains) Replaces Sub "S"; LLC Entity of choice for all new business entities; strongest asset protection for business ( see footnote A & B)
1 - UltraTrust - designed for your primary residence and all your valuable assets. May qualify as an insurance trust.
2 - Revocable Living Trust - sole purpose is to avoid probate. A very weak trust with no asset protection whatsoever. Extremely risky.
3 - Domestic Non-Grantor Trust - called the Vertex Trust®, an irrevocable non-grantor trust, a very effective and powerful devise. The Vertex Trust is designed for high net-worth individuals. May be combined with Foreign Asset Protection Trusts
4 - Limited Liability Co. - creditors will have a difficult time to pierce. Replaces the Sub "S" Corporation.
Feature / Benefit Sub "S" Corporation5 Family Limited Partner- ships Limited Partner- ship6 General Partner- ship7
Asset Protection Courts have rendered this structure worthless General Partner exposed for 100% of assets General Partner exposed for 100% of assets NO Protection, whatsoever. EACH PARTNER is exposed to the liability of ALL his other partners.  You should NEVER do business as a General Partnership.  Worse than Sole Proprietorship.
Eliminate Probate  NO  NO  NO  NO
Defer / reduce Capital Gains Taxes  NO possibly  NO  NO
Defer / reduce Income Taxes  NO possibly  NO  NO
Form 1040 Income tax benefits  NO  NO  NO  NO
Comments: The White Elephant. 
Professionals no longer regard this method of ownership as an asset protection device or tax efficient device.
He who "owns" the stock owns the company; NO asset protection for the shareholder; officers, or directors. Too many restrictions on who may own the Sub Chaper "S" stock for efficient tax pass-through.
Designed to slowly leave your company to your children; general partner has NO asset protection under attack by IRS ( See footnote A & B ) General partner has NO asset protection; he who controls the GP owns the company ( See footnote A & B ) it's extremely unwise to operate as general partnership; not only are you responsible for your own lawsuit(s), but also that of "ALL" your partners potential lawsuits
5 - Sub "S" Corporation - very limited application due to the restrictive IRS regulations; the LLC is better.
6 - Limited Partnership - the IRS is successfully challenging the nature and tax-sheltered benefit derived; the LLC is better.
7 - General Partnership - unlimited risk on behalf of all your partners. This is worse than a proprietorship.

Sole Proprietorship:  If you operate your business as a " sole proprietorship", it's the absolutely worst way to do business and you're a walking lawsuit.  (I'm being tactful with my words).
(Footnote A) The Ultra Trust ® is an ASSET PROTECTION FORTRESS when combined with other structures: - the LLC, Family LLC, Limited Partnership, Family Limited Partnership, or is the owner of a General Partnership Interest.
(Footnote B) Creditor's sole remedy is a "Charging Order" against partner's "Capital Account Distributions".  When will the LLC partner get a "Capital Account Distribution?"  Answer:  NEVER.  Furthermore, the creditor is obligated to pay taxes on your taxable income, even though the creditor receives NO ACTUAL CASH  DISTRIBUTIONS.  Click here more information on the " Charging Order"



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