Ultra Trust® Asset Protection Plan. Trustee is Independent

Trustee is independent of you with the Ultra Trust® asset protection plan

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Why the Ultra Trust® is one of the best asset protection plans? The trustee must be independent

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What makes the Ultra Trust® such a powerful device as an asset protection plan is the independence of the trustee. The trustee must be independent; he cannot be related to you by blood or marriage. If you have trouble delineating yourself from your assets, you have to have the asset in your name, then the Ultra Trust® (the irrevocable trust) is not for you because you legally have to separate your assets from yourself to the trust.
The Ultra Trust® is like leasing a car. You don’t own the car, but you get to use the car. You get to pay all the expenses for the car. If it’s a business car, you get to tax deduct all the expenses related to the rental of that car. You get to use the car. The Ultra Trust® is essentially that. You reposition your assets from yourself to the trust. You no longer own the asset. If you no longer own the asset, no lawyer is going to take a contingency fee case where he’s going to collect 1/3 of nothing. The marketing people are not going to track to see how much money you have so that at dinner time you’re going to get a call from the kitchen guy, the window guy, the insurance guy and so forth to interrupt your dinner. You don’t own any assets with the Ultra Trust® so all your assets are protected; marketing people won’t get any information about you and your wealth.
If you don’t own any assets, then you don’t have to go to probate because probate is about people that own property, whether you have a will or not. And the Estate taxes which is taxation on what you own (i.e. estate property and other assets) on the date of your death is avoided because you don’t own anything. Therefore, you avoid all these headaches. And if you don’t have any assets, you also qualify for government services such as Medicaid and you can avoid the Medicaid spend down process when you enter a nursing home.
Continue to read part 5 of 11 on the Ultra Trust® benefits as one of the best irrevocable trust plans for asset protection here: Ultra Trust&reg Asset Protection Eligible Assets
Rocco Beatrice, CPA, MST, MBA, Managing Director, Estate Street Partners, LLC.
Mr. Beatrice is an asset protection award winning trust and estate planning expert.
To learn more about irrevocable trusts and senior elder care visit:
Category: Asset Protection, UltraTrust

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