The Constitutional Common-Law Trust : Liability Protection Asset Protection Income Protection [Paperback]

James Mathers (Author)

Book Description

ISBN-10: 0962864021 | ISBN-13: 978-0962864025 | Publication Date: April 1996

The Pure Trust textbook. Everyday explainations, with great detail; how-to make and run Common Law Pure Trusts to protect your assets, gain liability protection, avoid probate, reduce taxes and live in privacy.

This is the book that tells you everything you need to know about Pure Trusts. It is what the Big Boys use to protect their assets and pay no taxes. Used by professionals, accountants, financial managers, written for the average business entrepreneur.

Editorial Reviews

About the Author

James Mathers is a psychologist and researcher.

Product Details

• Paperback
• Publisher: Helion Pub (April 1996)
• Language: English
• ISBN-10: 0962864021
• ISBN-13: 978-0962864025
• Product Dimensions: 8.8 x 5.9 x 0.4 inches
• Shipping Weight: 7.2 ounces
• Average Customer Review: 3.1 out of 5 stars  See all reviews (8 customer reviews)
• Amazon Best Sellers Rank: #1,330,135 in Books (See Top 100 in Books)
  • #63 in Books > Law > Family & Health Law > Marriage

Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

2.0 out of 5 stars bad writing at its finest!!!, November 7, 2001

By 

Ira Salamon (Olympia, WA United States) - See all my reviews

This review is from: The Constitutional Common-Law Trust : Liability Protection Asset Protection Income Protection (Paperback)

To keep your interest and keep this short simply know that this book in my hand contains NO LEGAL ADVICE nor does it contain ANY INFORMATION ON HOW TO ESTABLISH A COMMON LAW TRUST. This book is simply the precursor to the authors' self-help book which runs (...)! Also this book contains NO LEGAL CODE!!!IRS of otherwise. The authors' obviously expect the reader to have a lot of faith in the truth of their deductions.

It may be true that Thomas Jefferson and Ross H Perot have established common law trusts but they had their lawyers do all the work!!! The actual paperwork of the trust is simple but it is necessary to pay for advice on how to file correctly. ALso, you may want to have a "professional" overview and inspect your work to make sure the IRS will have no problems with you.

Anyone reading this book should look for a book which contains encoded filing information...actual court cases and actual code always helps the reader understand and believe at the same time!!

8 of 10 people found the following review helpful:

1.0 out of 5 stars THIS BOOK IS A HOAX!!! BEWARE!!!, October 16, 2002

By 

"johnmjennings" - See all my reviews

This review is from: The Constitutional Common-Law Trust : Liability Protection Asset Protection Income Protection (Paperback)

I am the general counsel for a private trust company. Our average client has a net worth in excess of $30 million. Prior to being at my current position, I consulted with clients regarding sophisticated tax strategies at Arthur Andersen and prior to that I practiced tax and estate planning law at a major law firm. I give you this background so that I am not categorized as a lawyer of adviser that works with smaller clients and doesn't understand sophisticated tax strategies. We work with the top 1%of the top 1% of the wealthy in the U.S. and we constantly deal with national and international tax consultants on very sophisticated planning techniques.

I had a client approach me with questions about a so called "Pure Trust" or "Constitutional Trust" so I did quite a bit of research. The Constitutional Common Law Trust does not work. It is absolute tax fraud. The IRS letter referred to in the book does not say that the income generated from the pure trust is not taxable or is not includable in the grantor's estate. What the letter says is that no tax ID number is necessary for the trust in question because it is not a taxable entity separate from the grantor under Section 671 of the Code. Under Section 671 the income will be taxed directly to the grantor of the trust. That is a totally different than saying that income from the trust is not taxable.

We deal with clients on very sophisticated tax strategies that are not in the public domain. If the Pure Trust worked we would be very very interested in using it with our clients. The less money that goes to the IRS means more money for our company to manage (which leads to greater fees). But, unforunately, the constitutional common-law trust just doesn't work.

See IRS Notice 97-24 concerning abusive trusts.

There are many valid tax planning techniques that can operate to reduce assets and protect assets from creditors. The Constitutional Common Law Trust is not one of these valid techniques.

16 of 22 people found the following review helpful:

5.0 out of 5 stars Very informational and informative!, January 19, 1999

By A Customer

This review is from: The Constitutional Common-Law Trust : Liability Protection Asset Protection Income Protection (Paperback)

I recently read this book and it deals with the best kept secret in the industry!!!! I was some what skeptical at first, but when I found out that it is perfectly legal, I couldn't put the book down! I had never heard of the "pure trust" and when I made the discovery, I was astounded! I didn't know that I could LEGALLY LOWER MY SALARY AND TAXABLE INCOME WITHOUT TAKING A PAYCUT!!!! In addition, quite a few bills I currently pay (i.e. utilities, mortgage, etc.), could LEGALLY become legitimate expenses of the pure trust!!! You HAVE to get this book to find out how! Don't believe me? How about this. It tells you why this particular type of trust is prefered by some VERY prominant people (which it even lists, by name)! In the past, this was something that was reserved only for the rich, but not anymore! Even if you don't think you need a trust or even if you already have a trust, the information you will gain from this book is second to none! Even if you don't want to know, you NEED to know. You'll kick yourself later if you don't!