Customer Reviews

The Constitutional Common-Law Trust : Liability Protection Asset Protection Income Protection

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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!!

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.

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!

Ignorance of the law is no excuse, but that does not prevent these "cpa/lawyer-types" in their reviews from going on and on in an effort to keep you ignorant. How many "lawyers/cpas" do you know that give free advise on their own time? So after skimming a few of these "pro bono" editorials, I concluded that the "truth hurts" and I ordered the book. Thanks! This book concisely gives you what you need to know to make an informed decision as to whether or not to pursue Common-Law trusts any further. And that is all I wanted. Yes, there is an additional charge for a form-filled, step by step manual, but you know ahead of time if it is worth pursuing. In my mind it is. A one-time charge of $500 is peanuts compared to the liability protection. Good info that the global elite do not want us to have.

This book contains unsupported opinions of the author and does not constitute legal advise. The IRS has consistantly ruled that these trusts are invalid (and sometimes illegal) in spite of what the authors claim. Since the publication of this book, there have been several rulings against these trusts and the reader should seek the advise of an expert attorney in this area.

I was recommended this book by my father. Everyone needs to know about this form of protecting assets no matter what level of income you may be. This book is easy and fast reading. Anyone concerned about securing their financial future NEEDS to read this text.

Constitutional Trusts/Pure Trusts are absolutely bogus. They are not legal trust entities and do not shelter income of any type. These trusts are tax scams that do not work. Please see IRS Notice 97-24; T.C. Memo 1994-303; T.C. Memo 1991-264.
Contact any experienced tax attorney/CPA for the truth.
Do not pay anyone to establish this type of "non-trust." If you believe that you can avoid income tax/reduce income tax by utilizing this type of vehicle, please reference the above mentioned Tax Court Memos. The IRS will prosecute. Don't believe this material.

this is a great book... if you care to place valuable assets in a protected business/contract-based entity, then this is the book to read.

from asset protection, to lowered taxes, common-law trusts are the way to go!

i strongly suggest you read the book at least 3 times, contact your attorney/cpa (if they know nothing of it find someone that does), then contact the individuals at the back of the book in order to assist in implementing this business holding entity.