We can give you better asset protection by using a 541 Trust™. These are the top ten reasons our 541 Trust™ gives you better asset protection:
1. Better Statutory Foundation. The 541 Trust™ is supported by state and federal statutes throughout the country. Click HERE to see law supporting the 541 Trust™.
2. Better Case Law to Support It. The 541 Trust™ is proven by an overwhelming number of court cases throughout the country. Click HERE to see law supporting the 541 Trust™.
3. Better Confidentiality. The 541 Trust™ removes assets from your personal ownership and from any disclosure of your personal assets. It is a private document and it cannot be discovered through any public records.
4. Better Scope of Use. If implemented correctly, the 541 Trust™ can protect any type of asset, in any location, from any type of liability including lawsuits, bankruptcy, tax liens, divorce, or government actions.
5. Better Flexibility. The terms, conditions, and beneficiaries of the 541 Trust™ can be changed, and the assets can be returned to you without any cost or tax effect, at any time.
6. Less Hassle. The 541 Trust™ can be set up within a few days and it requires no appraisals, no gift taxes, no extra tax returns, and no ongoing maintenance.
7. No Tax Problems. You can transfer any asset into or out of the 541 Trust™ without any tax consequences. The 541 Trust™ does not increase or decrease your income taxes. I will coordinate with your CPA to be sure they understand and agree with the tax treatment.
8. Better Price. The 541 Trust™ comes at a better price and with lower ongoing fees than comparable plans.
9. Better Ethical Foundation. The 541 Trust™ must be done in advance of a problem for the purpose of providing security for your family in the event of currently unforeseen liabilities. We do not facilitate fraud of any kind.
10. Better Craftsmanship and Support. Lee McCullough is an adjunct law school professor who teaches law students how to draft better trusts. We have designed asset protection trusts for hundreds of clients and have seen many of them tested in court. Because the concept of the 541 Trust™ is the best in the industry, we are often hired by distinguished law firms throughout the country to serve as co-counsel in preparing 541 Trusts™ for their clients. The 541 Trust™ is sophisticated enough for clients with over $100 million, while simple and economical enough for those with under $100,000. We will customize your documents to your particular situation, and we will be available to provide ongoing support over many years.
If you would like to receive a detailed explanation and a diagram of the 541 Trust™, please call us at 801-765-0279 or click HERE to send us an email.
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To read a recent court case upholding one of our trusts, click here: Asset Protection Trust Upheld by District Court
To see many statutes and over 20 court cases upholding the 541 Trust™, click here: Law and Precedent Supporting the 541 Trust™
To learn why a 541 Trust™ is better than an Offshore Trust (including over 20 cases showing how US Courts attack an offshore trust), click here: Better than an Offshore Trust
To learn why a 541 Trust™ is better than a family limited partnership or LLC, click here: Better than an FLP or LLC
To learn why a 541 Trust™ is better than a Wyoming LLC, click here: Why You Can’t Rely on a Wyoming LLC for Asset Protection Purposes
To learn why a 541 Trust™ is better than a Self-Settled Domestic Asset Protection Trust, click here: Mortensen Case Holds that Self-Settled Trusts Don’t Work in Bankruptcy (unlike a 541 Trust™)
To read Lee McCullough’s recent article in Estate Planning Magazine, click here: Building a Better Asset Protection Trust
To read about some cases that show how this works in real life, click here: How To Attack an Asset Protection Trust.
To read some experiences where these are tested, click here: Stories-from-the-Trenches
Notable Facts about our 541 Trusts™:
“541 Trust”™ is a name that we made up to describe our best asset protection trust. No one else provides a trust quite like this.
Our 541 Trusts™ have been tested in lawsuits, bankruptcy, and IRS audits. None have failed to protect the trust assets.
We have created 541 Trusts™ for:
- 23 Law Firms that have hired us to do a 541 Trust™ for their clients.
- 6 clients with over $100,000,000
- 86 clients with over $10,000,000
- 11 clients protecting less than $100,000
- 1 Hall of Fame NBA basketball player
- 1 current pitcher in Major League Baseball
- 1 current offensive lineman in the NFL
- 1 current head coach for a BCS football program
If you would like to receive a detailed explanation and a diagram of the 541 Trust™, please call us at 801-765-0279 or click HERE to send us an email.