Success Stories

Share your success stories.

0

TRUST ACCOUNT SETUP

 I am working with a dealership to help setup with the 1099A process, the question he asked me was should the TRUST  be Revokable or Non Revokable??


2 Comments
Avatar
Discard

thanks for posting this James!

Avatar
ISAIAH LEE DIXON
-

Hey James do you have Chris's E-mail. Oh and I believe the Circumstances of life are the perceptions and speculations of us individuals I also believe GOD does care whether its a car or bus plan etc. I believe we put GOD to far out to say IT is so omnipotent that GOD is beyond reason all things have a spectrum a form and a purpose you matter. YOU are pure living matter formed out of pure light. giving more reason and understanding to situations helps see the angles of why the perspective of things are. It may fickle us as individuals how great GOD may be but in the Grand Calculus of things I believe GOD cares and I just leave it at the

2 Answers
1
Avatar
James Scarborough
Best Answer

It would have to be an Irrevocable Trust. Once you are dead the Trust will stay in place....like forever. I have been checking to see if my father's CQV Trust could be given to my mother. I'm not sure it can be. A Revocable trust is a Trust that can be changed or revoked by the settler if he or she deems necessary.  Trust me, I don't think the US Treasury or FR is going to get rid of a Trust because the US Government gets interest off the trust until the end of earth. 

8 Comments
Avatar
Discard

Thanks, this sounds correct.

Avatar
Jason Cruz
-

or until you place a lien on your trust, am i right?

Being new to this and having a bit of Info. overload, how would I ( if i can at all ) change my chase bank savings/checking account into a trust or do the same with my Credit Union accounts?

Your link doesn't work. What bank did you use?

Avatar
Annie Zephyr
-

James, what is the name of the bank?

Avatar
ISAIAH LEE DIXON
-

HEY JAMES ARE YA THERE NEED YA BUDDY I HAVE QUESTIONS

Avatar
ISAIAH LEE DIXON
-

OK so James is a trust account and a bank account the same thing I been watching Chris videos and iv got a good understanding of how this works can I write a check to my self because my SSA is on file and as long as I use my beneficiary signature the treasury pays since its in my name that they created . so like if a 1099-A gets me a car then i need the same bank check that writes it to make a trust account is the bank account that i have already the same as a trust ? how do i sign the check ? its a hard time for me anything will help!!!!!!

Avatar
ISAIAH LEE DIXON
-

Hey James do you have Chris's E-mail. Oh and I believe the Circumstances of life are the perceptions and speculations of us individuals I also believe GOD does care whether its a car or bus plan etc. I believe we put GOD to far out to say IT is so omnipotent that GOD is beyond reason all things have a spectrum a form and a purpose you matter. YOU are pure living matter formed out of pure light. giving more reason and understanding to situations helps see the angles of why the perspective of things are. It may fickle us as individuals how great GOD may be but in the Grand Calculus of things I believe GOD cares and I just leave it at the

0
Avatar
Crystal Good
Best Answer

IF YOUR DEALIN G WITH A DEALERSHIP THERES A FORM 56 F THAT NEEDS TO BE FILLED  OUT AND SIGNED APPOINTING THE DEALERSHIP AS A TEMP TRUSTEE FOR THAT TRANSACTION  AND REMEMBER THE FORM 56F IS NOT THE ONLY FORM THAT NEEDS TO BE TURNED IN BY THE DEALERSHIP

Avatar
Discard