Deed of Trust, Trustees & Testamentary Trust Explained
The Deed of Trust
One of the key components of the Master Wealth Control asset protection system is the asset protection trust (called the Deed of Trust). This is a new trust that we set up for you – it cannot be a trust that you already have in place for your own purposes. It has a particular set of rules that specifically set it apart for asset protection.
A Trust is a legal entity which is administered by a Trustee. A Trust cannot act alone – it owns assets, earns income and holds wealth via a Trustee. The Trustee is the person or entity in charge of running the Trust. It can be one or more individuals or a company. All of the wealth belongs to the Trust NOT the Trustee. Trustees can be changed, but the money and assets remain in the Trust. The Trust deed is a document which sets up the Trust. There is no Trust until a Trust deed is prepared and signed by two parties – the “settlor” who is in charge of setting up the Trust and the Trustee who runs the Trust. The Trust deed sets out the rules of the Trust.