A Private Asset Trust uses its' own name and identity. It is legally a separate entity, as if it is a brother or sister. Separate credit report, separate assets, separate liabilities. If you do not co-sign or combine it with others, or an individual; it remains separate.
Banks open separate corporate accounts, separate business accounts, and separate trust accounts.
The motor vehicle department, boat registry, and aviation registry are the locations to hold vehicle titles in corporate names, business names, and trust names. Owning and registering by using a Private Asset Trust (as the owner), keeps the name of the owner private.
Investments are registered and owned by corporations, businesses, and trusts. Investing by using a Private Asset Trust (as the owner), keeps the name of the beneficiary(s) private.
Income and Taxes
When it comes to taxes, some income can be declared or re-directed to select individuals, businesses, beneficiaries, charity, or causes. This could lower your tax bracket, maintain your privacy, reduce audits, or reduce liability. Additionally, the Private Asset Trust keeps it from being combined with a spouse or other family members (or their tax consequences).
Changing your name or creating a whole new identity can be done, but may not be effective, or even legal. The correct method that most beginners use is to create a corporation or similar organization like a Limited Liability Company (LLC). There are many methods. Some are complex, but it is usually not necessary or wise to be complicated. Often, a simple solution is all that is needed.
Creating a new organization is one way to get some privacy. This could mean starting a corporation, a Limited Liability Company, a partnership, a trust, or a few other variations of a new entity.
Creating a new entity usually creates some limited privacy, but will not accomplish much overall.
Basically, if you create it, or list an address, or your phone number, or register it, or buy something, or pay a fee to make it exist, or use your credit card, it can be easily found.
Some people use international organizations to seek privacy. Until recently, there were many "tax haven" countries designed specifically to manipulate taxes, do criminal activity, own assets, evade the government, or get privacy. This method is now difficult and very expensive to use, and any private use by a small company or individual is almost certain to be declared a crime. Because of the claim that offshore accounts are linked to terrorism, privacy using offshore entities has now been replaced by information sharing and prosecution of other civil and criminal actions. Most banks, financial institutions, and governments now openly share all information. That now applies to private ownership, family court, taxes, criminal activity, and non-crimes.
Recently, by formal written agreements, almost all tax haven countries agreed to the elimination of privacy for clients between nations. Almost universally, a Private Asset Trust can solve these problems without offshore extension and expense.
Today, you must create your own privacy. You can accomplish massive privacy with the use of many types of organizations, but the easiest, fastest, least costly and ultimately most flexible is the use of one or more Private Asset Trusts.
The goal of this website and our skills in asset protection is to assist families and children. We are not an avenue to assist you in evading taxes. We will not do so. We believe that all U.S. reporting requirements must be complied with and all U.S. taxes must be properly reported and paid.