FAQ

FAQ - Frequently Asked Questions about Common Law Trust.

How long does it take to set up a Common Law Trust?
Usually one business day, from the time that trust writer Randall receives your order. Typically it can be one business day, but it depends upon quest...
Mon, 20 Jul, 2015 at 8:17 PM
What is the difference between trusts and other legal entities based on common law, and ones based on statutory law?
Statutory law consists of millions of laws. They change every year and are so numerous and complicated that they require well paid lawyers to keep up with ...
Wed, 22 Jul, 2015 at 6:06 PM
Please explain what is the Protector, Creator, Trustee, Beneficiary?
 The words Creator, Grantor, and Settlor refer to the same person . . . the person who has the trust created and who places assets into it. The Trustee is t...
Wed, 22 Jul, 2015 at 6:14 PM
You said I don't own the trust, therefore I don't have to pay taxes. So who owns the trust?
  No one owns it -- it owns itself. That's the whole point -- to remove "ownership" (and therefore liability) from the individuals.
Wed, 22 Jul, 2015 at 6:17 PM
Do I get an EIN for the common law trust? How long would it take to get that #?
For others reading that question, the EIN is for those who wish to open a bank account for the trust in the United States of America. It stands for Employer...
Wed, 22 Jul, 2015 at 6:21 PM
What your friend does sounds very good to me although all the set up sounds like a total life makeover for me.
No, it is not a "total life makeover". All it is, is acquiring a wonderful instrument with which you can do many things. You don't HAVE to do...
Wed, 22 Jul, 2015 at 6:28 PM
I would like to see what a trust looks like . . . any site?
Your trust will be emailed as a Microsoft Word document attachment. Then it is recommended for you to print it on paper, if you wish, and insert it into a 3...
Wed, 22 Jul, 2015 at 6:33 PM
I have some concern about doing business over the phone to Hawaii.
Why? Most people shop online from around the world. You are not doing anything illegal, unethical, or that would need to be hidden. Other than not showing m...
Wed, 22 Jul, 2015 at 6:36 PM
This common law trust seems to be designed specifically for US citizens.
It wasn't "designed for US citizens". It existed long before the USA ever came into being. It is ancient. It was simply adopted and utilized ...
Wed, 22 Jul, 2015 at 6:40 PM
But I am a Canadian citizen and most of my close family are EU - European Union citizens (German citizens) and not US citizens.
That's absolutely fine. It is equally applicable to all countries. That is the appeal of it. The common law is universal; and therefore any trust based...
Wed, 22 Jul, 2015 at 6:43 PM