How to Get Out of a Trust from a Trust Mill

Discusses abuses and issues in financial planning, including questionable compensation practices, bogus institutes and accreditations, bad products, annuity abuse, inappropriate life insurance sales, living trust mills, and related misconduct. Also answers questions about usually legitimate but developing areas such as life insurance premium financing, life settlements, charitable gifting strategies, etc. Includes discussion of asset protection scams.
Pspencer

How to Get Out of a Trust from a Trust Mill

Postby Pspencer » Sun Sep 26, 2010 8:21 pm

Anyone have any experience with getting a court to rescinding a trust? Maybe based on fraud in the inducement? Any other theories? (This one is not revocable.)

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notorial dissent
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Re: How to Get Out of a Trust from a Trust Mill

Postby notorial dissent » Sun Sep 26, 2010 8:50 pm

Just for giggles and novelty's sake, could you like maybe provide some information as to what type of trust and why, little insignificant details like that? The crystal balls are currently in for repair! So we have to do this the old fashioned way.
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Re: How to Get Out of a Trust from a Trust Mill

Postby Judge Roy Bean » Mon Sep 27, 2010 3:05 am

Pspencer wrote:Anyone have any experience with getting a court to rescinding a trust? Maybe based on fraud in the inducement? Any other theories? (This one is not revocable.)


IMHO, the term "irrevocable" is a misnomer. It boils down to the amounts involved and the resources you have to mount a legitimate challenge.

If you're asking about the kind of trust that has been promoted by various scam programs, the courts are loathe to recognize the validity of them if the purpose of the trust can be shown was to accomplish some nefarious objective, i.e., concealment of assets, elimination of debt, tax dodges, etc.

Having said that, someone who enters into certain kinds of trusts may have a difficult time proving they did so innocently.

You need LOCAL (state issues are always a factor) legal counsel to guide you through the mine field.
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bmielke

Re: How to Get Out of a Trust from a Trust Mill

Postby bmielke » Thu Sep 30, 2010 6:30 pm

Judge Roy Bean wrote:
Pspencer wrote:Anyone have any experience with getting a court to rescinding a trust? Maybe based on fraud in the inducement? Any other theories? (This one is not revocable.)


IMHO, the term "irrevocable" is a misnomer. It boils down to the amounts involved and the resources you have to mount a legitimate challenge.

If you're asking about the kind of trust that has been promoted by various scam programs, the courts are loathe to recognize the validity of them if the purpose of the trust can be shown was to accomplish some nefarious objective, i.e., concealment of assets, elimination of debt, tax dodges, etc.

Having said that, someone who enters into certain kinds of trusts may have a difficult time proving they did so innocently.

You need LOCAL (state issues are always a factor) legal counsel to guide you through the mine field.


I would like to add that depending on what side you are on you need a local attorney that specializes in trusts. If you are a debt collector trying to break it you need a collections attorney with that kind of expierience. If you are the grantor or a family member of the grantor you need an elder law attorney or an probate and estate attorney . Joe Blow General Practioner down the street ain't going to cut it.

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Re: How to Get Out of a Trust from a Trust Mill

Postby JamesVincent » Mon Feb 18, 2013 10:58 am

So now we're copying and pasting others posts and then using them in 2 year old posts. How..... nice.
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Re: How to Get Out of a Trust from a Trust Mill

Postby BBFlatt » Tue Feb 19, 2013 12:51 am

And then the link appears...
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