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Is it tax avoidance, tax evasion, or something else?

November 29, 2023 08:02PM
I hope this is appropriate for this forum. If it helps, I took Ward's Title Holding Trust private classes around 2003-2004. This is not a foreclosure question, but it is a title question.

Here is the scenario:

1. A pastor and his wife own a property in a living trust, "John Smith & Carol Smith, trustees of the Smith Family trust, dated 10/25/2000."
2. On 9/14/18, they transfer title to a different trust, "John Smith & Carol Smith, trustees of the Majestic Trust, dated 10/25/2000."
3. The property is then refinanced on 10/12/18, by 'Majestic Trust'.
4. The property is then transferred back over to the 'Smith Family Trust' on 10/27/18.
5. I assume that both trusts were created on the same day in order to work together to achieve some purpose.

What just happened? Why the quick transfer out and then back in the family trust?
How could the fact that he's a pastor as opposed to anyone else change why he's doing it this way?
If the wife is not a pastor, does that change anything?
Could the property really be owned by the church? Could this be a way to funnel money to the pastor and not pay taxes on it?

[www.churchlawandtax.com]

Eddie Ferguson
Subject Author Views Posted

Is it tax avoidance, tax evasion, or something else?

EddieF 249 November 29, 2023 08:02PM



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