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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]
use a title holding trust...go to jail?
Posted by Rick on February 28, 2004 at 11:30 AM
greetings all from california.... First of all, I have tax liens and unpaid taxes that date back to 1994-97 that are
soon to be remedied by paying them and is one of the reasons i WAS going to
purchase the title holding/land trust package offered here. But now...i could go to
jail...but first some background. In the past 6 months, a relative died and left me real property in california that is
valued at $800,000. It was my intent to purchase theland trust package as it was
advertised so that I would not have to put the property in my name but I would be
the beneficiary only...as advertised. In this regard, I have a trusted, non-relative to
act as my trustee as recommend but now my sister, as co-trustee, refuses to act. I am the co-trustee with my sister of the trust in which the property is now titled
and to which I am to receive it from. The problem is that my sister has hired a trust
lawyer and that lawyer tells her if she transfers the property, as co-trustee, to a
land/title holding trust she (and me) could be criminally liable and therefore, she
won’t. Her lawyer is stating that there are several issues they base this assertion...for one,
they are claiming that a creditor (IRS in this case) could invoke the ca. uniform
fraudulent transfer act, which would void the transfer. They also quote the federal
fraudulent transfer statute under IRC section 7341, as well as similar provisions
under 28 usc section 3301. They go further by stating that to hide property could subject me and my sister to
criminal liability under calif penal code section 531 where it states in pertinent
part...”every person who is a party to any fraudulent conveyance of any lands...had,
made, or contrived with intent to deceive and defraud other, or to defeat, hinder, or
delay creditors or others their just debts, damages, or demands...is guilty of a
misdemeanor.” They go even further in stating that IRC section 7212, it is a felony to obstruct or
impede the due administration of the tax code, including impeding the collection of
tax owed. US v Reeves, 752 F. 2d 995, 998 (5th cir.) cert denied 474 u.s. 834
(1985). Under IRC section 7201, it is a felony to willfully attempt in any manner to
evade for defeat the collection of tax. Under 18 usc section 371, a person may be
charged with conspiracy to impede collection. I understand what the word ‘intent’ means and there is no intent as I have stated
above and below. I do intend to pay my taxes but what I want to do is protect my
asset until I can sort out the problems with wrongful assessments of taxes they
claim I owe. I also do not intend to claim I don’t have an interest (still titled in my
mother’s trust) and then file bankruptcy to wipe out the taxes as that would be
fraud as well. Rest assured, there is no intent to not pay. My main concern is not with the word "intent". It is with all the other issues raised
with the attorney who claims that to merely transfer to a title holding land trust, as
advertised, would be considered to hinder, delay, etc. I disagree with this statement
because if this were true on its face, every attorney in the usa who prepared asset
protection vehicles such as nevada corps, family ltd partnerships and trusts would
be behind bars. So, what I need is a counter argument in the form of some documentation, ie cases,
cites,etc from anyone to argue these assertions from my sister’s lawyers to give her
the comfort level that she wont go to jail by acting as a co-trustee in which she
transferred property to my land trust. Me neither. Your assistance is greatly appreciated in a response either with cases to offset these
issues or direct me to an attorney who can...all of which I would gladly pay
accordingly. Can anyone out there help me? Regards, Rick
805.564.8020
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