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Here is your answer
Posted by gcastro on February 29, 2004 at 10:23 PM
In Reply to: use a title holding trust...go to jail? posted by Rick on February 28, 2004 at 11:30 AM
: You sister won't go to jail, if you use the proper trust format, in which it specifies that the trustee is free from any liabilities. The trustee only does what the beneficiary instructs him or her to do. Therefore, there is no way she would go to jail. She might have to go to court, but not to defend herself, but rather te beneficiary in case that the beneficiary did some froudulent act. Go ahead, ask an attorney that is familiar with trusts Gonzalo 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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