How Trust [LAW] Structures Underpin Everything + 1878 original source PDF used by "Oligarchs" such as Rockefeller Family
(badlands.substack.com)
Cabal History
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[1878] "A Concise Manual of the Law Relating to Private Trusts and Trustees" by Arthur Underhill: https://archive.org/details/aconcisemanuall00undegoog/page/n27/mode/2up
https://ia600907.us.archive.org/31/items/aconcisemanuall00undegoog/aconcisemanuall00undegoog.pdf
This 1878 document appears to be the original source for this modern document linked in article and below (2006) being used by the "elites" to avoid most taxes such as income tax, inheritance tax, and very likely MOST property taxes: https://ia801400.us.archive.org/12/items/trustee-handbook-1/Trustee_Handbook_1.pdf
[JAN 2006] "WEISS'S CONCISE TRUSTEE HANDBOOK: A GUDE TO THE ADMINISTRATION OF AN EXPRESS TRUST UNDER THE COMMON LAW, FUNCTIONING UNDER THE GENERAL LAW-MERCHANT"
BY CARLTON ALBERT WEISS
NACRS EDITION Jan 2006
-Page 40, "MAINTAINING PROPER I.R.S. RELATIONS", first paragraph
Not to be a party pooper, but most of this only applies to Trusts formed before 1969. In 69 they rewrote the tax laws around trusts to eliminate most of this. Now, the only thing they're good for is avoiding inheritance tax, which should be eliminated anyway since a death tax is both absolutely ridiculous and contrary to the American spirit of bettering yourself and your family (being forced to give up more than two thirds of your assets upon death instead of leaving them to your family is just wrong).
So yeah, this really only applies to the "old money" families, like the Rockefellers (as you mentioned). Another example would be the Kennedys. The way their trusts are structured, they're exempt from pretty much everything else except property tax and state income tax, as state laws very so much you can't avoid paying certain taxes. For example, a trust set up in Delaware, like the Kennedy Trust, may not have to pay income taxes because it's exempt due to it's pre-69 status, but if it owns property in Texas, it has to pay property tax on that property because Texas doesn't recognize that status.
Interesting. Are you saying they grandfathered in Trusts setup prior to 1969? And those Trusts, if established prior to the 1969 revision, do not have to comply with the post 1969 "rules"?
This probably means there is high demand for pre 1969 Trusts if they can be taken over and repurposed for more modern entities. From what I understand it is possible to have an "empty Trust" setup with all the correct paperwork just waiting for asset insertion. Unclear if there is an expiration date or how a "limited life" Trust is made effectively "infinite life".
Pretty much, the most well known example of such a pre-69 trust is the series of Kennedy Trusts set up by Joeseph P Kennedy (JFK's Dad). It's what allows the various members of the Kennedy family to avoid paying most taxes and grow their wealth, despite the dilution of the family fortune throughout several generations.
But yeah, if you can get your hands on a pre-69 trust, the only thing you'll have to do is pay a one time "gift tax" which is levied at the normal income tax rates to the trust. After that, all money generated by the trust is exempt from most federal level taxes.
As for the expiration date, it depends on how it's set up. The Rockefeller trusts for example, had expiration dates because they were set up in an era where it was required for trusts to end after a certain period (usually 25 years) and then be "renewed". This is why the Rockefeller foundation was started, because it allowed Rockefeller and his family to maintain control of their assets throughout the generations under the guise of "charitable work".
By the Time the Kennedy's made their fortune, a different form of trust called a "dynasty trust" had come into play, as several states had legalized such trusts. Basically, this type of trust allows for either extremely long renewal periods (anywhere from 300-3,000 years), to actually being infinite in their renewal period. It depends on what state you set it up in (South Dakota and Delaware are the best states to set up a dynasty trust in FYI, followed by Tennessee, Nevada, and Wyoming).
If set up properly, these types of trusts will allow a "head of family" to essentially pick their heir from each generation of the family, and hand of the rights and position of "trustee" to them each generation. The Trustee then sets up who the current beneficiaries are, usually themself and their family members, and takes on the corporate position of chairman, while hiring a CEO to run the trust as an actual business. By doing it this way, each time you pass on the trust from generation to generation, the renewal period resets (not that it matters in the states that allow perpetual trust renewal periods), meaning it's easy to pass on generation wealth, and the assets held in the trust are safe from the inheritance tax, debtors, creditors, spiteful ex spouses, lawsuits, etc. etc.
When you hear about super wealthy people setting up trusts, it's usually a dynasty trust because it protects them from being sued, divorces, etc. and still allows them to pass on their wealth to their heirs without worrying about probate, inheritance taxes, etc. While allowing the family to maintain overall control of the assets. However, unless it was set up before 1969 (and thus was grandfathered in as you put it), that's where their benefits end. They still have to pay all other taxes, including federal income tax.