How do I properly manage the SPC trust account?
KnowledgeCo asked 10 years ago
I would like to know in great detail about managing the trust accounts. There is SO MUCH information on the Mega Information section of Sovereign Connection that it's nearly overwhelming.
Are there some specific documents that you can point us to as a foundational starting point? Things I am not sure of are: The trust is registered as a US-non foreign national meaning it is 'tax exempt' if I read that properly. What forms do I file with the IRS? None? I think I read that trust accounts have to payout excess funds once a year - or is that just a UBOT? Does the beneficiary get a check once a year or every so often or not until they are 25 or how does that work? How does the payout get paid - what instrument(s) is/are used? Is there a check system that can be ordered (such as magnetic account # style printed checks) or do I write hand-written documents or on white paper or ..... ? USTD accounts are available as online banking... Is there a document that goes over point by point the management of the account? That would be very helpful.... if there is a series of documents that should be read in a sequence to make this obvious knowing what those are would also be helpful.. I would like to get this part of the concept perfected so I can start diversifying the trust into alternate forms of securities besides US Treasury notations in a computer system and actually be earning the salary prescribed by the trust. How can I be authentic with creating security for the beneficiary with the interest generated by the bond (any bond, it doesn't matter what kind or what value) deposited on account at the treasury gathering estimated 5% interest with at least 1% paid back to the USTD account for use by the trust? Thanks! Knowledge Co You Want It, We Know It ;)
Are there some specific documents that you can point us to as a foundational starting point? Things I am not sure of are: The trust is registered as a US-non foreign national meaning it is 'tax exempt' if I read that properly. What forms do I file with the IRS? None? I think I read that trust accounts have to payout excess funds once a year - or is that just a UBOT? Does the beneficiary get a check once a year or every so often or not until they are 25 or how does that work? How does the payout get paid - what instrument(s) is/are used? Is there a check system that can be ordered (such as magnetic account # style printed checks) or do I write hand-written documents or on white paper or ..... ? USTD accounts are available as online banking... Is there a document that goes over point by point the management of the account? That would be very helpful.... if there is a series of documents that should be read in a sequence to make this obvious knowing what those are would also be helpful.. I would like to get this part of the concept perfected so I can start diversifying the trust into alternate forms of securities besides US Treasury notations in a computer system and actually be earning the salary prescribed by the trust. How can I be authentic with creating security for the beneficiary with the interest generated by the bond (any bond, it doesn't matter what kind or what value) deposited on account at the treasury gathering estimated 5% interest with at least 1% paid back to the USTD account for use by the trust? Thanks! Knowledge Co You Want It, We Know It ;)
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