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so accounting is is my love and my specialty and studying the law and studying tres law with Randall mentoring me is my second favorite thing to do well you've been excellent at it and you have some 25 clients I believe of B I see who you've assisted with not many settler or trustee services and everybody seems to be happy yes so if someone is in the seminar and they're contemplating putting a trust together the nominee settler position is where you can literally nominate someone to help with anonymity of your trust and I have done that for a number of clients and then if in someone putting together their trust they do not have someone to hold an adverse position I've been helping people as a co trustee so everyone we're waiting for Randall to show this is his bio we generally introduce him as the head of the trust Department at brilliance of Commerce and founder of House of freedom trusts trustee of white light unlimited one people's public trust and creator of the International natural law trust and then we have today the elements of a valid private trust as today's topic Dominique I'm going to go ahead with the next slide and let you just improvise on that this is the slide that Randall wanted with intent through settlers words or conduct so for a trust to be valid it has to have expression of trust intent predatory inspiration of interest and sufficient intent so I know we're asking you a lot together I'll wing it until he shows up but if you can would you be able to comment on those things absolutely so the foundation of trust is that a trust is a contract we have the right to contract so what is explicit everyone's use of trusts throughout hundreds of years that they've been used is that the trust indenture is expressing the intention of the settler to create a contract where the trustee is going to be in charge of assets for the benefit of the settlers named beneficiaries and this intention has to be clearly written down in our private irrevocable trust in order to make the trust administration flow smoothly and in order for the trust to abide by some basic laws that trusts have followed for quite a number of hundreds of years now and is documented basically in court cases so if you look at black law's dictionary and you look up trust there are about 90 different trusts included in that definition and the trust that Randall has put together the trust indenture is very very specific and written in English so that it is more easily understood of exactly what the intention of the settler is you mean in plain high school English yes not advanced legalese no you do not need a black laws dictionary in order to administer your trust okay you're gonna laugh but chunzhen can you speak to be and then I could speak to see well predatory simply means based on having set an intention so as a preliminary qualification the the word predatory basically means that it's set up according to the plan or the intention the desire the purpose right and so the expression of interest has to be there in the beginning well what does this trust being set up for what's the purpose why you know and it started you know centuries ago is Randall explaining some of his webinars you know we're back in Old England when a lord of the manor had to go off to war or something and he wanted to protect his land and his house and all that he would turn over the control of it to a friend and entrust that to his friend while he was away and if anything should happen to him that he doesn't come back then the beneficiaries meaning his family and his heirs would you know the asset would be passed on to them so that friend would serve as it were as a trustee so that's an example of a predatory expression of interest would you like to elaborate on that that's awesome and I think part of that is when we're putting together our trust that we have a clear understanding of the role of a settler a trustee and the beneficiaries and my understanding is the way that Randall has his trust set up we use units of beneficial interest and a hundred percent of those units are designated to beneficiaries so it's very clear what the intention of the settler is and I think that speaks to the sufficient intent is that by having a very clear contract that's how we keep out of the any up in courts is how we stay out of and you have statutory we have our contract our trust indenture is so clear with the intention it's so much easier to administer and there are less legal problems all right should we go to the next one sounds good I do have a text from Randall saying what's the code so I'm about to text that to him excellent well we'll let you could carry on for them for the mullet here excellent and we came back up and he can catch the things that we haven't shared yeah trust property so you have the interest in the property equitable interest and alienability so what happens with a trust and basically this happens with all trust it takes an asset and it separates the asset into two things the first is equitable interest that's like the ownership title of the property or the asset and the second thing is beneficial use and by separating a piece of property or an asset into these two things we are able to actually better protect our assets so they trust property that's held in the trust the trustee signs for the property and then puts comma after their name trustee so they're signing they're signing for the trust as the trustee so they don't own it as a person but the trust owns it and the trustee is signing yeah I in honor of the trust as the trustee it's very clear on every document that's an important legal distinction correct so that is the equitable title and then the beneficial interest is what is enjoyed by the beneficiaries were you successful with Randall I got the code sent to him and let's see I haven't seen him yet but hopefully soon excellent I he Randall uses our brings to our education many excellent words in terms that I haven't necessarily studied just yet so I'm not quite sure the magic that he's going to explain with alienability but I do know this that part of the beauty of the trust is say you have a trust all set up it has a piece of property in a business in it and that trust is caring for your children say something happens unfortunately to one of the children where they suit well the trust has the ability the trustees have the ability in this trust indenture to withhold beneficial interest or even beneficial monies if for that child it actually makes it better in their case there's less that they can be sued for they don't own anything and you can't sue for a beneficial interest so in this way I'm visualizing you could alienate them for a short period while they work through their legal case and then when their legal case is resolved their beneficial interest can be resumed by the trustees so that is a really nice feature about controlling beneficial use by the trustees they can actually benefit the beneficiary through different ways that they're experiencing their beneficial use you want to comment on own nothing and control everything that's a beautiful mantra own nothing and control everything so in our trust if you choose to have a nominee settlor then you could wear two of the three hats and in that sense you could be a trustee and you could also be one of the beneficiaries and in that sense you are helping to control what's happening with the assets with other co trustees because at that point you should also have a co trustee who is adverse and by participating and working together you can guide so that those assets are increasing in their cash flow and then as a beneficiary you can be enjoying the use of a piece of property but you could never be sued for it because you don't own it so it's a very strong position rather than ownership we don't want to own but we would like to participate in the control okay you know they settler come cut can you see the slide yes with capacity hmm so there is capacity there's rights in trust property and there's the settlers procedures so I'd love to sew capacity normally means what you are able to do and technically speaking in the private irrevocable trust that Randall has written the settler irrevocably puts an asset into the trust and by doing that the the settler literally signs a document at the end of the trust indenture saying I I have a let go and and separates the settler separates himself from the asset and what that does is it protects it so now later on in life if the settler had a creditor who said hey for whatever reason I'm suing you for this this and this the assets that were properly placed in in a trust are no longer his so they're not available to any of the settlers creditors in the future for resolving some issue in the future they are now protected those assets are protected and the Trust property rights and Trust property that is held that there are basically two bodies of law that helped to govern what happens with trusts one is the law of contracts and the other is the right of property and it is strongly held up in courts in refute ibly that trust property is protected in a trust and what's really gonna be fun is when we get ran on the line he's gonna have magical comments that will enlighten us on many other things that that we don't know about because of his particular choice of words here it's it's very interesting well I like your choice of words magical well what I really enjoyed I've worked with a lot of contracts in 30 years I worked with contracts that were hundreds of pages and I needed two lawyers in order to understand how to function under the contract and the nice thing is Randall has worked for so many decades in this industry he really has helped to resolve down exactly what we want to do in our trust and also advise us what we don't want to do so he when people work with Randall he gives good suggestions so that when your trust is set up you're clear about certain things that you should do and some suggestions about something perhaps you shouldn't do so he's very very helpful to us as his clients in the fields of science and education it's known that one of the greatest talents is to be able to take something that only you know multiple PhDs can understand and convey the same knowledge in layman's terms exactly exactly that's rare and that's what Randall's been able to do and I I have a favorite quote when we do our trustee study groups where I keep reminding people we may study something that's complex but we know that we have gained elegance and grace when we have distilled it down to simplicity and maybe you've decided we don't need that complexity that's even better right it just confuses things exactly and that's done intentionally in many fields of law unfortunately the creation of gray areas yeah yeah it has been done many times through legislation but the goal with this trust indenture is that all of our laws the United States are based on common law which was the unwritten law and then the statutory law is what our legislature our legislatures vote on and approve and so the idea is that we're always supposed to be in harmony with common law and I like to think of common law is what makes sense to the common man so this trust indenture is using language of what makes sense right I still don't see Randall so you still have the floor okay let's proceed we have this one is about the trustee so trustee why do we need a trustee capacity to take to take and hold title capacity to administer and co-trustees so if you just had a settler the person who has an asset also called the grantor and a beneficiary so if you only had those two people you have what we all currently have we have our person and our person wants to give to another person so that's that's what we currently have by making a contract and bringing into it the title of a trustee someone who we place our trust in we are creating a situation that we cannot create on our own so the position of the trustee is able to take equitable title of an asset and the only way that we can do that is through creating an entity through creating a contract to make that happen otherwise the trustee doesn't exist the trustee is created by our trust indenture and the intention that we put into our trust we create that trustee position and we literally appoint our first trustee so the nice thing is you can have multiple trustees and that's really nice it's like having a corporation and you have multiple people on your board so that you can make the decisions and have advisors so you may in your trust you may have someone who's excellent with business and acids and getting a cash flow going and then you may have a co trustee who knows the beneficiaries and who um understands how best to care for the beneficiaries because it's not always money that a beneficiary needs they may need recommendation for a good college to attend or they may need mentorship tons and there are a few questions I think in the chatbox yeah you know I was thinking normally everyone we wait until the question and answer section of the webinar to entertain them however since we're waiting for Randal Dominique if you wish you're welcome to take since this one question has to do with the trustee topic that you're on right now yes there's an excellent question about an adverse trustee and what is an adverse trustee so you won't see written in your trust indenture the word adverse what we are describing is the kind of person that the the person is who is your trustee or Co trustee so adverse legally it's applied to trustees in that that person is not related to the settlor by blood marriage or employment and what that means is that person can't be manipulated in the decisions that they make so it's very important that this be clear in the way that your trust is set up because if you don't have an adverse trustee and the trustee is under the control of the settlor then there is a possibility that something could be undone in your trust if the settlor is oscillating my computer tells us the time if the settler is also beneficiary so that adverse position is in order to make your trust administration very clear and clean because the decisions made regarding the assets they have to be made in the best interest the beneficiaries the settler who unlike a trust that's created a death the settler is still alive so the settler is able to comment to the trustees about how's it going and you know they can offer some ideas and suggestions but they don't control the trustees and so by having an adverse trustee someone who's not related by blood marriage or employment that person can make up their own mind as to whether the action contemplated is in the best interest of caring for the assets and caring for the beneficiaries meaning that if the trustee were too closely related and the trusts were challenged the court could potentially say that that person is just your alter ego and you know it's not really there's no separation and therefore it's just still the settler controlling everything which is considered a sham in the trust community it's called a renters trust meaning the grantor still stays and control everything he hasn't really turned over control of things sufficiently correct and that that is a vulnerable position Randall coaches us with the private irrevocable trust how not to be vulnerable so why do we need that trustee we need the trustee to hold title of any assets that are inside of our trust the trustee is also the administrator and you can have multiple trustees so that this way both the assets and the beneficiaries are properly cared for there we go so next slide is identifiable beneficiaries so we're gonna review the necessity of having beneficiaries the provisions for satisfying the requirement the trustees awareness of intended beneficiaries so this is a very interesting slide because in our trustee study group we've had a number of questions about the beneficiaries and so my understanding is limited to a couple of court cases and studying the book the art of passing the buck in there it suggests that one of the responsibilities of the trust is that it at some point sometimes it's done at year-end that beneficiaries should be notified of what's happening inside the trust some basic not lots of detail but some basic summary reports so that they know that the trustees are doing their job of caring for properly caring for the assets and they could you know ask some questions and interact and the idea in the art of passing the book is that what we want to do is create they call it a family trust so whether it's a family that's blood or whether it's a family of friends that you have adopted we want to create a family of trusted people where we are creating an ability to use wealth wisely and ensure that the wealth passes on from one generation to the next and the most important wealth that we all possess is actually human capital so that is our knowledge of how to go about the art of living the art of business the art of creating cash flow the art of sharing resources and doing things in a socially responsible way so that necessitates that there is a relationship that becomes formed between the trustees and the beneficiaries inside the trust indenture there are very specific sections that spell out how the trustees are to care for the beneficiaries so it's not left up to your imagination there's very specific instructions and the grantor can also write some letter or some notes that can be incorporated as trust minutes that also speak towards how the settler was intending for various beneficiaries to be cared for like for example if you have a younger child there may be an intention that the child either be encouraged to go to college or to attend a trade school and that there be monies made available to make this happen so there's the basic powers of the trustee to care for the beneficiary are very well written out and then also the settler can make comments about what more they would like done with beneficiaries writing down a note and that can be incorporated into trust minutes and the trustee has to gain a knowledge from the settler of what is their intention for their beneficiary is there something that they need to know perhaps the unfortunately sometimes we have beneficiaries who are experiencing business troubles or personal troubles or even medical troubles and we need to know as the trustee hey settler how what's your intention of how this beneficiary's needs should be met how would you like us to to work with them so it is think of it as creating for me I think of as creating a family environment all right do you have some more to offer to Johnson no you're doing great and you're getting compliments from the audience I do see a note about how to join our study group if you have a trust indenture from Randall just going to brands and commerce and put in a support ticket and just send a note to Peter and at onson say you know please please give me the link to the study group and you'll get passed on to us so that's how we do it actually it's supposed to be automatic if you're a trust client if you've paid and purchased even a none activated trust from brilliance and commerce then that is supposed to automatically put you on the newsletter list for they trust study groups that Dominique conducts but if you're not receiving those then let us know yeah perfect so valid trust purpose must be used for honest legal purposes so this is incredibly important if you have an illegal intention this private irrevocable trust will not work for you this trust it's it will only protect legal lawful efforts but that is the only way that it works so if there is anything that is illegal you will immediately be thrown into the statutory world and you will have to respond to subpoenas or respond to search warrants and yeah so everything about this private irrevocable trust is based on integrity it's based on ethics you know clear morals about wanting to help people and winning basically you're promising as a trustee you're promising to be a servant in kindness to the beneficiaries and you're working off of the intention clearly stated by the settlor ah so someone said Skype is breaking up a little bit sorry about that I'm plugged in but we are working through different states and our wonderful Randall is working from Hawaii so he may even be having a connectivity it's not breaking up I don't think for the rest of us oh good excellent and we're hardwired plus it's not Skype it's zoom good anyway Oh excellent oh we have a message here from Randall everyone he says I'm not fit for the show today sorry I'm pretty distraught was ready earlier this a.m. and something triggered something so for those who didn't know Randall lost his wife what was it in October yes and he's been having a hard time getting over that she passed on to the other dimension so please send your blessings and love to Randall he's not feeling well so you'll have guess it's yours and he will enlighten us further on all the things that I have missed beautiful conversation with them but our hearts person and best wishes go to him yes it's good practice for you next slide okay well we're into questions now so we can go ahead and do questions awesome so if I'm not see I'm gonna as you can tell Randall as you were saying he kind of elaborates a bit more on each of those and unpacks them you know but yeah the Q&A can give you that opportunity to do as well and that way we know what everyone is wondering about you know exactly and the interesting thing is he contests the ascending trust knowledge if I'm not mistaken and I really like that yeah part of the purpose is to realize when we get involved in our trust most of us may not know anything about having a trust we mean have never dealt with someone who's died and then had assets to pass on to other people so we don't understand the need for any of this and so in beginning with the trust our knowledge is ascending and if you enjoy reading books I really enjoyed the art of passing the buck vol 1 because in there it suggests it may take a year or two before you're really comfortable driving this beautiful vehicle called a private irrevocable trust and that is totally okay and that's part of why we do a joint study class together because we are all enjoying this journey of learning together and trying to weed our way through what we want to do and keeping it as simple as possible but also realizing Trust Administration requires paperwork you are going to learn to produce different documents which you will print and sign put into a binder and that binder is your trust entity with those signed documents and your intentions in writing so we do this together and the nice thing about thinking about that you don't have to feel overwhelmed if you jump in and you're your intuition is saying this is a good thing I need to get involved with this I encourage you wholeheartedly that there is lots of support and that you will be able to understand how to lay the foundation for your trust with Randall's help and also administer it so I want to encourage everyone if you have not purchased a trust yet and you're considering it please do so let's see so for those who don't know if you're on the telephone and you want to raise your hand to ask a question press star 9 and if you're watching via a smartphone or computer then you have two ways you can either click on the raised hand icon excuse me or you can type it into chat so there's a wonderful question regarding own nothing and control everything if it is your property originally how are you not the grantor of the trust and do you change ownership of the property so as to avoid liability so this is an interesting question I'm going to unpackage it a little bit so first say that you are the settler of your trust when you create your trust there is a schedule that you can list your piece of property on that you want to put into your trust and you will literally exchange it into your trust and by doing an exchange that is not a taxable event what is taxable is when you sell something or what's possibly taxable is when something is sold or also possibly when something is gifted so in Randall's trust indenture he gives very clear instructions about how property is exchanged into a trust and what that does is it makes the trust a pass through the accounting term is called a a pass-through entity so our goal is that if there is a possible tax event that would happen either before an asset goes into a trust or it would happen as the beneficiaries are receiving benefit there may be a tax event to the beneficiary but inside of the trust we exchange assets into the trust such that the private irrevocable trust is they pass-through entity and if you have more questions very specifically about that when you're working with Randall he's really good at answering emails and addressing your specific concerns and yes the ownership of the property will change once you put it into the trust you will then be doing a quick D depending upon where you're at or what country you're in I in California in the United States we can do a quick deed and change the title of the trust I change the child of the property into the name of the trust good question excellent question one question that came in to me the other day that might be of interest to others is it came from Australia and it was regarding the superannuation which is their form of an IRA or Keo retirement pension how can they make that work with the natural law trusts and of course I talked about the trust being the beneficiary of it because most retirement pensions will not allow the trust to be the owner but it can be the beneficiary do you want to comment on that yes so anytime that someone some body when I say someone somebody wants to tax you then that situation can't be owned by the trust but the trust can be the beneficiary such that a taxing has occurred either before or after so that that's why trust can be beneficiaries and just real quick tunson there is an additional question so who actually owns the property in the trust so when you put an asset into a trust the the asset has now been broken up into two things it's equitable title so that's the name of who owns it and beneficial use so now that asset so say it's a house that house will now have John doh trust as the name on the deed and the person who signed it could be Jane Doe trustee but the person who's enjoying the use could be the son Eve and our evident and sister Eve could be enjoying the beneficial use they could be the beneficiaries of it so yes indeed the property will take on the name of the trust and that document is signed by the trustee they put their formal name comma trustee any other questions and I let me know if that doesn't clarify your question as well and another question that often comes is I have an LLC or I have a corporation and should I continue doing business with that and add the trust to it or should I just let go of that statutory entity and just do direct business directly from the trust and their pros and cons either way yes and so it's nice to write down the pros and cons and when you're working with Randall he does weigh in on what he thinks simplicity will be best for you it sort of depends upon whether inside your LLC what kind of work that you're doing so if you're doing the kind of work that is just serviced over an Internet and there's there's not much materials there's not it's imagine something you're you're providing an online product that may be something simple that you can run through the trust but if you're running an LLC and it's a construction company it may be easier to manage your business as an LLC and they're there different legal reasons for doing that as well so for me for quite a while my LLC will actually have two LLC's they my trust is a member of my LLC's Johnson I'll let you I can't control the asking there's someone I think you has their hand up okay JB you are unmuted if you wanted to ask your question verbally oh hi I don't oh my gosh firstly I want to say that this is outstanding hi Tamsin and nice to talk to you again I'm sorry about Randall really sorry um really it just dies you know like to see him recover but apart from all this I heard and you guys might not know about it but I read some time ago we're under an economic emergency which is where we're headed that the banks can take your trust and its contents and if that's true upon research how can we protect against it that's one because I said I thought that was absolutely you know nobody can touch the trust under an economic emergency they can collapse everything or take everything I'm not sure that's true but if true then how can we protect against it that's one question I do have taken it is in my humble opinion not going to happen yes there are all kinds of things that could happen the sky could fall I've seen those things too JB I've you know there are lots of fear speculations out there and some bad things are going on around the world but on any mass collective scale if everyone doesn't mind I'd like to make a personal prediction mark my word it's not going to happen on any big widespread collective level and I've written in my recent newsletter about that that you know people who are saying the banking system is going to collapse in order for the new no it's not gonna like you know fall apart overnight it's just not going to happen that way there are is a gradual process in which the higher ways of exchanging money worldwide are replacing the old ways you know the asset based monetary system is replacing the debt based monetary system and it's a gradual process that is speeding up but there's not going to be any widespread crash confiscation you know and that sort of thing furthermore I would expect that any kind of edict that has gone out saying that there could be asset forfeiture like that would apply only to statutory entities because they have no jurisdiction over these kinds of natural law trusts that's one of the reasons we design it the way we do is that it is not subject to the governmental jurisdiction of any authority anywhere in the world but if it oh can i interject here first Tansen on what you said but if it's in a statutory Commercial Court and then don't they have authority as custodians over your trust no that's one of the reasons we've been saying that not only have our trust not been invalidated but they cannot be invalidated now certain transactions perhaps can come under the jurisdiction of a court but not the integrity of the trust itself okay and okay well I'll come up with the other follow up but okay don't eat good now I appreciate your question and my background I was once a stockbroker with AG Edwards and an insurance agent in California and I stopped being a stockbroker an insurance agent because I felt that the ethics of what was happening putting everyone's retirement money forcing everyone to put their retirement monies into the stock market it didn't make sense to me so I have a lot of experience with statutory what we are encouraged is to I understand the private irrevocable trust is based on the law to contract so that law to contract is protected by the Constitution so my guess is if someone were to try to come after us they would also be trying to go after the Gettys the Carnegie's the Kennedys and I don't think that's going to happen so I'm an agreement I did not see that portent happening well they had that you know that situation in Greece where they just shut down everybody's bank accounts and many of those wealthy it was very wealthy that lost quite a bit of their money and they had their trust set up in those in those banks so and also Lagarde just announced the IMF that we're headed for a depression that she announced at Davos so a serious depression so I just didn't know in preparation of that transition as you so state Tansen how we can guess this if if that was headed if we were headed where we're putting our assets and protection like you said it probably pertains exclusively to statutory trust so that's that's helpful yeah so I mean everyone has to so the bottom line role is with assets you should diversify that makes sense so what is diversify mean it means try to have some property try to have some cash try to have some gold you have different kinds of assets eggs in one basket exactly what the basket is the trust it's all in one trust right are you saying make multiple trusts and multiple banks there's a confusion here when I say have multiple assets it is okay for the basket to be the trust we're saying have multiple assets so for example in my trust I have an envelope of cash that my trust owns and that's why I also have a small bank account and that's why and the more assets you have the more trust you should have exactly okay you can have an sub trust wouldn't be as good as individual separate trust so that's something that you'll have to think out because it's in regards to how you're managing your assets so if you decide to have multiple trusts the choice is whether they are all totally separate from each other which means you have to have lots of separate people managing those that aren't related or if you have a management trust and then the assets are held separately in a layer of baby trust and that's something that is really good to think out on a piece of paper and then ask Randall questions about what his thoughts are okay um apart from that if you set up a trust management company or work with one how does that fit in to the assets that you put into a trust into this natural law trust would you turn over the trust or parts of the assets to them how do they get wind of your trust how do they work with your trust what do they do with it if you have all the assets tied up in it so that they need let's say they yeah so if you're the trustee of your trust and you decide that you want to work with a trust management company because maybe you have lots of property and lots of different assets and you're like wow paperwork's overwhelming I need an assist so the people who help you they can either work with you via contract such that it's like you can rent a secretary or rent a consultant and they can prepare various documents and share ideas and then it's your signature that would actually make something happen that's one way to do it the other way is you may interview someone and you say well I find you to be a trustworthy person and you can decide whether they should be bonded or not and you may decide as a trustee to appoint another co-trustee and then you would continue to work together but in my mind for me I will not be just turning over the reins cuz for me personally that doesn't work I just didn't know if they need to handle let's say they're designing your projects or creating developmental plans 400 page documents and they want to work with your assets you know your currencies or whatever how do you funnel those currencies out of the trust to pay them or I just didn't know that working relationship I thought maybe somebody did yes it works just like a normal business would work you have a checking account you have a project you lay out a budget of what you're going to be working on you make someone in charge of who's going to check cut checks and what's their authority of whether they cut them and you're the one that signs them it's that similar to the accounting controls that you would put in for a business there are very specific ways to protect the running the accounting of an entity that has a lot of resources there are safeguards that you put in place so that you maintain the reins in your hands while people are actually doing work for you so there are project management business models that are very easy to set up so that the work that you want to get done say you have a humanitarian effort you will to do it so you don't turn over the indenture to them do you or a certification minute or any of those documents that you would to a bank um you have to decide who you're working with the trust you have with them you may decide to have them sign a nondisclosure you get to decide isn't that wonderful you get to decide how you're going to work with someone okay imagine a little bit more learning curve for me to to determine that is there such a thing as too many trustees can you have too many or too much too much of a board that out this you construct your trust in such a way and is there just do they feed on each other argue with one another that kind of thing is there just when it when is too much what is the number hood there's some really excellent books written specifically for how to render service to nonprofits as a board member there there are a lot of excellent books on how to develop teams of people and how do you get people to work together mmm with that synergy and so before I would recommend that you pull a team together you may want to read a couple of books that will lay the foundation of how it is that that you want to work with people and what your requirements will be for who you choose to have on your team and I want yeah absolutely I wouldn't catch another question real quick someone said with the online business let's see what do I mean when I say run through the trust so that specific question would be really good to ask in an email to Randall only because I don't want to miss guide anyone but you do have the ability with this trust to operate in a way that you want to operate but we keep our trust as a pass-through entity so there is a way to run a business in your trust and maintain that accounting integrity of a pastor entity but it's a little more complicated then I can explain in this particular seminar so that's it one simple thing you can do is title the ownership of the business to the trust so you basically have a minute written and added into the trussing there was a meeting of the board of trustees on this day decided to transfer ownership of this business into the trust and then the bank account is in the name of the trust and all payments to the business are made to the name of the trust and all expenditures on behalf of the business are made from the trust bank account so that is how you run a business through the trust perfect thank you there's more you know more details than that of course but that's a simplified explanation you can get more details from Randall so someone asked what are the initial steps steps for starting a trust and I can't it's been so long ago I can't remember my initial steps well you go to the affiliate link of the person who introduced you or you know to the B IC website you go to the trust section you place your order that's what starts the process so once you've placed the order then you receive your welcome pages and the Welcome pages give you the next procedures you have to decide what name you want for the trust you have to decide who you want as trustees whether you want to be the trustee and everyone we are one of the only I mean I guess we're the only that I know of organization in the world that allows the client to be the trustee or to choose the trustee and you can either choose the trustee from your friends people that you trust or have us arrange a contract with Dominique for a professional trustee service so three different ways you can go for choosing trustee and then you have to choose the other officers such as the beneficiaries decide who's going to be the grantor or the settler so those decisions the criteria for those are described in the e-book if you haven't already done that read the e-book which is downloadable from the website and there's a section on there on the roles the roles of the beneficiary trustee and creative grantor or settler so once you've decided those things you fill in the trust client information form click Submit and that begins your dialogue one-on-one privately with Randall who will then write the trust for you set it up and answer all your questions about operation and I just want to say you don't have to have a huge amount of assets before you begin your trust it's actually highly recommended that you get this going while you have the time and resources to learn and read and think and and evaluate how you want to do things once you you know say you have a lottery now you have the pressure of making a whole lot of decisions all at once it's really nice to get this trust in place so that you now have a vehicle for you to over the next couple of hundred years put beautiful assets in there that will pass on down to future generations that's how I like to think about things and it also serves as a kind of magnet for prosperity you know it's like money sees that oh now you have this protected vehicle now it has a nice new home to come to exactly you're gonna laugh but I have a 5:30 appointment that I have to dash off to [Laughter] you did a marvelous job for filling in for us today Dominique thank you so much thank you thank you thank you thank you thank you everyone so Thank You Dominique we'll go ahead and conclude everyone and make it short today please send in any further questions you may have via our contact us on the website and hopefully on February 19th we will have Randall on and in the meantime anyone who wants to join the Tres study group please do so with Dominique which is in January it was two weeks before today's webinar in February I believe it's one week before yes it on the 12th yes trust study group was webinar with Dominique is on February 12th those of you who have a natural law trust can attend and everyone else everyone can join with Randall on the 19th assuming he is able to join us and Dominique you're getting a lot of compliments saying you were awesome ah our prayers to Randall we're sending him love and light and Heather's forever yes yes I agree you were terrific articulate and very very eloquent I have my pleasure take care everyone okay thanks house - of - freedom - trust calm in case you don't have a link three six zero two zero zero seven five two one is our phone number if you haven't already signed up for our newsletter and we will conclude with this nice saying the moment you start acting like life is a blessing it starts feeling like one so everyone thank you for your patience thank you for joining us today please stay in touch and we will see you soon