The Life of a Private Trustee
Jul 04, 2024I've discovered that breaking down complex legal concepts into everyday language fosters a clearer understanding of the trust's intricacies and its practical applications. Below, Carlton Weiss provides a wonderfully simplified analogy that paints a vivid picture of what trusteeship entails in our daily lives. Instead of getting bogged down by the intricate details of administering a trust behind the scenes, consider this: envision going about your business and personal activities just as you normally would, but now, undertake these tasks on behalf of a trust. It's a straightforward solution that eases the apprehension surrounding the complexities of trust management. By aligning the routine activities of daily life with the responsibilities of a trustee, the concept becomes more relatable and less daunting.
“The Trustee needs to eat, but does he buy directly from the store with his own Federal Reserve Notes or silver dimes? No. He buys on behalf of the trust and works out a private contract with the trust that enables him to eat the trust’s food and offset his trustee compensation the trust owes him for carrying out his daily duties.
He sees an advantage to owning a ranch in a certain jurisdiction, but does he make an offer to purchase in his own name and thereby acquire personal ownership of the property? No. He draws up an Offer to Purchase. The trust acquires the property and the beneficiaries of that trust benefit from his wise decision.
He can then can contract privately with the trust as to how he may use the property, offsetting his compensation if that use involves anything outside of his duties as trustee. Even so, there are ways to keep things strictly within trusteeship if you are really serious about living a trustee’s life.
Whatever contract he works out with the trust regarding offsetting things along the way with his trustee compensation is a private contract that actually is protected under Article 1, Section 10. There are no questions as to the validity of such a blatant trust relationship. Who’s asking? Another trust? The Constitution for the United States of America creates an Express Trust under the Common Law, as did the Articles of Confederation, to act as a limited governing entity.”
And here we have it, the straightforward and meaningful remedy to the problem of over-taxation and statutory gridlock: The Creation, Execution, and Administration of Private Express Trusts as Contracts.
This succinctly describes exactly how and why Frontier Capital Trust is distinct from other popular forms of trust creation. We are not gatekeepers with licenses who are dishing out a nearly incomprehensible stack of papers that virtually guarantee that you'll need to pay us in the future to use in any meaningful way.
Quite the opposite, in fact.
We are educators who have direct experience in the application of this knowledge, have compiled the resources that can teach how and why it works, and want everyone in the country to have access to the benefits we have seen.
Yes, you can pay LegalZoom or Trust and Will for a shoddy revocable living trust and sail off into the sunset meagerly enjoying a few benefits that the corporate elite have saw fit to neatly present you, or you can grasp the full extent of what is possible at law by redefining your entire relationship to property and wealth in private.
The choice is yours!
Written by Matthew Brower, citing "Principles of Trusteeship" by Javier Venegas and "Weiss's Concise Trustee Handbook"