Fresh Start Trust

Lesson #1 Checklist – Starting at the Beginning ***This condensed version of the main lesson is for review purposes only. For an in-depth explanation of each of the items listed here, please refer to the main PDF file or the MP3 audio version.

In this first lesson, we’re going to talk about: what actions you need to take to assure your home is protected from unscrupulous money grabbers and frivolous lawsuits. In this first lesson, we’re going to talk about: exactly what

a trust is and the major differences between the two basic

types. You will learn what perils might be ahead for you if you

don't take action now to protect what you have and what you

will have in the future.

We'll be making some important decisions with the

information from this first lesson. You'll be

learning the difference between owning your

Millions of Americans deserve a

second chance. If done right, they will be financially secure for the rest of their lives.

Fresh Start Trust

Lesson #1 - Starting at the Beginning Checklist

© 2011 Financial Success Institute. All rights reserved. www.financialsuccessinstitute.org

2

business versus retaining full control of it

although it is technically owned by a Fresh Start

Trust. There are a lot of different types of

trusts established for many different reasons.

You need to know specifically why a Fresh Start

Trust is designed the way it is if you want to

fully protect your business and other assets.

There are five important parts to any trust. When

you finish this first lesson, you will know the

differences. Once you have that information

you'll understand other important concepts that

go into creating your own Fresh Start Trust.

What you will learn is not based on legal theory.

Asset protection has been around for centuries.

The rich use it all of the time so that they are

not sued. These concepts have been tested in many

court cases and by putting your Fresh Start Trust

together following the step-by-step directions

you'll be given, yours will stand up in court if

need be.

By the end of this very first lesson on Fresh Start

Trusts, you will have the tools and knowledge you need

to take immediate action. You won't need to wait to

complete the entire eCourse. After this first lesson,

you'll sleep better knowing you no longer need to

worry about putting a bunch of hard work into a new

business just to lose it in a lawsuit.

For some, this

concept is difficult to understand but the rich

use it all

the time

You'll be ready to

start planning

your future as soon as you finish this first eClass

Fresh Start Trust

Lesson #1 - Starting at the Beginning Checklist

© 2011 Financial Success Institute. All rights reserved. www.financialsuccessinstitute.org

3

THIS eCLASS OBJECTIVE - Over the entire eCourse you'll be learning everything

you need to know about protecting all of your assets.

Both personal and business related. Al lot of people

are familiar with the concept of using trusts to

protect assets but very few understant the important

aspects of trusts that actually accomplish this. If

the trust is not created correctly it will not

accomplish its primary objective of protecting your

assets. A court will simply declare the trust

dissolvable to allow creditors access to the assets.

Correctly structuring your Fresh Start Trust is the

primary objective of this eCourse. Throughout the

modules, you will be given detailed instructions about

exactly what you need to do to accomplish this

important task. There will be variations depending on

the laws in your state. You will use the concepts and

instructions from this ecourse to work with an

attorney that specializes in the trust law of your

particular state.

The specific objective of this first module is to make

you familiar with the two primary differences in

trusts. The Fresh Start Trust is an irrevocable trust.

That is critical to asset protection. By the end of

this module you will understand the primary elements

of an irrevocable trust and the roles each one plays.

When it comes to

trusts, one size does

not fit all

You will need to

share what you learn with an attorney

specialized in setting up trusts

Fresh Start Trust

Lesson #1 - Starting at the Beginning Checklist

© 2011 Financial Success Institute. All rights reserved. www.financialsuccessinstitute.org

4

By the end of your first eclass, you will be prepared to begin

taking immediate action. Specifically, you’ll have the

following things in place…

 Knowledge of why you want to take all the equity in

your business out of your name.

 Each of the five important elements that go into a Fresh

Start Trust and the important role each of them has.

 Grantor

 Intention of the grantor (Trust document)

 Trustee

 Beneficiary

 Trust subject matter

 The big difference between revocable and irrevocable

trusts and why making the Fresh Start Trust irrevocable

makes all the difference from revocable trusts that offer

no protection from lawsuits.

 What the big lenders are doing behind the scenes that

could be disastrous for you if your business becomes

successful and you don't have asset protection in place.

 The knowledge and tools you need to become an

immediate action taker and be rewarded for being

proactive.

You will establish a business

owned not by you but by a Fresh

Start Trust

Fresh Start Trust

Lesson #1 - Starting at the Beginning Checklist

© 2011 Financial Success Institute. All rights reserved. www.financialsuccessinstitute.org

5

Major assets are always vulnerable to lawsuits. A great deal of

free information about asset protection planning can be found

on the internet. Most of it is simply wrong.

Exactly What a Trust Is

We hear the word Trust quite often in reference to protecting

assets and minimizing taxes, but what is a trust exactly and

how is it legally structured?

Keep in mind that we are speaking in general terms here

because of the many variations in trusts, state laws, and how

different courts view them.

General Description of a Trust There are four primary players or elements to a trust. They

are:

 The Grantor

 The Trustee

 The Beneficiary

 The Trust Subject Matter

The trust is a legal and separate

entity from all the others. Some people find it easier to

understand this concept by thinking of the trust as an

"artificial person".

Some will tell you that you need an

off- shore trust but

you don't

Although you will benefit

from the trust, you and it are

legally

separate

Fresh Start Trust

Lesson #1 - Starting at the Beginning Checklist

© 2011 Financial Success Institute. All rights reserved. www.financialsuccessinstitute.org

6

People set up trusts for a variety of reasons. The three main

reasons are to avoid an inheritance estate from having to go

through probate, to minimize taxes, and to protect assets.

The Fresh Start Trust eCourse primarily deals with asset

protection although it also touches on estate planning and

taxes where appropriate.

A trust is essentially a contract between the Grantor

(sometimes called a settlor) and beneficiary that is

administered by the trustee. The grantor initiates the trust by

drawing up the contract and placing specific assets inside the

trust. The contract is known as the "Trust Document" or "trust

agreement". It specifies the who, what, where, when, why,

and other conditions and terms for managing the assets.

As you can see, there is enormous variation between

individual trusts. This is definitely not a one-size-fits-all

concept.

The Trustee is an individual or law firm (many states allow it

to be any competent adult) that the grantor entrusts the

assets to. The trustee must follow the instructions established

in the trust document. Generally, the trustee is obligated to

manage the assets in the best interest of the beneficiaries.

State statutes may or may not address the duties of the

trustee. However, most of the law covering trustee's

requirements is found in state case law or court opinions.

You will not be the Grantor

that is key to asset

protection

Fresh Start Trust

Lesson #1 - Starting at the Beginning Checklist

© 2011 Fin