Banking, Bookkeeping & Business

Doing Business as a Trust

Whether for privacy, asset protection or estate planning, trusts can be used to operate your every-day business, from bank accounts to rental agreements and NO PERSONAL GUARANTOR.

If you create an LLC or Corporation and open a checking account, most banks require you to sign as a personal guarantor of the account. They may require you disclose the officers, members or other responsible parties.

If you create a trust and open an account, the trustee (which does not have to be you) will sign documents on behalf of the trust but is (by law) not liable for the activities of the trust. The trustee will be the signatory on the bank account. The trustee can be instructed to obtain a debt card for the beneficiary’s use.

You just opened an account without using your name or credit.

The same can be done with a property lease and other business transactions. In fact, almost all business can be conducted inside a trust. Since a trust may have its own IEN (Tax ID) the trust may develop credit over time.

I have created trusts which have mortgages and loans in the name of the trust and I have NEVER had to “co-sign” or guarantee any of these funds.

For more information, please visit our website.
www.AssetInvestmentTrust.com

Greg Gardner - Director
Asset Investment Trust
112 S. Main St,
Clover, SC 29710
877-567-2513 (Ext 101)