Intelligent Banker Podcast Launch and Trust Application Guidance

Introduction by Josh Nelson

• CEO of Infinite Wealth Strategist
• Launching Intelligent Banker Podcast
• Personal story of financial success and failure:
  • Successful in network marketing, but financially illiterate.
  • Lessons learned from being 'broke at a high level'.
• Establishment of Infinite Wealth Strategist and focus on financial education.

Issues with Financial System

• The financial system is described as rigged against average individuals.
• Importance of understanding financial education, which is not taught in schools.
• The aim of the podcast is to educate on financial strategies:
  • Lawsuit proof, judgment proof.
  • Avoiding capital gains legally.
• Emphasis on creating a family economy and family bank.

Trust Application Process Overview

• Discussion between Josh Nelson and Craig (Senior Trust Strategist).
• Key Roles in a Trust:
  • Settler: Sets up the trust, but must have no further role.
  • Trust Guardian: Holds ultimate control over the trust.
  • Trustee: Manages the trust.
  • Beneficiaries: Those who benefit from the trust.

Important Aspects of Filling Trust Application

• Trust Name: Should be unique and not tied to personal or business identity.
• Trust Address: Should be a physical address, not a P.O. Box.
• Trust Roles: Settler, trustee, trust guardian, and beneficiaries need careful selection.
• Business Trusts: Handling of assets and income for business trusts.
• Payment Options: Wire transfer preferred for ease and speed.

Financial and Legal Benefits of a Trust

• Asset Protection: Trust protects assets from lawsuits and creditors.
• Tax Benefits: Deferral of passive income, no probate, and inheritance taxes.
• Generational Wealth: Trusts can manage wealth across generations without tax burdens.

Process of Trust Activation

• Steps to activate a trust include setting up at a bank, having documents notarized, and opening a trust bank account.
• Education and Support: Importance of watching educational videos provided and utilizing accounting advice.

Trust Management and Utilization

• Contractual vs. Legislative Law: Trusts based on contract law offer unique protections not subject to legislative changes.
• Asset Transfer into Trust: Importance of promptly selling assets into the trust to benefit from asset protection and tax advantages.
• Promissory Note: Mechanism to access funds from the trust without taxable distributions.

Conclusion

• Overall emphasis on education in financial strategies and trust management to safeguard and grow family wealth.
• Encouragement to engage with available resources and podcasts to enhance financial literacy and security.