> I suggest you re-read the snippet you provided. A trustee holds
> property 'in trust' for some designated person or cause. It does not
> belong to him. This is why, for instance, if you arrange your affairs
> properly you can be bankrupt while benefitting from payments and/or
> the use of property held by a trust, and the property can't be seized
> by your creditors. Trusts must be legally authorised (the Common Law
> Trust people notwithstanding) by the law of the juristiction they are
> based, and as such are legal entities. You can sue a trust, you can
> get a salary from a trust, in some cases trusts must pay tax.
You can be bankrupt while benefiting from a trust because the beneficiaries
DO NOT own the trust assets the trustee(s) do. Trusts need not be
'authorised' in all jurisdictions any more than employment contracts -- in
some jurisdictions they do and in others (for example the Bahamas and
Barbados) they do not. Furthermore contracts can be registered but they are
not legal entities -- they are agreements between legal persons.
David Hillary
---
You are currently subscribed to e-gold-list as: [email protected]
To unsubscribe send a blank email to [EMAIL PROTECTED]
Did you know that e-gold Ltd. stores more gold on behalf of customers
than many countries? See http://www.gold.org/Gra/Gra1.htm and the
e-gold Examiner at http://www.e-gold.com/examiner.html for details.
