Ken Himmler.com

A self-settled trust is a trust where the grantor (i.e., the creator, settlor, or donor) is one of the beneficiaries, or the sole beneficiary, of the trust. A spendthrift trust is a trust that prevents trust beneficiaries from transferring their interests in the trust to other parties (e.g., creditors). Prior to April of 1997, a self-settled trust could not be a spendthrift trust under the laws in all 50 states, and U.S. citizens were forced to create such trusts in offshore or foreign jurisdictions.

In April of 1997, Alaska passed the first legislative act authorizing the use of self-settled spendthrift trusts (also called domestic asset protection trusts). In the same year, Delaware enacted similar legislation (hence this type of trust is often referred to as an Alaska/Delaware trust). A handful of states have since followed suit.

For more information on domestic Self-Settled Spendthrift Trusts and other trusts such as revocable living trusts, you can go to http://kenhimmler.com.

A credit shelter trust (also called a B trust, family trust, or bypass trust) is an irrevocable trust used by a married couple to minimize federal estate taxes on their combined estates.

For more information on credit shelter trusts and other trusts such as living trusts, you can go to http://kenhimmler.com.

Typically, a credit shelter trust is funded with assets sufficient to fully utilize the federal estate tax exemption (also called the applicable exclusion amount–$2 million in 2008) of the first spouse to die. The trust may be funded during the spouses’ lifetimes or at the death of the first spouse to die.

The surviving spouse can only be given restricted access to and control over the assets in the trust. If the surviving spouse is given unrestricted access to and control over the assets in the trust, the assets will be included in his or her estate when he or she dies, negating the purpose of the trust. The surviving spouse can receive:

• All annual income earned by the trust
• The annual, but non-cumulative right to withdraw the greater of $5,000 or 5% of the trust principal, for any reason
• The right to invade the trust principal if necessary for his or her health, education, support, and maintenance (referred to as the “ascertainable standards”)

The surviving spouse can also be given a power to appoint all or any of the assets in the trust to a limited class of beneficiaries excluding himself or herself, his or her creditors, his or her estate, or the creditors of his or her estate (this is called a “special” or “limited power of appointment”). The surviving spouse can appoint the assets in the trust to the specified beneficiaries in any proportion that he or she desires. This allows the surviving spouse to appoint the assets to the beneficiaries who need the assets the most.Caution: Bypass trusts can be funded using a formula or a disclaimer. If a disclaimer is used, the trust document should not include a special power of appointment provision.

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This is the same company which-a few months back-invented a car that costs only $2500 new.  BUT it’s not available in the USA .  Why is it that a gasless vehicle that eliminates the reason to buy oil from foreign countries hasn’t nipped the minds of US manufacturers? How bad can this be for anybody, anywhere in the world — except for foreign oil? 

The Compressed Air Car, developed by Motor Development International (MDI) Founder Guy Negre, might be the best thing to happen to the motor engine, and people all over the world.
The Air Car will be starting production soon, thanks to India ’s TATA Motors.

The $12,700 CityCAT, one of the planned Air Car models, reaches 68 mph, goes for a range of 125 miles. It will take only a few minutes for the CityCAT to refuel at gas stations equipped with custom air compressor units. MDI says it should cost only around $2 to fill the car up with 340 liters of air!