Settlor Puns

there seems to be SO much completely conflicting info online, and even amongst several estate planning/asset protection attorneys I speak to, about whether or not being one's own trustee, as well as the settlor, but not the beneficiary, provides any asset protection.

Right now I'm in the process of creating an irrevocable trust such that my wife and I are the settlors, we are also the trustees, and our young minor son is the beneficiary. While I know there are obviously outliers and exceptions to any rule, I am under the impression of that assuming we don't mismanage and co-mingle any funds/assets of the trust with our own money/assets, the assets within the trust are essentially off limits to any potential creditors (creditors of me and/or my wife), since we are not the beneficiary.

Other things I read as well as attorneys I've spoken to, seem to think that is BS, and just the fact that we are trustees, and therefore have control and/or discretion of the assets in the trust, means that if I was being sued, a judge could quite easily just force my hand to liquidate the assets or transfer them over to my creditor. OR could just say that the trust is clearly my alter-ego, just by the fact that I am both the settlor and the trustee (disregarding the question of if I am mismanaging and/or co-mingling funds), simply by how I have ANY discretion over the assets themselves. While these attorneys/websites make sense, I don't know if it is a coincidence that they are also usually trying to sell me on expensive out-of-state Domestic Asset Protection Trusts or even more expensive offshore trusts in the Cook Islands. That being said, maybe they truly do know more about asset protection than your average estate planning attorney does though, who seems to think what I am doing is fine.

I'm also in NY.

Any feedback greatly appreciated!!!

Very sorry for the double-post today. I thought of this question after my last post (about selling these shares) and 2.5 hours of research has yielded no clear answers, so I'm hoping some guru will take pity on me.

The situation: I bought about £2000 worth of shares in an unlisted company when it was founded. To simplify admin, the company asked all small investors to let a nominee hold their shares in trust for them, and I agreed. The trust seems to be a bare trust because: I can assume legal ownership of the shares whenever I want, and any dividends (there have been none yet) will be paid directly to me. Neither the company nor the trustees are in the UK, they are in another EU country.

Now, I've always assumed that as the beneficiary of a bare trust, for UK tax purposes, this situation is effectively the same as if I'd owned the shares myself. Ie I would report any income and capital gains/losses as my own, as if the trust did not exist.

However, I have seen that separate special provisions/obligations apply to settlors of a trust in which they retain a beneficial interest. Since I originally bought these shares, I assume I am the settlor. What I'm trying to find out is whether any of these provisions apply to me? For example, if I receive dividend income from this company, would I have to full out the SA107 Trusts, Etc pages of the Self-Assessment, as a settlor ? Is there any other paperwork I have to complete?

I assume the answer is 'no', because I would already be reporting the income as the beneficiary of the bare trust - it seems like these rules are aimed at trying to stop settlors avoiding tax by transferring the burden to a trust/beneficiary even though they'll eventually get the benefit somehow. That makes no sense here, but I can't find a specific exception for settlor-interest bare trusts, so I'm wondering where that leaves me?

tl;dr: I bought some shares that are held by a third-party company on my behalf. I assume this creates a bare trust where I am the settlor and the beneficiary. Do I have to do a bunch of extra paperwork or can I do the usual bare trust thing of pretend the trust doesn't exist and I own the assets?

Has anyone come across a random event in Cranberry Bog (could appear in other locations, only seen it in this place though) where a group of Settlors are tied to a fridge and an explosion goes off next to them?

I usually noticed it because I hear the explosion. I go over and the Settlors are still alive, but when I interact with them, they all die and the Blood Eagles hiding nearby come out to attack me.

I assume this is bugged in some way what with the Settlors being alive after the explosion and then all dying at the same time?

Background: Recently passed bar (OK) and looking into estate planning. Working in a small town of mostly farmer/ranchers. The majority of the clients asking for estate planning work have been married for 40+ years, adult children, and assets are nearly all joint and well below the exemption.

Question: Nearly all of the forms I am looking at for joint trusts are still utilizing the AB Trust method upon the death of the first settlor to die. These forms are from 2018-2019. Can someone explain why this is still the right method? I realize this is the way to go if you want to make a portion of it irrevocable upon the first death, but, for the family situations I describe above, I think it makes more sense for the surviving settlor to just retain the trust estate upon the death of first settlor. With portability and the step-up in basis I just don't see why you would still use the AB Trust in these type of situations.

Appreciate any advice/guidance

I'm very confused by this part of a problem question I have.

The settlor (S) wrote in his will that his shares should go to a trustee (T) and that they have been informed what to do with them.

Essentially they are to hold them for the beneficiary (B) and pay the dividends to B.

The main problem is that S died suddenly before transferring the shares to T.

What happens in this scenario?

Hi,

I am thinking of making a family trust and went through the cleardocs template. It looks like it should be enough for my needs but I need a settlor to settle the money into trust and it shouldn't be any beneficiary.

Is there some place I can go to where somebody could be the settlor for my trust?

I know generally the lawyer at the law firm you hire does it, but I don't feel like I need any more consultation than just somebody being the settlor.

TIL:

"settlor" (with an "o") is a term used in trust law.

• https://en.wikipedia.org/wiki/Settlor
• https://www.google.com/search?q=define:settlor
• https://www.merriam-webster.com/dictionary/settlor

At my workplace, some people put comments like "XYZ is not a settlor anymore" on client files. I told them that a settlor cannot be removed like a Trustee or Beneficiary, but rather that a settlor remains a settlor irrespective of what happens during the lifetime of the trust.

Could someone shed some light on whether my view is correct, or not?

Does anyone have their trust setup to avoid having to transfer assets to a new trust upon the settlors death? I am thinking it would be ideal to have the trust remain private when these changes occur if possible.

I'd appreciate people sharing verbiage from their trust if they do have this provision included in their trust.

Note: Please refrain from recommending I speak to a lawyer for advise. I'm looking for thoughts from people that have this provision included in an existing trust.

My dad has several NFA items. Would I have to create a new trust and pay $200 transfer Tax per item once he dies? I am on his trust as a Successor Trustee.

I'm filing out the form for the 199Trust and it asks for a successor trustee. Will this trustee need to submit anything when I file for a Form 1 suppressor?

Are you married, male? Is your wife a settlor? Did you form this with a bunch of other people? Are your trustees listed as beneficiaries? Did you list blood relatives as beneficiaries? Who is listed as trustee to step in and decide if beneficiaries should not have the items?

Sorry, feel free to make is as vague as you want. Just wondering if there are others in the same boat as me. I am early middle aged, married, with a child on the way. Family is out of state. Want to make sure my children get the NFA items, but they are in safe hands until then. Thanks in advance for any answers.

I'm setting up a trust (online National Gun Trust) for NFA items I'd like to purchase or convert to SBR. Primarily silencers, but I want to Form 1 a few receivers.

Question: Should I add all existing firearms to the trust? Or only receivers that I might want to SBR?

Reading the document, it seems like a handy vehicle to share ownership and ensure things are passed on when I'm gone. What is the downside to putting all items in there?

Do your worst!

For context I'm a Refuse Driver (Garbage man) & today I was on food waste. After I'd tipped I was checking the wagon for any defects when I spotted a lone pea balanced on the lifts.

I said "hey look, an escaPEA"

No one near me but it didn't half make me laugh for a good hour or so!

Edit: I can't believe how much this has blown up. Thank you everyone I've had a blast reading through the replies 😂

Recently, I've seen a spate of GMs posing questions such as "what do I do if my PCs keep purposefully abandoning plots I lay out for them just to fuck with me" or "one of my players has crafted some unholy monstrosity of a character that is a poor moral or mechanical fit for the party."

These types of statements usually end with the same question: "what should I do?" Hopefully, this post will help you assert boundaries as a GM and run a table where you have just as much fun as your players.

What Even Is a GM, Anyways?

There's a strange all-too-common misconception that GMs exist to provide players with a game. That they are to act as the arbiter of rules, the settlor of social disputes, the tyrant of game schedules, and perhaps most importantly, a sort of omnipotent vessel the players use to have fun.

Bullshit.

As a GM, you are every bit as much a player of TTRPGs as your players themselves are. Yes, the role is different, as are the responsibilities. But at the end of the day, you - just like your players - are here to spend time with friends doing something fun. Running your games should be every bit as enjoyable and fun for you as it is for your players.

Yeah, you may prep. Yes, you have the final say when it comes to rules. But you are still playing the game with the players, not for them. You need to establish a collaborative relationship with the players wherein everybody is concerned with everyone else's fun as much as their own, and your players genuinely respect you, your efforts, and your time. To do that, you need to establish boundaries.

Setting Boundaries: Contextualizing the Role of Players

There's a wonderful little PBTA-style sci-fi game called Uncharted Worlds by Sean Gomes that I love for a lot of reasons (if you like sci-fi check it out, it is wonderful), one of which is its section on player principles. They're applicable to just about any system, and I highly suggest introducing them to the table as part of your session 0. They read as follows:

>Act with conviction: *When a character wants to do something, simply make the attempt. Asking the GM, "Can I do X?" is not a fair question. The GM doesn't know what your character can do. At best, the GM will flat out say no because it's not physically possible, but that's just logic. Otherwise, it is up to the player to determine what their charac

It really does, I swear!

Hey all. So i have POA over my mother and recently she has inherited money from her father who passed earlier this year. I guess im wondering what some others would do/suggest in this situation. Mom is handicapped and in a private room at a full care facility. She is ?67? Years old. She will be getting a brand new power chair so that is not a lingering expense in the near future. She inherited ~150k. (Well more but i have plans to max her TFSA and try and get dividend positive cash flow which ill try filtering into her chequing account monthly or so) Her expenses are slightly more than her pension, oas,cpp ect..

On my father’s will, it states that everything should be divided equally between my sister and I. She is ten years older than me, so when my father became sick ten years ago he gave her power of attorney. She has never had a job and has been living under his roof her whole life. She is also a drug addict.

The power of attorney states that, “My agent MAY NOT do any of the following specific acts for me UNLESS I have INITIALED the specific authority listed below:”

He signed everything underneath, which included

• “Create, amend, revoke, or terminate an inter vivos, family, living, irrevocable, or revocable trust”

• “Create or change a beneficiary designation”

Half of me wants to believe that she didn’t change anything on the trust but the other half of me believes she did. We aren’t on good terms, especially after she stole my college fund from me. Can she actually remove me from the will?

They’re on standbi

Pilot on me!!

Dad jokes are supposed to be jokes you can tell a kid and they will understand it and find it funny.

This sub is mostly just NSFW puns now.

If it needs a NSFW tag it's not a dad joke. There should just be a NSFW puns subreddit for that.

Edit* I'm not replying any longer and turning off notifications but to all those that say "no one cares", there sure are a lot of you arguing about it. Maybe I'm wrong but you people don't need to be rude about it. If you really don't care, don't comment.

When I got home, they were still there.

I won't be doing that today!

You take away their little brooms

This morning, my 4 year old daughter.

Daughter: I'm hungry

Me: nerves building, smile widening

Me: Hi hungry, I'm dad.

She had no idea what was going on but I finally did it.

Thank you all for listening.

There hasn't been a post all year!

What did 0 say to 8 ?

" Nice Belt "

So What did 3 say to 8 ?

" Hey, you two stop making out "