See the Video Recording here:
https://zoom.us/rec/play/0MiQr39O1YNmhQ8Xj4klV2k0AHdDRBuhgQFq6c3D86AR7wcgUPQ3WgOHFC2tY_W_RCMvXRSJ6Ky7np3s.DXOp4z6HLFzCo2RT?autoplay=true&startTime=1724774829000

Access the Live Transcript here:
https://otter.ai/u/BNR6g437dk6V6bTzHccXr7fIUu8?view=summary

Outline:
- Dr. Gina Gaudio-Grace's Personal Meeting Room Introduction (0:55)
- Introduction to Wyoming Private Family Trust Company (6:41)
- Substantial Ownership Test and Adversarial Relationship Test (11:03)
- PTC Structure and Documentation (18:21)
- PTC Operating Agreement and Committees (25:41)
- PTC Documentation and Tax Considerations (1:42:33)
- Q&A Session and Clarifications (1:47:45)

Training #2: Wyoming Private Family Trust Company as Your Trustee; PTC Documents Walk Thru and Structure

Effective October 1, 2023, Abundance Group Trust requires every new Personal Trust to use a Working Private Family Trust Company (PTC) as it's Trustee. This is crucial to prevent the IRS from declaring you (and your spouse) as the “substantial owner” of your Trust under Internal Revenue Code sections 671 through 678.

If that were to happen, the income in your Personal Trust would go right back to your 1040 return, causing you to have none of the tax mitigation that you were looking for. In addition, all assets would go right back into your Estate, subject to Estate and Private Taxes.

The IRS issued a Notice in 2008 talking very favorably about the use of PTCs as the Trustee in a Non-Grantor Trust. We have obtained an Opinion Letter from an Estate Planning/Tax Attorney on the efficacy of this structure.

A Wyoming PTC consists of the following documents:

• PTC and NCSPT Engagement Letter - engages the services of Cloud Peak Law Group PC to form the NCSPT and the PTC LLC
• Non-Charitable, Specific Purpose Trust (NCSPT) and Certification of Trust for the NCSPT - acts as the Member in the PTC LLC; you (or you and your spouse) are the Grantor (s) and the Trustee(s) of this statutory trust
• PTC LLC Operating Agreement - controls the Manager Managed LLC; creates an Investment Committee (IC), a Discretionary Distribution Committee (DDC), and an Amendment Committee which each have one member who acts as the Advisor
• PTC Organizational Consent - approves the Articles of Organization filed with the Secretary of State; accepts the resignation of Cloud Peak Law Group PC as the Organizer of the PTC; adopts the Operating Agreement; sets the address of the PTC LLC; appointments the initial Manager of the PTC
• Investment Committee Acceptance of Appointment - signed my the Investment Advisor
• Discretionary Distribution Committee Acceptance of Appointment - signed my the Discretionary Distribution Advisor
• Administration Agreement - naming Cloud Peak Administrative and Employee Services, LLC to provide administrative services including keeping PTC records, filing annual reports with the state, preparing annual meeting minutes, etc. 
• Discretionary Distribution Committee (DDC) Meeting Minutes - signed by the Manager of the PTC, these Meeting Minutes document the appointment of the DDC Advisor and details of how the DDC is to be operated

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