I’ve come across some research from another individual that suggests the corporation sole for families and what they call a religious trust. Is this similar to the Natural Law Trust, or is it a more complicated way of “owning nothing, control everything”?
Our BIC trust writer, whom you may have seen in our trust webinars, also writes corporations sole. However, we do not recommend them for most people, because they are statutory. We have heard horrendous stories of people who had them shut down and their assets confiscated because they were using them as tax shelters. Those were NOT our clients; they were simply people about whom we have heard.
The only way a corporation sole works successfully is if the creator of it is actually running a real religious or spiritual organization, with real meetings, a real brick and mortar building, real community participation, community service, and so on – – all the things you would see in an active church, mosque, temple, or synagogue.
Even then a Natural Law Trust can own that kind of organization and protect it just as well as a corporation sole can . . . and an NLT cannot be shut down, because it isn’t statutory and isn’t issued by any governmental authority. We have a 100% success rate with the NLT going back many decades, in that not a single one of them has ever been invalidated or penetrated – – and in fact cannot be invalidated.