Private Trust Vs. Regular Trust

Why It Matters

Understanding the legal distinction prevents costly tax‑evasion schemes and protects assets from criminal liability.

Key Takeaways

• Most attorney‑drafted living trusts are private, not public entities.
• “Public trust” claim is a tax‑protester myth lacking legal basis.
• Unlicensed advisors often promote illegal off‑grid trust schemes.
• Courts consistently reject trusts that ignore established tax law.
• Seek qualified tax or estate attorney for legitimate trust planning.

Summary

The video tackles confusion surrounding private trusts versus the alleged “public trust,” asserting that standard living trusts prepared by attorneys are private instruments, not the public entities some claim.

The presenter labels the “public trust” concept as a tax‑protester myth designed to evade taxes and operate outside the legal framework. He warns that relying on unlicensed individuals or online services to create such trusts is illegal and unsupported by courts.

He cites examples of self‑styled experts offering free e‑books and “off‑grid” advice, emphasizing that judges have repeatedly rejected these structures. The speaker stresses that only a qualified tax or estate attorney can provide a trust that complies with statutory requirements.

The implication is clear: individuals seeking estate planning must avoid dubious tax‑avoidance trusts and instead use properly drafted, attorney‑prepared instruments to ensure enforceability and avoid criminal exposure.

Original Description

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ABOUT JASMINE DILUCCI, JD, CPA, EA

Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS.

Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution

How Jasmine Got Here…

18: Became an Enrolled Agent, licensed to represent taxpayers before the IRS.

22: Earned an Accounting Degree and a Master’s in Finance.

23: Became a CPA

24: Stepped into leadership as she took over her own CPA firm

26-28: Juggled full-time studies at SMU Law while she was growing her CPA firm.

28: Graduated from law school 4th in her class and became an Attorney, all while managing her CPA firm.

29-31: Expanded her CPA firm to seven figures, with a focus on delivering top-notch service and exceptional value to every client.

32: Launched Tax Leverage to offer free online education and combat the rise of “tax gurus,” aiming to provide real, accessible tax knowledge.

Today: She’s dedicated to running her firm and leveraging her expertise to educate and empower others, helping individuals and businesses navigate the complexities of taxes and finance.

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Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice.

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