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bank account, sign checks, transfer property, sign
the minutes and make management decisions concern-
ing the contract of trust. If you are not related
to the beneficiary(ies) you do not need ad-
versarial trustees.
THE GENERAL MANAGER
Although it is typically the Trustees or Managing
Trustee(s) that will be responsible for the management
of the Trust, a General Manager may also be appointed
for that purpose. The General Manager is merely an
employee of the Pure Trust and is not an integral part
of it. However, some individuals choose this position
because they want to manage the Trust with privacy.
When transferring title to real property and automo-
biles, it is necessary in include the name(s) of the
Trustee(s) in addition to the name of the Pure Trust,
as a matter of public record. The General Manager’s
name, however, would not appear on title. It would
only be included within the trust minutes, which are
totally private.
THE BENEFICIARY/CAPITAL UNIT HOLDERS
Beneficiaries/Capital Unit Holders have the right
to the “beneficial interest” which is a right to the
income, profits, and proceeds and use of the Pure Trust
Organization. However, in order to provide maximum
asset protection, the trust must be “Pure.” That means
that “Beneficiaries/ Capital Unit Holders” CANNOT have
any management control of the Pure Trust Organization.
The Trustee assigns the “Exchanger” (Settlor) 100
capital units, which represent 100% of the beneficial
interest of the Pure Trust, in exchange for the prop-
erty he or she conveys into the trust. The Exchanger
can then either keep all 100 Certificates or divide
them in any manner among Beneficiaries of his or her
choice.
BANK ACCOUNTS
Sovereignty Pure Trusts can also open a completely
private bank account with no Federal ID Number or
Social Security number at a major bank. This account
will be like any other checking account, except that it
is completely private. The cost for this is $125 per
account. [Reproduced literally.]
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