- 4 - Harlan met after attending a free seminar advertised in the newspaper.3 Floors Trust At the time Floors Trust was created, Edwards Vinyl changed its name to Floors by Harlan, and all assets associated with the business were transferred to Floors Trust. There was no change in the manner in which Harlan conducted the activities of the flooring business after the name change and asset transfer. Harlan was appointed “manager” of the trust’s business and had unrestricted access to the trust’s assets. As manager, Harlan continued to make the same day-to-day managerial decisions for Floors Trust as he had made for Edwards Vinyl when he managed it as a sole proprietorship. No trustee imposed any requirements or made any demands with respect to the manner in which the flooring business was operated. Harlan and Jody performed the floor installation activities for Floors Trust, and payment for the services rendered by Harlan, as proprietor of a floor installation business, was provided to the trust. Harlan and Jody maintained a checking account in the name of “Floors by Harlan ‘A Trust’”, into which they deposited gross receipts from the floor installation business and over which they had signatory 3 Mr. Fletcher was subsequently convicted of one count of conspiracy to defraud the United States and two counts of aiding and assisting in the preparation of false income tax returns, see United States v. Fletcher, 322 F.3d 508 (8th Cir. 2003), and was incarcerated at the time of trial.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011