More legal info – SimplePassiveCashflow.com/legal
There’s some scams out there for like, you know, like when the money goes overseas that it goes to a not a trustworthy third party, what are some ways we can protect against?
So the answer is, is that when you transfer your money, it’s only ever going to go to a real bank. Like we’re talking about Swiss private bank that is completely unrelated to the trustee in the Cook Islands, you’re going to have a relationship with the banker. I mean, you’re with the banks are roughly the Euro, the Ubl, which in banking terms mean, underlying beneficial owner, the bank is going to do their due diligence on you personally, and that money will never leave the bank without your approval, because the bank knows that you’re the overview video. And even if you’re not the legal title holder, or even the signer on the account, which you wouldn’t be in the case of those offshore Trust Company in control of it. The bank is never going to let that money out of their site without your explicit approval. So you know it unless you’re crazy enough to send your money down to somebody Via instruction that you don’t really know who they are in our model, you’re never going to lose sight of your mind. I made sure that not me, not the trustee offshore, not at buddy, do I really, really trust, the only person I really trust with your money is you, I’m going to make sure you were always the one with your eyes on your own money. So when these are drafted properly, there’s internal checks and balances that are created within the trust itself. And so like Doug was saying, it involves a trustee, and then a trust protector, looking over the trustee, and then you the client looking over the trust protector. And then at the end of the day, the bank that you choose, and they have built in delays, and you know, like client consent requirements before they can even transfer anything whatsoever. And so the effect of this is that virtually it’s going to be impossible to make any kind of move without you knowing about it. Not even knowing about it, approving it in the case of your money leaving the bank. If you’re going to leave the bank, you are going to have to prove it. You’re going to get a phone call. It’s going to be somebody you know, who knows you they’re going to want signatures from you. Even though You’re not interested. So, I mean, there’s just no way I would send my money without knowing that I have that control or I would advise a client send their money without knowing they have that control.