Religious Trust
The non-profit, tax immune, Religious Trust to the rescue!
It is completely legal for you to assign your interest and the potential proceeds of any investment program you may have, and transfer that ownership to a Religious Trust, either for consideration or as a donation. http://en.wikipedia.org/wiki/Assignment_%28law%29
- The Religious Trust is tax immune – IRS Code Section 508(c)(1)(A). http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000508—-000-.html
- The Religious Trust files no tax return – IRS Code Section 6033(a)(3)(i & iii). http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00006033—-000-.html
- There are none of the “problems” with these Religious Trusts that are so common with Common Law, Contract Trusts. http://www.elder-law.com/2000/Issue807.html
- This Religious Trust is not a Grantor Trust. Grantor Trusts are created by the Grantor, for their own benefit. You might be a donor, but not the grantor. http://law.yourdictionary.com/grantor-trust