And another thought, if I decided to pursue "enjoying a living", why would I register this endeavor with a bunch of bankrupt bottom feeders? Just because I would be using their shitty money?

Yes, it IS deafeningly quiet here tonight.

The corporation is public and the trust is private

What corporation does not act in commerce? Beverly Girl-Brain Braaksma That is the whole purpose. Why cannot a holding corp or a corp that is trust property do business? It follows its bylaws... Canada's are ACTs and Statutes.. The corp is the Trusts Agent in commerce.

Proxy

A Trust is a legal entity that is structured in a way that it can legally take advantage of passthrough accounting. The proceeds pass through to its Beneficiaries. A Trust is the business of increasing assets. This is how the gov't doesn't pay taxes?

Beverly, in Canada do you have an option for a corporation that has "pass through" taxation? Here in the States, when a corp is registered, it defaults to a C-Corp (which gets taxed then distributes the profits to the shareholders who are taxed) or we can elect to be an S-corp (the profit is distributed to the shareholders then it is taxed). Its seems that S-corp status would be the way to go for us as any tax that is levied could be discharged through the Person in Trust. What do you think? Does this even exist in Canada?

I really don't know. :/

s corp is limited liability, which equates to limited surety.

Oh. That's the difference? Yes we have that of course.

I'm in Canada. You aren't. Think about that.

all corps are limited liability!

no

yes.

not a proprietorship, but I guess that would be just registering a name

EVERY corporation has limited liability. There are no exceptions.

A sole proprietorship is NOT a corporation. It's a REGISTRATION.

yah

So... EVERY corporation has limited liability. There are no exceptions. EVERYBODY GET THAT?

So a corporation that holds assets would not do any commerce?

Depends on its charter.

I guess being a holder of assets you would not want it to.

Then the Trust it holds operates in commerce to pass through to the Beneficiaries, correct?

what type of corporation is the correct one and can you change your corporation from S to C

Treat it like your bank. think of it as the "body" that holds assets IN TRUST... Like the guy that holds your weed. :D

I have a few Guatamalans (mules) that take care of my weeds. But I am sure not letting them hold my assets. :-\

Scott, once the lien is perfected, will it be necessary to create a documentary draft?