Secured Party Creditor Process with UCL (Understand Contract Law and You Win)

There are 6 steps in the process. A high-level discussion about the SPC trust is here, but that does not give you an overview of the steps you will be taking. Whether or not to give notice to your beneficiaries is yet another thing to consider later, but now now.

This guide gives an overview of how to fill out the documents.

Preliminaries

Red ink pad

You will need one. And wherever you see red circles on their documents, you need to print your thumb there as discussed here.

2 people besides notaries

In order to do this process, occassionally two witnesses besides the notary will need to affirm that you signed a certain document.

How to sign your name

Certified Mail Slips

Go get 10 of them. Here is a picture of the receipt and slip.

1: The trust is formed by Having meetings with the second trustee and filling out certain papers

by phone/skype/etc. Here is a sample of how the trust meeting should go down.

Sign and keep all of the following (Terrence Brannon sign and keep)

(doc) Minutes of the INITIAL Trustee Meeting

Now the script for the 1st trustee meeting has a part you may not know how to fill out. Make sure you know how to fill out these blanks (labeled with letters):

On the “Sample of 1st Trust Meeting Script: ” we read:

Next order of business, we have a proposal for the Trust, from Exchanger, to which is attached as an Addendum to
this Meeting. ______(A)_ has offered to pledge this Security
Agreement ______ (B)__________
and this ____(C)___ into
the trust. Do we have and are all members of the board reviewing the
bill of sale? Do you have a copy of the security agreement and have
you read and reviewed all that? OK good. OK…I move for the board to
approve of it. Second trustee…seconds motion by saying “I second that
motion” OK it is carried and RESOLVED. Let the record show the
TERRENCE MONROE BRANNON TRUST has approved the security agreement “5111969­TMB­SA” of and authorize the issuing of ______ (D) ______ Certificates to the Exchanger ­ _____ (E) ______. Can the secretary please document this in the
Schedule A of the Trust, and let’s make sure that within
30 days, one of the trustees send the certificate with a the cover
page notice here to the beneficiaries.

Now let’s say what the letters should be:

  • A – 1st Trustee
  • B – security agreement doc
  • C initial property
  • D number of certs and/or names of beneficiaries
  • E – usually the 1st Trustee unless there is a different exchanger

(doc) Abstract of Trust and Certification of Trustee

(doc) Declaration of Trust – 2 witnesses must affirm your signature

(doc) Schedule A

(doc) Minutes of Trustee Meeting

(doc) Bill of Sale

(doc) REGISTRY OF TRUST CERTIFICATES & ADDENDUM TO MINUTES OF INITIAL MEETING

(doc) EXECUTED AND ACCEPTED AS TRUSTEE – 2 people must witness signature

(doc) EXECUTED AND ACCEPTED AS SECOND TRUSTEE 

(doc) HOLD HARMLESS AND INDEMNITY AGREEMENT FOR SECOND TRUSTEE

(doc) MINUTES OF THE TRUSTEE MEETING (3rd meeting?)

(doc) SECURITY AGREEMENT

1: Print the Bond on Resume Paper

Here are the instructions for this document.

1: Notarize and Return

(doc) Hold Harmless and Indemnity Agreement

(doc) Common Law Copyright Notice

(doc) IRS Form 56: Notice Concerning Fiduciary Relationship

Two copies to the 2 fiduciaries.

(doc) IRS Form W-8 BEN

(doc) W-8 BEN Affidavit

1: Legal Notice and Demand

1: Second Trustee accepts appointment

Via this form.

1: (doc) Continuation from Collateral Description

1: (doc) Legal Notice and Demand – 2 witnesses + notary needed

1: (doc) Executed and Accepted as 2nd Trustee: 2 witnesses needed

1: (doc) Birth Certificate

Write over the birth certificate using Accept-for-Value style, like so.

1: Get your EIN

Don’t get your EIN until you have formed your trust and completed all these steps. This document shows how/when to do is.

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Author: wizard