Q. What is a Trustee?
A. A Trustee provides you with US citizenship to meet FAA and USCG requirements. Of course there are other circumstances in other business enterprises where a US Trustee works on your behalf as an integral part of your company.
In order to bring about Trustee status you must form a Statutory Trust.
Q. What is a Statutory Trust?
A. Trust is quite simply an agreement between one person (the settlor) who gives to another person (the Trustee) an asset, in this case an aircraft or yacht, to hold on certain terms. In the case of an Owner Trust the aircraft or yacht is typically held solely for one beneficiary which is the settlor. The reason that a Trust is required by the FAA and USCG is that in this way they can ultimately control the aircraft or yacht through their US Citizens who are the registered trustees of US registered aircraft or yacht.
Q. When establishing the trust, how am I protected?
A. We take the following steps to minimize your risk and maximize your security:
1. At AMG we specialize in registering US aircraft with the FAA for foreign owners and take your interest to heart.
2. All aircraft and yachts, under our administration are registered to individual owner trustee corporations. This is important because the Trust agreement which the beneficial owner of the aircraft or yacht will have to sign will include indemnities in the event that the trustee is sued. Where an individual or a Trust company which registers itself directly as the owner of the aircraft or yacht is sued then they will claim against you under its indemnity. Where the Trustee is a separate trustee corporation for your use only, then you get the added protection of being able to rely on its limited liability for your protection.
3. By utilizing our professional and knowledgeable services you can be assured and feel confident that your aircraft or yacht will be properly owned by a US Corporation registered in Delaware and provide you with all proper documentation included in the trust agreement. As long as your follow the rules and provide us with the due diligence we require, you will have the ability to fly the aircraft or sail the yacht legally outside of the US.
4. We ensure that you have not just the trust and registration documentation but also all ancillary documents required to legally operate the aircraft or yacht internationally.
5. All State and Federal government documentation will be sent promptly.
Q. Why select Asset Managing Group, Inc. to act as my trustee and register my aircraft?
A. SEE THE FOLLOWING
- AMG provides professional and confidential services to protect our clients as permitted by law. All information is classified and will only be released with our client’s permission or by court order.
- We offer personal and considerate services.
- There are no hidden costs or fees.
- We work with clients worldwide providing them with legal and useful information on owning, operating and registering their aircraft or yacht.
Q. How do we begin the process?
You must provide us with the following documentation:
- Proof of Insurance naming us and holding us harmless for any debt or injury pertaining to the aircraft or yacht
- Notarized copy of Passport and Drivers License for all directors and officers of the Delaware entity
- Letter of Recommendation notarized by a licensed attorney or accountant that can attest and state that they know you and believe you to be a reputable person.
- Proof that the aircraft or yacht is free of debt or if mortgaged a letter from the bank indicating our involvement with the aircraft or yacht.
- Notarized Bill of Sale from present owner to new Delaware corporation
- If yacht:
- Builders Certificate, if never registered or USCG documented
- Copy of USCG Document if documented
- Original title if state registered
1. Review this website for the services you require.
2. Send your payment. We will accept wire transfers.
3. Call us at (561) 459.3460 ot email us at firstname.lastname@example.org for wire instructions.
3. If you are a non US citizen email us a copy of your current passport and drivers license.