It’s not what you own, it’s what you control. This is the secret how the wealthy maintain wealth even under the most adversarial of circumstances. ProAdvocate Group can establish a Texas Joint Stock Company/ Revocable Living Trust Combination, which is the ultimate judgment protection and asset security plan for your family and business assets. Is a Texas Joint-Stock Company/ Revocable Living Trust Combination the best in Asset Protection? Be a Smart consumer and you decide.
The legal obstacle that prevents most persons from legally achieving asset protection or judgment proofing is the Uniform Fraudulent Transfer Act or its equivalent, that being a State Statute or Code found in the law books of every state in the U.S.
The Uniform Fraudulent Transfer Act basically provides that, as a general rule, a creditor can file an action in court and ask a judge to set aside or void a transfer of assets to a third-party legal entity if the sole purpose of that transfer can be proven to be the intent to defraud the creditor. One exception to this general rule is when a transfer to a third-party legal entity is made by private contract.
The U.S. Constitution and the State Constitutions have provisions that basically say, “no state (or state legislature) can pass any law impairing the obligation of a (private) contract.” Since the Constitution is a higher legal authority or rule of law, and it was adopted before any state passed its Fraudulent Transfer Act, the Constitution preempts and overrules any Fraudulent Transfer Act applicable to private contracts. There is only one (1) legally recognized, separate, third-party, legal entity in the world that is formed by private contract.
That is the Texas Joint-Stock Company, which requires a transfer of property for stock in order to be deemed a private contract. In comparison, a corporation, LLC, LLP or FLP—neither of which is formed by private contract—is each in and of itself a privilege offered by the State. Subsequently, a corporation, LLC, LLP or FLP (or even a trust) cannot legally avoid the application of the Fraudulent Transfer Act when any of these vehicles are used for asset protection. However, there are several court decisions upholding and verifying the legal fact that the Texas Joint-Stock Company is formed by private contract and as such, no State Statute can interfere or impair a legal private contract involved with setting up a Texas Joint-Stock Company into which you can transfer your valuable property to achieve asset protection. Do you still think that a Texas Joint Stock Company is a Scam? Read on….
It is imperative to understand the other reasons why corporations, LLC’s, etc. do not legally offer any asset protection. First, corporations, LLC’s, etc. are statutory entities and are regulated by statute. One principle of statutory law is that “when the statute states something, it is to the exclusion of all else.” Corporate Statutory Law gives a corporation, LLC, etc. limited liability of shareholders. The fact that the statute states that a shareholder has limited liability concerning the debts and judgments against the corporation, LLC, etc. means that any other liability protections are automatically excluded and not available. It is these other types of liability protection situations that most people are looking for concerning their family and business assets, not just limited liability for shareholders.
Asset protection, by definition, is mainly concerned with situations where an individual or entity is facing a potential or actual liability and wishes to protect existing assets or property. This type of asset protection or liability protection is not mentioned or authorized in the statute concerning corporations, LLC’s, etc; therefore it is not permitted. On the flip-side, all types of asset liability protection, with the exception of limited liability of shareholders, are permitted within the Texas Joint-Stock Company. However, by using a Revocable Living Trust along with the Texas Joint Stock Company, all types of asset liability protection, including the liability of shareholders, can be accomplished.
Utilizing a corporation, LLC, etc. for the purpose of asset protection also may violate the doctrine or principle of Ultra vires which basically says that acts beyond the scope of power of a corporation, LLC, etc. are prohibited and unlawful. Unless the articles of incorporation authorize the liability protection of personal or individual assets from creditors and the State statute authorizes it, the corporation, LLC, etc. is not authorized to protect from creditors assets formerly owned by the individual. The corporation, LLC, etc. is not authorized to protect assets formerly owned by individuals or other entities. Still not convinced that a Texas Joint Stock Company is the best in Asset Protection? Keep Reading..
The Texas Joint-Stock Company and the Texas Revocable Living Trust are not subject to the doctrine of Ultra Vires; therefore the combination of the two is authorized under common-law to protect assets formerly owned by individuals and/or other entities.
Another important issue that needs to be addressed with the corporation, LLC, etc., is the consideration that if your corporation, LLC, etc. is sued in states other than your home state/place where it was incorporated, the corporation, LLC, etc. must franchise and obtain a charter in the state where the suit is filed or your corporation, LLC, etc. does not have legal standing in that state court. In other words, without franchising and obtaining a charter in the same state where the corporation is sued, even if an answer to the lawsuit is filed, it will be considered a nullity and legally ineffective. And, most likely a motion for default judgment would be filed/granted against the said corporation, LLC., etc. Then, with the assistance of the Long-Arm Statute, a suit would also be filed in the home state of the corporation, LLC, etc. based on the default judgment from the other state resulting in an automatic judgment in the home state of said corporation, LLC, etc. The end result would be a collection of the assets of said corporation, LLC, etc. by the sheriff.
In comparison, if a Texas Joint-Stock Company is sued in any state of the United States, it has legal standing in the court to file an answer and defend itself in any such state. The reason is that the Texas Joint-Stock Company by itself does not limit the liability of the shareholders. Remember, it is the attribute of limited liability of the shareholders that triggers the requirement and necessity of franchising and obtaining a charter in every state where a company is sued or needs to sue. Thus, it is wise and nearly a necessity to franchise and obtain a charter in every state where your corporation, LLC, etc. does a business transaction.
It is key to remember: A Texas Joint-Stock Company may do business in every state and sue or be sued without franchising in that foreign state or obtaining a charter and without recording or registering with few exceptions.
Several asset protection promotion companies emphasize the anonymity, privacy or secrecy that can be obtained with the combination of using a Nevada Corporation/Bearer Shares/Nominee director. This concept is misleading due to the fact that the original articles of the Nevada Corporation are filed with the Nevada Secretary of State listing the incorporator, directors, registered agent, etc., which become public record. Thus, in post-judgment discovery, an individual who intended to protect his/her assets would have to disclose that the assets were transferred to a Nevada Corporation along with its name and charter number. Since the individual would be the initial shareholder, the creditor would obtain the bearer shares. With the bearer shares, which represent voting rights, the new shareholder would vote in a new director of his/her choosing which would allow a change of control and possession of the Nevada Corporation and its assets. And, if the individual had disposed of the bearer shares to someone else, the new holder of the bearer shares would have to be disclosed. If the individual stated that he/she did not know who presently had the bearer shares, this answer would undoubtedly constitute perjury. The creditor could obtain the bearer shares from that bearer share holder by using the Fraudulent Transfer Act which again would give the creditor access to the Nevada Corporation and the assets.
It also must be noted that out of the hundreds of corporations, LLC’s., etc. that have been reviewed over the last thirty (30) years by our legal association and its predecessor, we have not found even one (1) entity where all the necessary filings, boards meetings, minutes, payment of fees or taxes had been accomplished. If a creditor or judgment holder determines even one (1) of these deficiencies exists, this can be the basis for asking a court to set aside the corporation, L.L.C. etc., as a nullity or non-existent entity leaving the assets or properties vulnerable for collection and loss.
The Texas Joint-Stock Company/ Texas Revocable Living Trust does not require filings, additional board meetings, minutes, payment of fees or taxes, etc., other than the filing and payment of federal income taxes for income received by the Texas Joint Stock Company which is taxed the same as a corporation for income tax purposes.
A Texas Joint-Stock Company and a Texas Revocable Living Trust has the ultimate anonymity, privacy and/or secrecy that is legally and practically possible to obtain because with very few exceptions, the Texas Joint-Stock Company and/or the Texas Revocable Living Trust is (are) not required to franchise, obtain a charter, record or register with any state or federal entity or agency. Having said that, even if all the information concerning the Texas Joint-Stock Company/ Revocable Living Trust were publicly known to the creditor, etc., it would still remain a legally defendable entity concerning asset protection and judgment-proofing of assets. It is the combination of the Texas Joint-Stock Company and the Texas Revocable Living Trust which allows its bearer shares to legally and actually terminate, become null and void or vanish. Thus, the creditor cannot legally obtain any shares of stock that would allow control, possession or access to the Texas Joint-Stock Company or its assets. This is real legal asset protection, not an imagined or perceived idea of asset protection as found with a corporation, L.L.C., etc. and which in reality does not work. By now you should start to realize the power of true Asset Protection offered by a Texas Joint-Stock Company, right? If not please keep reading…..
Another important aspect of asset protection is the utilization of multiple entities to isolate the liability of different businesses from each other, or isolate the liability of low-liability assets from high-liability assets. For a private, closely-held business and person, the multiple entity strategy is not practical by utilizing the corporation, LLC, etc. because of the yearly minutes, board meetings, filings with the Secretary of State, paying of franchise taxes or fees, etc. Conversely, the multiple entity asset protection strategy is very practical when utilizing the Texas Joint-Stock Company/ Texas Revocable Living Trust which does not require yearly minutes, board meetings, filings with the Secretary of State, paying of franchise taxes or fees, etc. When one (1) entity or Texas Joint-Stock Company gets sued, the liability is limited to the assets of that one (1) entity.
A resident or citizen of any state of the U.S. or of any other country can set up the Texas Joint-Stock Company/Texas Revocable Living Trust. These Texas entities (a) must be legally recognized in every other state because of the full faith and credit clause of the U.S. Constitution and (b) be recognized by other countries by treaty law. The Texas Joint-Stock Company is recognized both by Texas Statue and under the common-law by and through several court decisions, but it is not regulated by statute thus remaining as an unincorporated business entity. It is regulated by the common-law which allows considerable freedom and liberty in that a Texas Joint-Stock Company can do anything except what the law specifically forbids. The law does not forbid utilizing a Texas Joint-Stock Company formed by private contract in conjunction with a Texas Revocable Living Trust to provide a person asset protection while becoming a private member of our association.
Our comprehensive approach is different from other asset protection programs. We believe that you should understand and have the book, chapter and verse offering legal backup for your asset protection plan. We have no book to sell unlike others who make false claims and misquote the law for their own benefit. You as a smart consumer should read the facts and always be aware of who has your best interest at hand.
Key Features and Benefits:
All of the benefits of the commonly recognized Nevada Corporation with resolution of the deficiencies.
* Allows YOU to maintain full control and possession of protected assets. No nominee director required.
* Does not require encumbering friendly liens on property in order to judgment protect assets.
* Not limited, but total liability protection.
* Protection strategies, even after notification of a pending lawsuit or creditor action.
* Total privacy of financial affairs.
* Minimizes Federal Estate Tax.
* Avoids Probate.
* Eliminates State Franchise Tax.
* Full disclosure backed by book, chapter and verse of supporting legal precedent.
* No other program compares!
Ten (10) Advantages of a Texas Revocable Living Trust*
1.) Eliminate Wills and completely Avoid Probate of assets. Avoid multiple probates of assets if real properties are owned in more than one state and/or another country.
2.) Maintain more privacy of family and business affairs.
3.) Minimize Federal Estate Taxes and State Inheritance Taxes.
4.) Distribution of assets to the Beneficiary(s) can be protected from their creditors and lawsuits with a Spendthrift Clause.
5.) The Trust assets cannot be used to satisfy the individual or personal debts of the Trustee(s). (Refer to Texas Trust Code §101.002.)
6.) Assets can be protected from the Grantor(s’) creditors and lawsuits after four years from the transfer of the asset.
7.) Forms a separate legal entity or person that may obtain its own EIN or Federal Tax Identification Number.
8.) Eliminates the legal requirement of executing a written notarized amendment when assets are added or removed from the Revocable Living Trust. (ProAdvocate Group provision for a Texas Trust.)
9.) Use multiple Revocable Living Trusts to legally isolate high liability assets from low liability assets.
10.) May be able to reduce, or in some cases, eliminate liability insurance premiums concerning certain assets or businesses.
*Special provisions and clauses included in ProAdvocate Group Texas Revocable Living Trust. Additional Advantages of Using a Texas Revocable Living Trust * form Recommended by ProAdvocate Group as a Business Entity Trust in place of a Corporation, L.L.C., L.L.P., etc.
1.) All Ten (10) Advantages of the standard ProAdvocate Revocable Living Trust.
2.) Can Do Business in all fifty (50) states without chartering or franchising in each state.
3.) Eliminate paying Franchise Taxes and filing Annual reporting requirements in all states where business is conducted.
4.) Business Entity Trust can be represented in a lawsuit by the trustee(s). (Corporations, etc. must be represented by a licensed attorney in that state.)
5.) Business Entity Trust can sue and be sued in all fifty (50) states and receive service by its trustees or officers. (Corporations, etc. must be chartered and in good standing.)
6.) Business Entity Trust may have perpetual Board of Trustees with no annual elections.
7.) The trustee(s) are not individually liable for judgments issued against the Business Entity Trust if proper trustee(s) signature(s) are used. (Texas Trust Code §114.084)
8.) A Business Entity Trust that is a partner of a General Partnership limits the individual Grantor(s) from judgments against the General Partnership (Texas Trust Code §114.085)
9.) Multiple layers of Business Entity Trusts can give ultimate maximum protection and privacy.
10.) Separate Business Entity Trusts for each venture or contract further isolates potential liability.*Special provisions and clauses included in ProAdvocate Group Texas Revocable Living Trust.
Everyone over eighteen (18) should have a Revocable Living Trust: If you die without a Proper Revocable Living Trust in the United States, the local Probate Court must administer your estate assets without any direction or input from you. The Probate Court will appoint guardians for your children and how to best distribute your assets. ProAdvocate Group believes that the Living Trust is one of the best legal concepts and documents devised by man. Our research has shown that a Revocable Living Trust has many advantages besides the obvious avoidance of probate. It gives you control over what happens to your assets and children when you have passed away. As you can see a Trust is an important document to have, even if you don’t have many assets. By drafting a Will on the other hand you will need the “help” of a Lawyer and even if you have a Will, Probate Court is inevitable and depending on your expertise you will need more “help” from a Lawyer, which only reduces the amount of your money left to your heirs. Also in most cities and states today the local probate court requires all personal representatives to have an attorney!
By the way there are a possible 76 steps involved in the Probate Court Process which is why Lawyers usually are needed, but you can avoid all of this with a proper Revocable Living Trust.
The properly set up Revocable Living Trust will allow you to:
1. Maintain privacy of family and business affairs.
2. Judgment-proof assets concerning the four (4) areas of potential liability, i.e., two (2) types of direct piercing and two (2) types of reverse piercing. (Most attorneys do not recognize all these problem areas.) There is bullet-proof protection of trust assets after four (4) years of existence.
3. Save on Federal Estate Taxes and State Inheritance Taxes. This means that the government takes less of your estate, and therefore more is left for your heirs.
4. Use the Revocable Living Trust as a business entity in place of a limited partnership, limited liability company or corporation, etc., to eliminate the disadvantages of these other entities while maintaining all the positive advantages. *Additional provisions are required to gain the advantages of a (Business) Revocable Living Trust.
5. A Trust is revocable, which means it can be changed as many times as you like while you are still alive!
6. Eliminate franchise tax and reporting requirements of other entities while maintaining an equivalent limited liability protection for the equity owners.
7. If you own your own business, having a Revocable Living Trust is vital in keeping your business alive and running. A business could go months without leadership or direction until such time as the Court appoints a proper manager. These periods of inactivity can cripple a business leaving nothing to sell, or run for your heirs.
The seven (7) things listed above are available to you only if your Revocable Living Trust is properly set up.
If you have already set up or are involved in some form of living trust, your concern should be whether your living trust is validly set up under the existing Statutory Trust Code in your state. Do not make the mistake of thinking that just because your living trust was set up by a large law firm or well known and respected lawyer, it is properly executed, with no flaws, errors, omissions or defects. Our experience has shown that most living trusts are boiler-plates and have at least one (1) and as many as seven (7) problem areas that may be very detrimental to your financial security and well-being.
Let ProAdvocate Group create the proper, legal and ultimate Revocable Living Trust, contact your Marketing Representative !! and request your Special Free Report on how a unique and specially drafted Revocable Living Trust can offer Bullet-Proof Asset Protection after four (4) years [or 7 years if you live in California]
TEXAS JOINT-STOCK COMPANY PREVAILS AFTER A VICIOUS ATTACK FROM
“So-called Self-Proclaimed Experts” FAIL !!!
The competition to us in asset protection knows that their program and strategies do not work in the real world. Thus, they must attempt to discredit a program that offers an asset protection program that has a legal defense that is reasonable and is backed up with the book, chapter and verse of the law.
The detractors of the Texas Joint-Stock Company are correct in stating that it is an unincorporated entity. They also wrongly state that it is much like a general partnership. The Texas Joint-Stock Company is considered in some respects as a species of general partnership, but it also has all of the corporate characteristics except limited liability of shareholders. When the Texas Joint-Company is combined with a Revocable Living Trust, the equivalent of limited liability of shareholders is accomplished. Therefore, the combination of the Texas Joint-Stock Company and Revocable Living Trust (TJSC/ RLT) becomes much like the corporation and the opposite of the general partnership. In other words the TJSC/ RLT has the advantages of the corporation and the general partnership while eliminating all the disadvantages. In addition, the Texas-Joint Stock Company is setup by a private contract which is not the case with a general partnership.
The detractors show their true motives and colors by falsely stating that Section 31.10 of the Texas Business and Commerce Code requires that any person conducting business as a Texas Joint-Stock Company must file in each county in which the entity is doing business a statement setting forth that a fictitious business name will be used.
THERE IS NO SECTION 31.10 of the TEXAS BUSINESS AND COMMERCE CODE !!!
Section 31 is reserved for future use by the Texas State Legislature. The name given and adopted by the Texas Joint-Stock Company is not a fictitious name; it is the real name of the Texas Joint-Stock-Company.
It is true that ordinary general partnerships provide very little, if any, in the way of asset protection. But the Texas Joint-Stock Company has numerous vast differences when compared to a general partnership which are as follows:
1.) Has all the corporate characteristics, except limited liability of shareholders.
2.) Formed by private contract creating a separate entity.
3.) Recognized by a specific Texas State Statute, but not regulated by the Uniform Partnership Act.
4.) A shareholder cannot bind other shareholder concerning liability, etc., etc.,
The Master Deception Concerning Asset Protection.
The reasons for the difficulties of obtaining the truth concerning asset protection are the master deceivers in this field. One example of this dilemma are the overt acts of an attorney by the name of Jay D. Adkisson who has falsely and erroneously set himself up as a self-appointed expert and watch dog of the industry. He uses his asset protection website Quatloos.com to expose the scams but also attempts to stamp out any serious legitimate competition. The asset protection that Jay D. Adkisson teaches comes from protecting the self-interest of the legal profession of discouraging any real asset protection techniques or plans that really have a high probability of success. Remember, Lawyers make their living collecting on judgments, therefore it is not in their best interest to advocate a practical bullet-proof asset protection method or plan for the average citizen and they do not.
The old saying is that, “if you live in a glass house, it is not a good idea to throw stones at others.” This principle is especially true and applicable to the situation referred to in this write up. Apparently, Jay D. Adkisson has teamed up with Christopher M. Riser to write a book entitled, Asset Protection- Concepts and Strategies for Protecting your Wealth.
First, we have to assume that serious errors that are found in the said book did not occur by accident or lack of knowledge or understanding. This is because it can be presumed that attorneys who claim to have done extensive research and study concerning estate planning and asset protection and who claim be experts along with being watch –dogs of the industry must have intended the advocacy of the serious errors, mistakes, misrepresentations, fraud, trickery and deceit that are found in their book. These master deceptions are going to be proven by references to book, chapter and verse of the law that is respected by the U.S. Supreme Court, other courts and statute. (See attached letter).
Again, regarding postings on this forum regarding ProAdvocate Group and services offered, in particular the Texas Joint-Stock Company, the intent is obvious. It appears that the purpose of the Quatloos organization is self-serving in the interest of promoting Jay D. Adkisson book and his related services and to discredit any and all alternative approaches to the competition. All of this is in the guise public service. If you can’t beat um, slander um and sell more books.
It is beyond me, how judgments can be made without so much as a phone call to understand the basis of the program and yet there seems to be enough time to speculate and categorize us as just another scam, and we all know that there are many out there. I would challenge any of you to learn about the underlying principles that support the programs and then deal with what issues you may have.
I can assure you that programs offered by ProAdvocate Group are backed by absolute book, chapter and verse of the law that supports every principle of what is taught and implemented, Unlike many other “so-called” asset protection strategies, we put it on all on the table. There have been many attorneys and CPA’s to review the material and not once has any skepticism been substantiated. In fact, the biggest skeptics become the strongest advocates.
Some may say that if it sounds too good to be true, then it probably is. I am confident that a little time spent in understanding the program instead of blasphemy, the facts would become clear. These programs are a quantum leap over anything else out there and all perfectly legal.
Regarding one of the principles, Karl L. Dahlstrom, it is indeed true that he had a legal issue with the IRS. If the government is intent on persecution, it can be done, If you want a clear picture of Karl L. Dahlstrom, Check out U.S. v. Dahlstrom, (713 F2d.1423) a landmark IRS case.
Just a little indication of what a fighter is all about in the name of justice. This case was won by Karl L. Dahlstrom at the Federal Circuit Court level and the U.S. Supreme Court.
Again, I suggest that anyone with concern deal with the real issues instead of stooping to slander as a technique of self-promotion. When the income tax issues were taken to Tax Court, we lost and therefore ceased advocating income tax savings with foreign pure trust organizations in the early 1980’s. What has continued to work for over thirty (30) years is avoidance of probate, avoiding federal estate taxes and asset protection.
Another detractor, who undoubtedly uses an alias, Bill Smith, also attempts to defend the legal profession’s stand on asset protection starts out by equating us with what other organizations are attempting to do with the Pure Trust.
First, what exactly is the “Pure Trust” Scam? It is where the “Pure Trust” was used to avoid filing tax returns and paying income taxes.
No one involved with the ProAdvocate Group ever advocated that the U.S. Pure Trust could be used to avoid filing tax returns or pay income taxes and never will. However, the pure trust has been successfully used for avoiding probate and asset protection.
Second, Mr. Bill Smith who undoubtedly is an attorney or representing an attorney, shows his total ignorance when he looks for exceptions in the Uniform Fraudulent Transfer Act (UTFA). The UTFA is a statute and numerous court decisions give us the civil exclusionary rule of interpretation which states that, “when the statute states something, it is to the automatic exclusion of all else”. The statute does not give us all the exceptions because they are usually too numerous to list. The state legislatures were well aware of the Constitution provisions dealing with private contracts when they passed the UTFA. But, they deliberately chose not to include private contracts in the UTFA which is proof of their intent not to do so.
Thirdly, the analogy or example used by Mr. Bill Smith, the so-called self appointed expert on the law shows that he is nothing more than a master deceiver. He says, the following is an absurdity,
“If two people enter into a private contract to commit murder, they couldn’t be prosecuted under state law because the U.S. Constitution would be supreme to the contrary state law.”
The analogy attempted here is to equate murder to asset protection with a Texas Joint-Stock Company. There is nothing like using apples and oranges when you are trying to deceive someone to win a point. A private contract to commit murder is completely different than a private contract to set up a Texas Joint-Stock Company for asset protection.
First, murder is a mala in se crime or a crime in itself and could of course never be a basis for entering into a legal private contract. If entering into a private contract to form a Texas Joint-Stock Co was a crime, which it is not, it could only be a mala prohibita crime, a crime that is not a crime in itself, but a crime created by the legislature or congress in a prohibition statute. For example, in the earliest part of the 19th Century, no license was required to sell securities, now it is a crime to sell securities without a license, because the state legislature or the federal congress made it a crime.
Now, let’s have Mr. Bill Smith give us the statutes were the legislature or congress made it a crime to enter into a private contract forming a Texas Joint-Stock Company. There is none!
Oh, Bill Smith may or would erroneously argue that a private contract cannot be made to violate the UTFA. But the UFTA is a civil statute, not a criminal statute and the UFTA does not even mention a private contract or prohibit using a private contract for asset protection. If the UFTA could impair the obligation of a private contract, then taken to the extreme, business and commerce could be shut down by every real or imagined creditor concerning property or assets. This is absurd and unrealistic!
However, a die hard master deceiver would not give up. Mr. Bill Smith would or may still try to argue that you can not use a private contract to even civilly defraud creditors, but this is not the issue because higher legal considerations have to be made first. The right to contract privately is a constitutional right under the liberty clause of due process and equal protection of the 5th and 14th Amendment of the U.S. Constitution and there are numerous U.S. Supreme Court decisions upholding this right to contract. Therefore the rights of creditors do not supersede or exceed the liberty of the constitutional right to private contracting before the creditor reduces his claim to a court judgment. If creditors feel defrauded from the use of private contracts, they can lobby the legislatures to change the law. Until the law is changed which has little or no chance of happening, they will have to reduce their claims to a court judgment before the private contracts take place.
Everyone should challenge Mr. Bill Smith to cite a valid court case where a legal private contract was impaired by the UFTA. He can not use the pure trust cases where persons set up pure trust private contracts to avoid filing income tax returns because that is a completely different situation and context. The non-filing of income tax returns is a crime.
It is ludicrous to equate murder, a crime in itself, to the liberty of right to private contract which is not only legal, but a constitutional right of due process and equal protection of liberty and freedom to enter into a private contract for asset protection. Therefore, it is not an absurdity for two people to enter into a private contract to exercise a liberty interest protected by the U.S. Constitution to accomplish asset protection. It is a common law and constitutional right backed up by book, chapter and verse of numerous U.S. Supreme Court decisions. Mr. Bill Smith apparently puts his erroneous opinions above the U.S. Constitution and the U.S. Supreme Court to deceive the public trying to protect his own self-interest and eliminate the competition.
Yes, the Texas Joint-Stock Company by itself does not limit the liability of the shareholders for the debts and obligations of the Texas Joint Stock Company. This is why the TXJSC is used in conjunction with other legal entities to achieve the desired end result of asset protection. Just because Mr. Bill Smith is ignorant of how or why this works, this doesn’t result in it not working. Also, even if an entity does not achieve limited liability of shareholders which is one type of asset protection which is known as “inside direct piercing”, this has nothing to do with the “outside reverse piercing” type of asset protection. Most persons interested in asset protection are looking for “outside reverse piercing” asset protection. This is where an individual or entity is concerned about losing its assets to a future judgment and transfers those assets to a third-party separate legal entity. Asset protection in this case is to eliminate the “outside reverse piercing” or avoiding or stopping the creditor or judgment holder from obtaining the assets from that third-party legal entity. If an asset protection plan does not offer limited liability for shareholders, this does not mean that “outside reverse piercing” asset protection can not be accomplished.
ProAdvocate Group is not blatantly misrepresenting how the real world LP’s and LLC’s work to protect assets. The real world is that L.P.’s and L.L.C.’s were created for larger groups of participants. In many cases involving private closely-held L.P.’s or L.L.C.’s, when a creditor or judgment holders obtain a charging order, they will successfully request that a court, issue an order based on the “equity doctrine”, to liquidate the L.P.’s or L.L.C.’s to the charging order holder. This is the real world of L.P.’s and L.L.C’s and how they do not “work” to protect assets.
To all of the self-promoters of this site concerning asset protection, I challenge you to at least give this organization a phone call and post real information about what works and what doesn’t. Be professional and deal with the facts if you are going to tout a public service web site.
What have you got to lose other than your own credibility?
The detractors become more outrageous when they state that 1st & 14th Amendment Medical Associations can be created only by statute. The following is our answer to them that should convince any one that what they are attempting to do is legal treason against our form of government and its legal system.
You have to be kidding! Now, you are changing the entire basis of the legal system in the United States and Texas. Our founding fathers in the U.S. decided to base our legal system on English common-law, not a civil code system. When the State of Texas was established, the legal system was determined to be based on the common-law of the several states by the Texas legislature which adopted a statute to that effect in 1840.
Apparently, you wrongly believe that our legal systems are based on a civil code or statutory system. The basic principle of a civil code system is that, “A person cannot do something unless there is a statute or code that authorizes a person to do something.” The basic principle of a common-law system is that, “A person can do anything except what the law specifically forbids”.
Three (3) Federal judges of the Ninth Circuit of the United States Court of Appeals agree and have confirmed the above correct explanation of our legal system, in the U.S. when they ruled and taught, “There are places where, until recently, ‘everything which [was] not permitted [was] forbidden…. [W]hatever [was] permitted [was] mandatory…. Citizens were shackled in their actions by the universal passion for banning things.” Yeltsin Addresses RSFSR Congress of People’s Deputies.
“Fortunately, the United States is not such a place and we plan to keep it that way. If the government wants to forbid certain conduct, it may forbid it. If it wants to mandate it, it may mandate it. But we won’t lightly infer that in enacting 18 U.S.C. § 371 Congress meant to forbid all things that obstruct the government, or require citizens to do all those things that could make the government’s job easier. So long as they don’t act dishonestly or deceitfully, and so long as they don’t violate some specific law, people living in our society are still free to conduct their affairs any which way they please.
”U.S. v. Caldwell, 989 F.2d 1056 (9th Cir.1993)
After reading this case, I don’t believe you could find many attorneys who would publicly agree with your position on how our legal system works! Therefore, unless there is a law forbidding the formation of 1st & 14th Amendment Medical Associations, we have the liberty and freedom to create them.