Texas Joint-Stock Company/Revocable Living Trust
Living trusts can be quite confusing to the average consumer. First, creating a living trust occurs while a person is still alive. Within the living trust, assets are gathered and transferred from an owner’s name into the name of the trustee assigned to the living trust. The property within the trust is owned by the…
To understand why a living trust could be the best option for you, it is important to understand the functions of a trust in general. In order to do that, it is important to understand what happens under normal circumstances when people die. At some point, either before or after death, everything you own, every…
It’s commonly understood that it makes sense to have some form of written document that details how your assets will be divided up and distributed after you pass away. However, there are some important differences between the two concepts. A living trust, which is often referred to as a “revocable” trust, is a binding legal…
When judgment proofing has been overlooked it is common practice for a creditor to go after a person or business that does not pay their bill as agreed upon. When this happens, there are a variety of ways that the money awarded in a judgment is collected: Wage garnishment Bank account levy Real estate lien…
It’s not what you own, it’s what you control. How do the wealthy maintain wealth even under adversarial conditions? Texas Joint-Stock Companies are often the answer. We at ProAdvocate Group are able to help you set up a Texas Joint-Stock Company and avoid liability. You will be judgement proofing your company! A Texas Joint-Stock Company offers…
If you’ve been considering estate planning, and specifically a living trust, it may benefit you to consider a family trust. A family trust is a type of living trust, with the allocation of assets or funds being made to your named beneficiaries – family members – with certain conditions attached. The trust is managed by an appointed…
In today’s seemingly sue-happy society, one has to plan for asset protection. You work hard to save money, plan for retirement, and buy stocks, bonds, CDs, real estate, and vehicles. After all, isn’t having financial security considered part of the American dream? It can be scary to think that a resentful neighbor, or an unceasing creditor, can…
What is judgment proofing? According to nolo.com: “When a creditor sues you and gets a money judgment against you, it has a variety of methods it can use to collect on that money judgment… However, if you don’t have any income or property that the creditor can legally go after, then you are what is often…
There are a number of important benefits to the creation of a living trust. Of course, different states have different regulations regarding the formation of a living trust, but the underlying function of the trust remains the same: all the property that is left in trust does not have to go through the probate system to…