There are many risks to be mitigated during this period of uncertainty; therefore, it becomes imperative to ensure that you are financially stable. Financial stability leaves you to focus on other issues that require more of your time. However, to achieve this, you need to reduce the risks that make you vulnerable and take substantive measures to ensure that you are financially secure. This means protecting your valuable assets.
To ensure that you fully protect your assets, you need to take advantage of tools such as the Texas Joint Stock Company, which reduces your vulnerability in a wide range of situations.
That being said, here’s how a Texas Joint Stock Company can help you protect your assets and offer financial security to help you sail through this difficult period.
What is the Texas Joint Stock Company?
A Texas Joint-stock company, or rather revocable living trust combination, is a private contract agreement whose sole aim is to protect members’ assets, therefore, allowing them the financial security they need to grow.
What is the Legal Basis?
The TJSC is founded by a private contract under the common law. It draws its validity from the Texas statute and Federal statute, which recognize it as a legal entity and separate person under the law.
Public Contract Vs. Private Contract
The fact that the TJSC is founded under a private contract means that any exchange you undertake falls within the scope of a private contract. What this means is that your assets are saved within the private limb, and therefore they are shielded from any public transfer that can be made.
On the other hand, a public contract is governed by the Fraudulent Transfer Act of State and Federal Law. This legislation applies to the transfer of assets within LLP’s, irrevocable trusts, etc. The worrying fact about a public contract is that it isn’t judgment proof. This means that your assets can be easily transferred by a public contract, through a court order, to your Individual estate to satisfy the judgment.
What are the Benefits of Texas Joint Stock Company?
Joining the TJSC comes with multiple benefits in terms of financial security. Some of the significant benefits include:
- You can avoid the requirement of wills and probate on assets that are transferred to the TJSC.
- You can operate and do businesses within all 50 states since TJSC is widely recognized in all of them.
- Your assets’ privacy is ensured since there is no mandatory requirement for your records or even registration.
- Your assets are fully protected, and also they are judgment proof which means that they are not easily transferable.
- You can avoid all federal estate taxes when it comes to assets transferred to the TJSC.
Protect Your Assets
ProAdvocate group can help preserve your assets by establishing a Texas Joint-stock company / Revocable living trust combination. By joining this association, your assets are protected, leaving you to focus on other significant issues. Always remember that it’s not what you own, it’s what you control. This is the secret to how the wealthy maintain wealth even under the most adversarial of circumstances.
Contact us to learn more about Texas Joint Stock Company and how it can help you.