Protect your property and assets from judgments or creditors. Exchange your assets for at least 1,000 shares in an unincorporated Texas joint-stock company (“TJSC”). This is a project conducted with a private contract under common law. This venture is safe and recognized by Texas and federal statutes as a separate person and legal entity.
A public contract, or gift, falls under the jurisdiction of the Fraudulent Transfer Act of State and Federal law. A judgment holder or credit can ask an issuing court for an order forcing if they determine you do not have sufficient assets to pay. That entity can ask a court to force you to bring in assets transferred by public contract or gift back into your estate.
A TJSC is not subject to any request filed under the Fraudulent Transfer Act. This declaration is held up by several Supreme Court decisions, your State Constitution, and the U.S. Constitution.
What follows is a list of advantages of the TJSC compared to the often advised corporation or LLC.
- Your assets are protected even if you’re on the wrong end of a lawsuit.
- You avoid all estate taxes on the federal level.
- You avoid any need for a will or probate.
- A TJSC is possible in all 50 states with chartering or franchising.
- It eliminates all yearly reporting requirements and franchising fees.
- The process maximizes privacy since you have the requirement of registration, recording, charters, or franchising regarding entity documentation.
- You’ll have a legal stand with the ability to file an answer to any lawsuit as opposed to being subject to a default judgment.
Your individual and business assets are transferable to a TJSC. If these properties are part of regular use, they can be leased back to your personal or business entity. Your leased assets will not be subject to any judgment of creditors.
If you’d like to learn more about this financial instrument and how to protect assets, contact us.