In recent months most American families have changed their strategy to protect their assets and for financial security. With rapid changes brought about by social distancing and stay-at-home orders, now is the time to make sure your family’s assets are protected from judgments from personal injury, divorce or any other unexpected legal action.
It will take more than wearing a mask and washing your hands to protect yourself and your family during this period of uncertainty and high unemployment. Even attorneys are finding themselves with down-time during the current pandemic. An under-employed attorney looking to file more lawsuits for more clients could be a risk for anyone — not just the wealthy elite.
ProAdvocate Group can preserve your assets by establishing a Texas Joint Stock Company / Revocable Living Trust Combination. Using these tools makes you far less vulnerable in a wide variety of situations: your teenage son being involved in a car crash, a neighbor falling in your driveway or a claim that a client was infected with COVID-19 at your nail salon.
This combination protection plan can also help shareholders from the “professional” injured party who frequently files lawsuits to enrich themselves. The structure used by ProAdvocate Group makes it more difficult to collect from you, encouraging these scammers to move along without selecting you as a target.
When a shareholder in a TJSC dies, there’s no estate taxes to pay or complicated probate proceedings. And, unlike corporations, there’s no annual franchise fees to pay. A TJSC is a private contract agreement recognized in all 50 states.
In short, the Joint Stock/ Revocable Living Trust offers you more opportunities to grow your assets with more confidence and less risk. As artificial entities they are not limited by human traits like mortality. They are less vulnerable to sudden changes in the economy as well as natural or man-made disasters. It puts in place many protections afforded by incorporation, that is more suitable for small partnerships or sole proprietorships
To learn more about how ProAdvocate Group can help protect your assets, or anything else, please Contact Us.