adirolfnitsol,

That sounds like probate to me. And probate is easy to avoid by placing a will within a trust and not naming the heirs. The estate is held for "ourselves and our posterity". Therefore there cannot be a life estate or an estate for years and therefore the estate is indefinite. I liken this to a will within a trust. Therefore at the death of the Testator there is no transfer and the board of trustees and board of directors continue to act without any disruption to trust business. The corpus does not change hands. Therefore since the estate is not TRANSFERRED no taxable event.

Equity acts IN PERSONAM. If the Trustor creates a trust binding himself to certain covenants which he/she agrees to perform wherein said Trustor appoints a Trustee, names a beneficiary and gives purposes/intent and life span of the trust [usually 30 years], then Trustor appoints himself as Borrower within the Covenants of said trust agreement - well then I would pretty much say that said Trustor created his/her own prison. How then will said Trustor argue in Equity when said Trustor created the Trust, created the terms of the Trust, and agreed to the Covenants which he/she created?

Consider now anything might have been used as a medium of exchange in the debtor/creditor relationship established in the Covenants. Perhaps certain rocks are the money - or perhaps and I am going out on a limb here, but just maybe - the value or equity is in the Promises that said Trustor/Borrower UNDERTOOK to perform. Having said that, I would maintain that if I made you a promise then you would have an equitable interest in me. And I would have a legal duty to you to perform my promise.

My promise does not require necessarily your consent. Sort of like a banking agreement it is signed by one party - therefore it is an undertaking - where in I become an Unsecured Creditor to one of the Trusts [banking agencies - ref 12USC90].

Names hold destiny and inheritance. If we are building on Scripture then that is a fact. A name is, well sort of a fiction, being that I am a living soul.

Shalom,
Michael Joseph