Mark Emery’s Private Asset Management System is fully described at https://vimeo.com/ondemand/pams. It includes his version of BIC’s Natural Law Trust. His is called the COLATO, which stands for Common Law Trust Organization.
The main difference between Mark’s COLATO and BIC’s NLT is that the COLATO is jurisdiction-specific. It is domiciled in Anguilla and flies the flag of Anguilla on its cover. The reason Anguilla was chosen is that it is under British Common Law, so the common law trust could have an actual national government to look to for its authority. This is useful especially for foreign business, offshore activities, and international asset protection.
By contrast, the NLT has elected to have no domicile or jurisdiction. The trust contract may cite the common laws of an American state, or any location in the world, but the trust itself operates under the inviolable universal right of private contract. Rules of contract law are governed by the UCC, which is global, but the trust is sovereign in the sense that its right to exist is not dependent upon the permission of any authority. Only the specific actions of its officers may be subjected to limited jurisdictions if needed.
The other main difference is the COLATO provides no choice in who is designated as the trustee. It provides a Panama foundation as the trustee.
With BIC’s NLT, the client himself can be the trustee if he chooses, and if he learns how. Or he can appoint a friend as trustee. He can even name a family member as trustee if he appoints a nominee grantor, and is not grantor himself. Further, BIC’s NLT can also provide a professional trustee service, like the COLATO, if the client desires. So there are more choices.
