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socrateaser
socrateaser, Attorney
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Experience:  Retired (mostly)
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Im have been paying child support at least a year an a half

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I'm have been paying child support at least a year an a half now. I owed about
$47,000, starting since 1997 I think. I made up about $13,000. I'm on unenployment. They take more than half from me. I'm trying to start a business. I don't want to pay what they say I owe. But, I don't want them to take my business start up money. I applied for a LLC. Will it keep them from freezing the companies account? I'm not a dead beat. It just took me awhile to realize, the needs of my kids. I've seen what they did to my pay check. I just want the seed money to be safe. Please help me and my sons.....
Submitted: 4 years ago.
Category: Business Law
Expert:  socrateaser replied 4 years ago.

The court can order any money you place into the LLC disgorged. The only way to avoid this outcome is to create your business in an offshore nation that does not cooperate with U.S. authorities (e.g. Nevis, Beleze, etc.), and then create something called a "trust protector," under which if any attempt is made to sue you to disgorge funds, the trust protector steps in and severes your control of the business, so that you cannot comply.

 

This sort of business structure requires a lot of very sophisticated planning, and only a few U.S. attorneys can set it up for you. If that's something you are interested in, you will need to find an asset protection attorney with experience in offshore business entity formation.

 

Another alternative would be to try to work out a stipulated agreement whereby the other parent agrees to waive his//her rights to the arrears, in exchange for something like an ownership interest in your business. Then, he/she will know exactly how much you are making and he/she can get a piece of the action for the children's benefit.

 

Obviously, giving up a measure of ownership is not what you will want to do -- but, you are behind the eightball, because a child support obligation like yours cannot be avoided -- you are stuck with it for the rest of your life, unless you can either pay it in full, or get the other parent to agree to accept a settlement.

 

Hope this helps.

 

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Customer: replied 4 years ago.

I guess my real question is, Can they freeze my business bank account before notifying me. Therefore locking me out from getting to my funds, even as a LLC. What should do to prevent this. As long as I'm notified I'm ok with this. But if they freeze my account and I don't know about it till it's too late. Then I'm screwed.

Expert:  socrateaser replied 4 years ago.

The court could freeze your business accounts, if there were sufficient evidence provided by the obligee parent to prove that the business had money transferred from your personal accounts. This sort of info would be pretty difficult to get, so I think the risk of an ex parte TRO on your accounts unlikely.

 

But it is legally possible, so you cannot eliminate the risk entirely.

 

 

socrateaser, Attorney
Category: Business Law
Satisfied Customers: 34855
Experience: Retired (mostly)
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