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N Cal Attorney
N Cal Attorney, Attorney
Category: Estate Law
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Experience:  Since 1983
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I have a case pending in federal courtAs I want

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I have a case pending in federal court As I want to save the expense of setting up a Trust without knowing the outcome of the judgment Can I assign a claim for punitive damages to a revocable trust to be mamed later? Thanks Hubert XXXXXXXX

Thank you for your question.

I have to ask what the claim is based on.
Customer: replied 3 years ago.


My claim for punitive damages is based on 3 instances


 


1/ I have pointed out a motive for Defendants not to follow the tthe terms of an employment agreement containing a deferred compensation arrangement


 


2.Defendants commingled Company funds with ERISA protected funds in order to cover up paragraph 1


 


3 Since 1986 at least 11 officers of the company and an auditing firm conspired to deny me my benefits earned under a deferred compensation plan and a deferred compensation arrangement in an employment agreement

So is the complaint based on breach of contract?
Customer: replied 3 years ago.

Thank you for being so thorough


The deferred compensation arrangement in the employment agreement and not following the terms of the employment agreement including a motive for not doing so point to a breach of contract as claimed in my 3rd amended complaint


 


The commingling of funds fron the deferred compensation plan with an investment account set up to meet the obligations under the deferred compensation arrangement (account balance plan) in order that one could not distinguish the assets from one plan to the other would be considered fraud and subject to statutory penalties


 


The conspiracy committed by at least 11 officers of the company and an auditing firm since 1986 to cover up and aid in these offenses among other offenses would be subject 5 times compensatory damages


 


The use of the "illegitimat tophat provision" as their main defense to exhaust plaintiff's resolve and resources should subject plaintiffs to pre judgment interest of Missouri statory rate 0f 9.5% per year since 2007


 


 


 

Your question is rather complex, see
http://openjurist.org/65/f3d/741/quick-v-national-auto-credit

In general, contract claims can be assigned but tort claims usually can not be assigned.

Assuming the claim is assignable, there is a rule against splitting a cause of action, so my opinion is that you could not assign part of a claim. Also, a valid assignment requires that the assignee be an existing entity.

So my answer is No, you could not assign a claim for punitive damages to a revocable trust to be named later.

You can get a free consultation from some of Missouri litigation attorneys listed by location here.

I hope this information is helpful.
N Cal Attorney and 4 other Estate Law Specialists are ready to help you
Thank you for the Excellent rating!

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