I own a self-storage facility and rent an apartment above my office.In August of 2010, there was a break-in at the apartment, an attempted robbery and a tenant was shot and injured.I was notified in April 2011 by the tenant's attorney requesting that I refer the matter to my insurance company, which I did, or they would sue me. I did refer the matter as requested, my insurance company turned down the tenant's request(the incident has nothing to do with any fault on my part; all security measures that reasonably should have been taken were taken; all premises were maintained properly)No lawsuit has been filed. I am looking to transfer some liquid assets into a Roth IRA or some like vehicle.Would doing so run afoul of the Uniform Transfer Act, or any like statutes? Again, no lawsuit has been filed, nor have I heard anything since the original April letter.
Country relating to Question: United States
State (if USA): New Jersey
Absolutely not. There is no statute prohibiting you from moving your assets around. Presumably, you are looking to do this in an effort to shield your assets in case of a lawsuit and judgment. Quite frankly, if the plaintiff does actually decide to file a lawsuit against you, you should send the summons and complaint to your homeowner's and commercial insurance carriers and they will be obligated as per the terms of your policy, to defend and represent you, and pay out any judgment up to the limits of your policy.
10+years of experience in all matters of civil litigation and Hearing Officer/Arbitrator
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