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Recent Asset Protection questions

Again -- the Florida buy currently paying $20,000 a month in

Gerald, this is Frank again -- the Florida buy currently paying $20,000 a month in alimony. I'm starting this question off as a new topic in the hopes that you will be fairly compensated; and so we might be running a number of threads. (I've already posted another question to you in a separate thread this morning.) Can you tell me how to get through asking the court for an adjustment of the alimony amount under my "nonmodifiable" divorce agreement without it costing an arm and a leg. The attorneys fees for my divorce were around $300,000, and my attorney said that if we went to court it would add an additional $200,000. There's little sense in fighting to reduce alimony only to have it eaten up in attorney's fees. Anyway, I imagine that most attorneys see how much money a client has, and then bill accordingly. I'm hoping to pay a fair rate (per hour) that's independent of my financial status. So, 1.) how much do you think my moving forward will cost me; and 2.) how can I keep the attorney costs reasonable?

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Gerald, Esq

Juris Doctor

7,162 satisfied customers
I wanted to see what my options we're with this cuurent

Hello, I wanted to see what my options we're with this cuurent judgement that's been granted. To give you some background, this company was a llc that was dissolved back in 2012. I avoided going to court for years thinking it would just go away. I reveived a letter in the mail saying that I was due in court for contemt and may face imprisonment. After talking to an attorney it seems that i'm what you would call judgement proof since I have little in personal bank accounts and no property. My concern is that I started a new corporation in 2014. Are any of the assets up for grabs with this judgment?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,390 satisfied customers
My wife and two siblings own two townhouses in Sarasota

My wife and two siblings own two townhouses in Sarasota Florida. They are rented full time. As Canadian citizens should they consult with an attorney as to civil protection, lawsuits, asset protection etc. Not sure if insurance is enough? Thanks in advance.JA: Because laws vary from place to place, can you tell me what state this is in?Customer: As mentioned the properties are in Sarasota Florida.JA: Has anything been filed or reported?Customer: Not sure what you mean?JA: Anything else you want the lawyer to know before I connect you?Customer: No, just want to know the best thing to do to ensure we are protected in case of any civil suits etc. There is nothing pending.

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Ray

Lawyer

Doctoral Degree

42,864 satisfied customers
I went thru self checkout at Walmart yesterday and asked for

I went thru self checkout at Walmart yesterday and asked for cash back..I left before the machine paid out the cash. Next customer comes and pockets it.The guy that is asset protection says he looked at the camera and seen a girl pocket it. But it is my loss because they didn't steal any merchandise so he can't call the cops ,or give me a refund.does Walmart have to refund me the money? I'm in New Mexico

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LegalKnowledge

Juris Doctor

36,164 satisfied customers
Thank you very much for the very clear and prompt answer.

Hello,Thank you very much for the very clear and prompt answer.Here my next question:I trade futures and my income currently, as an individual tax-payer, is taxed under Section 1256 contracts or straddles, i.e. 40% short term gain rate and 60% long term gain rate. In 2016, I had a trading profit of $400,000. I expect in the future to generate similar or higher profit. I don't have any significant costs, say max 5,000$ a year for phone, internet, a computer and staples.Based on this information, what would be the company structure that would allow me to achieve the overall best tax treatment while limiting my personal liabilities?Best regards,Yulia

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39,608 satisfied customers
I currently trade securities and futures as personal

Good afternoon,I currently trade securities and futures as personal investor.I am considering to create a single member LLC (either incorporated in my residence state CT or in Delaware mainly with the purpose of assets liability protection.I have been recommended be to elect S-Corp status for the LLC as in terms of taxes it means corporate tax breaks, pass-through income and no double taxation.My first question is: at what tax rate would I be taxed? at the rate of a single tax payer or at the tax rate of a corporation?If in the future the tax rate of corporation gets reduced from 35% to 20%, what is the most tax advantageous way for me to trade: as person or as LLC or what else?Thank youBest regards,Iulia

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39,608 satisfied customers
In 2008'2009 i lost my home. the bank sold it for $90 more

In 2008'2009 i lost my home. the bank sold it for $90 more then i owed. kept the money lied to the IRS told them i owed them money. I had about $60,000 in credit card debt. I lost my insurance and moved to Ecuador to life off the small income i had from a percentage of a business i owned and get medical care. i have been here for 6years. i have not recieved a summons as i left no forwarding address. Now that buniss has sold. i would like to move back to the US and buy a small house and put the rest in an anuity or something that would create a small income. I can not afford to give it to creditors or make payments. What can they do to me at this point. how can i protect what little i have left that needs to last the rest of my life as working is not an option at this pointJA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: also my taxes are current. it is just the cc debt. I was living in California and Hawaii. The statute of limitations is up for those states. but not sure if they could have filed judgements. if i never received a summonsJA: Has anything been filed or reported?Customer: i dont know. they dont forwar mail when you leave the country. i have been here for 6 yearsJA: Anything else you want the lawyer to know before I connect you?Customer: not sure

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

116,790 satisfied customers
Are you a lawyer? so do I ask you and then you ask them?

are you a lawyer?JA: No. I'm the Lawyer's Assistant.Customer: so do I ask you and then you ask them?JA: What state are you in? It matters because laws vary by location.Customer: californiaJA: Has anything been filed or reported?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: nope just interested in possibly starting a business

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Dwayne B.

Juris Doctor

37,926 satisfied customers
I am involved in a lawsuit. And I would like to try to

I am involved in a lawsuit. And I would like to try to protect my husbands assets.JA: Because laws vary from place to place, can you tell me what state this is in?Customer: FLJA: Has anything been filed or reported?Customer: YesJA: Anything else you want the lawyer to know before I connect you?Customer: No.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

116,790 satisfied customers
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