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Recent Asset Protection questions

How do I determine weather or not a Trust is statutory or

how do I determine weather or not a Trust is statutory or non-statutory?JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: This service is very kool! WAJA: Have you talked to a lawyer yet?Customer: many over the years, but none on this trust...JA: Anything else you think the lawyer should know?Customer: not on this direct question.... Thanks

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,786 satisfied customers
I had a business chapter 7 bankruptcy in 2012. The

I had a business chapter 7 bankruptcy in 2012. The bankruptcy attorney filed a suit for default judgment claiming fraudulent transfer. I do not have the money to defend even though his findings are false. If this ends up a default judgment is it considered a civil suit. Also if I file a personal chapter 7 bankruptcy, will I be protected from this judgment.

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KJL LAW

Juris Doctorate

1,046 satisfied customers
In the attorney client relationship as the client reaches

in the attorney client relationship as the client reaches the golden years does the fiduciary duty of an attorney include advising the client to prepare a will and family trust to protect their assets against potential future probate. If the attorney omits the mention of legal advisement protecting the client against future probate a disservice? Is this a breach of professionalism and the community standards for a legal professional especially when the lack of this knowledge led to poor decisions on behalf of the client?

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Loren

Juris Doctor

36,350 satisfied customers
I have assets I need to protect immediately this week and

I have assets I need to protect immediately this week and need help from a professional in asset protection meaning someone with training in finance, tax/international law and/or accounting. Some background first about me.My former business partner was diagnosed with borderline personality disorder. The book our therapist had us read on this disorder was titled "I Hate You Don't Leave Me". That sort of says it all. While she was brilliant, gorgeous and creative, she was also deeply troubled emotionally... bi-polar too. When I grew weary of "her way or the highway" I chose highway. She threatened to destroy our business and did. She did a brilliant forgery of my signature and sold one of our properties that would have been valued today at over 200k. The sale price for that 200k asset? 5,000 thousand dollars. She did not think twice about destroying her own net worth so that I would have nothing. She is that troubled. Fearing losing everything, I decided to walk away from our business with no assets and no debt. She moved on with the assets and debt, officially closed our old business and transferred everything to her new business. Her lies and manipulation cost me more then a year of my life and more in attorney fees then I had paid in my lifetime.For about a year after we parted ways I learned that she somehow was able to ascertain to the penny, my funds in the bank and other private information as well. As I mentioned earlier she's brilliant, also tech savvy and a hacker. I have put all the protections into place that I have been advised to do by my tech savvy friends. I hope that put an end to her prying into my affairs but I'll probably never know. She at one time had friends that worked for the state that gave her classified information, and according to my attorney, did so in violation of privacy regulations. She's a gifted manipulator and makes friends easily so she can talk people into almost anything.FAST FORWARD TO TODAY.I want to protect my assets and have a sizable check in hand, less then 100k. I need to have access to the funds immediately as I have business accounts to pay on Thursday of this week. I want to put the funds somewhere where it can make money, if possible, but also want to have it on hand as a liquid asset when needed. MOST importantly I don't want her, or her friends that work for the state, or anyone to know I have these funds. I don't want to have to spend these funds defending myself against more lies and manipulation. Now I know how much WINNING in court really costs.I talked to a friend of mine who is a VP at a local bank and we talked about TRUSTS but he suggested I speak with a tax lawyer or the like.Last thing. I don't want to deposit the sum of the funds into a checking account for fear that would be too easy for her to discover as she did once before. Is there a way to have access to at least 5k by Thursday?When contacted I can fill in more details as I'm sure recipients of my monologue will have questions. THANK YOU!POSTSCRIPT: To the Dr. Of Urology that requested to respond, please opt out as I am seeking someone with more tax law and financial expertise.

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Irwin Law

Juris Doctor JD

8,478 satisfied customers
I do not live in Florida, but have (home) property in

I do not live in Florida, but have (home) property in Florida (not homestead) that has no debt. What can I do to make my properties undesirable for creditors, as I am in business across many states. I personally own these properties.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,786 satisfied customers
Loren: An older successful professional man, worth $3 million

Loren: An older successful professional man, worth $3 million for example, decides to buy 100 acres of land for $300,000 as an investment. In 15 years he plans to cut the timber. In the meantime, it creates no income, but has expenses, like taxes and control of undergrowth. However, it subjects him to the risk of someone on the property getting injured. Perhaps it has trails where a young person with a four-wheeler could have a joy ride, hit a rock or piece of old farm equipment and be seriously injured. He could be a trespasser or a friend. It subjects the man to the risk of a worker getting injured in perhaps a chain saw accident. Someone might fall into an old well the owner knew nothing about. There are lots of possibilities of injury.If the man sets the acreage up as an LLC, thus with limited liability, will he have to also purchase liability insurance for the LLC? That is the question: If he does NOT purchase liability insurance, will the veil of protection be pierced…will his other assets of $2.7 million, be at risk, just because he did not purchase liability insurance to cover this acreage? Will his loss really be limited to the $300,000 acreage value.

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Loren

Juris Doctor

36,350 satisfied customers
My boyfriend and I have been living together 5 years.

My boyfriend and I have been living together for over 5 years. He has been married for 30 years and won't get a divorce. I own my home but of course he has his belongings here also. If he gets sick or dies before me, I'm concerned that his wife and son will be able to come into my home and take his belongings. I:m also concerned that as a "non family member", I won't have any say in his health decisions at the hospital, and may not even be able to see him.Should I be doing something to protect my assets, as well as my right to access to him?Will I be " just the girlfriend", and am I and my assets protected from his wife and adult son?Thank you!Amy PollockMedford, OR

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Olivia Kent

Managing Partner

Law

1,762 satisfied customers
If I create an LLC with the name: "RXOGroup" But

If I create an LLC with the name: "RXOGroup"But then I want to make a game company called Tornado Alley Games and a separate film company called Tornado Alley Studios, am I able to put both under the RXO Group LLC? How does that work? How do I connect Tornado Alley Studios to be under RXO Group LLC so if someone were to sue me, it sues RXO Group LLC?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,786 satisfied customers
How do I set up a trust safely? I have a situation where my

how do I set up a trust safely? I have a situation where my family's trust is going to carve off a large piece for me to do as I please and I would like to set up another trust... How do I protect the assets? From what I understand, there must be a purpose and its either "absolute and sole discretion" or a standard such as "health, education, maintenance and support". I obviously don't want the "absolute and sole discretion" because that would leave me open, correct?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,786 satisfied customers
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