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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Timing is an important element in protecting your assets. Posted by Ward-CA- on June 12, 2002 at 9:17 PM In Reply to: LLC in California posted by Rob on June 12, 2002 at 7:05 PM : : If I have been served, and I transferred my properties to a LLC for estate purposes. Can I do this? Would this protect me from the suit? : Is there a better way? : Rob =•=•=•=•=•=•=•=•=•=•= Rob, the timing of the transfer of your properties out of your name is the element that would make it relatively easy for an adversarial attorney to contest. And it wouldn’t make much difference what the nature of transferee entity was—whether it was a corporation, LLC, limited partnership or a title holding trust. Sequestering your assets for the purpose of denying your creditor (or soon-to-be creditor) a means of satisfying a lawful judgment against you, won’t be permitted by the court. Such a transfer would be deemed motivated by fraudulent intent and overturned. Protective measures taken to safeguard your assets from seizure are OK, as long as such steps are taken long before any potential liability has arisen between you and your adversary. So, if a year ago, you had transferred your properties into some other entity, well before your present troubles even started, then no one could claim that your motivation was intentionally designed to frustrate someone who you were oblivious of at the time. Hope this helps. Follow Ups: Re: Timing is an important element in protecting your assets. Jason 8:02 PM, 06/14/02 (0) Re: Timing is an important element in protecting your assets. Rob 3:47 PM, 06/13/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : : If I have been served, and I transferred my properties to a LLC for estate purposes. Can I do this? Would this protect me from the suit? : : Is there a better way? : : Rob : =•=•=•=•=•=•=•=•=•=•= : Rob, the timing of the transfer of your properties out of your name is the element that would make it relatively easy for an adversarial attorney to contest. And it wouldn’t make much difference what the nature of transferee entity was—whether it was a corporation, LLC, limited partnership or a title holding trust. : Sequestering your assets for the purpose of denying your creditor (or soon-to-be creditor) a means of satisfying a lawful judgment against you, won’t be permitted by the court. Such a transfer would be deemed motivated by fraudulent intent and overturned. : Protective measures taken to safeguard your assets from seizure are OK, as long as such steps are taken long before any potential liability has arisen between you and your adversary. : So, if a year ago, you had transferred your properties into some other entity, well before your present troubles even started, then no one could claim that your motivation was intentionally designed to frustrate someone who you were oblivious of at the time. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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