I am Michael Anderson, an Attorney in the Salt Lake area focusing on the needs of the Average Joe wanting a better life for him and his family. People who want results navigating a complex legal field go to a Lawyer that they can trust. People who want a lot of Bull go to a Butcher. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. It’s not a matter of if, it’s a matter of when. Free Initial Consultation with an Asset Protection Lawyer It is simply saying that those who have the philosophy “I’m not going down without a fight,” put the odds in their favor over those who easily cave in. It is not encouraging you to participate in this practice. So, this seemingly obstinate dialogue intends to give an editorial angle on the subject. That is, set up an asset protection plan before you need it. It is much better for you prepare for the near inevitable. This is not to say that you should engage in fraudulent conveyance. A pride of lions most often eat the weakest members of the herd. So, why let yourself be easy prey? Why not be the one that puts up the biggest fight? Fraudulent Conveyance Vs. One that is built intentionally to make it unlikely for him to win. Even if he does, he will find himself in an obstacle course. This leaves your opponent a very expensive and time-consuming option: To file a lawsuit offshore. You simply do not have the ability to act firsthand. That is because you are not refusing to comply. If it is, a judge would be hard-pressed to find you in contempt. The key is to make sure your trust is properly established. You asked the trustee to bring back the funds. You have done your part in doing what the judge has ordered. They will invoke the duress clause and refuse to comply. If you make that request against your will, your trustee will support your true desires. The judge may tell you to ask the trustee to send trust funds to your legal opponent. The reason is that your local courts do not have jurisdiction in his country. For example, offshore asset protection trusts take the assets outside of the local court’s jurisdiction. So even if your opponent jumps up and down and screams “fraudulent transfer,” your offshore trustee can lace his hands behind his head, lean back in his chair and look out at the palm trees wafting in the sea breeze. There are a few strategies that you can employ late in the game. If you can put up a fight, why not do it? Strategies They think that there is not a whole lot they can do to move assets protect them. Some people think that you find yourself dealing with a creditor, it’s over. There are ways to protect yourself after the fact.įraudulent conveyance is also known as fraudulent transfer. However, if it is too late and you have not yet done so, don’t worry. So, prepare for a lawsuit before it strikes if you can. Whereas it is ideal put an asset protection plan into place before trouble arises, in reality, many people do not realize the need until it is too late.
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