not registered, but my understanding is that moving assets to trusts and not having any insurance is a great way to minimize lawsuits, since there is no possibility if collecting.
doesn't work if you do it the day before a lawsuit is filed, but if you're set up right the aggrieved have little to gain
A veil is essential and the penetration part is real, but only to the extent to apply pressure to get you to settle….extremely hard to penetrate unless you’re mezzanine collapses.
Agree with Shu, hide the assets, they just won’t chase you if nothing is there, and it’s the chase that will break you….not just in money, but in time & reputation….hide the money & kill the chase.
It does not cost a great deal to hide assets, and if you don't have much there is more reason to protect it.
This is all very interesting, but be aware that courts are generally not stupid. No, really!! The law recognizes something called a fraudulent conveyance. If you lie about the existence of assets or try to conceal them in transactions that obviously have no legitimate business purpose, they may catch up to you, in which case the courts may be unforgiving.
Geezer.... moving/hiding things too close to an event is a problem with courts, but if done way ahead of a litigious event is perfectly legal... also someone mentioned that insurance was a bad place to hide assets... it's not,.. unlike banks insurance companies and policies are largely invisible.
Ive seen Clients who are so un-reasonable they almost want a permit drawing for 10$ an hour.
But this is because of some our professionals who accept the bargain. If we let these clients bargain us down and accept their cheap price, then we are just destroying the profession. If Architects designers and engineers submit to what these un-reasonable clients
want then we might as well find another job. Some design company even sells full set of commercial drawing for 700$.
Cheap Clients and Permit Drawings
We have the best justice system money can buy. Thus your legal "protection" is only as deep as your pocket.
The term Pyrrhic victory often applies here.
not registered, but my understanding is that moving assets to trusts and not having any insurance is a great way to minimize lawsuits, since there is no possibility if collecting.
doesn't work if you do it the day before a lawsuit is filed, but if you're set up right the aggrieved have little to gain
forgot to add this costs money to set up so you need to have some significant assets for it to be worthwhile
Three points:
This is all very interesting, but be aware that courts are generally not stupid. No, really!! The law recognizes something called a fraudulent conveyance. If you lie about the existence of assets or try to conceal them in transactions that obviously have no legitimate business purpose, they may catch up to you, in which case the courts may be unforgiving.
Geezer.... moving/hiding things too close to an event is a problem with courts, but if done way ahead of a litigious event is perfectly legal... also someone mentioned that insurance was a bad place to hide assets... it's not,.. unlike banks insurance companies and policies are largely invisible.
Ive seen Clients who are so un-reasonable they almost want a permit drawing for 10$ an hour. But this is because of some our professionals who accept the bargain. If we let these clients bargain us down and accept their cheap price, then we are just destroying the profession. If Architects designers and engineers submit to what these un-reasonable clients want then we might as well find another job. Some design company even sells full set of commercial drawing for 700$.
I’m looking for a commercial coding architect locally in Maryland
what's a commercial coding architect?
Maybe, or it could be a Nigerian prince trying to relocate and spend some cash on architect services.
Are Nigerian princes really that dumb?
They keep looking to give us millions of dollars so I'd guess yes, very dumb.
Is there even a royal family in Nigeria?
Who else would have all that money in need of transfer?
Not sure if posting in a thread about cheap clients is your best starting point.
I'll stamp your computer program for $1000. Send it over.
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