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Lawsuit & Asset Protection
Know What To Expect (booklet)
Protecting your assets
(cash or property) begins with the philosophy of "Do it Now."
Most people wait until an attack is launched before they take action to
protect themselves.
In most cases even the
threat of a lawsuit is adequate notice to you that any further dealings
with your assets will fall under the scrutiny of your opponent's attorney
and ultimately a judge. Therefore, you must take action now to protect
yourself before the hint of a lawsuit is mentioned.
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One of the best ways to
analyze how to protect your assets is to review the questions allowed to be
asked (and followed up on) by your opponent's attorney at a "Citation to Discover Assets"
hearing. In other word's, if you know what you will/can be asked by an
attorney to identify your possible assets, then you can take steps now to
arrange your real estate and financial assets so that your
"truthful" answers will not reveal valuable assets.
In this report, we will
assume that a judgment has already been entered against you and you are
sitting in court answering some very uncomfortable questions about your
personal and business assets. The primary purpose of this report is to
approach this subject of asset protection from the "reverse
angle" as though a judgment has already been obtained against you and
to inform you of the questions that can/will be asked of you by the
creditor's attorney.
By reviewing the
questions in this booklet, you can "anticipate" what methods of
asset protection might be most beneficial to your particular situation. You
will have a better understanding of how to "set-up" your assets
initially if you know where and how the attack will be waged. You probably
have not been in a situation where your most personal financial matters
will be questioned. However, you might as well face it, it is just a matter
of time before you might be put in this most uncomfortable position.
As you read each
question, think about how they might relate to your individual situation.
Also, think about 1. what you might do now to arrange (or rearrange) your
current assets to avoid the attachment of your assets by an undeserved
creditor. Let me re-emphasize our intent here. We are NOT suggesting that
you avoid your true financial responsibilities in life. What we are helping
you do is protect your hard earned assets from attack by an undeserving
parasitical member of society.
Additional note:
If you get a judgment
against another, if you're given the opportunity to ask the debtor
questions in court, asking questions below can help "you"
discover assets that can possibly be attached to recover payment due you!
This powerful report thus offers a valuable secondary benefit.
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Partial
list: Questions that can be asked by your opponent's attorney
- Are
you a beneficiary under any trust or last will?
- Are
you entitled to any refund for Federal or State income taxes paid?
- Do
you have access to any other safe deposit box?
- Do
you or your spouse have any type of bank, checking or savings
account?
- Do
you or your spouse own any real estate or have any interest in real
estate?
- Do
you own any interests in real estate trusts or mortgages?
- Does
anyone hold any property or money in trust for you?
- Haveyou
closed any bank account since the summons in this action was served
on you?
- Have
you any property in pawn?
- Have
you one or more safe deposit boxes?
- If
employed give your employer's name, address and phone number
- What
are your major credit cards and what is the remaining cash advance
balance on each?
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