How do I protect myself from getting sued?

[kevin107]

Google "asset protection"

 

[Free Thinker]

Quote from gkishot:

Can it be your spouse?

your spouse is probably the greatest risk for your assets for most people.

 

[gkishot]

Not for me. She is my best friend.

 

[USAtrader]

That's what they all thought.

Quote from gkishot:

Not for me. She is my best friend.

 

[crgarcia]

Quote from Port1385:

All of my accounts are in my name. If some guy decides to file a lawsuit against me and wins then they can garnish those accounts with a court order.

How do I protect myself from lawsuits? Please be specific...

Register a company (where you own 100% of the shares), and open accounts in the name of the company.

Then the company pays you salaries, commissions, bonuses, etc.

 

[Free Thinker]

Quote from crgarcia:

Register a company (where you own 100% of the shares), and open accounts in the name of the company.

Then the company pays you salaries, commissions, bonuses, etc.

non of that matters if you are sued personally. your company would be considered part of your assets.

 

[bears21]

if you are being sued personally the only viable options i would see is that if you are married and you dont have joint debts. if you dont and they are only your debts creditors cannot put liens or levy bank accounts where you and your wife are both on the account. same would work for an llc have her as your partner on the llc. now if you both have joint debts then all bets are off because anything with your names on it can be attached in a judgement.

 

[Port1385]

One way I thought of protecting myself was getting a front-man identity. Someone who is trusted like a close brother...place the assets in their name and I have access to it through a handshake agreement. Its risky...

 

[GCSICLRBC]

Quote from Port1385:

One way I thought of protecting myself was getting a front-man identity. Someone who is trusted like a close brother...place the assets in their name and I have access to it through a handshake agreement. Its risky...

Port, for a guy who claims to have $150mm you sure don't seem too smart.

You should look into Nevada LLCs. For the right price they will veil your identity so thickly not even the government can find who owns what.

::wink::

 

[Free Thinker]

Quote from Port1385:

One way I thought of protecting myself was getting a front-man identity. Someone who is trusted like a close brother...place the assets in their name and I have access to it through a handshake agreement. Its risky...

not to mention stupid. what if he gets sued?