what assets can an attorney go after

Do I need an estate lawyer to protect my assets?

An attorney can use such a search to find unreported assets, hidden businesses or entities that are holding assets, and other sources of income. Such searches can help an attorney create stronger requests and subpoenas.

What assets can be taken in a lawsuit?

Asset Protection Planners has in-house attorneys who can help you. An asset protection attorney can be your experienced guide through the daunting process of setting up a asset protection plan to secure your wealth. Fortunately, you don’t have to go through it alone. There are legal professionals in-house who you can call right now to help you create your plan.

What kind of assets can creditors take from you?

Properties a creditor can seize include tangible assets, such as vehicles, houses, stocks, and company shares. They can also include future assets a debtor expects to receive such as commissions, insurance payouts, and royalties. The attorney questioning you will very likely discover these assets. Conclusion

What does an asset protection attorney do?

Feb 11, 2022 · The defendant can employ asset protection tools to increase protection and then send in the affidavit. There are ways to legally protect assets even after being at fault for a car accident. The at-fault driver’s best course is to review his asset protection status, fix any issues, and then perhaps submit a financial affidavit.

What assets are protected from lawsuits?

Assets in a domestic asset protection trust may include cash, stock, LLCs, business property and real estate. Keep in mind that the trust may be forced to pay obligations like child support, alimony and taxes.Oct 21, 2021

What are the easiest things to sue for?

The law must support your contention that you were harmed by the illegal actions of another.Bad Debt. A type of contract case. ... Breach of Contract. ... Breach of Warranty. ... Failure to Return a Security Deposit. ... Libel or Slander (Defamation). ... Nuisance. ... Personal Injury. ... Product Liability.More items...

What can you sue someone for?

What Are the Most Common Reasons To Sue Someone?Compensation for Damages. A common form of this is monetary compensation for personal injury. ... Enforcing a Contract. Contracts can be written, oral or implied. ... Breach of Warranty. ... Product Liability. ... Property Disputes. ... Divorce. ... Custody Disputes. ... Replacing a Trustee.More items...

How do lawyers check assets?

An asset search is a powerful tool. Attorneys can use such a search to find hidden documents. Unlike a public record search, an asset search finds information that is not always available to the public. Such a can find a business or individual's personal property or real estate.Dec 22, 2015

Can I sue someone for emotional distress?

You can claim for the emotional distress the discrimination has caused you - this is called 'injury to feelings'. You'll need to say how the discrimination made you feel. Ask your family, friends, colleagues, medical professionals or support workers if they'll be witnesses to how the discrimination affected you.Jan 28, 2019

Should you tell someone you're suing them?

Usually, the defendant knows about the case a long time before it starts. Hopefully you talked to the defendant and tried to settle the case before you filed. But, now that you filed the lawsuit, you have to let the defendant know formally that you are suing. This is called "service".

What's the lowest amount you can sue for?

As far as the minimum amount you can actually sue someone for, there is no limit. Legally, you can sue someone for any amount in court. The only criteria which has to be met, is that there is a valid cause of action. This refers to issues such as an unpaid debt.Aug 14, 2017

How do I sue someone for harassment?

If you are intentionally harassed and suffer extreme emotional distress, you may be able to bring a claim for intentional infliction of emotional distress under state law. If you just want the harassment to stop, you may be able to petition a state court for a harassment restraining order or an order for protection.Nov 22, 2021

What is a Class A action lawsuit?

When a group of people who have been injured in a similar manner file a single lawsuit to seek compensation as a group, this is known as a “class action lawsuit.” You may also hear these types of cases referred to as “multi-district litigation” or “mass tort litigation.” Often, these cases are filed against ...

How do you run an asset check?

0:252:44How to do an asset search yourself - YouTubeYouTubeStart of suggested clipEnd of suggested clipInformation on your debtor or on the subject. You know identification of the name the address. MaybeMoreInformation on your debtor or on the subject. You know identification of the name the address. Maybe some ID information driver's license whatever it is some prior addresses.

Why is it important to determine a defendant's assets early in a case?

Plaintiffs will want to know whether the defendant has the means to pay off a judgment before going to trial. Additionally, plaintiffs will want to know about the defendant's assets if they have received a judgment against the defendant.

How do you asset A Judgement proof?

You are considered “judgment proof” if you do not make much income. You also most likely do not have much money in the bank, or assets that a creditor would be able to take from you to pay off your judgment.Feb 10, 2021

Why do attorneys do asset searches?

Asset searches are handy for the discovery process. An attorney can use such a search to find unreported assets, hidden businesses or entities that are holding assets, and other sources of income. Such searches can help an attorney create stronger requests and subpoenas.

What is asset search?

An asset search is a powerful tool. Attorneys can use such a search to find hidden documents. Unlike a public record search, an asset search finds information that is not always available to the public. Such a can find a business or individual's personal property or real estate. It also can yield the status of such assets, for example, if there are any judgments or liens on those assets.

When do you consult an attorney?

This means you must do everything in your power to make sure you’re well informed. Business owners often consult attorneys before beginning new businesses, adding partners, hiring a high-profile employee, or negotiating a merger. The attorney's job is to examine the other entity's health and potential; an asset search can help a client make the best decision.

Do you have to pay child support after divorce?

Many divorcing couples must figure out how to handle child support. Under federal and state laws, parents are required to support their children financially, even after a divorce. The court will determine a child support amount, and the noncustodial parent must pay it until the child reaches a certain age.

Why is asset search important?

When a client has severe injuries and not enough insurance coverage, an asset search might help you find other potential sources for help. As with business due diligence, it's your responsibility to give your client the best legal advice possible. Your client expects you to help finding compensation for injuries, and an asset search can be the key to opening those avenues.

What is asset protection?

The goal of asset protection is to protect wealth, property, and other assets from creditor claims. Asset protection strategies are used both by individuals and companies. They help limit creditor access to valuable assets and properties in a legal fashion.

Can you get sued for asset protection?

Asset protection planning might seem like something only for the super wealthy. Elder Law explains that anyone can get sued. Lawsuits can come from a variety of places, including car accidents, credit card debt, foreclosures, unhappy customers, and more.

What is the lowest tier of asset protection?

To get a better idea of how to decide what to do, the lowest tier of asset protection may include buying a homeowners or auto insurance policy. Altering the deductible and coverage level helps you create the right coverage for your personal or business property. Moving up in the asset protection continuum could include setting up a limited liability company (LLC) or corporation. An LLC may provide protection for rental property or other real estate. A corporation can own your business. The protection of an LLC or corporation comes from protecting your identity, separating you from your asset in the eyes of the creditor. Plus, it could be a good idea at this level to set up a life insurance trust to protect the cash value of your life insurance policy. A powerful strategy further up on the continuum often includes creating an asset protection trust.

Can a corporation own a business?

A corporation can own your business. The protection of an LLC or corporation comes from protecting your identity, separating you from your asset in the eyes of the creditor. Plus, it could be a good idea at this level to set up a life insurance trust to protect the cash value of your life insurance policy.

Is there a one size fits all asset protection plan?

A final thing to note with asset protection and your attorney is that there is no “one size fits all” plan. Asset protection operates on a continuum, varying in complexity and coverage based on the individual or company’s need. Like any profession, with attorneys, There are good and bad ones.

What is the purpose of a judgment creditor?

The creditor must take action to satisfy or discharge the debt. That is why it is important for you to know what assets can be seized by a judgment creditor. You should inform yourself about asset protection strategies that you can use to make asset forfeiture very unlikely. Judgment in hand, a creditor has a number of options that they can pursue.

Can a creditor collect on a debt?

It can sometimes happen that a creditor wins a judgment against a debtor in court. But then the debtor claims he or she does not have the means (usually cash) to satisfy the debt outright. In this case, a creditor has the option of attaching a claim on the debtor’s assets. This is one of the first steps in their effort to collect on the debt.

What is asset discovery?

One of the most commonly explored avenues of asset or property discovery is the judgment debtor’s examination. In this proceeding, the onus of unearthing assets or properties that can be seized falls on the creditor. It is important for a debtor to understand that assets or properties can mean more than physical property ...

What is debtor examination?

The judgment debtor examination generally yields a trove of assets and properties to which a creditor is entitled.

What does "property" mean in court?

But property, especially in court cases, can also mean a person’s salary. It includes deposit accounts, stocks and bonds, IRA accounts and other similar types of assets.

What to do if you have a lawsuit against you?

You’ll likely realize you stand to lose more than you first thought. That is, you actually have assets that can be attached to a judgement. Perhaps then, if you have not done so, you will take action on protecting your assets.

What professions are at risk of lawsuits?

These include careers such as medicine (think malpractice suits) or even financial planning (“wrong” investment advice). However, it is beginning to seem lately that almost any profession can be considered high risk for abusive lawsuits. If you’re working in this type of field, or even if you’re not, you likely just want to make sure the assets you have worked so hard for do not fall into the clutches of predatory litigants. So, you should consider an asset protection strategy.

How to file a personal injury claim?

In summary, an at-fault driver or car owner should take the following steps if they anticipate personal legal liability from a car accident: 1 Discuss with the insurance carrier whether the damages are likely to be within insurance policy limits. 2 Determine which assets are protected from collection should the injured person file a lawsuit. 3 Implement a plan to better protect vulnerable assets. 4 Submit a financial affidavit that demonstrates that the collection of a money judgment would be difficult.

How long does it take to sue someone for a car accident?

An injured person has four years after a car accident to sue the at-fault driver or the owner of the at-fault driver’s vehicle. The four year timeline stems from Section 95.11 of Florida law, which lists the statute of limitations for personal injury in a car accident.

Can a judgment be taken from a car accident?

Florida law provides a judgment creditor various tools to collect a personal money judgment from a car accident. For example, the creditor may examine nearly all the debtor’s financial documents, including bank records, tax returns, and wage statements. In addition, the judgment creditor can take the debtor’s deposition under oath and inquire detailed information about the debtor’s assets and financial history.

Does Florida have a wage garnishment?

Wage garnishments remain in effect continually during the debtor’s employment or until the debt is paid. Florida law provides debtors defenses to these creditor collection tools. Debtors who qualify as head of family (also called head of household) under Florida law are usually exempt from wage garnishment.

Can you sue someone for a car accident in Florida?

In Florida, the amount that someone can sue for as a result of the car accident is however much the injured person has been damaged. Damages in a car accident context includes the person’s medical bills, pain and suffering, and ongoing damage for loss of functioning. It does not matter if the injured person has medical insurance to pay ...

Can you sue the at fault driver in Florida?

In Florida, a person injured in a car accident is entitled to sue the at-fault driver and the owner of the at-fault driver’s vehicle personally. Even if the at-fault driver has insurance, the injured person can still file a lawsuit for the amount of their damages against both the at-fault driver and the vehicle owner.

What is financial affidavit?

Financial Affidavit. Soon after a car accident, an insurance company may request that an insured defendant fill out a financial affidavit. The request for a financial statement is usually made by the plaintiff or his insurance company. The plaintiff and insurance company want to know about the defendant’s assets in order to decide ...

How do nursing homes abuse their residents?

Some common examples of nursing home financial abuse can include: 1 Cashing a senior’s checks without authorization or permission 2 Forging checks in the victim’s name 3 Stealing their money or possessions and selling them for profit 4 Coercing a senior resident into giving them money, signing a contract, or even signing over a financial power of attorney 5 Abusing a power of attorney already in place

What is the risk of nursing homes?

The Unspoken Risk for Assets – Financial Abuse in Nursing Homes. While you might not lose your assets to a nursing home as a method for payment, there is one common type of abuse going on in nursing homes today that do put an individual’s assets and income at risk: financial abuse.

How much does a nursing home cost?

The cost, however, is extravagant. Most nursing homes can cost a family $50,000 to over $100,000 per year – depending on the state and ...

Is nursing home care expensive?

The cost of nursing home care is expensive, and it can quickly drain any savings you have. One fear, however, is that you may lose the assets you have built over your lifetime – putting everyone in your family at risk. It is a common misconception that the nursing home itself seizes your assets. In reality, it is Medicaid ...

What do people think of nursing home abuse?

When people think of nursing home abuse, they think about physical abuse, neglect, or even emotional trauma. However, financial abuse is just as prominent and often goes undetected. By the time family members realize their loved one is a victim, they can lose their savings, investments, and precious assets.

How common is elder abuse?

Elder abuse is shockingly common in the United States, with one in ten seniors reporting abuse of some type. However, financial abuse and exploitation are the most common types of elder abuse, accounting for between 12 and 35 percent of all reports.

Can you use Medicaid to pay for nursing home care?

In reality, it is Medicaid that would look to your assets to pay for any nursing home care you need before allowing you to use Medicaid’s benefits as payment. Contact Gladstein Law Firm, PLLC. online or by calling 502-791-9000.

Qualifying for Medi-Cal

Medi-Cal is the name of California’s Medicaid program. Your assets could be at risk both while you are alive and after you are gone if you ever need to rely on Medi-Cal – and there is a very good chance you will turn to Medi-Cal at some point during your retirement years.

What Is the Medi-Cal Estate Recovery Program?

Unfortunately, even if you manage to get your Medi-Cal application approved, the potential threat to your assets is not completely past. Medi-Cal gets another crack at your assets after you are gone through the MERP program.

Contact our Medi-Cal Asset Protection Team

Please download our FREE estate planning checklist. If you have additional questions or concerns regarding protecting your assets from Medi-Cal, contact the Medi-Cal asset protection team at the Northern California Center for Estate Planning & Elder Law today by calling (916)-437-3500 or by filling out our online contact form.

Roy Wayne Litherland

First, we need some clarification. Many people receive MEDICARE, but a persons assets and income are irrelevant for qualifying for MEDICARE. And there is no recovery for benefits receive through the MEDICARE system. So if your parent (s) are only receiving MEDICARE, there are no issues or concerns...

Daniel Kenneth Printz

Assets that are in her estate, including in a revocable living trust, or are transferred out of her estate or to an irrevocable living trust during a limited window prior to her death, will be reachable by the government for medi-cal reimbursement.#N#As far as ownership of assets for qualification for benefits, there are strict rules...