Return-Path: Received: from lsmls02.we.mediaone.net ([24.130.1.15]) by truman.olsusa.com (Post.Office MTA v3.5.1 release 219 ID# 0-52269U2500L250S0V35) with ESMTP id com for ; Mon, 8 Nov 1999 10:20:20 -0500 Received: from mediaone.net (we-24-30-109-161.we.mediaone.net [24.30.109.161]) by lsmls02.we.mediaone.net (8.8.7/8.8.7) with ESMTP id HAA25849; Mon, 8 Nov 1999 07:24:34 -0800 (PST) From: freemen@mediaone.net Message-ID: <3826EB2C.334BC69F@mediaone.net> Date: Mon, 08 Nov 1999 07:24:28 -0800 To: Brent Regan CC: Lancair List Subject: Re: Insurance References: <3824479E.2AF0D008@regandesigns.com> X-Mailing-List: lancair.list@olsusa.com Mime-Version: 1.0
In order to protect yourself from any kind of law suit you must become "judgment proof". If you do not own anything, then there is nothing for the "lawyers" (or the government) to take away from you in the unfortunate event of a law suit. There are several ways to own nothing but yet retain control. Corporations are one way but they are not private (your books are open to public scrutiny). Trusts are another and family partnerships may work also (both are private). All of these must be set up and managed correctly or the courts may "pierce" the protections and award those assets held by corps., trusts or family partnerships. Trusts are the way many of the "rich folks" hold their assets. I like Brent Regan offer this:
General Apology: " I am not a lawyer, I have never wanted to be a lawyer, but
from time to time life requires that I "think" like a lawyer. It is a side
of me that I am not proud of and prefer not to air in public. I am sorry you
had to see it."
Brent Sanchez
IV-P, working on hydraulics.