Can you protect yourself from counter law suits by transferring assets to family?

Question

If you were to file a personal injury suit against someone and they counter sue to scare you out of following through - could you transfer your major assets to a family member or friend so that they can't get to it?

Answer 1

You need to talk to a lawyer. Don't expect to get good legal advice on here. You get what you pay for.

Your question does not offer enough detail for any attorney to give you a competent answer. Frankly the number of details that would need to be explored can not practically be done in writing.

Answer 2

Not unless you can do it without anyone finding out. If the counter-suit is successful, he can recover from your family member. You'd be better off transferring it overseas. Try the Cayman Islands or something like that.

Although, keep in mind that just because you have no money available doesn't make the award go away. The guy can harass you for a long time and make you pay with land or in installments.

Answer 3

I believe the law in place now is any assets you have .....have to be transfer ed at least 5 years before you get sued. That law was put in place to stop unscrupulous people from doing this. Even if a person says they have no assests other then a home or land....if they loose the winner can put a lean on their property and at the time of their death the lean will be paid through the sale of whatever they have.

Answer 4

yes, but you would have to do it LONG before the suit was filed. at least 6 months in most states. also dont tell anyone you did it to avoid losing your items; it's illegal. if the court can proove you did it to do just that they can render whateer contract you used to transfer your property null and void.

Answer 5

You'd still get a major fine and be in debt.

Answer 6

Would be the basis of them counter suing ??