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dlm34077



Joined: 10 Feb 2007
Posts: 115
Location: AZ

PostPosted: Tue Oct 20, 2015 12:47 pm    Post subject: lawsuit Reply with quote

Some may not be aware:

Some states have laws on the books as an attorney and doctor preservation societies; they are called family limited partnership laws. Since laws can not be written to exclude the rest of us, you might examine whether your state has family limited partnership laws which you can use.

Partnership can be setup with unique tax ID; the basic provisions are that the partnership is established for 98 years. The partnership can be sued and judgments can occur; however the judgment is in the form of a charging order at a monthly rate which has two important provisions. Judgment is not due until the partnership terminates and assets remain; meanwhile the IRS has determined that the accrued charging order is taxable income in the year accrued. Hence the plaintiff and lawyer may receive compensation up to 98 years in the future (if the heirs have not spent it all) and they have enjoyed paying current year taxes on all accrued income. Note IRAs etc. are not subject to judgment anyway. Bank accounts must be established for the tax ID and other assets (i.e. real estate etc) must be titled to the partnership. Assets which are titled to a trust or individual name must documented lien to the partnership. The general partners have full authority to use partnership assets as required.

I am not an attorney so I do not know whether these laws can protect RV10 owner’s assets in other states.

General Partner,
Trustee,
And individual

“know when to sign which title”

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dlm34077



Joined: 10 Feb 2007
Posts: 115
Location: AZ

PostPosted: Mon Oct 26, 2015 7:23 am    Post subject: lawsuit Reply with quote

I hear much weeping and wailing about the lawsuit against Vans; I am sorry they are entangled with the legal system here in the USA which always looks for someone else to blame; preferably someone who has some assets. Builders who have significant personal assets should investigate the partnership laws of their respective states. The partnership laws are usually set up to be a physician/attorney protection arrangement. If they, in court, are able to breach those laws they commit financial hari kari by overriding the laws on the books to protect their financial assets. Partnership laws usually provide that partnerships can be sued but any payout may come sometime in the future (well outside the lifetime of the plaintiff/attorney) and any accrued payout is taxable income in the year accrued. Precedents count.

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moosix
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PostPosted: Wed May 08, 2019 4:57 am    Post subject: Re: lawsuit Reply with quote

Hello! Please advise a lawyer in Ukraine to help in family reunification. We are from Canada, we have close relatives in Ukraine. I found a list of lawyers on one of the Ukrainian sites http://legals.in.ua/top/ but unfortunately not fluent in Russian (Ukrainian) language. Can someone help me to understand that rating, so I could choose the worthy lawyer who will for sure help me to solve my problem?

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gengrumpy



Joined: 07 May 2013
Posts: 131
Location: Tullahoma, TN

PostPosted: Wed May 08, 2019 5:55 pm    Post subject: lawsuit Reply with quote

Sorry, cannot help with this one.

Quote:
On May 8, 2019, at 7:57 AM, moosix <gecudet(at)mail-list.top> wrote:



Hello! Please advise a lawyer in Ukraine to help in family reunification. We are from Canada, we have close relatives in Ukraine. I found a list of lawyers on one of the Ukrainian sites http://legals.in.ua/top/ but unfortunately not fluent in Russian (Ukrainian) language. Can someone help me to understand that rating, so I could choose the worthy lawyer who will for sure help me to solve my problem?




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