Getting Sued Need an Attorney Referral For Asset Protection ?

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Getting Sued Need an Attorney Referral For Asset Protection ?

Mark Weinstock
Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes

Looking for some recommendation on a reasonably priced attorney in South Florida Broward County area ?

I had an auto accident about a year and a half ago that was my fault and my insurance adjuster just contacted me telling me the other driver has an attorney and is calming injures.

Time for me to talk to an attorney and see what I can do you protect my assets before a case is actually filed.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y

too late to hide assets they can claw back ... it will be obvious.. just sell them move to cash take the cash and jump on a plane to the islands open an off shore account.. ( make sure you pay UR IRS tax's ) that should work..

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  • Vincent Ngo
    Santa Ana, CA · Member since 2017 · 1 post · 0 votes
    9y
    i assume you had auto insurance when it occured. If it is the case, the insurance company will handle everything and provide an attorny if needed
    0Reply
  • Carlos Zapata
    Investor · Miami, FL · Member since 2015 · 363 posts · 143 votes
    9y

    @Mark Weinstock   i do use a good attorney to take care of my business, his name is Garret Sutton,   

    fell free to contact me if you want more info

    Good luck

    By the way,  he is the asset protection attorney for Robert Kiyosaki

    Send me a private email and i will send you his info 

    0Reply
  • Mark Weinstock
    OP
    Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes
    9y


    According to the adjuster I'm only covered to the limits of my insurance unfortunately I only had minimal coverage. He said  the company will do everything possible to support me and settle the case but should any judgment  go above the limits of my coverage I'd be responsible 

    He even said now would be the best time to consult with a few attorneys before any case is actually filed if you have any assets to protect 

    0Reply
  • Mark Weinstock
    OP
    Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes
    9y

    Its not at that point yet at this point just looking for an attorney to help me protect my assets

    0Reply
  • Ed S.
    Investor · Oskaloosa, IA · Member since 2014 · 126 posts · 65 votes
    9y
    This is a great example to have your ASSets covered first!!! Plan ahead. More than likely they will go after your max insurance coverage. Most states have "consumer friendly" annual limits on judgements. If you have limited net worth, BK Chapter 7. Then start over.
    0Reply
  • Dale T.
    Investor · Greeley, CO · Member since 2012 · 42 posts · 8 votes
    9y

    The best way to protect yourself from liability is to have an umbrella liability policy.  They are relatively cheap.  In my opinion, the coverage level should match your net worth.   Hiding your assets is NOT the way to go.  Your auto insurance likely has liability coverage that will cover you up to a certain level..  (Check with your insurance agent.)

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    too late to hide assets they can claw back ... it will be obvious.. just sell them move to cash take the cash and jump on a plane to the islands open an off shore account.. ( make sure you pay UR IRS tax's ) that should work..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    5Reply
  • David Faulkner
    Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    9y
    Originally posted by @Jay Hinrichs:

    too late to hide assets they can claw back ... it will be obvious.. just sell them move to cash take the cash and jump on a plane to the islands open an off shore account.. ( make sure you pay UR IRS tax's ) that should work..

     I hear the Cook Islands are nice this time of year :)

    0Reply
  • Wilson L.
    Fairfax, VA · Member since 2017 · 5 posts · 0 votes
    9y

    Google  "Florida Fraudulent Transfer Act" and you get this:

    "The heart of Florida's fraudulent transfer statute is found in § 726.105. This section provides that a transfer of assets made by a debtor, whether the creditor's claim arose before or after the transfer, is fraudulent if the transfer is made with an actual intent to hinder, delay or defraud creditors."

    In other words, there's not much you can do at this point since any action you take now can be undone, and you may face additional legal civil or even criminal issues if you do try to hide anything.  Next time, plan ahead for the future.  You should always have good insurance.  After all, that's what insurance is for.

    0Reply
  • Jenifer Levini
    Attorney · Santa Cruz, CA · Member since 2015 · 345 posts · 358 votes
    9y

    Call your local Bar Association to ask if they have an attorney referral service. Get the names of 3 attorneys who practice in Personal Injury defense for car accidents.Visit or call the attorneys for free consultations. Then chose the one who is most competent, has time for your matter, and is easy to communicate with.

    Do not hire the cheapest one simply because he/she is cheap. That usually ends up costing a lot more in the long run.

    3Reply
  • Rodney Miller
    Lender · Oklahoma City, OK · Member since 2017 · 138 posts · 130 votes
    9y

    I agree with the others.  The time to protect your assets via attorney is before you get into trouble, otherwise, it's seen as an attempt to defraud the system.

    0Reply
  • Connor Heim
    College Station, TX · Member since 2016 · 89 posts · 73 votes
    9y
    I'm most struck that the accident was 1.5 years ago and NOW the claim of injuries?????
    0Reply
  • Jason G.Pro Member
    Rental Property Investor · Long Island, NY · Member since 2015 · 434 posts · 495 votes
    9y

    @Connor Heim, each state has a statute of limitations in which a person can bring a personal injury lawsuit.  For instance, in New York, a person has three years from the date of loss to bring a personal injury lawsuit.  A potential plaintiff may be treating during this period of time and the accumulation of medical documentation over the period of time will strengthen their case as opposed to filing suit very soon after the incident occurred.  

    1Reply
  • Jason G.Pro Member
    Rental Property Investor · Long Island, NY · Member since 2015 · 434 posts · 495 votes
    9y

    @Mark Weinstock, I saw a recommendation on this thread of obtaining an umbrella policy.  Be aware that in order to obtain the umbrella policy they will likely require you to up the limits on your auto policy before giving you the policy.  Whether you up your underlying auto policy limits now and/or purchase an umbrella policy now, that coverage will ONLY apply to the date you upped those limits and took out the umbrella policy.  They will not cover the accident you were involved in.  So while it is something you should highly consider doing, it will not remedy the situation you are facing.  With respect to the actual personal injury lawsuit, if one is initiated, your insurance carrier should be providing you representation at no cost as part of your policy, but yes, they will only likely pay up to your policy limits and the plaintiff can come after your assets for any verdicts over the policy limits.

    0Reply
  • Derek Lacy
    Insurance Agent · Maitland, FL · Member since 2015 · 397 posts · 244 votes
    9y
    Insurer can end representation by paying the plaintiff the policy limits... good luck and yes, you need legal representation.
    0Reply
  • Rod HanksBusiness Member
    Insurance Agent · Dallas, TX · Member since 2013 · 743 posts · 462 votes
    9y
    Too Late! The house is already smoking. If it's a legitimate case they can and will claw back assets that were transferred. Purchase a good personal umbrella policy to protect yourself in the future.
    Rod Hanks Insurance4.9153 Reviews
    WebsiteView Page
    0Reply
  • Mark Weinstock
    OP
    Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes
    9y

    Thanks for all the reply's discouraging as they may be but at this point I'm just looking for a referral for an attorney that deals in these type of cases ?

    0Reply
  • Marelyn Valdes
    Investor · Ocala, FL · Member since 2016 · 299 posts · 110 votes
    9y

    Have you asked your insurance company how much the plaintiff is suing for?  They may just be trying to settle for the limit of your policy.  Do you own all your assets free and clear?  If you have minimal amounts of equity, it may not be worth suing you and trying to take the assets.

    0Reply
  • Mark Weinstock
    OP
    Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes
    9y

    It hasn't come to that point yet my adjuster contacted me just a week or so ago telling me a file was transferred to him about an accident I have last year telling him  the other side is calming injures and has an attorney.    it still can and most likely will settle for the limits but you never know considering i do own my one small rental free and clear and have a little money in the bank I'm somewhat of a target. Unfortunately I only had minimal coverage 10/20 so anything above that I could be liable for also maybe some issues with UIM and subrogation I'm hearing now 

    I was just trying to get ahead of it just in case but so far can't seem to find any attorney to help me 

    Looking for any feedback or suggestions attorney  referrals 

    0Reply
  • Chris K.
    Attorney · Nashville, TN · Member since 2015 · 1k+ posts · 1k+ votes
    9y

    @Mark Weinstock

    What's your actual net worth once you factor in all your secured debts? 

    Also, are you married? And if so, do you and your wife basically own everything together? 

    Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it as legal advice. Always consult with your attorney before you rely on the above information.

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