[WSBAPT] < Protecting Assets via Forming "Inc." >

[Jim Doran]

Briefly: The purpose of forming a corporation is to protect personal
assets from liabilities including judgments.  However, the formation
cannot be done and assets transferred to the corporation as a mere attempt
to avoid the judgment.  That would be a fraudulent transfer and could be
set aside.  It depends upon “when” the corporation was formed and “when”
the liability was incurred.

 

James R. Doran

Attorney at Law

100 E. Pine Street – Suite 205

Bellingham, WA 98225

(360)393-9506

jim at doranlegal.com

www.doranlegal.com

 

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Victor R
Sent: Tuesday, July 1, 2014 12:41 PM
To: WSBA RPPT Probate & Trust Discussion Forum
Subject: [WSBAPT] < Protecting Assets via Forming "Inc." >

 

Members:

 

Have any of you advised protection of assets in the event of a lawsuit
judgment against them by forming a corporation?




 

-- 
                                                    
Victor Ro, Esq.
THE RO FIRM, P.S.C.
A Professional Services Corporation
5400 Carillon Point
Bldg. 5000, 4th Floor
Kirkland, WA 98033
Tel:  (206) 319-7072
Fax: (206) 319-4470

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