ARE YOU HOLDING YOUR REAL ESTATE THE RIGHT WAY? GARRETT SUTTON
Of course not. The attorney wants no part of this colossal hassle. So maybe they settle for any insurance
monies. And if there is no insurance money to go after, maybe they don’t even bring the case in the first place.
Sure, they can win the first battle easily. But if you can’t win the second battle of collecting why even bother?
There are too many other, more profitable cases to pursue.
The attorney’s attitude changes a bit if we are in a weak LLC state like Georgia, California, New York and others.
In certain weak states the courts allow judicial foreclosure. Knowing this, there is a way for the Wyoming
charging order to apply. We have the weak state LLC owned by the Wyoming LLC.
In this way the attacking judgment creditor must go to Wyoming and hire an attorney to go to court and get a
charging order. The distance and trouble of fighting the case in Wyoming only to get a charging order allowing
for distributions (which may never come) may discourage a contingency fee attorney.
This article is excerpted from Loopholes of Real Estate. More asset prote ction information for your real estate is
found in this book.
Author: Garrett Sutton
Garrett Sutton is an attorney, speaker and best selling author. As part of Robert Kiyosaki’s Rich
Dad’s Advisor group he has written six books which have been translated into 11 languages.
Garrett focuses on corporate and asset protection law and speaks to audiences on the
importance of asset protection. His advice is pertinent, timely and valuable.
Garrett received his Juris Doctor Law Degree in 1978 from Hastings College of the Law, the
University of California’s law school in San Francisco. He received a B.S. in Business
Administration from the University of California, Berkeley, in 1975. He is licensed to practice in
Nevada and California.
Website: http://www.corporatedirect.com/