Protect Assets in AA suit


#1

What is the best way for paramour to protect assets in AA suit.(No suit has happened yet…and hopefully will not) For example, paramour is currently in bankruptcy, but may have some funds still available. Where can she put those funds so they can’t be touched via a lawsuit (ie - Trust Account, etc). I know that Doctor’s and other professionals do this to protect assets from lawsuits…so there must be an established way of doing this.

Lastly, if all liquid assets are somehow protected, can paramour’s wages be attached? Or can he house be taken? Note: Paramour does not live in NC.

thks!


#2

There is no way to protect assets from a judgement in this type of case. If a judgement is entered wages and real property can eventually be taken.


#3

Does jurisdiction come into play? meaning if third party lives in Arizona, than can an NC judgement actually be enforced to the degree of taking real property in Az.?


#4

I cannot speak to the law or procedure in AZ, you would need to ask an attorney licensed in that state.


#5

The research I’ve done indicates that States must enforce judgments made in other states as long as the judgments were legally arrived at.
For example, if you are married to someone via common law marriage in a state that recognizes it, then you are married if you move to a state that does not recognize common law marriage.
It is called “Full Faith and Credit” for judgments from other states.


#6

That is correct, but I do advise checking into the law and procedure in AZ.