Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 41

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 50

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 52

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 54

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 55

Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 41

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 50

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 52

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 54

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /homepages/2/d279137232/htdocs/ml/mahanylaw/wp-includes/functions.php on line 55

Court Puts Lawyers Who Help Debtors With Post Claim Asset Protection At Risk

by Brian Mahany

It’s no secret that most people who seek asset protection do so after they are facing a claim.  So many clients come to us after they have been sued or receive a threatening letter from a lawyer.  There isn’t much we can do and a now a recent decision from a federal judge in Illinois suggests we might not be able to do anything.

Until now, the biggest risk of post claim asset protection was that the plan simply wouldn’t work.  Courts think that people who try to move assets or shelter income after they are in trouble are deadbeats.  At least one court has said that lawyers that assist debtors with post claim asset protection may face civil racketeering charges.

In the recent Illinois case, the court said that Illinois attorney Frederick Cuppy helped his client transfer assets after the client knew he was facing potential healthcare fraud charges. The court allowed charges to go forward against both the debtor and the lawyer. The case isn’t over and how Cuppy and his client will ultimately fair is unknown.

The facts in Cuppy suggest that the attorney not only helped his client transfer assets into a trust but also ignored subpoenas. Does this mean that every client with potential claims against him isn’t entitled to representation? Of course not. But the case does suggest that lawyers will be reluctant to help with any type of asset protection short of a bankruptcy .

The lesson here is one we have been saying for years. The best time to implement a meaningful asset protection plan is before you are in trouble. For many law firms, ours included, the things we can do for you post claim are now more limited.

If you are in a high litigation risk occupation or have significant wealth, consider an asset protection plan before you are sued. There are many fraudsters and shady people that thrive on the wealthy or make a living by suing people. Don’t give an inch of ground  - call an experienced asset protection lawyer before its too late.

MahanyLaw is a boutique law firm with offices in New England and Milwaukee.  We can help you protect your hard earned wealth from frivolous lawsuits and protect your legacy for future generations or your own retirement.  For a no obligation, confidential consultation, contact attorney Brian Mahany at (414) 704-6731 or by email at brian@mahanylaw.com

Mahany Law - Advisors to the Highly Successful.

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