Q: My husband was in an accident a few weeks ago. He was in the wrong but did not get a ticket
Ins is working on settling but so far he is not accepting. If he decides to sue us, we are worried about some money my husband just inherited. Is there a way to avoid them getting it by putting it in someone elses account?
A:
First, you and your husband can hire a family law attorney to draft a post nuptial agreement, including cars.
Second, that post nuptial gets filed with the Clerk of Court and the Mortgages & Conveyances Office and is effective against 3d parties.
Third, he can donate the money to you.
Fourth, the same attorney can draft a pocket agreement between you and your husband, which is signed in triplicate, notarized and witnessed and each of you which stipulates that the property is returned to you not later than 7 years. The attorney keeps the 3d copy.
Fifth, when the accident litigation is resolved, the inheritance is returned to your husband.
A: This is a plan to use if the judgment is going to exceed your insurance coverage and if the plaintiff's attorney is smart enough to find out how much your husband is worth. However, if you wait until the accident litigation has started, it could be too late because a donation can be rescinded if it was to avoid a judgment against your husband. So it is either do it now or it's too late
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