Legal Question in Wills and Trusts in Missouri

asset protection questions

I'm in MO.

For example if I have been sued for a civil case, after I got summon, can I do the legal asset protection by:

1. remove my name from the joint bank account with my wife?

2. sell my stocks and cars and buy a

home?

Also, I have an investment rental property shared with my wife, will that property exempt ?


Asked on 2/07/07, 11:28 am

2 Answers from Attorneys
Joseph Burcke Joseph R. Burcke, Attorney at Law

Re: asset protection questions

If you are sued in your sole capacity, the worst thing you would do is change title to assets from you and your spouse's name. Please contact me if you need help.

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Answered on 2/08/07, 2:06 pm
Anthony Smith LawSmith

Re: asset protection questions

All or any of the avenues you described may be sufficient to protect some or all of your assets from collectors. However, those are very factual determinations. You were not able to provide enough facts here to determine if any of them will work for you. You need to get with counsel that has access to more of the facts of your situation. Perhaps then they can give you clearer answers to your questions.

Good Luck

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Answered on 2/08/07, 2:09 pm


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