Fraudulent Transfer and Small Business Law

This blog today is timely because many business owners will or have faced economic difficulties with their businesses. A fraudulent transfer is a transfer, which is made designed to hinder, delay, or defraud a creditor. Typically, an alleged fraudulent transfer occurs prior to a filing of bankruptcy or when one's business is failing. In today's example, the lesson is important because asset protection prior to a lawsuit or financial distress is the best time to approach asset protection. If one approaches asset protection prior to a lawsuit, one may face a fraud and fraudulent transfer claim. This is a bigger lawsuit because a fraud claim involves punitive damages and reasonable attorney's fees. Thus, a claim becomes much bigger than originally planned.

In today's economy, I speak with many business owners who simply failed to understand or appreciate why corporate structure and asset protection are important. Asset protection is crucial because it provides you and your family a safety net from bankruptcy and financial problems. This last statement does not convey the true meaning of asset protection because it literally is the difference between a miserable life and a better life. If your family is looking for bright outlook out of your economic mess, asset protection by you time and protect you and your family from severe difficult economic times. One believes that things are tough until you are faced with a judgment or lawsuit, which threatens your bank accounts, your home, and your livlihood for the next twenty or more years. Bankruptcy is not always the answer especially if you are over the age of fifty years old.

Sean Robertson helps entrepreneurs and business owners understand the consequences of lawsuits and how to be prepared for the unexpected. If you are a small to medium sized business owner, a lawsuit or multiple lawsuits will come. The question will you and your family be prepared for the consequences of such a lawsuit(s). Lawsuits seem to come according to Murphy's law at the worst possible time.

Sean Robertson is an asset protection and corporate attorney that counsels small to medium sized business owners on the perils of lack of corporate structure and provides assest protection for business owners. Sean Robertson may be reached at (312) 498-6080.