Good By

"sfb" wrote in news:QCCNf.32774$%v4.19984@trnddc03:

Sounds like a great plan until somebody gets a judgment against your
future earnings so all those toys you now have protected in trust
might be all you ever have.

"Denny" wrote in message
oups.com...
Getting through life is a series of compromises... And sometimes the
concious mind has to put up a straw man to justify what the
subconcious
has decided to do...

First off, Roger doesn't need a million dollars of smooth coverage as
a
rider on his home insurance to safely fly... This is the straw man
his
concious mind has put up... Since he knew ahead of time that he can't
get a million dollars of smooth coverage he now has an excuse to
gracefully withdraw from the field of combat... Let him go and wish
him well... You can check in on him at rec.boats.cruising...

For those who may be concerned, "Gee, do I need a million dollar
rider on my home insurance to protect my assets?", let me suggest
that you spend a couple hundred dollars on a lawyer to draw up a
family limited trust and put your house(s) and property(s) in trusts
hint, hint, Jay... That protects them from being seized, in
perpetuity, to pay off
any judgement against you... You need to also create separate trusts
for each boat, car, timeshare, business, and plane, that walls each
item off from being attached due to a judgement against another
item...
i.e. crash the car into a school bus and they can't take the plane or
your business...

cheers ... denny




You dont even need that in many states, check your states judgement and
bankrupcy laws before you get to excited....

--
-- ET :-)

"A common mistake people make when trying to design something
completely foolproof is to underestimate the ingenuity of complete
fools."---- Douglas Adams