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Old 10-25-2013, 06:14 AM   #15
6mm
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Well as the OP of this question I do have a Self Trusted Irrevocable Living Trust and will stick with that and not put it in my sons name.
Thanks for your replies and any other ideas are always welcome to help with this issue.
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Old 10-25-2013, 01:42 PM   #16
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Originally Posted by t55watson View Post
Problem with that is...if, God forbid, you have an injury accident the persons you injury can also sue your Son as he is on the title. All of our vehicles are in one name, mine or DW. They, lawyers, can't attach house or other property, investments, as they are co-owned.
Are you sure about that???? I would think that if you are sued and the injuried parties attorney finds any assets that has your name attached to it can pull that (at least your share) asset into any settlement... INAL, just thinking out loud here.
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Old 10-25-2013, 06:30 PM   #17
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Are you sure about that???? I would think that if you are sued and the injuried parties attorney finds any assets that has your name attached to it can pull that (at least your share) asset into any settlement... INAL, just thinking out loud here.
I think you're right.
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Old 10-25-2013, 06:39 PM   #18
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Are you sure about that???? I would think that if you are sued and the injuried parties attorney finds any assets that has your name attached to it can pull that (at least your share) asset into any settlement... INAL, just thinking out loud here.
"Umbrella liability policy" is usually quite inexpensive way to CYA (cover your assets).
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