have been sued . .what to do with my money!

[2MD]

What is the name of your state (only U.S. law)? pa

Ok, i wasn't sure where to post this question .. hope someone here can answer or tell me where to repost it.

I have been sued and i have some money in the bank under my name as well as some money is a sepearte "kiddy" account for my underage son .. since he is underage, of course, he can not have his own account and therefore my name is on the account ..

If i was to lose in court, they can come after my money (and i have to be ok with that), but can they also come after my son's money (this money was mostly given to him by grand parents)?

If no, what would stop me from transferring my money to his account so that i would become worthless?

Thanks.

 

[cyjeff]

I would think the threat of a criminal charge of fraud.

 

[Antigone*]

What is the name of your state (only U.S. law)? pa

Ok, i wasn't sure where to post this question .. hope someone here can answer or tell me where to repost it.

I have been sued and i have some money in the bank under my name as well as some money is a sepearte "kiddy" account for my underage son .. since he is underage, of course, he can not have his own account and therefore my name is on the account ..

If i was to lose in court, they can come after my money (and i have to be ok with that), but can they also come after my son's money (this money was mostly given to him by grand parents)?

If no, what would stop me from transferring my money to his account so that i would become worthless?

Thanks.

If a judgement is rendered against you, the plaintiff can request records going back some time to see if you have transferred assets ~ that is a definite no no!!

You are better off taking the high road and work the plaintiff and their attorney's to negotiate a payment plan. It will be to your benefit.

 

[2MD]

ok, my money will stay where it is and they can take it .. but the question was, can they take my son's money which record shows it was there long before the suit.

Come to think of it, i also have a joint account with my mother which i had never contributed to, it is all hers. Can they take her money?

I just don't want people who have nothing to do with this to pay for it!

 

[Antigone*]

I just don't want people who have nothing to do with this to pay for it!

Then get your name off those accounts ~ you will save yourself a lot of time.