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Does a Revocable Living Trust Protect your Assets?

Suppose that you plan to get re-married, and in order to keep your assets separate from your significant other you set up a revocable living trust, naming yourself as trustee and sole beneficiary.  Three years later, a neighbor trips on your door step, breaks his leg, and wins a lawsuit against you.  Can the neighbor […]

Suppose an unsecured debtor doesn’t pay. What’s next?

A savvy creditor should understand the nature and availability of remedies if a debtor defaults. Such knowledge is especially important to unsecured creditors, since the options upon default are relatively few and frequently unsatisfactory-why? More often than not, the only remedy available to the unsecured creditor is to file a lawsuit, proceed to judgment (an […]

What Do Most Troubled Companies Have In Common?

According to George Cloutier, most troubled companies “…have not implemented strong financial reporting. Small businesses fail to focus on the basics – doing your P.& L.’s [profit and loss statements] and paying attention to cash flow.” Read the entire article from this consultant at NY Times

The Word On The Streets

In the last six months, I’ve repeatedly heard “we’ve never had a problem with bad debts until now.” Here are some tips: Be deliberate about your credit policy. Identify high-risk customers, and mitigate that risk wherever possible. Use up-front payments, personal guarantees, co-signors, accrued interest and liens. Start early. Amex sends me an electronic notice […]

On August 27, 2013, Gary Quinnett presented a legal seminar on commercial real estate issues. The attendees rated him "Excellent"