How Did Trump Make Himself
Unfortunately, litigation has become a way of life in this country. There are over 16 million lawsuits filed each year. More than 70% of the world's attorneys live in the United States. Contingent fee arrangements encourage lawsuits. Many times the defendant still has to pay his legal bills, even if he wins.
I am sure that Trump found the best safeguard against lawsuits is not to have any attachable assets. He has accomplished this by transferring them into judgment proof entities.
I believe he created an estate plan whereby the vast majority of his assets were transferred into a Family Limited Partnership (FLP) to eliminate or reduce his exposure from future lawsuits.
How did this non-fraudulent transfer protect those assets? The key is the vote. Creditors may get a charging order on a limited partnership interest, but they cannot direct its affairs. Only the General Partners can.
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