Talk of The Villages Florida - View Single Post - Bill Cosby released.
View Single Post
 
Old 07-04-2021, 12:09 PM
Quickdraw Quickdraw is offline
Junior Member
Join Date: Jan 2012
Posts: 16
Thanks: 0
Thanked 1 Time in 1 Post
Default

The civil suits against Crosby are unlikely to produce beneficial results for the women suing Crosby, assuming his asset protection lawyers are competent. The man has good lawyers, and it is unlikely that he will not use all the time he has between these suits being filed and the resulting judgments being entered, to get himself in a position to avoid paying any judgments. While the law prevents someone from "giving away" assets to avoid judgments (i.e. fraudulent transfers) one can always retain one's assets while merely changing the form of the assets from assets which are not exempt from judgment creditors to assets which are exempt from judgment creditors. I am unaware of how homestead law works in PA, but there is a good reason OJ now resides in Florida, where your homestead, irrespective of value, is exempt from the claims of creditors. Also, in Florida, annuities are assets which are exempt from the claims of creditors, and I would assume that Crosby and his lawyers are smart enough to know these things. Wouldn't be surprised to see Crosby sell his home in PA and move to FL, after having most, if not all, of his liquid cash assets converted into annuities. While doing these things are always inconvenient, and sometimes difficult to accomplish, in any case, these are just two of many ways to validly and legally
prevent creditors from taking your assets.