Originally Posted by goboatingnow
of course all that works until someone decides to sue you,
Come one guys, we are all smart and intelligent people on here. There is a multitude of ways to insulate oneself and the boat from an effective lawsuit.
Hint: The first question is, WHO do you sue, and the second is, are there any ASSETS?Separate the WHO from the ASSETS and the threat of a law suit diminishes by a quantum amount. It is a good idea to force WHERE the jurisdiction a potential law suit has affect to be considered.
And yes, I understand boats can be seized. Banks or perhaps a captive finance company with legitimate liens have precedence over any other potential liabilities.
Needless to say, you can not do this after the fact... that is fraud. Do it well before as a way of organizing your business affairs, and although not 100% creditor proof, it goes a long way towards making it not viable for a potential sue happy individual used to a litigious environment
from proceeding with enthusiasm. Choose your jurisdictions carefully.