Lawsuit for $3,500,000 settles for write down and bad credit
2006 – man who took out a loan for his business suddenly becomes responsible for a capital call and had personally guaranteed the loan. Prior to this call he had planned and by the time this scary asset eating situation came down he didn't have much available on his balance sheet so the bank wrote down the default. He did take a credit hit but kept most of his assets.
James Burns
James G. Burns, Esq., is an estate-planning and asset-protection attorney in Aliso Viejo serving Orange County families, business owners and professionals. His work begins with Risk Exposure Mapping to identify gaps in ownership, control, succession and implementation before documents are prepared. He also advises qualified clients on advanced trust planning, Private Retirement Plans, PPLI and cross-border coordination. He is the author of The Three Secret Pillars of Wealth.
