Fight over Disney fireworks show leaves woman suffering from a brain bleed. Happened on May 9th, finally was resolved.

pdude81

Well-Known Member
This is one of the reasons why I paid for a dessert party for the Fourth of July. Yes, I will still need to find a spot in the viewing area to watch from but it should be one less thing I need to worry about.
There are people even in the dessert parties that will try to squeeze in or ask you to move so they can get in. We were all the way in the back and had a family on top of us for no reason. There is more than enough space for people to stand, but some just have no care for any other human beings.

It is much less likely though to have this happen in the plaza garden than anywhere in the hub. Out there it's a free for all.
 

Touchdown

Well-Known Member
This last 6 months have sucked close to 15% of my "stock market based" retirement savings away. Hopefully I will have time for it to recover before long, but it is really scary right now.
It stinks, but I don’t know if I go with scary, scary is a 40-50% drop which can and does happen in stocks. They however usually bounce back (there has been no time in the last 100 years where the S&P failed to have a positive return over 20 years.)

What’s also scary is 70% drop which is what happened to Bitcoin over the weekend, in an asset with no long term historical average and with multiple platforms now freezing assets. That’s scary.
 

The Mom

Moderator
Premium Member
No not really. So you get a judgment. The defendant immediately filed bankruptcy. The personal home (assuming they are not renters) is going to be protected. What other assets do you think these people are going to have? Yes it will ruin their credit rating for 10 years, and while that might give the person suing some satisfaction, it’s not yielding a ton of cash, or paying the attorney you retained to sue in the first place.
AFIAK, if they are FL residents, their "homestead" is protected from a forced sale (with some exceptions, such as a loan on the home, or mechanics liens, or, of course, property taxes, etc) so other assets, such as cars, savings, etc could be seized - but not their home.

This is why everything but our home was in my name alone to protect us from losing everything in a malpractice suit.
 

Lilofan

Well-Known Member
AFIAK, if they are FL residents, their "homestead" is protected from a forced sale (with some exceptions, such as a loan on the home, or mechanics liens, or, of course, property taxes, etc) so other assets, such as cars, savings, etc could be seized - but not their home.

This is why everything but our home was in my name alone to protect us from losing everything in a malpractice suit.
One option maybe is to move assets into offshore banks managed by third party, LLC , then creditors will have a challenging time trying to seize that.
 

larryz

I'm Just A Tourist!
Premium Member
AFIAK, if they are FL residents, their "homestead" is protected from a forced sale (with some exceptions, such as a loan on the home, or mechanics liens, or, of course, property taxes, etc) so other assets, such as cars, savings, etc could be seized - but not their home.

This is why everything but our home was in my name alone to protect us from losing everything in a malpractice suit.
I believe their vehicle, if necessary to get to work, along with any work-specific tools, are also exempt.
 

JMcMahonEsq

Well-Known Member
AFIAK, if they are FL residents, their "homestead" is protected from a forced sale (with some exceptions, such as a loan on the home, or mechanics liens, or, of course, property taxes, etc) so other assets, such as cars, savings, etc could be seized - but not their home.

This is why everything but our home was in my name alone to protect us from losing everything in a malpractice suit.
If at the judgement time they file bankruptcy, as you said the personal home is going to be protected. Most retirement savings, 401K, IRA, is going to be considered exempt property and protected from bankruptcy liquidation. Sure cash on hand, saving accounts, and other large assets might become park of the bankruptcy estate, but really how much is that likely to be?
 

The Mom

Moderator
Premium Member
If at the judgement time they file bankruptcy, as you said the personal home is going to be protected. Most retirement savings, 401K, IRA, is going to be considered exempt property and protected from bankruptcy liquidation. Sure cash on hand, saving accounts, and other large assets might become park of the bankruptcy estate, but really how much is that likely to be?
I don't think they have to file bankruptcy in order to protect the home in FL.
 

Goofyernmost

Well-Known Member
It stinks, but I don’t know if I go with scary, scary is a 40-50% drop which can and does happen in stocks. They however usually bounce back (there has been no time in the last 100 years where the S&P failed to have a positive return over 20 years.)

What’s also scary is 70% drop which is what happened to Bitcoin over the weekend, in an asset with no long term historical average and with multiple platforms now freezing assets. That’s scary.
I had a lot of unexpected expenses just before I retired. Though, the years there have been many times that the market went up and down and I never even blinked. However, at that time I wasn't 74 years old and actually paying down my retirement to pay life expenses. So, what that means is that I don't have unlimited time for it to gain back. It isn't that I don't think it will but will it be enough, soon enough. That's what makes it scary. It is currently out of my control and that is also a scary part as well.
 

thomas998

Well-Known Member
Lilofan... I'm sure you're a really nice person but let's say a homeless person attacks you on the street. You can press charges, and you can sue them... How much money do you think that person can be sued for?!?

Now take these park goers for example. Let's say they are a middle class family, I have my doubts that they are but let's say they make a household income of 80k a year and have 10-20k in savings.... You can sue them for 100 million dollars but you will never see that money because it isn't there to take...
Okay, assume you win the 100 million. Now because it was an intentional act they can't escape the judgement with bankruptcy but your lawyer can start seizing their assets, any money in bank accounts and any stocks... but best of all you start garnishing their paychecks and that will go on and on year after year. So yeah you aren't ever going to get the 100 million but you will get something from the losers that assaulted you for years and years... and at the very least it should keep the person from having the cash to go back to Disney.
 

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