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Divorce to Save Assets?
June 29, 2010 permalink
Al Gore has become the target of a scandal in which an unnamed masseuse claims that he tried to force himself on her sexually. The National Enquirer reveals that before the scandal came to public attention, but when the Gores knew it was coming, they engaged in some real estate transactions that restructured their assets. They also announced they were separating after forty years of marriage.
Why? In the past courts respected marriage by, for example, excusing a husband from the obligation to testify against his wife. The courts were ashamed to put a man in jail for protecting his wife. Also, married couples had some protection from a civil judgment against one of them, because courts refused to put the innocent wife out of her home to satisfy her husband's debts. In the age of same-sex marriage, these protections are history. The public would not stand for excusing a man from testifying about a crime committed by his same-sex partner. In today's upside down world, Al and Tipper Gore may be protecting their assets by rejecting marriage.
GORE SURREAL ESTATE DEALS
WHY did AL & TIPPER GORE buy $8.8 mill California mansion just prior to publicly announcing their divorce? And WHAT is the real-estate sleight-of-hand they pulled in their home state of Tennessee that experts find "puzzling"?!
A month after scoring their new palatial Montecito estate, Al and Tipper transferred nine properties the wealthy Gores own in Carthage, Tennessee from their own names into a limited liability company (LLP) - a corporate partnership which, legally, is a separate entity.
According to legal docs filed in Tennessee, the transfer of ownership occurred after the accuser in the AL GORE SEX SCANDAL filed a 2009 police complaint accusing the ex-VICE of sexual misconduct.
A real estate insider told The ENQUIRER that such a transfer of ownership protects the valuable assets in potential legal claims.
A limited liability partnership, like a corporation, is a completely separate entity and can not be liable as an asset if someone files personal lawsuits against either Gore.
The Gores also bought the new California mansion under the auspices of a trust which, experts say, can also be shielded from potential legal attack.
Source: National Enquirer