Need some advice

[tombstone10]

I've heard of owner operators with their trucks in other peoples names..I am gearing up to get a truck and need to know if I can do this and keep my future ex away from my 5 daughters college money that I plan on saving for them...Please, some real good advice on it would be greatly appreciated..Thanks, T.

[stage1160]

Stone, If it were me and I had either a VERY close Brother or even closer friend, I would S-2 Corporation in Del. and then draw a salary from the corportation with the other party writing the checks or you could get your accountant to write the checks to you. Either way the truck would be protected thus protecting the funds generated by it and you would simply be an employee. Also remember that as an employee the corporation can pay for your medical benefits, your retirement, etc. Just please have an acct. make sure they tax you and you file your necessary tax forms with the Feds & SS. Delaware has no state tax. Even if you reside in another state makes no mind. You can Inc. for about $500 I think. I Inc. about 15 years ago and this is who I used. 5 Min. online Delaware LLC, Delaware incorporation - Lowest Price! So check it out for yourself. It seems by your introduction, your doing it for the SAME reason I did!! Peace & Blessings

[tombstone10]

Stage, thank you.. I'll look into that..Have a good week..Tombstone..

[Apostolic]

I work out of a small UPS Freight terminal in upstate New York.

We have two former owner operators that had to sell out because the fuel prices were killing their profit margin.
One guy had his tractor for 5 years.
The other one had two tractors going with his brother working for him.

One guy is now a dock,and city driver,the other one is a dock,and extra board road driver.

So think it over long and hard if you want to give your life over to be an owner operator.
It might seem like a very good deal now,but after a while you may be sorry if your not careful.

One other note on this topic.
I met a driver that was 72 years old, driving for a flat bed trucking company.
He had 5 trucks going,making a great living.
Then had a heart attach.
He had to have the open heart operation.
He never thought about having any health insurance.
He lost everything he owned to his medical expences.
Now he says he''ll have to work for someone else untill he dies.

Do what you want driver,but weigh in all the pro's,and con's before you commite yourself to something you may regret,in the long haul.

[tombstone10]

Thank you sir for your response on this..I appreciate it..I am still trying to get ideas and might as well just go ahead and put it in my name..Can she touch the money that will be needed to run the truck?? I can understand part of what I make, but it will need operating money...Thanks, T.

[HeadRush]

Originally Posted by tombstone10

Thank you sir for your response on this..I appreciate it..I am still trying to get ideas and might as well just go ahead and put it in my name..Can she touch the money that will be needed to run the truck?? I can understand part of what I make, but it will need operating money...Thanks, T.

I wouldn't do that! I'm in the same boat you're in, and whatever you make (regardless of operating expenses) will be used to calculate your child support/alimony. The best thing for you to do is to follow stage1160's advice or seek out a good lawyer. How the system became so ruthless towards the non-custodial parent, I don't know. It's not going to change anytime soon either, so preparing yourself like your ex is your worst enemy is all that you can do. Good luck & blessings to you in whatever you choose to do.