Thursday, July 1, 2010

Al and Tipper Gore moving to shield assets as problems multiply

Buying an $8.8 million California mansion months before announcing their divorce wasn't the only puzzling real-estate transaction for the Gores.

A month after snagging the Montecito estate in October 2009, Al and Tipper Gore transferred nine properties in Carthage, Tenn., from their own names into a limited liability company.

The transfer on Nov. 30, 2009, came after an Oregon masseuse lodged a January 2009 police complaint accusing the former vice president of sexual abuse.

The woman claims Gore came on to her like a "crazed sex poodle."

Experts say that transferring property is usually a way to protect assets from legal claims.

The Gores bought the California estate through a trust, which can be another way to shield assets, said Manhattan divorce lawyer Sherri Donovan.

No comments: