lml@lancaironline.net Mailing List Archive

<<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> << Lancair Builders' Mail List >> <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> >> I went through the sticker shock of insurance on a IV-P also. After talking to all the other owners I could I came up with this solution. I formed a Nevada corporation with a nominee for the officers. The plane is the only asset of this corporation. I issued bearer shares (those that have the shares in possession "bear" the shares - hence bearer shares). Shareowners are not recorded with the state. Hence my name is not anywhere. I sold the plane to the corporation, and rent it back. The payment that would otherwise go to the insurance company goes to my self-insurance fund. I will use that for minor accidents. For major accidents I have life insurance. I also have not-in-motion insurance for a fire or other mishap. If the plane nose-dives into a busload of future millionaires the attorneys can have the keys to whatever is left of the plane and the keys to the corporation. Larry Klaas N51LK >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> LML website: http://www.olsusa.com/Users/Mkaye/maillist.html Builders' Bookstore: http://www.buildersbooks.com/lancair >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>