Jay Adkisson, in his Forbes Column, Mechanics Of Assignment Orders Illuminated In Optronics Technologies, describes how assignment orders work in the creditor/asset protection context. His article begins as follows:
An assignment order is a post-judgment enforcement remedy that causes some asset (usually a right to an income stream such as royalties) to be assigned from the debtor to the creditor, so that the creditor receives the income stream until the judgment has been paid in full. Think of it as a remedy for future assets: If an asset is to come into existence in the future, then the rights to that asset can be diverted by the Court to the creditor. By contrast, if the asset already exists, then the creditor can simply levy on the asset, and have it seized and liquidated.
To see full article, click: Mechanics Of Assignment Orders Illuminated In Optronics Technologies
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.