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Asset Protection |
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Avoidable Lawsuit Nightmares Why You Need Lawsuit Protection |
Asset Protection Handbook |
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Price: $125.00 ORDER |
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If you are an entrepreneur or a professional, own rental property, or even have much wealth invested in safe assets such as stocks and bonds, chances are about one in four that you will be sued sometime in your life. Five years from now, most likely the chances will be even higher. We in America are living in a lawsuit-crazed world that is becoming even more lawsuit-crazed every year. Against these lawsuits you have only two lines of defense. (1) Be a pauper --which has its drawbacks. or (2) use asset protection techniques to anticipate potential problem areas, reduce the likelihood of lawsuits against you, and insulate your assets from judgments in the event of a successful lawsuit against you. Here are just a few examples of lawsuit nightmares, which you can avoid by using the techniques set forth in this book. Homeowners Nightmare Marie and Scott were contentedly watching television in the living room of the house they had recently purchased. They heard a commotion outside. They went to their front door just in time to see a lanky man run across their yard and jump over their fence. A hefty policeman was in hot pursuit. But when he tried to jump the fence, he fell and was seriously injured in the back. When the policeman and the city discovered that the fence was four inches higher than the building code allowed, they filed suit against Marie and Scott for $500,000 more than their homeowners liability coverage. Reason: For owning a fence that was higher than code, Marie and Scott may have been guilty of negligence. They may wind up losing their new home. How to Get Sued by Being a Victim of Thieves By the time they had reached middle age, Wayne and Constance had grown their company into a thriving family business. Then a tragic event happened. While Wayne and Constance were away on vacation, someone stole the fence that they had built around their swimming pool. Then at night two wandering children fell into the pool, and drowned. By not maintaining a regulation fence around their pool, Wayne and Constance were guilty of having a "hidden machination of danger" on their property, which, among other things, in law made them liable for foreseeable damages. They ended up owing $900,000 above their homeowners insurance coverage. Among other assets, the plaintiffs' attorneys have attempted to place a lien on Wayne's and Constance's home, as well as attach the shares of stock in their corporation. Constance may lose it all. How to Get Sued By Being an Accident Victim Peter and Barbara had a pleasant anniversary dinner at a nice restaurant. As Peter was driving home, their car was hit head on by a barge driven by a pregnant third generation welfare recipient. Both Peter and Barbara were severely injured but finally recovered. Meanwhile, the welfare bum interviewed five lawyers before she found one who would take her case against Peter, on the theory that he had been guilty of drunk driving. This is because the restaurant's bill showed that over the course of a long dinner Peter and Barbara had shared a bottle of wine together, and the lawyer is claiming that Peter drank almost all of it himself. Peter's attorney says his defense will cost at least $30,000, and of course Peter might lose because you never know what a jury will decide. You Can Be Sued Because You Own Property John owned a dozen apartment buildings that he had purchased cheap and rehabilitated with "sweat equity." He lost most of them as a result of a $3,600,000 lawsuit by a tenant. why? while the tenant was having a drunken spat with her boyfriend, the boyfriend struck her several times. The last blow knocked her off of the balcony. She fell three stories to the sidewalk. As a result, she suffered serious and permanent injury. But why did she sue John? The complaint that her attorney artfully prepared-alleged that the balcony railing had not been painted for four years, and therefore had been weakened due to John's negligent lack of maintenance. The real reason? Because John owned all those apartment buildings, he therefore had deep pockets. About two years later when the jury rendered its verdict, John owed some $500,000 above his insurance coverage, plus another $40,000 in attorney's fees for his lawyer. You Can Be Sued Because You Used Asset Protection Incorrectly Several years ago Jim charged into my office all in a fluster. "I'm a consulting mechanical engineer. This morning I sent my secretary to pick up some parts for a turbine I'm installing for a client. She took my truck and had an accident. She's okay, but someone else is in the hospital! She says the brakes didn't work." He needed reassurance: "But I incorporated my business last year. So I'm okay. Right?" I asked, "who owns the truck?" "Technically it's in my name. But that shouldn't matter, should it, since she was on company business?" I had to inform him that, in order for a corporation to protect against personal liability, it must not only be validly formed and maintained, but the appropriate assets must also be legally transferred to it. Unfortunately, since it was he who owned the truck, it would be he whom the unfortunate accident victim would sue. And sure enough he is. BUT You CAN Avoid Devastation By Lawsuits If You Use Asset Protection Correctly You may feel depressed after reading these actual cases of horrible things happening to perfectly good people. Imagine how much worse these individuals felt when they realized that their problems could have been avoided by using asset protection tools and techniques correctly. Learn from their mistakes so that you can sleep better at night. This is why this book has been written for you. ORDER |
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SKU/Item Number: APH |
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Avoidable Lawsuit Nightmares |
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To contact us: |
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Phone: 978-356-6148 Fax: 978-356-6147 E-mail: info@atlanticatm.com |
