Frivolous Lawsuits & Asset Protection
Employment lawsuit, Medical Malpractice Lawsuits, Personal Divorce Lawsuits
Frivolous Lawsuits & Asset Protection
PART 2: ASSET PROTECTION: GENERAL/LIMITED PARTNERSHIP, CORP CHAPTER “C”/CHAPTER “S”, LLC, TRUSTS
ASSET PROTECTION is the concept of protecting and preserving one’s assets from frivolous, illogical, ill motivated, devastating, catastrophic claims against your wealth designed to destroy your “current” and “future” lifestyle.
Let me put it another way: Up to now, you’ve probably worked very hard to get where you are. But my guess is that you’ve worked too hard, endured too much stress … and for what? It can all evaporate before your very eyes.
The ugly truth: the fastest growing businesses in America are armies of contingent fee lawyers. (80% of total world’s lawyers are in the United States; 130,000 new students are currently attending law school).
…Do you remember the woman who was awarded $2.3 million in a suit against McDonald’s because “she” spilled hot coffee all over herself. (The Award was later reduced but not eliminated).
… While driving to an appointment, one of your employees remembers he needs to contact a coworker regarding a meeting. He dials the number on his cell phone, and briefly takes his eyes off the road. In that instant, a vehicle in front of him shifts lanes, and he strikes it, seriously injuring a 78-year-old woman…Under exactly this scenario, a jury awarded a $21 million judgment against Dykes Industries of Little Rock, Arkansas.
Predator-Plaintiffs filed 30 Million new lawsuits last year! That’s over 82,000 PER DAY and the number keeps growing. Opportunists make careers out of filing lawsuits, knowing that the expense of defending against these attacks is so high, a settlement will likely be offered.
How Opportunists Find Out You’re Worth Suing. Your bank, brokerage and credit card transactions provide a remarkably detailed account of who you are, what you own – and even your opinions, interests, ideology and religion. These records may be subpoenaed in a lawsuit and used against you.
Like or not, your life has become an open book…You have NO financial privacy.
I don’t mean to alarm you – but the information uncovered about you and your family, is frightening. The truth is, just about everything you might want to keep private – details of your bank accounts…your phone records…medical records…credit reports…your Social Security number…can be viewed by anyone, anytime, for “the right price.”
The United States has some of the most relaxed privacy laws in the world. Information about you is bought, sold or shared without your knowledge or consent every day. You can slow down this trade in your data, but you can’t stop it. In 2004, more than nine million Americans had their identity stolen and approximately 1.8 million were sued. For a few dollars, you can perform a search on the Internet to locate your target’s home address, work history, telephone records and even balances in U.S. securities and bank accounts. Most other countries regulate this trade in information much more strictly than the United States. And in countries with bank secrecy laws, it means that this kind of financial information can never be shared, except under stringent conditions. Information about you, your wealth, your home and everything in it is for sale to the highest bidder.
For example: Computers have become valuable digital assistants. But they may also contain sensitive information about your finances, spending habits and personal life. In the wrong hands, these little facts could not only embarrass you…but could be used against you in court.
Identity theft is the fastest-growing crime in America. In 2005, at least 130 reported security breaches exposed more than 55 million Americans to potential ID theft. I.D. Thefts Spiraling Out of Control in 2006. In 2006, more than 30 million Americans have had their personal data potentially exposed to identity thieves – just look at what happened in just 4 weeks!
… May 22, 2006: 26.5 million military identities exposed when a laptop was stolen from a U.S. Veterans’ Administration employees’ home.
…June 1, 2006: 1.3 million customers exposed. The Texas Guaranteed Student Loan company announced that 1.3 million customers were at risk of ID fraud after a contractor lost unspecified “computer equipment.”
… June 6, 2006: 72,000 identities exposed. Officials with Ohio’s Buckeye Community Health Plan notified authorities that four computers were stolen… containing 72,000 Medicaid subscribers’ personal information.
… June 8, 2006: 65,000 identities exposed. The YMCA announced that a laptop stolen from an office in Providence, R.I. held credit card and SSN’s, checking account data and names, addresses and medical information.
… June 18, 2006: 970,000 identities exposed. Insurance giant AIG announced that it lost personal information of about 970,000 consumers after a burglary in Midwest.
… If you loan a vehicle to a friend who injures someone or damages his property, you can be sued.
… If you lend money to someone to purchase a vehicle, you may be responsible for any damages or injuries that person causes in an accident.
… If a guest in your home does something illegal during their stay, your property can be seized. And you’re not innocent until proven guilty in such cases…rather, it’s up to you to prove your innocence, or lose your property