Lawsuits have become one of the next biggest businesses. Your chances of
being involved in a lawsuit increases each year as more and more people
turn to lawsuits as the solution to solve monetary problems and more and
more attorneys join our profession looking to earn their piece of the
financial pie. Lawsuit can stem from anything.
For professional industries which carry higher associated risk such as
real estate, construction, medicine, accounting, or hospitality, you may
find yourself in the cross hairs of impending lawsuits more often than
other professions. Most of these professions carry liability insurance
to offset some of the risks associated with the business. However, unfortunately
insurance does not cover the majority of lawsuits. While it is smart to
have liability insurance coverage (which we recommend), it often times
does not cover the actual incident, or the coverage may not be adequate
to cover the amount of a lawsuit judgement.
Owning a business gets you the freedom of being your own boss but at the
end of a long day it could feel like that’s about it. Business owners
often have a target on their back for litigation. The trouble could arise
from employees, contracts, service/product malfunction, failure to provide
a service or product, working conditions, working hours, workers compensation…
The list goes on.
You should know that if you own real estate in your personal name, any
incident that happens on that property can be attached to you personally.
It does not matter if it’s your primary home or if you have rental
units and a tenant is injured because of something on the property. The
more you own in your personal name the more personal risk you will assume.
If you have checking, savings, or investment accounts in your personal
name, consider yourself a tree with low hanging fruit. If you have a judgment
against you, this is an easy asset for taking. Lawsuits have become the
get rich quick option for many people and unfortunately there are many
unscrupulous lawyers willing to take these cases.
The Presser Law Firm, P.A. specializes in working with people who need
to create financial security for themselves, their families, or their
businesses. The first step to protecting your assets is to understand
your current exposure and risk. Contact us today for a complimentary preliminary
consultation with one of our experienced attorneys to learn more.
The Presser Law Firm, P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(561) 953-1050 or e-mail Info@AssetProtectionAttorneys.com