The sad reality of today’s litigious society is that it’s not if you get sued, but when. Litigation has become a trillion-dollar industry. In 2018, there were 1.34 millions lawyers in the United States alone. Each year, there are approximately 100 million lawsuits. How can you protect yourself from the litany of future potential threats and creditors?
Asset Protection isn’t a guarantee that you won't get sued. Nor does it mean you’re invincible should a lawsuit arise. Your Asset Protection plan is a safety net, protecting your otherwise vulnerable and exposed assets and creating impediments and blockades for your lawsuit-obsessed adversaries.
Asset Protection is like any other form of insurance. It works best when purchased before the need arises. We see too many individuals wait until they are facing litigation to set up an Asset Protection Plan. This is poor planning. You wouldn’t wait until you get into an accident to then buy car insurance.
If you wait until after you’ve been sued to speak to a qualified Asset Protection specialist, it doesn’t matter how good they are, the number of Asset Protection tools at their disposal is limited. When you act proactively, you allow your Asset Protection Attorney to reach into their tool bag and consider every available tool and tactic.
Roughly 70% of lawsuits are not fully covered by liability insurance. Your hard-earned assets are vulnerable to being seized by creditors. We have insurance on our houses and cars; Asset Protection is the insurance to protect the rest of our assets.
Now, all of this isn’t to say nothing can be done once you’ve been sued -- every situation is considered on a case-by-case basis. However, your options will be fewer. Stop procrastinating and nonsensically pretending that the unfortunate things that happen to other people won’t happen to you. Protect yourself before you have a problem.