It is unfortunate, but a reality in today’s society is that you can be sued for almost anything. However, it is not whether you are sued that is important, what really matters is if someone can collect against you. Litigation is basic economics. A plaintiff’s lawyer evaluates the case against you and weighs the cost of suing against the odds of winning. The lawyer then factors in the likely recovery based on your exposed assets. Essentially, the lawyer decides are you worth suing. Few sensible plaintiffs sue when they cannot foresee recovering enough to make the lawsuit worthwhile. Generally, it’s not whether you have assets that determines whether you get sued; it’s whether you have exposed assets.
To avoid lawsuits, you must convince a prospective plaintiff that you have an impregnable financial fortress and they have nothing significant to gain from suing. The most effective way to do this is to show that potential plaintiff that you have no exposed wealth that they can seize even if they were to sue and potentially win their case. By discouraging litigation you avoid the time, hassle, and expense of defending against a lawsuit.
Lawsuit avoidance is a major part of Asset Protection. Plaintiffs’ attorneys don’t take cases unless they believe they will get paid, and an Asset Protection plan makes it very difficult for even the most aggressive attorneys to collect fees.
We cannot prevent lawsuits from happening but if you are targeted in a lawsuit, the existence of your Asset Protection plan, in and of itself, can oftentimes be enough to completely deter litigation. If you prevent even one potential lawsuit in your lifetime, you pay for your Asset Protection plan many times over.
A good Asset Protection Planning makes you a very unattractive litigation target. Don’t wait until a problem arises to begin your Asset Protection planning, you must be proactive and get these strategies implemented before your involved in a lawsuit. Contact us today for more information or to schedule your complimentary preliminary consultation.
The Presser Law Firm P.A.
6199 N. Federal Highway, Boca Raton FL 33487
561-953-1050 or Info@AssetProtectionAttorneys.com