Business owners, doctors, dentists or all those doing well have targets on their backs. One out of every three can expect to be sued in the coming year. Why? The U.S. graduates more people from law school each year, over 100,000, than China or Japan have in total. There aren’t enough openings in existing law firms for all of these new graduates, but they do have their law degrees. All they really need is a client, a contingency agreement and someone to sue.
It’s Yours – Protect it
Asset protection has one overriding purpose – preventing someone else from grabbing what doesn’t belong to them. One of the advantages of having protected assets is to become a far less attractive target. There’s no point wasting time and money on a lawsuit if there won’t be a payday when it’s over.
Asset Protection Will be Important if…
• There is a divorce.
• Someone files a personal injury lawsuit, claiming negligence, for an amount higher than is covered by an insurance policy.
• Creditors file claims.
• Unhappy employees or partners in the business decide to sue.
• An illness results in a mountain of medical bills beyond what the insurance will cover.
• There is an unavoidable breach of contract.
Anyone can find themselves in a situation that will jeopardize everything they have worked for. Approximately 90% of all of the lawsuits filed worldwide are filed in America. The law can and will be used against you. LLC Asset Protection Las Vegas NV offers the legal protection that is needed in this litigious society.
Timing is Important
In order to be most effective, LLC Asset Protection Las Vegas NV should be in place before it’s needed. The strategies used are fully legal, based upon steps one might take to protect valuable property from possible creditors. There is no danger of being charged with concealing assets or for bankruptcy fraud.
Insurance is Still Needed
Asset protection complements liability and professional insurance; don’t cancel the insurance policies. Lawsuits are still entirely possible; if it happens, let the insurance company cover the legal defense costs.
Nevada is very friendly to asset protection strategies. Grant Morris Dodds is a law firm that is dedicated to asset protection, estate planning, trusts, wills and related legal issues. To learn more and request a consultation, visit the website.
