It’s a litigious world. Defend yourself before a lawsuit happens.
Whatever your opinion about our increasingly litigious society, the fact is that lawsuits happen – and if you’re financially successful, chances are eventually you’ll be on the receiving end of one.
The good news is that with smart strategic planning, you can minimize and even eliminate the prospect of a lawsuit leading to your financial ruin.
A lawsuit doesn’t have to mean financial ruin – assuming you’ve planned ahead
The basic idea is to set up a separate legal entity as the title holder of every asset of value. You are still the owner and controller of those legal entities – but this ownership structure makes you “judgment-proof” in legal parlance. Not only does this protect your assets but it also deters lawsuits in the first place as trial attorneys get paid a percentage of what they collect – and even 33% of zero is still zero.
Find out how CS&P can help make you “judgment-proof” in multiple nations and jurisdictions
Problem: George is a citizen of the United States and a close relative has been sued in a civil court of law for negligently causing a traffic accident which resulted in death and serious injuries to several people. Even though the relative had vehicle collision insurance, it didn’t provide enough coverage to pay for the multi million dollars awarded to the plaintiffs. The relative lost his home, vehicles, life’s savings, jewelry, and every other asset the plaintiffs’ attorneys were able to discover and seize. George is worried that the same problem could occur to him or his family.
Solution: CS&P can set up a structure of multiple legal entities working together to take title to all of George’s assets (real estate, vehicles, jewelry, securities, bank accounts, etc.).
In essence, George and his family will no longer be the owners of these assets although he will maintain control of these assets by owning the legal entities which took title to them. If George or a family member were to negligently cause death or injuries and be sued in a civil court for monetary damages, there will be no assets subject to seizure to pay the court awarded damages. Since civil plaintiff’s lawyers normally only get paid when they seize assets after winning a lawsuit they may not want to start an expensive and time consuming lawsuit against a defendant who doesn’t own anything. This is known amongst U.S. lawyers as being a “judgment proof” defendant which no plaintiff’s lawyer wants to sue.
We can make our clients “Judgment Proof” from any Civil Lawsuit.