More than at any time in the past, your life’s work is at risk by people who would rather reap the benefits of your labors rather than earn it themselves. According to statistics from the National Center for State Courts, about 20 million new civil lawsuits were filed in state courts in 2009. Many of these are frivolous claims, or are settled for amounts greater than the actual liability simply because the costs of defending against the claims are greater than a quick settlement. Without significant changes in our legal system, the risks and potential liabilities are likely to continue to increase.
Professionals such as doctors, accountants, lawyers, and dentists, other business owners, and property owners should be sensitized to the risks inherent in conducting their businesses and professions. Your assets are at risk due to the following potential liabilities:
- Professional malpractice
- Claims by former partners
- Personal liability based on fiduciary duties
- Personal injuries suffered on your property
- Personal injuries resulting from motor vehicle accidents
- As a guarantor for the debts of another
- Arising from your own personal misconduct or the misconduct of those you hire
Asset protection is about developing and implementing proven, legally-sound strategies to preserve your wealth and safeguard your assets from the claims of others so you can have the confidence and peace of mind to focus on your business.
I would be happy to help you with your asset protection needs. If you have questions regarding your specific situation, please email me at firstname.lastname@example.org or call (703) 574-0425 to schedule a visit.