The Most Ridiculous Lawsuits – 2015

With the end of the year comes the annual release of the most ridiculous lawsuits of the year.  If not the best, our judicial system in the United States has proved one of the best at allowing injured parties to obtain redress without resorting to violence or other self-help.  That being said, there are always those individuals who would abuse the system in an effort to take advantage of others.  How can you protect yourself?  Asset protection planning is not about hiding or concealing assets. It is about using the existing laws appropriately to obtain the best possible level of protection in case an unfounded attack comes along.  Asset protection planning is the process of analyzing ownership of assets and re-arranging and/or segregating ownership of those assets as needed to ensure maximum protection, maximum use of exemptions and to minimize risk of loss in future litigation.  Asset protection is not evasion of taxes or defrauding current creditors. To be effective, asset protection plans must be properly designed, drafted and implemented.