Why Asset Protection Is Needed By Individuals, Businesses And Professionals
The Connolly Law Firm and its associates is one of the Nation's leaders in providing
domestic and offshore asset protection and estate planning structures.The Connolly Law Firm has consistently informed individuals, business owners and professionals that the time to implement an asset protection structure is before, and not after, the liability is incurred. Unfortunately, too many individuals mistakenly believe that liabilities are only incurred by the "other guy" [i.e., the head-in-the-sand ostrich syndrome], or, that they can not really be held liable until a judgment is rendered and, thus, that they can still engage in asset protection planning up until that time.
The Connolly Law Firm warns that no one is really immune from a potential lawsuit for a real or imagined wrong, and, that if successful the plaintiff's attorney will reap one-third or more of the amount of the judgment. Thus, while an award of $1 million generates $330,000 plus expenses for that attorney, the defendant is also out the litigation fees and expenses charged by his own attorney and which can run into hundreds of thousands of dollars.
Records complied by the Connolly Law Firm reveal that in just the past 24 months medical malpractice awards exceeding $246 million have been awarded against physicians, surgeons, nurses, anesthesiologists and radiologists in such states as Florida, Illinois, Indiana, Kentucky, Massachusetts, Michigan, New Jersey, Pennsylvania, New York, Rhode Island, South Carolina, Tennessee, Washington, and Wisconsin. In addition, awards in the amount of $29.9 million have also been awarded against dentists and eye surgeons.
The Connolly Law Firm notes that construction litigation has become a booming area of the law as the economy continues its downward spiral, thus there is a lot more work for lawyers representing developers, builders and buyers. Included in such litigation are claims of construction defects, construction delays, and collection claims in foreclosure.
The Connolly Law Firm further notes that an article in the September 2003 issue of Trusts & Estates magazine revealed that "Top Law Schools Fail To Train Students in Trusts and Estates"; "clients want asset-protection plans" but lawyers don't consider them because "they don't quite know how", and "lawyers anticipate a rise in litigation as baby boomers begin inheriting from their parents and taking the ensuing will disputes to court."
As indicated by the foregoing, the Connolly Law Firm advises individuals to carefully plan in advance utilizing the services of an experienced and highly qualified asset protection law firm. Individuals should never gamble with the financial future of themselves and their children. Thus, comprehensive asset protection structure should be a major part of an individual's long-term strategy. Additional information is immediately available by calling [989] 539-3996 or by visiting Professionalassetprotectionservices.
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