As a Houston asset protection lawyer, I can report that statistics show that there were approximately 20 million lawsuits last year.
Let that sink in a minute.
20 million lawsuits.
There are many con-artists and scammers just waiting to take advantage of the legal system to deprive you of your hard-earned wealth. Many of the lawsuits above were what I would consider frivolous, but even frivolous lawsuits are often settled for staggering amounts of money.
If you are a business owner, property owner or a professional service provider such as a doctor or dentist, you are particularly vulnerable. Here are a few examples of some of the most common lawsuits against professionals:
_ Personal injury on your property
_ Personal injury as a result from a motor vehicle accident
_ Malpractice liability
_ Lawsuits from former partners
_ Liability arising from misconduct
These are just a few examples of vulnerabilities that businesses face. But the number of ways you can get sued is only limited by the imaginations of the disreputable people waiting in the wings.
The best way to prevent these types of lawsuits is preparedness. There are various asset protection strategies that will protect your business and yourself. By using a series of asset strategies you can protect yourself from future creditors. In addition to protecting yourself, you may also deter potential con-artists and creditors from filing frivolous lawsuits against you in the future.
Asset protection can only help you if you have it in place before someone sues you. You cannot put one in place today to protect your assets from current debtors or current complaints against you. It is important to act now to protect your assets from those that seek to make their own fortune at your expense.
If you would like to discuss what type of asset protection strategies you can employ, give our Houston asset protection lawyers a call at (281) 885-8826 to schedule a consultation B before you need it!
Kimberly Hegwood is the Managing Attorney of Your Legacy Legal Care, a Houston estate planning law firm. With more than 25 years of experience practicing law in Texas, she represents clients in a wide range of legal matters, including elder law, asset protection, estate planning, Medicaid crisis planning, probate, guardianship, and other estate planning practice areas.
Kimberly received her Juris Doctor from the South Texas College of Law and is a member of the State Bar of Texas.
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