Approximately 15 million civil lawsuits are filed each year in the United States and therefore many are at least somewhat concerned about the possibility of being sued. Whether you are a business owner, lawyer, doctor, architect or none of the above, if you are interested in avoiding a lawsuit, this article has tips for you.
1. Asset Protection
Protect your home, business, financial accounts, properties and possessions from
litigation.
2. Buy Enough Protection
This doesn’t mean that you have to get the “top of the line” protection to have
enough coverage. It simply means that if you are interested in obtaining insurance
that you should consult with a professional or seek out other means to get the
information that you need to make an informed decision.
3. Joint Property
Carefully consider the ramifications of joining into marital or otherwise joint
property. Examine the laws that apply specifically to your own state and/or county
where applicable.
4. Setting Up a Separate Business Entity
This is something that is very beneficial to do to minimize the damages that one can
suffer from in a single, highly damaging lawsuit. Anyone in this situation is
strongly advised to consult with a professional in the beginning process of
any such plans.
5. Domestic Asset Protection Trusts
When looking to provide an extra layer of protection that is only provided within
a specific number of states, one should consult an attorney. That way an appropriate
level and quality of protection can best be established for each individual
circumstance.
Our Palm Springs business litigation law firm provides this information to you.
