Why is proper Asset Protection Consulting necessary?
Under the U.S. legal system, the deck is stacked in favor of the plaintiff and against the defendant. This is the reason so many lawyers specialized in contingency fee lawsuits in which they are paid a percentage of whatever they win for their clients. This encourages the filing of spurious lawsuits. Because a new lawsuit is filed every thirty seconds, the average business owner or professional person stands a chance of being sued several times in his or her lifetime. Under the current system, any suit, no matter how apparently worthless, can result in a ruinous judgment. So the main reason why asset protection becomes necessary is - once a lawsuit has been filed, the law will not allow you to move your assets. You must act ahead of time to protect what you own before it comes under attack.
Asset protection requires a specialized knowledge of many facets of the law
A proper asset protection consulting can only be prepared by an attorney. Asset protection requires a specialized knowledge of many facets of the law, including taxation, estate planning, litigation, bankruptcy and collection procedures. If you are attempting to create a plan that will withstand an attack from a high priced lawyer on the other side you need a good lawyer on your side from the beginning. You would certainly not consider having a non-lawyer represent you in court and you should not consider having a non-lawyer prepare the legal documents that may ultimately be tested in court.
Attorneys are responsible for what they say to you and the work they perform. They have a license from the State Bar and will lose their livelihood if they mislead you as your asset protection consulting managers. Also, most reputable attorneys carry significant malpractice insurance to pay a claim if they are negligent in representing you.
No such safeguards are available from an "Asset Protection Consultant" or "Trust Specialist." They can say and promise you anything without oversight, regulation or legal consequences. And generally, you won't even know that what they told you wasn't true until it's too late.
