How To Gain Freedom From Lawsuits
Join 1000's of Authors at StreetArticles Today!

How to Gain Freedom From Lawsuits

PAINTING A TRUE PICTURE OF LITIGATION

In my attorney’s office hangs a picture depicting a farm scene entitled “Litigation.” In the middle of the picture is a drawing of a cow. At one end of the cow is a very angry man gripping the cow’s horns and trying to pull the cow toward him. His caption reads, “The Plaintiff.” At the other end is another very angry man tugging on the cow’s tail trying to move the cow in his direction. His caption reads, “The Defendant.” In the middle, sitting on a stool, is a well-dressed man with a big smile on his face, milking the cow. His caption reads, “The Attorney.” And so it goes!

There are two unique aspects of the U.S. system that are alleged to encourage frivolous lawsuits and out-of-court settlements. First is the contingency fee arrangement with attorneys. This is when attorneys are compensated only if they win. In other words, a person can sue without having to pay any attorney fees up front. Defendants, of course, have no such privilege.

Then there is the “one-way” fee system, which means the plaintiff collects costs and fees from the defendant if the plaintiff wins. A successful defendant receives nothing. Defending a case can cost thousands of dollars. Regardless of its merits, defendants will usually end up making a business decision and will settle the suit out of court.

A movement requiring disputing parties to arbitrate their disputes is winding its way through the legal system. I hope it takes hold and is soon adopted by the entire legal profession. Arbitration generally costs less, is quicker, and it is not as likely to cause the major disturbances brought by lengthy court trials. An experienced judge hears the facts and, based on a legal interpretation of the law, makes a decision. The judge doesn’t get involved emotionally, and the decision is based on the judge’s comprehensive knowledge of the law. Because arbitration tends to reduce attorney fees, the movement is slow in coming. In the interim, you must take measures to protect yourself and your assets.

PROTECT YOURSELF

Your best safeguard is to have no attachable assets. This can be accomplished by creating an estate plan that transfers all your assets into a family-limited partnership. It is best to make the transfer before the threat of a lawsuit and/or actual judgment is rendered against you.

Unfortunately, litigation has become a way of life in this country. Both time and money are lost because of this national pastime. There are over 16 million lawsuits filed each year in this country. More than 70 percent of the attorneys in the world live in the United States. You have a greater chance to face a lawsuit in the country than anywhere else does. Keep mind this could happen to you! To protect yourself, my CD/workbook Stop Lawsuits Cold, will give you the resources you need to Gain Freedom from Lawsuits.

ABOUT THE AUTHOR: Eugene E. Vollucci, is considered to be one of the foremost authorities on real estate taxation and investing and has authored four book in these fields. He is the Director of The Center for Real Estate Studies, a real estate research association. To purchase the Stop Lawsuits Cold CD/ Workbook and to learn more about the Center for Real Estate Studies, please visit CalState companies


Street Talk

No comments present
You May Also Like
Patriot Act Bank Supplies
The evolution of terrorism has caused legislators and government officials to ramp up security and create new protocols for handling and containing this problem. In 2001, President George W. Bush signed the USA Patriot Act into law. Believe it or not, this actually stands for : Uniting and Strengthening America…
By: 15STMKTG in  Finance  >  Personal Finance   Mar 22, 2016  
0
  Likes: 0

Understanding the Differences Between Trade Credit And Cash Credit
When running a business or looking for unsecured business lines of credit, it is important that you know the difference between cash credit and trade credit. At Corporate Cash Credit we offer both options, for two very different reasons. Whether you want trade credit or cash credit, or both the…
By: Cristia in  Finance  >  Personal Finance   Jan 21, 2016  
0
  Likes: 0

4 Great Ways to Remove Tough Stains From Dry Cleaner Sherman Oaks
After buying some popcorn and hot dogs you and your significant other sit in the front seats of the theater when you notice something dwelling on your shirt- it has a brand new stain on it! Now you won't be able to enjoy the movie, and your hubby has turned…
By: Jim Green2 in  Finance  >  Personal Finance   Sep 30, 2015  
0
  Likes: 0

Know More About Online Payment Modes And High Risk Merchant Accounts
Shopping is a part of everyone’s lives. It is something that we do inevitably to get through each and every day. But what’s fascinating about shopping is that it is evolving with us, and now, most people shop through the internet. If you have a business online and you are…
By: tisamit1 in  Finance  >  Personal Finance   Sep 14, 2012  
1
  Likes: 0

What You Should Know About Australian Discretionary Family Trusts
A discretionary family trust, commonly termed as a family trust, can sometimes be a highly effective framework regarding tax purposes as well as investment protection. Traditionally this type of trust seemed to be established by households carring out a family business, but more frequently in the present cultural and also…
By: NickFlynn in  Finance  >  Personal Finance   Aug 27, 2012  
0
  Likes: 0

2019 Forecasts 243 Exabytes Per Month
With the fast adaptation with today’s advanced technology, there is also an increase in monthly mobile data traffic as more and more people use smart phones and are online almost 24/7. While you might be thinking that today’s data subscription is heavy enough, take a look at what Cisco Visual…
By: Reynolds White in  Finance  >  Personal Finance   Aug 17, 2015  
0
  Likes: 0

Attracting Equity Partners for Strategic Success
As you consider the various types of funding for a new businesses or business expansion, one of the important questions that arise concerns control. How much and how often will the angel investors get involved in your business once the funding is approved? The answer depends on a lot of…
By: jaye barker in  Finance  >  Personal Finance   Jun 16, 2013  
0
  Likes: 0

Value Equals Purchase Plus Usage
Companies in the Service Industry that offer and sell intangibles are appreciating the need to monitor and evaluate how we use their services after paying for them because it is only when we experience the value from using it that we will buy more. Long ago, their counterparts in the…
By: Ekerete in  Finance  >  Personal Finance   Feb 24, 2012  
0
  Likes: 0

China Took Steps to Promote the Greater Use Of Yuan
According to some research, Yuan transactions between China and other countries are on the rise. We also see the massive growth of global yuan payments over the past year. According to the SWIFT (Society for Worldwide Interbank Financial Telecommunication), China’s yuan currency was the fifth most-used form of payment in…
By: epayglobal liang in  Finance  >  Personal Finance   Aug 13, 2015  
0
  Likes: 0

Is It Safe to Do Business In Mexico?
Most people have been exposed to the over-blown media portrayal of violence in Mexico; more and more people are becoming aware that these portrayals do not accurately reflect real life in most of the country. But then there is another side of things; what about the safety of doing business…
By: thomas lloyd in  Finance  >  Personal Finance   Sep 26, 2013  
1
  Likes: 1

Learn How to Save Money By Couponing
Anyone who has taken one glimpse at the Extreme Couponing television show has probably wondered how they can get in on it too. Considering that money is tight right now for the average family in America, many people have turned to couponing to save a little extra cash. Who wouldn't…
By: Laura Yates  in  Finance  >  Personal Finance   Dec 19, 2011  
2
  Likes: 3

Text Payday Loans Good Financial Management Unexpected Situation
Now, the clients are able to take the option of online mode for having the smooth authorization of the needed amount via the adoption of text payday loans. Lenders of these loans have their official websites where the applicants need to get themselves registered on the website of the lender.…
By: Ross Taylor4 in  Finance  >  Personal Finance   Nov 03, 2014  
0
  Likes: 0

Assistance Of Quickbooks Guru
The software QuickBooks is an efficiency tool that can assist in the management of financial data. This can help with bookkeeping, accounting and managing an individual income. You choose the type of account you prefer but usually QuickBooks setup can be accessed from a computer or the Internet. There are…
By: Quickbooks ability in  Finance  >  Personal Finance   Nov 27, 2013  
0
  Likes: 0

Choose the Reputed Fee Binary Option Signals Service Provider
Do you like stock trading? If so, you can easily obtain the information about commodities, stocks, Indices and currency pairings with free Binary Option Signals service. If you have a desire to imitate others with excellent records then binary option signals are exactly what you are require the most. Mainly,…
By: Darshana Samaraweera in  Finance  >  Personal Finance   Dec 20, 2013  
0
  Likes: 0

What Happens If You Declare Bankruptcy?
If you are planning on declaring bankruptcy in order to get rid of all the debts you have accumulated, you are most likely wondering what the consequences of declaring bankruptcy are. Declaring bankruptcy necessitates an informative decision as it is a major financial move that could seriously affect various aspects…
By: joymali in  Finance  >  Personal Finance   Dec 03, 2013  
0
  Likes: 0

Article Views: 1860    Report this Article