Personal Injury Lawyer Will Steal Your Unprotected Personal Assets (II)

HOW TO PROTECT YOUR ASSETS FROM CONTINGENT FEE ATTORNEYS

What’s asset protection? In my definition asset protection is protecting everything you have or control against pickpocket experts (i.e. personal injury lawyers or any other contingent fee attorneys) who have perfected their profession on easy targets, like you.

Each of your assets should have a financial goal. What’s your financial goal for your personal residence, your vacation spot, your CD’s, your IRA, your investment accounts, and your other valuable assets?

With your personal residence, the bank is protected by virtue of a mortgage subject to the real estate. It's your personal equity in your home that is wide open for a lawsuit. Do you have minor children learning to drive your car? Did you know that you assume full responsibility for their negligence? Do you own your home in your name jointly with your spouse? Did you know that if either one of you gets sued … you can lose more than just your house?

Another financial goal for your house is the tax deductions available for tax purposes on your form 1040. Tax law allows deduction for mortgage interest and real estate tax deduction. So there are two financial goals for your personal residence: protection from potential creditors and their counterpart injurious, villainous attorneys, and tax deductions for your interest on mortgage and real estate tax deductions.