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Disclaimer: Please note that IncSmart is not a law firm or an accounting firm. If you seek legal or tax advice, we recommend that you hire an attorney or a CPA.
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Without Asset Protection You Could Suddenly Lose Everything You've Worked For
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You know we live in a litigious society, but do you know what that means?
- Nine out of ten lawsuits in the world are filed in the United States
- A new lawsuit is filed every thirty seconds.
- If you own a business or practice a profession you have one chance in three of
being named a defendant in a lawsuit in the next year. And it will only get worse.
There are close to 700,000 practicing attorneys in the U.S. and over 100,000 law
school students in school right now. That's one lawyer for every 400 men, women
and children!
- Contingency Fee lawyers search for easy targets.
Any of these events could leave you penniless and in debt.
- A negligence or injury claim, whether justified or not, that exceeds any insurance
coverage you may have or where insurance does not cover the liability
- Breach of contract through no fault of your own
- A professional malpractice suit
- Lawsuits from disgruntled business partners or employees
- Divorce
- Huge fines for violating state or federal law because of the actions of an employee
- Claims from creditors should your business fail
- Catastrophic medical bills
- Seizure of your home or other assets without due process by the U.S. Customs or
other government agencies with forfeiture power
- A huge tax bill and escalating penalties following an audit
Attorney Probability
Asset Search
The first thing an attorney does before taking a case is an asset search. If there is a lien
on the property (can be up to 125% of the value) , the probability of them taking the case
is low. Protect yourself. Let IncSmart file your UCC today.
Piercing the Corporate Veil
if a corporation has no significant assets, the plaintiff will attempt to convince the court
that the corporate entity should not be respected and that the principals of the company
should be personally liable. Use the IncSmart Library to stay in compliance.
Need to file Bankruptcy? Click HERE
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IncSmart.Biz has a goal to empower everyone. You already have plenty to think about,
and we all know there is no power to be gained by confusion, so let us help you to help
yourself. What's most important is to make sure things are done right in the beginning
so you can continue to grow your future with clarity, confidence and peace of mind. The
Internet is an incredible resource that puts the knowledge of the world at your fingertips.
For the consumer, research has never been easier—or more confusing. The sheer
volume of information (both good & bad) offered on the Internet, especially when
researching an unfamiliar subject like asset protection, can make an educated decision
seem like a monumental task.
There are two ways to use private corporations to protect your assets. Assets can be
transferred into the private corporation or the private corporation can be used to lien or
encumber an assets equity.