Approximately 70% of all of the world’s lawyers are practicing in the U.S. each year, an additional 40,000 new lawyers graduate from law school looking for a job. The top ones will be recruited by established law firms, but most will work wherever they can. There are many reasons that the U.S. is known as the most litigious society in the world, but one reason is the number of new attorneys who will take any case that comes their way. The one way to prevent these lawsuits is to make it known that the assets are protected and would be very difficult to recover.
Anyone Can Be Sued
Anyone who has significant assets should seriously consider sitting down with an asset protection lawyer in Las Vegas, NV to discuss legal methods for protecting those assets. Even if someone has never been sued, that cannot be taken as a guarantee that they won’t find themselves in court in the future.
At one time, few people other than building contractors and physicians felt it necessary to take steps to protect their assets from judgments. Today, asset protection is regarded as similar to insurance; it’s most effective when put in place well before it’s needed.
If You Need an Asset Protection Plan, Nevada’s Laws Are Very Favorable
Nevada has been in the forefront in passing cutting-edge laws regarding the formation and administration of trusts. Nevada is one of the few states with laws that provide timely protection from future judgment creditors (those holding a judgment for a monetary recovery).
The Nevada waiting period is two years, but it is four years in other jurisdictions. There still are steps that can be taken if an asset protection trust is not put into place in advance of need, but taking early action is strongly recommended.
The attorneys at Grant Morris Dodds bring a wealth of experience to asset protection. The practice also offers a wide range of estate-planning services to their clients. Anyone who is concerned about protecting those assets that they worked hard to accumulate should contact an asset protection lawyer in Las Vegas, NV. To learn more, visit the website to schedule a no-charge one-hour consultation. The firm has a “Superb” Avvo rating and is included among the Super Lawyers.
