HOW DOES ASSET PROTECTION DISCOURAGE LAWSUITS?
Before any lawsuit is filed, the attacking attorney does an “asset search” on you, looking to see if you own sufficient assets to satisfy a judgment and if the attorney’s 40% fee for assets collected in the lawsuit is enough to tempt him. The goal of asset protection is to reduce your visible ownership interest to a minimum while increasing your control over your assets to a maximum. The legal system is set up so that you can only lose what you own, no what you control. If you show little or no ownership, attorneys will skip you and go to someone else where the rewards are easier.
