Understanding the Legal System
Why you need to protect your assets – We examine the U.S. legal system and its proliferation into a preying ground for legal predators. Initially when our legal system was created, it was based on 4 fundamentals, all supposed to discourage litigation. Litigation is how lawyers are able to use the system to their advantage and how a legal opponent can actually extort your money. An asset protection plan is the answer, you remove your assets from this litigious system and take your wealth out of the reach of the legal system.
The Importance of Asset Protection
Let’s examine the path of the legal system and what that means for you. The first role of the lawyer was to be an intermediary in a world that was so complicated that a professional guide was necessary.
Our Legal System Was Based On:
- No Contingent Fees – When the legal system was founded, there was no such thing as a contingent fee. Attorneys would be paid more for larger settlements, which makes it in their best interest to seek outrageous settlements.
- No Advertising – Lawyers were not allowed to advertise and forbidden to promote their services.
- Ethical Standards – Lawyers had a strict set of ethical guidelines.
- Rules of Civil Procedure – When the framework of our legal system was first designed, the rules of procedure made it difficult to start a lawsuit.
At some point, the legal industry started to change things and lawyers started acting like commercial entities looking at their bottom line. The only things standing between them and doing this was the above framework. 1964, Maine was the last state to forbid contingent fees. 1977, advertising was allowed by the Supreme Court with some checks and balances, lawyers were to be monitored by each state and advertising was limited to the name of the law firm, the general practice area and fees. Ethical rules for lawyers were very strict. There was an ethical rule, the ethical cannon which explained the rule was very specifically and there was notes to explain all of these ethics and cannons. Up until 1983 a streamlined version of these ethics was released. These changes led to the downfall of a litigation void legal system. With these changes to the legal system, lawsuits are actually encouraged.
With a legal system that encourages lawsuits, lawsuit times averaging 4 years, lawyers able to litigate at your expense and having to respond to any legal pressure… where does that leave you and your assets in all of this? Asset Protection Plans are like lawsuit discouraging measures… if you want to keep your assets, protect them correctly.