The Asset Protection Law Center

If you’re involved in any business or profession all of what you own is exposed to the risks of the business. Bad luck or unexpected changes in the economy can wipe out years of savings. Personal guarantees on loans - deficiency judgments on real estate – What’s the best plan to protect your home and savings from business and investment losses?

The most powerful weapon in the hands of a legal adversary is his ability to freeze your assets. When your assets are frozen and you can’t access to your accounts, you can’t operate your business or pay your living expenses. Worst of all, if you don’t have money to pay your lawyers then an asset freeze will force you to settle a case quickly, on the worst terms, regardless of your degree of fault. The goal of asset protection is to keep your property free from liens and attachments.

Your private financial information - details about your bank accounts, stock ownership, and real estate - can now be accessed on the Internet. Anyone can find out what you own and how much you have. Detailed information describing all of your real estate and business interests, the name of your bank and brokerage firm, your account balances, and your transaction history can be accessed and assembled without your knowledge or permission. Now, anyone can find out what you have and how much you are worth.

The booming demand for personal information has spawned a new multibillion dollar industry of “information brokers” trading in your personal and private information .These companies scour public records as well as inside “sources” at banks, brokerage firms and telephone companies. They employ thousands of people, researching and inputting data, to supply a full length, 100+ page dossier on your personal and financial history, personal information about you to attorneys, marketers, credit suppliers, financial institutions, and investigators.

Who wants to know about your financial matters? A lawyer checking to see if you are a good target for a lawsuit, or maybe a business competitor, a nosy neighbor, or your ex-spouse trying to gain an unfair advantage. Anyone snooping into your personal affairs, without your knowledge or permission, is a threat to your financial security and sense of well-being.

The reality of our legal system is that people are named as defendants in lawsuits not because of their degree of fault but because of their ability to pay. When an attorney is approached by a potential client who is claiming injury or economic loss, the attorney will consider whether a theory of liability can be developed against a party who can pay a judgment. This is called the search for the "Deep Pocket Defendant." The Deep Pocket Defendant will have substantial insurance coverage or significant personal assets. The measure of an attorney’s skill is his ability to create a theory of liability which will connect a Deep Pocket Defendant to the facts of a particular case.