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Answer Upon - Asset Protection
The development of corporations has turned out to be a great boon for American as well as world economy. Basically a corporation is understood as a lawful body that entitles a group of people to act as unit or an individual. But since past few decades a new dimension is given to the term corporation. Corporation now refers to both profit and non-profit businesses that are identified or classified according to their tax structure. Corporations are taxed differently, not like normal businesses. On the basis of taxation, corporations are divided into two categories- C- corporations and S-corporations.C-corporations are those that are required to pay income taxes and to kill or finish the deductions on dividends paid to stockholders. C-corporations comprises of the companies that are publicly traded on stock market. The C-corporations are quite common and dominant nowadays. While small businesses and businesses with sole proprietors fall in the S-corporations category. The S-corporations do not pay any corporate taxes. Here all the gains and losses so incurred are directly passed to the private stockholders who then adjust their personal income taxes according to it.The corporations that a
This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford.
But, is that really enough?
$ MILLIONS CAN BE AT STAKE
Let's take a look at how large some of these lawsuit judgments can be.
There is a book entitled, The Professional Asset Protection Manual by Florida attorney Mark Warda (Galt Press) which lists some of the recent outrageous jury awards in the United
"If you were to give a "new-comer" in the business a "top ten" list of marketing tips to start getting clients and a "top ten" list of pitfalls to avoid, from the stand point of your great experience and wisdom - what would they be?"That was a question I was asked.Here are my thoughts:In answering this question, I'll save myself a lot of time by giving you my TOP 10 list of things to do and just do the opposite of the list if you want to fail!I'll warn you up-front that all of my strategies are focused around having a website as this has been and will remain to be the way I make money.Ok, here goes.1. SELECT A NICHEMy biggest piece of advise to you is to narrow your focus and select a niche to market to. You will reduce your marketing outlay and you will soon become known as an expert in this field. (if you are any good that is!)2. PRODUCE A SET OF INFORMATION PRODUCTSThink about your service offering and design a number of info-products to sell on your website. This creates a passive income for you. The products should help your niche market overcome the problems and the challenges that they face. Make a variety of products ran
You might think that you may never be sued.
How wrong you are!
Let's first take a look at how easy it is to be sued now days. One of the first dangers is being indirectly involved with a lawsuit.
THE DANGERS OF JOINT & SEVERAL LIABILITY
This is a legal concept whereby an individual could be sued as a second or third defendant without having been directly involved with the original injury to the plaintiff.
Here are some examples of how you can be sued for Joint and Several Liability:
1. Your business partner commits theft, fraud, or a personal injury in the course of conducting business.
2. Your spouse is accused of theft, fraud, or a personal injury and the plaintiff sues the entire marital community (including you).
3. You render assistance to someone who was injured by another person and the plaintiff sues you along with the person who actually committed the injury.
4. A friend or relative borrows your car and gets into an accident. As the car's owner you get sued along with the driver.
5. Your company gets sued for sex discrimination committed by one of your employees and you get named as a defendant because it's your company.
6. Your real estate investment partnership, joint venture, or company gets sued by the federal or a state government because toxic waste is discovered on the property.
7. The IRS, or Revenue agency sues your partnership, joint venture, or company for tax evasion.
There are many more examples I could provide. The main thing is that you can be sued and become jointly and severally liable for an injury to someone without having been personally negligent. All that is necessary is that you were connected in some way. If you are dragged into a lawsuit and the other defendants are without assets or insurance, you may end up being held liable for the full amount of the judgment!
WHAT ABOUT INSURANCE?
Many lawyers recommend you purchase at least $1 Million insurance for each of your businesses, homes, land, cars, motorcycles, and boats you own.
This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford.
But, is that really enough?
$ MILLIONS CAN BE AT STAKE
Let's take a look at how large some of these lawsuit judgments can be.
There is a book entitled, The Professional Asset Protection Manual by Florida attorney Mark Warda (Galt Press) which lists some of the recent outrageous jury awards in the United S
Navigation must be simple. Since it's the backbone of your site, it's imperative that visitors be able to understand it. Here are two tips on how to make simplicity a reality in your site:1. Your link titles need to be understandable.Visitors need to know exactly what link to click on for the info they need. Unfortunately, visitors frequently get confused and don't understand what a link means. Consequently, they aren't sure what info they'll find at the other end of the link.Often, a link name that makes complete sense to you will mean nothing to the visitor. For example, I once used a link called "Resources" in the navigation bar of a site for a client. This section of the site contained various articles and links to outside sites with helpful information.However, after a little bit of testing, I discovered that most people had no idea what I meant by "Resources". They didn't know what kind of information was in that area. Also, when visitors tried to look for articles, they didn't think to check the Resources section.In other words, the link wasn't doing anyone any good.The difference between your understanding of a term and a visitor's understanding of t
Here are some examples of how you can be sued for Joint and Several Liability:
1. Your business partner commits theft, fraud, or a personal injury in the course of conducting business.
2. Your spouse is accused of theft, fraud, or a personal injury and the plaintiff sues the entire marital community (including you).
3. You render assistance to someone who was injured by another person and the plaintiff sues you along with the person who actually committed the injury.
4. A friend or relative borrows your car and gets into an accident. As the car's owner you get sued along with the driver.
5. Your company gets sued for sex discrimination committed by one of your employees and you get named as a defendant because it's your company.
6. Your real estate investment partnership, joint venture, or company gets sued by the federal or a state government because toxic waste is discovered on the property.
7. The IRS, or Revenue agency sues your partnership, joint venture, or company for tax evasion.
There are many more examples I could provide. The main thing is that you can be sued and become jointly and severally liable for an injury to someone without having been personally negligent. All that is necessary is that you were connected in some way. If you are dragged into a lawsuit and the other defendants are without assets or insurance, you may end up being held liable for the full amount of the judgment!
WHAT ABOUT INSURANCE?
Many lawyers recommend you purchase at least $1 Million insurance for each of your businesses, homes, land, cars, motorcycles, and boats you own.
This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford.
But, is that really enough?
$ MILLIONS CAN BE AT STAKE
Let's take a look at how large some of these lawsuit judgments can be.
There is a book entitled, The Professional Asset Protection Manual by Florida attorney Mark Warda (Galt Press) which lists some of the recent outrageous jury awards in the United
If you want to get an auto loan with bad credit you should understand that it is possible and that thousands of Americans every day are struggling to purchase a car even though their credit is not good enough for traditional car loans. So, given that many with worse credit scores achieve loan approval for bad credit car loans, you really have nothing to worry about. Don’t Be Taken In The problem is that very often those who have bad credit, due to being happy for getting finance for a car purchase don’t read the fine print of loan contracts or even knowingly close deals that end up being a heavy burden. The long term consequences of closing on these deals include debt accumulation on credit cards due to concentrating on paying the car loan and a bad credit score due to high debt to income ratio too.Getting an auto loan with bad credit shouldn’t mean that you have to accept outrageous terms and interest. Today, many banks, credit unions, and finance companies have specific programs in place to provide auto loans with bad credit specifically for those with poor or marginal credit scores.Three Tips For A Good Car Loan Chances are that you’ll be able t
5. Your company gets sued for sex discrimination committed by one of your employees and you get named as a defendant because it's your company.
6. Your real estate investment partnership, joint venture, or company gets sued by the federal or a state government because toxic waste is discovered on the property.
7. The IRS, or Revenue agency sues your partnership, joint venture, or company for tax evasion.
There are many more examples I could provide. The main thing is that you can be sued and become jointly and severally liable for an injury to someone without having been personally negligent. All that is necessary is that you were connected in some way. If you are dragged into a lawsuit and the other defendants are without assets or insurance, you may end up being held liable for the full amount of the judgment!
WHAT ABOUT INSURANCE?
Many lawyers recommend you purchase at least $1 Million insurance for each of your businesses, homes, land, cars, motorcycles, and boats you own.
This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford.
But, is that really enough?
$ MILLIONS CAN BE AT STAKE
Let's take a look at how large some of these lawsuit judgments can be.
There is a book entitled, The Professional Asset Protection Manual by Florida attorney Mark Warda (Galt Press) which lists some of the recent outrageous jury awards in the United
As I was preparing for a presentation recently, I was trying to figure out why small businesses have trouble marketing themselves consistently. If we know we need to be marketing, why don’t we just do it? Is it for a lack of planning or that we’re just not sure what to do or where to start?Yes, maybe. But in trying to figure out what those hurdles are that keep us from marketing consistently; I came up with two hurdles that I think might be as big as any other for most. Like a lot of things with regards to our business, if we’re aware of the hurdles that keep us from achieving effective marketing, then we can plan and act accordingly on how we can either go around or over them.So what are these hurdles? Well, they certainly aren't the only hurdles, but the two I keep running into time and again with many small businesses are Perfection and Fear of Failure. In fact, I'm sure they have played a part in delaying some of my own marketing including the launch of my web site and my monthly eZine. Let’s take a look at each hurdle and how we might overcome them.Hurdling PerfectionMany of us tend to be perfectionist in the things we do. You might say... "Whe
WHAT ABOUT INSURANCE?
Many lawyers recommend you purchase at least $1 Million insurance for each of your businesses, homes, land, cars, motorcycles, and boats you own.
This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford.
But, is that really enough?
$ MILLIONS CAN BE AT STAKE
Let's take a look at how large some of these lawsuit judgments can be.
There is a book entitled, The Professional Asset Protection Manual by Florida attorney Mark Warda (Galt Press) which lists some of the recent outrageous jury awards in the United
You've heard the sob stories.Seems like every business owner has his or her own story of working 18+ hours a day, seven days a week to get there business off the ground. If you get a group of business owners together, they all start moaning about how hard they work."I haven't had a day off in five years." one says."80 hours is a good week." another complains.Does it really have to be that way? Is that your business vision? The big question is, are you self-employed, or are you a business owner? They are not the same thing. If you are self-employed, your business depends on you.You are the person doing the work that brings in the money that pays the bills so that you can work even harder to do the work and pay the bills and on and on and on. If you are self-employed, don't be surprised if you are working more than employees.After all, you not only do the work of an employee, you also are responsible for all the support tasks that make that work possible. And that takes time.There is another way.Most likely, you started your business because you felt you had better skills or a better idea than other businesses out there. But you do not ha
This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford.
But, is that really enough?
$ MILLIONS CAN BE AT STAKE
Let's take a look at how large some of these lawsuit judgments can be.
There is a book entitled, The Professional Asset Protection Manual by Florida attorney Mark Warda (Galt Press) which lists some of the recent outrageous jury awards in the United States.
For example:
$84.5 million for children drowned and brain damaged in a swimming pool.
$49 million for a stillborn baby.
$41 million for a misdiagnosis of abdominal pain.
$5.87 million for sponsoring a party where a guest later caused an auto accident.
$986,000 to a woman who lost her “psychic powers” after a CAT scan.
$300,000 for slapping a daughter twice on the face.
$75,000 for spraying perfume on a person without permission.
$60,000 for cursing, which caused “emotional distress”.
Here are some other recent examples:
$12.7 million for a mistake in medication administered by a nurse.
$12 million to a doctor for failing to take a blood test for a rare disorder.
$7 million to a laborer who lost a limb at work on a construction job.
$160,000 to an employee who was “goosed” by fellow employees.
Don't forget the widely publicized $2.7 million award to Stella Liebeck (for her injuries from spilling some hot McDonald's coffee between her legs while driving).
In addition to the court award, you must pay $ Thousands to your defense attorney!
Don't forget the many hours you will spend meeting with your attorney, answering written questions (interrogatories) from the plaintiff's attorney, attending depositions where the plaintiff's attorney will grill you, attending court hearings (motions), and the trial itself.
Add all of the time and expense to the psychological and physical stress you will endear.
Just because I am using examples from the United States, citizens of Canada, Europe, Russia, Central & South America, and even communist China are being sued for similar injuries.
HOW CAN YOU PROTECT YOURSELF?
The best solution is to strip yourself of all assets and become what is known as "judgment proof" amongst the personal injury trial lawyers.
Most lawyers charge their clients no direct fee for filing a personal injury lawsuit. This is known as a "contingent" fee. It means that the lawyer will collect no fee unless he wins the lawsuit and can collect the court awarded judgment amoun
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