Monday, August 11, 2014
#How to Gain Freedom from Lawsuits
News
The Cal State
Companies: Center for Real Estate
Studies ¨ Cal State Properties ¨ Cal State Investment LTD Partnership
Media
Contact: The Center for RE Studies For:
Immediate Release
#How to Gain Freedom from Lawsuits
PAINTING A TRUE PICTURE OF LITIGATION
In my attorney’s office hangs a picture depicting a farm
scene entitled “Litigation.” In the middle of the picture is a drawing of a
cow. At one end of the cow is a very angry man gripping the cow’s horns and
trying to pull the cow toward him. His caption reads, “The Plaintiff.” At the
other end is another very angry man tugging on the cow’s tail trying to move
the cow in his direction. His caption reads, “The Defendant.” In the middle,
sitting on a stool, is a well-dressed man with a big smile on his face, milking
the cow. His caption reads, “The Attorney.” And so it goes!
There are two unique aspects of the U.S.
Then there is the “one-way” fee system, which means the
plaintiff collects costs and fees from the defendant if the plaintiff wins. A
successful defendant receives nothing. Defending a case can cost thousands of
dollars. Regardless of its merits, defendants will usually end up making a business
decision and will settle the suit out of court.
A movement requiring disputing parties to arbitrate their
disputes is winding its way through the legal system. I hope it takes hold and
is soon adopted by the entire legal profession. Arbitration generally costs less,
is quicker, and it is not as likely to cause the major disturbances brought by
lengthy court trials. An experienced judge hears the facts and, based on a
legal interpretation of the law, makes a decision. The judge doesn’t get
involved emotionally, and the decision is based on the judge’s comprehensive
knowledge of the law. Because arbitration tends to reduce attorney fees, the
movement is slow in coming. In the interim, you must take measures to protect
yourself and your assets.
PROTECT YOURSELF
Your best safeguard is to have no attachable assets. This
can be accomplished by creating an estate plan that transfers all your assets
into a family-limited partnership. It is best to make the transfer before the threat
of a lawsuit and/or actual judgment is rendered against you.
Unfortunately, litigation has become a way of life in this
country. Both time and money are lost because of this national pastime. There are
over 16 million lawsuits filed each year in this country. More than 70 percent
of the attorneys in the world live in the United States
ABOUT THE AUTHOR:
Eugene E. Vollucci, is considered to be one of the foremost
authorities on real estate taxation and investing and has authored four book
in these fields. He is the Director of
The Center for Real Estate Studies, a real estate research association. To
purchase the #Stop Lawsuits Cold CD/ Workbook and to learn more about the
Center for Real Estate Studies, please visit our web site at http://www.calstatecompanies.com
###
News
The Cal State
Companies: Center for Real Estate
Studies ¨ Cal State Properties ¨ Cal State Investment LTD Partnership
Media
Contact: The Center for RE Studies For:
Immediate Release
#How to Gain Freedom from Lawsuits
PAINTING A TRUE PICTURE OF LITIGATION
In my attorney’s office hangs a picture depicting a farm
scene entitled “Litigation.” In the middle of the picture is a drawing of a
cow. At one end of the cow is a very angry man gripping the cow’s horns and
trying to pull the cow toward him. His caption reads, “The Plaintiff.” At the
other end is another very angry man tugging on the cow’s tail trying to move
the cow in his direction. His caption reads, “The Defendant.” In the middle,
sitting on a stool, is a well-dressed man with a big smile on his face, milking
the cow. His caption reads, “The Attorney.” And so it goes!
There are two unique aspects of the U.S.
Then there is the “one-way” fee system, which means the
plaintiff collects costs and fees from the defendant if the plaintiff wins. A
successful defendant receives nothing. Defending a case can cost thousands of
dollars. Regardless of its merits, defendants will usually end up making a business
decision and will settle the suit out of court.
A movement requiring disputing parties to arbitrate their
disputes is winding its way through the legal system. I hope it takes hold and
is soon adopted by the entire legal profession. Arbitration generally costs less,
is quicker, and it is not as likely to cause the major disturbances brought by
lengthy court trials. An experienced judge hears the facts and, based on a
legal interpretation of the law, makes a decision. The judge doesn’t get
involved emotionally, and the decision is based on the judge’s comprehensive
knowledge of the law. Because arbitration tends to reduce attorney fees, the
movement is slow in coming. In the interim, you must take measures to protect
yourself and your assets.
PROTECT YOURSELF
Your best safeguard is to have no attachable assets. This
can be accomplished by creating an estate plan that transfers all your assets
into a family-limited partnership. It is best to make the transfer before the threat
of a lawsuit and/or actual judgment is rendered against you.
Unfortunately, litigation has become a way of life in this
country. Both time and money are lost because of this national pastime. There are
over 16 million lawsuits filed each year in this country. More than 70 percent
of the attorneys in the world live in the United States
ABOUT THE AUTHOR:
Eugene E. Vollucci, is considered to be one of the foremost
authorities on real estate taxation and investing and has authored four book
in these fields. He is the Director of
The Center for Real Estate Studies, a real estate research association. To
purchase the #Stop Lawsuits Cold CD/ Workbook and to learn more about the
Center for Real Estate Studies, please visit our web site at http://www.calstatecompanies.com
###
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