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Asset Protection
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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 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.
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