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High Litigation Risk Professions

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Are You at Risk?

Asset protection trusts are great for anyone with assets they want to protect, but they are especially critical for people who have a higher risk of being sued.

These include:

  • Small business owners
  • Doctor’s
  • Entrepreneurs
  • Real estate professionals
  • CPA’s and auditors
  • Financial planners
  • Brokers

Some interesting resources to review are:

“What Are My Chances of Getting Sued? The threat of a lawsuit is very real: over 100 million cases are filed in US state courts every year.”

("Small Business Lawsuits: What Are My Chances of Getting Sued?" from "RocketLawyer.com")

“Over 50 percent of all civil lawsuits target small businesses annually”

("Common Frivolous Suits Filed Against Small Businesses" from "Law Offices of Richard Palumbo, LLC")

“Litigation . . . impossible to plan for, but inevitable for most businesses. Statistics show that somewhere between 36%-53% of small businesses are involved in at least one litigation in any given year and 90% of all businesses are engaged in litigation at any given time. At some point, it’ll likely be you and your business in the trenches.”

("You're Going To Get Sued - Here's How Not To Get Screwed" from "Forbes.com")

“One day you got a call from your attorney. He informed you that one of your employees attempted to call his coworker regarding a meeting while he was driving. Right when he took his eyes off the road, he crashed into the car in front and severely injured the 78-year-old driver. After a series of trials, the court found you liable and the jury awarded $21 million against your business. While the legal fees started to build up, you watch powerlessly as your whole life’s work evaporate before your very eyes.” This example might sound like an over exaggeration but is in fact just one example of very real cases.”

("Frivolous Lawsuits" from "USFEF.ORG")

“Slip and falls account for around 8.9 million emergency department visits each year. Potential damages available in a slip and fall lawsuit include compensation for medical bills that result, any ongoing medical treatment, lost income due to missed work, as well as compensation for non-economic damages such as pain and suffering or loss of quality of life.”

("Slip and Fall Facts and Figures" from "Attorneyguss.com")

“CDC statistics indicate that the medical cost for these fall injuries top out at $34 billion every year…it’s easy to see why just one slip and fall injury can be a huge financial burden for those responsible.” “Your liability or workers compensation insurance will (may) shoulder a good portion of these costs, but the claim for a single incident may be much higher than you’d expect.”

("Shocking Slip and Fall Statistics" from "HeatTrak Commercial Blog")

“Real Estate Litigation disputes are multi-faceted”

("Real Estate Litigation" from "Savitt Bruce & Willey LLP")

“In today's world, anyone who performs a professional service is a prime candidate for a lawsuit. The accounting profession is no exception.”

("Strategies for litigation risk control" from "The CPA Journal")

“Despite tremendous interest in medical malpractice and its reform…the cumulative incidence of being sued during the course of a physician's career”…2.6% and 18.9% of physicians annually had a claim.”

("Malpractice Risk According to Physician Specialty" from "US National Library of Medicine")

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