Los Angeles, CA (PressExposure) November 19, 2008 -- The average person in the United States today experiences five lawsuits in their lifetime, says asset protection attorney, Jay Mitten. The odds are that one of these will result in the loss of the victims entire assets, including their life savings. "Our mission is to keep that from happening to our customers," states Kevin Wessell, a renowned asset protection expert and CEO of Offshore Company, an asset protection company in business for over 30 years. âIf you have assets, including cash, stocks, property, businesses and assets under other family members names, then you risk losing everything you own by a single lawsuit or judgment brought against you,â warns Mr. Wessell.
âEveryone is vulnerable and everything you own can be taken away in a split second by one simple court judgment brought against you. Think of an everyday situation that can happen to anyone. You are driving your car, minding your own business when suddenly you are involved in an accident. The other driver decides to file a lawsuit against you. The plaintiffâs attorney not only investigates what your insurance policy covers, but what your assets are worth, including money in the bank, stocks, home, properties and businesses you and your family own. The plaintiffâs attorney now has an idea how much you are worth and how high they can set the lawsuit. In this simple everyday situation, one split second (the accident) could cause the loss of everything you and your family own,â cautions Mr. Wessell.
How could a person lose everything they own from a lawsuit such as this? Isnât that what auto insurance is for? âAuto insurance, similar to any other type of insurance, is merely the first layer of protection, covering a set amount of money filed from a claim. If the accident is minor and the victim is a good ethical citizen, then everything is covered. However, we are living in a dangerous world where opportunities to take advantage of a persons misfortune flourish and attorneys need to pay their rent and put food on the table. Even people that ordinarily wouldnât think of suing you will certainly be motivated once an attorney shows them how much money they can get from a lawsuit. This lawsuit can likely go far beyond the limits of the insurance policy that is meant to protect you. And what are the limits? As high as the assets of the defendant can cover,â Explains Mr. Wessell.
Offshore Company has helped many thousands of clients with asset protection services including celebrities, business executives, medical professionals, attorneys and everyday people just trying to make a living and build a nest egg. One of Offshore Companyâs clients included a Los Angeles surgeon who was in the middle of eight breast implant lawsuits after it was found that silicone had leaked due to the manufacturersâ design. This manufacturer had to file bankruptcy. Since the manufacturer was no longer available to be sued, the lawyers went after the surgeon himself, who wasnât even at fault.
The surgeon had to file bankruptcy to clear away the lawsuits, once this was done, his assets were under the jurisdiction of a licensed and bonded foreign trustee outside of the United States courtâs jurisdiction. The trustee refused to release the funds to the surgeonsâ legal enemies. As soon as the bankruptcy removed the debts and liabilities of the surgeon, the foreign trustee released the funds back to the surgeon.
The advantages of setting up a Cook Islands trust compared with a domestic trust are the powerful asset protections the Cook Islands trust provides. With a domestic trust, the trust is required to follow the orders of the U.S. judge and if these orders include turning over the trusteesâ entire assets to their legal enemies, then the trust must obey. The Cook Islands trust however is not required to obey the orders of the U.S. judge and the Cook Islands offers a host of additional protections for the trust that simply do not exist anywhere else in the world.
For more information about offshore trusts including the Cook Islands trust, call Offshore Company toll free at: 1-800-COMPANY (1-800-266-7269) or visit: http://www.offshorecorporation.com/offshore-trusts/CookIslandsTrust.aspx
About Offshore Company Established in 1977, Offshore Company serves businesses and individuals by providing asset protection services, creating offshore companies, trusts and offshore banking services.
Offshore Company is based in the Los Angeles area at 28015 Smyth Drive, Santa Clarita, CA 91355. Telephone number for U.S: 1-800-266-7269. International telephone number: 1-661-253-3303. The website is: http://www.OffshoreCompany.com
Offshore Company is a document filing organization and is not a law firm or accounting firm. The information presented is designed to provide accurate and authoritative information with regard to the subject matter covered. It is presented with the understanding that the organization is not engaged in rendering legal, accounting, or other professional advice. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.