Offshore Asset Protection and malpractice lawsuits

By Ron • December 7th, 2008

If you’re a doctor or physician you should know that the medical professional is one of the professions most prone to lawsuits. You put in all the hard long hours of medical school in order to graduate, and then you get a job and start saving lives day in and day out. You make a pretty good living from your efforts and the one day someone wakes up and sues you for all you’ve got because of a surgery where the patient had a 1% chance of making it alive but died even though you tried. Life sucks but that’s not what you’re going to tell the judge or jury when the papers come through from the lawyers, if you’re unlucky and your litigator wins the lawsuit you might just end up with nothing.

In today’s world you have to protect yourself from everything and as you progress in life this protection is required in every aspect of your life. Whether protection comes in an insurance policy for you or your car or this protection comes in the form of offshore asset protection. There are a lot of people hanging around with nothing better to do and lawyers who would relish the prospects of depriving you from your hard earned wealth in a court of law.

Different forms of offshore asset protection exist; you may set up an offshore professional corporation and tie the bulk of your assets into such a legal device. Other legal devices you may set up include offshore trusts which offer guaranteed asset protection in foreign jurisdictions. Any good consultant skilled in offshore consultancy will be able to suggest a number of mechanisms that will help you legally secure your assets from people who wish to take your wealth. Many purported consultants exist but you can easily separate the wheat from the chaff by asking about their track record and checking references from past clientele online.

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