Working hard, investing carefully and living sensibly is no longer a reliable formula for financial security.
Today a single misstep can cost you everything. A simple error in judgment, a moment of inattention, an ill-chosen word, even a remote and innocent involvement in some mishap can place everything you own at the mercy of a state or federal court. There someone would explain how badly he had been treated and would plead for the judge to use your money to compensate him.
The threat of litigation was not always the terror it has become. In years gone by, the willingness and ability of the courts to award damages was limited by narrow and well established standards. Courts, legislatures and the public seemed to appreciate the danger of inviting the legal system to right every wrong and soothe every hurt. They knew that too much court-room justice would teach people to seek out grievances and exaggerate their complaints.
Times have changed. Too many of today’s American judges are willing, even eager, to stretch law and precedent to console any victim of injury, disappointment or bad luck. If you are even distantly associated with the victim’s problem, your assets may be tapped to pay for the court’s generosity.
Malpractice and other liability insurance provide only limited protection against losing everything in a lawsuit. No matter how much insurance you carry, someone may sue you for more. And the insurance you buy for protection can attract lawsuits — by guaranteeing prompt payment of the judgment every potential litigant hopes to win.
The Model Offshore Trust has been designed to give you an extremely high degree of safety amidst today’s explosion of litigation, most importantly through its character as a discretionary trust.
By funding the Trust early, before you are attacked by a predatory lawsuit, and by locating your Trust in a jurisdiction whose laws provide certainty, you can make it virtually impossible for any potential future creditor of your own or any creditor whatsoever of other members of the Beneficiary Class to reach the assets of the Trust.
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