While the goal of the APS™ is to make sure a client can through education and the use of a “Rated” advisor become asset protected, the best asset protection plan in the world cannot prevent lawsuits. Good asset protection certainly can deter lawsuits, but anyone can sue anyone for anything. It might be a frivolous suit, but it can still be filed and still needs to be dealt with by the defendant.
From a defendant’s standpoint, having a case go to a “jury trial” is not good. Why? Because juries do strange things (look at the hot coffee case against McDonalds). We never want to leave things up to a jury if it can be avoided.
There are two main ways to settle a lawsuit before it ever gets to a jury’s hands; Mediation and Arbitration. Both are processes where the defendant and plaintiff try to settle their differences without going to court and in a financial manner that is acceptable to both sides.
Mediation is voluntary, and arbitration can be voluntary or mandatory. If a case is handled quickly and efficiently through either, the case can usually be settled for much less than it will cost both sides to go through a long litigation process and possible appeal process.
To learn various (17) different ADR methods including, medition and arbitration.
If you have a claim that you think could benefit by mediation or arbitration, please contact Asset Protection Society