Asset protection is more important and essential than ever. With the economy the way it is, people will sue for just about anything. Below are some amazing outcomes in which millions of dollars have been awarded for lawsuits. These awards stress the need for asset protection.
Asset Protection: Top 12 Jury Awards That Reinforce the Need for Asset Protection
There have been a number of jury awards that reinforce the need and importance of asset protection. Some extreme examples are highlighted below and these are some of the rewards that can come down against your private party clients if they have not taken steps to protect their assets.
- $2.7 million was awarded to a woman in New Mexico after she was burned by a cup of coffee from McDonald’s that she claimed was too hot.
- A jury in New Hampshire ordered an apartment building owner to pay $2.1 million to a woman that was bitten on the legs and arms by a friend’s pit bulldog. The plaintiff claimed that the owner of the building instead of the friend was responsible for the dog attack.
- A construction worker in Virginia who refused to allow doctors to reattach his hand that was severed was awarded $3.3 million. The worker intentionally cut his hand off with a power saw.
- A secretary in New York was awarded $5.3 million for a claim against the Digital Equipment Corporation, stating that her keyboard was responsible for her development of carpal-tunnel, which is a known repetitive stress injury.
- In Pensacola, FL, Pedro Duran got drunk one night and staggered home in the wee hours of the morning. While heading home, he passed out on the railroad tracks. A train later passed by and cut off his arm. He sued the railroad and was awarded $900,000. The jury concluded that the railroad was negligent.
- $216 million was awarded to a client who suffered brain damage when a licensed ER attendant misdiagnosed a stroke as being a sinus infection.
- A nursing home was sued because a resident was beat up by their roommate. The patient was awarded $160 million.
- An employee sued a company for ethnic discrimination and harassment. It was a private company and the employee was awarded $61 million.
- $46 million was awarded when a car exploded after being hit by a private trucking company driver. The suit was not against the manufacturer of the vehicle, but against the trucking company the driver worked for.
- $44 million was awarded to a Florida real estate developer for interference with contract when he muscled out of the deal.
- The family of an 82 year old cancer patient received $606 million after the patient died from an overdose of chemotherapy medication.
- $164 million was awarded to a mother when she sued a barricade company that placed barriers between a construction site and traffic. She claimed that the barriers forced her child to walk on the street in traffic. The child was hit by a car. The mother claimed this would not have happened if the barriers did not force the child to walk in the street.
APS™ members are trained in effective asset protection techniques and are involved with trusted and credible advisors across the country.
Call Estate Street Partners® to learn more about the UltraTrust® irrevocable trust today for a free, initial consultation on how you can protect your assets, avoid Medicaid spend down problems, avoid the estate taxes and gift taxes to transfer your assets to your beneficiaries and other advanced tax strategies to save your wealth for the next generation.