Kevin Wessell LEGAL MATTERS

 
 

In this article, Kevin Wessell discussses Legal matters, lawsuits and attorneys, which are are big parts of the American experience. Wessell, who has been in the asset protection business business since 1987, says that the United States has five percent (5%) of the world’s population, seventy percent (70%) of the world’s attorneys and a staggering ninety-six percent (96%) of the world’s lawsuits.


So, in the US it’s not a matter of if but when you are going to get sued. The average person suffers six (6) lawsuits in his or her lifetime according to asset protection attorney Jay Mitten, who lectured throughout the country on the evils of the legal system and how to protect yourself from legal attacks. In California and Washington DC the average number of lawsuits person is seven (7) he says.


One big secret, according to asset protection attorney Arnold S. Goldstein (d. 2010) is to move to a state that offers 100% homestead protection, where you can own a house of unlimited price and enjoy protection of its entire value. Texas, Florida, Iowa, South Dakota, Kansas, and Oklahoma offer such protections (to certain land sizes, such as one acre in town and 160 acres in a rural area, for example). Moreover, Texas, Pennsylvania and Florida have laws preventing wage garnishment.


There are ways to live in perfect peace and harmony for decades, even in the unfortunate event of a court judgment.  “The courts understand that a person still needs to make a living, eat, and provide food and shelter. So there are provisions in the law to protect working families from the ravages of lawsuits.,” says one attorney.


There are also corporations, LLCs and trust that can shield your own hard-earned money from evil attorneys. By putting assets into certain legal tools such as trusts for a beneficiary, such as your children or others, you can keep assets protected from creditors. Some states, such as Alaska, Delaware, Nevada and others have recent laws allowing self-settled trusts that protect assets from creditors even if you establish the trust and remain a beneficiary.


In the prior 10 years, over one billion dollars flowed out of the lawsuit-riddled United States into international trusts and bank accounts such as Nevis, Cook Islands, Bahamas and Belize, which all allow the use of self-settled spendthrift trusts. There are many reasons for doing so besides asset protection.


First, if you do a search for the world’s strongest, safest banks, the US does not fare very well. According to Global Finance, out of 50 of the world’s safest banks, the top US bank is only number 29 on the list. In fact, a measly five (5) US banks appear on the list. Most of the safest banks in the world are in Europe, Australia, Canada and Asia. “Many people who are running away from the US with their money and turning to offshore banking because they don’t feel safe having their money in US banks. After all, the US is by far the most in-debt ountry in the world,” said one European financier.


There were no US bank failures in 2005. There were no bank failures in 2006. There were only three (3) US bank failures in 2007. But in 2008, 2009, 2010, 2011 and 2012 there were a whopping 465 US bank failures. There have never been so many bank failures in a five-year period of time in US history, except during the Great Depression when an estimated 9,000 US banks failed, 4,000 in 1933 alone and the S&L crisis of the 80s and early 90s. The largest bank failure in US history was Washington Mutual (WaMu). Washington Mutual failed in 2008. The bank reportedly had over $300 billion in assets at the time if its failure.


Year - Number of US Bank Failures

2013 - 12
2012 - 51
2011 - 93
2010 - 157
2009 - 140
2008 - 30
2007 - 3
2006 - 0
2005 - 0
2004 - 4
2003 - 3
2002 - 11
2001 - 4
2000 - 7
1999 - 8
1998 - 3
1997 - 1
1996 - 6
1995 - 8
1994 - 15
1993 - 50
1992 - 181
1991 - 271
1990 - 382
1989 - 534
1988 - 470
1987 - 262
1986 - 204
1985 - 180
1984 - 106
1983 - 99
1982 - 119
1981 - 40
1980 - 22
1979 - 10
1978 - 7
1977 - 6
1976 - 17
1975 - 13
1974 - 4
1973 - 6
1972 - 2
1971 - 7
1970 - 7
1969 - 9
1968 - 3
1967 - 4
1966 - 7
1965 - 5
1964 - 7
1963 - 2
1962 - 1
1961 - 5
1960 - 1
1959 - 3
1958 - 4
1957 - 1
1956 - 2
1955 - 5
1954 - 2
1953 - 2
1952 - 3
1951 - 2
1950 - 4
1949 - 4
1948 - 3
1947 - 5
1946 - 1
1945 - 1
1944 - 2
1943 - 5
1942 - 20
1941 - 15
1940 - 43
1939 - 60
1938 - 74
1937 - 75
1936 - 69
1935 - 25
1934 - 9

As you can see, the worst single year for bank failures since the introduction of the FDIC came in 1989. This was at the height of the savings and loan crisis in the United States, and was also the same year that the Resolution Trust Corporation (RTC) was formed. So, placing funds into a bank outside of the US is not only a positive step to keep funds away from lawsuits, but by choosing the proper bank, it also may be a much safer place for your money.

Summary

To recap, he highest number of bank failures in one year since 1900 was 4,000. This took place in 1933. In 2005 and 2006, there were zero (0) bank failures in the United States. A rash of bank failures occurred in the late 1980s and early 1990s during the S&L crisis. Another banking catastrophe happened from 2008 to 2012 (and possibly 2013) due to the “great recession of the real estate crisis.

So, legal matters can be managed even after one is hit by a judgment. Put yourself in a position of strength by moving your money and yourself to safer climes. 


Kevin Wessell has assisted client with legal matters for years and has advised companies such as Companies Incorporated and 1-800-COMPANY, providing advanced asset protection from lawsuits.


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The United States has five percent (5%) of the world’s population, seventy percent (70%) of the world’s lawsuits and a staggering ninety-six percent (96%) of the world’s lawsuits. “



” ...out of 50 of the world’s safest banks, the top US bank is only number 29 on the list. In fact, a measly five (5) US banks appear on the list. Most of the safest banks in the world are in Europe, Australia, Canada and Asia.”


”Many people are running away from the US with their money because they don’t feel safe in with US banks...”

 

Protecting Yourself From Lawsuits

Einstein