b'THE OFFICIAL NFBA MAGAZINEHOW TO PROTECT YOUR ASSETSAMERICAN SOCIETY FOR ASSET PROTECTION LEGALLY SPEAKINGLarry OxehamO ne of the keys to learning how to protectStep 3. Construct a Theory of your business and personal assets fromLiabilitylawsuits is to understand how lawsuitsIfthepersonimmediately work. The proceedings of a lawsuit can be brokenresponsible for the loss or injury into six simple steps. does not have the ability to pay, the attorney will Step 1. Injury or Loss search for a deep-pocketed defendant and a theory The beginning of a lawsuit is an injury or loss ofof liability that can be developed against him or some kind.her, showing why that defendant should be held Step 2. Find a Defendant(s) Who Can Payresponsible. The success of the trial attorney is dependent upon this. Trial attorneys make up one Most lawsuits are done on a contingency basis,of the largest lobbyist groups in the country and so one of the first things an attorney does beforehave created laws to increase the level of vicarious accepting a case is to perform an asset search toliability. Vicarious liability means you can be held see if the defendant would be worth pursuing.responsible for the actions of others. Trial attorneys Attorneys search for a candidate with substantialhave worked hard to ensure that whoever has personal and business assets available for seizurethe money can be held responsible for negative and/or significant insurance coverage. All too often,outcomes through vicarious liability, even if they people are named as defendants in a lawsuit becausecommitted no wrong. of their ability to pay, not because of fault or error. continued on page: 1714 / FRAME BUILDER - VOL5 3'