3 Things You Should Do to Prepare & Protect Yourself from a Lawsuit

Posted on: 5 April 2017

Lawsuits are incredibly common. There are many individuals who think that they will never find themselves dealing with a lawsuit, only to be disappointed to discover that they are dead in the middle of a dispute. The best thing that you can do for yourself is to be prepared. You need to plan and protect yourself as if a lawsuit is going to happen. That way if something does go south, and you are sued, you are at least protected. Here are some things you need to know.

1. Protect and Divide Your Wealth

One of the first things everyone should do is meet with an attorney to organize their finances. This is especially the case if you own or have a hand in a business where you could be sued. For example, if you have a side business where you create apps for people, you need to have that company in it's own LLC. The reason for this is that if someone were to be displeased with a service or a produce you provided and sued you for it, they could only go after the money in the LLC that dedicated to app development.

If you don't have an LLC and all of your money is together in your personal account, when you get sued they could go after your house, cars, retirement funds and so forth. You should always talk to an attorney about organizing your wealth in a way that it is protected from lawsuits.

2. Educate About the Risks

Another important thing you need to do is be open and upfront about risks. For instance, if you invite your church group to come over and swim in your swimming pool, you need to have everyone sign a waiver saying that they understand the risks. It should state that there is no lifeguard on duty, and they swim at their own risk.

By doing this you put the responsibility on them to take care of themselves. Then if something does happen, they can't blame you.

3. Talk to an Attorney Early

One mistake that people make is waiting too long to talk to an attorney. Don't let an attorney's advice be a last resort. If you get into a disagreement with another party, or if you think a lawsuit might be in the future, call an attorney. They can help you resolve it quicker, and can prepare you better.

By doing these things you can be better prepared for a lawsuit. Learn more about handling your case by contacting firms like Hardee and Hardee LLP.