Case Study Three

Julie and Mark: Unforeseen Danger - Surprise Litigation

Julie and Mark had worked for decades to get to the place they are in today-and it is a very good place. They had accumulated over $12M, having sold Mark's company, and were now smartly invested using state-of-the-art comprehensive estate planning techniques. For the first time in their 35-year marriage they were traveling the globe, spending time with their children and grandchildren, donating to organizations and foundations that sung to their hearts, and involved in some wonderful and fun leisure pursuits they had wanted to try out for years.

Then out of the blue, the buyer who purchased Mark's business several years ago sent a letter to Mark's lawyer informing them that several irregularities in their accounting had surfaced. If the buyer had known about this before purchasing the business, he would not have gone forward. The buyer wanted his money back plus damages and fees.

Having been advised by his lawyer to take the funds from the sale and put them into an offshore asset protection trust, the funds had been safely protected from a future legal calamity, including a "Buyer's Remorse." When Mark's lawyer informed the buyer's lawyer of the challenges that the buyer would encounter in trying to reach Mark's assets, the buyer took a token settlement and agreed not to bother Mark again. Without the asset protection trust in place, Mark would be defending a fraud lawsuit and risk having a court decide the buyer was entitled to a return of his money plus damages and costs. Was Mark smart to do the advanced planning? You bet he was.