Costa Rica Real Estate Investing Means Protecting Some Of Your Assets Offshore

President George W. Bush sat on the ‘The High Costs of Lawsuit Abuse‘ panel and said that “if we can achieve legal reform in America it’ll make it a better place for people either to start a business and/or find work.”

He added that the “cost of litigation in America makes it more difficult for us to compete with nations in Europe, for example.”

Why?

Because the USA is by far the most litigious society that there has ever been.

Many people are considering Costa Rica investments because the experts have been discussing the litigation explosion in America and it’s shocking costs.

According to Bob Nardelli of Home Depot who was on the panel; “The US tort system basically costs every American about US$2,400 a year, based on recent survey that we looked at…” And he added that “…while the lawyers are attacking corporate America, it’s corporate Americas that are suffering.”

Perhaps you should think of a Costa Rica real estate investments? Maybe a secure home in a gated community – where it’s easy to lock it up and leave it – for those winter vacations?

According to Philip Howard, the author of The Death of Common Sense, – “One out of seven obstetricians in this country are no longer practising…. That’s because of the direct cost of litigation in this country.”

This “tort-tax” has doubled since 1973 and some might say that this would mean that the problem is because Doctors and surgeons are making so many more mistakes than they have before but this is not true.

What’s happening is that lawyers are pursuing doubtful lawsuits and often winning outrageous settlements and awards.

Now you know why so many Doctors and Surgeons from the US and Canada have Costa Rica investments? I even sold my own vacation home in the country to the head of major hospital in New Jersey. These medical professionals have a great place to visit but they are also protecting their hard-earned assets offshore…

Some trial lawyers proceed with doubtful lawsuits and occasionally win outrageous awards. You may have read about the Blockbuster Video lawsuit where the attorneys kept more than $9,000,000.00 in fees and the people who had filed the lawsuit received a discount coupon for US$1 on future video rentals?

Did you hear about the drunk driver who was speeding and crashed? This drunk driver sued the engineering company that designed the road, he sued the contractor, he sued the four subcontractors and he sued the state highway department.

All of the defendants settled for US$35,000 five years later… That may sound cheap but…. The small engineering firm was overwhelmed with legal bills of more than US$200,000

In January 2000: Kathleen Robertson of Austin, Texas was awarded $780,000.00 by a jury after breaking her ankle tripping over a young child who was running around in a store.

The store owners were shocked at the verdict, because the child was the son of the woman suing them… Ms. Robertson.

Protecting your assets ‘offshore’ is not just for the mega-wealthy. Any person who is concerned about lawsuits should try and protect their assets in any legal way that he can.

Written by Scott Oliver, author of How To Buy Costa Rica Real Estate Without Losing Your Camisa and Costa Rica’s Guide To Making Money Offshore.

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.