Wednesday, 28 February 2018

Pros and Cons of In-House Attorneys

Our law firm is often hired by businesses to act as “General Counsel” and about 50% of the time our business clients have in-house lawyers that assist the business during its life-cycle. Defining what an “in-house” attorney does is nearly impossible because almost every such attorney has a unique role specific to that organization and its management team, but the effect of having an in-house lawyer is often the same.

Pros and Cons of In-House Attorneys

Business lawyers are trained to think about business issues differently than management, owners, accountants and other employees and can therefore be a major asset over time. However, bringing a business attorney into a business to generally help the business grow and prosper is often a big step because there are many pros and cons to having a lawyer around full time. The following is a list of a few such pros and cons to help companies sophisticate themselves about the decision to bring a lawyer onto the payroll:

Pros:

  • Contracts, legal analysis, negotiations and other tasks generally performed by a law firm can be started (and often finished) in-house for far less money than if the same was outsourced to a law firm that needed to get up to speed on everything.
  • Day-to-day interactions with a business lawyer can help to identify and expedite strategic change within a business.
  • Strategic risk can be more easily analyzed by a team that includes a lawyer that is highly sophisticated about the company.
  • Litigation strategy is easier to implement if it was designed by an in-house lawyer who knows all of the good and bad facts.
  • In-house business lawyers can bring credibility to a business and open doors that might otherwise be closed.

Cons:

  • Lawyers are expensive and are often among the highest paid employees at a company.
  • Lawyers are often very critical, risk-averse people that can slow progress if they act more as a fear monger than a strategic analyst.
  • Business lawyers’ opinions can sometimes conflict with those of management and cause strain in an organization.
  • In-house lawyers often know all of the secrets a business has and therefore can cause significant problems when exiting an organization.
  • In-house attorneys can become complacent in their positions rather than always keeping their legal skills sharp like a private practice attorney. This can cause a company to be blindly exposed to risk for long periods of time.

Generally it is best for a company to never wholly rely on the skills of an in-house lawyer because of the specialized nature of the position. Having the business’ attorney work with outside counsel from time to time can hedge the cons described above to some extent and will often keep the in-house attorney on his or her toes. Additionally, if you feel like your in-house or outside legal counsel is not quite meeting your expectations you should always interview other lawyers and law firms to see if there might be a better fit.

Any attorney in Utah can plainly see that fraud is still just fraud by any other name

Horizon Mortgage & Investment may have seemed like smooth operators, and they probably were for quite some time, having swindled at least $72 million from several hundreds of investors since 1997 in Kaysville, Utah according to Salt Lake Tribune article online. Run by Dee Randall, the “investment company” was recently ruled to be little more than a Ponzi scheme, which makes Randall’s actions fraudulent and illegal, though it doesn’t take an attorney in Utah to see that. Worse still for the investors, Randall filed for bankruptcy in 2010, effectively shortchanging anyone who unwittingly poured money into the scheme get less than 10 cents on the dollar back now.

Investors won’t give up so easily, though, and most have filed a lawsuit with an attorney in Utah “seeking millions in damages.” The suit is pending. But Randall’s scheme was sneaky, even from the beginning, and now, the “U.S. Trustee’s Office has found 20 other companies Randall had been involved with, rental income he had not reported, as well as creditors who were not notified of the bankruptcy filing.”

Serving for a general agent in Utah for Union Central Life Insurance of Cincinnati, Randall “had offices in Sandy, Kaysville, Woods Cross, Fruit Heights, and Logan, where he employed numerous subagents.” The better to trick you with my dear. Pitching life insurance alongside investments, they were already in violation of Utah law according to the lawsuit filed by a forensic accountant who took over Randall’s assets and companies at the request of the court. He found lies and deceit everywhere, but interestingly, there was unexpectedly more.

In his case, Randall didn’t rely totally on lies and secrecy. He actually “disclosed to some investors that he was going to use their money to pay what was due earlier investors,” and “warned that investors shouldn’t put money in they could not afford to lose.” Not only did such disclosures surely make him seem forthcoming and honest, they were what he hoped would pass for getting around securities laws. One attorney in Utah told a victimized couple “that the disclosures made Randall’s operation look like a ‘legal Ponzi scheme,’” according to court records.

But in truth, business lawyer in Utah worth her salt could tell you there is no such thing as a legal Ponzi scheme. “Utah law also says it’s illegal to operate a business in a way that defrauds investors,” so Randall wasn’t skirting any laws by disclosing his methods; he was just setting himself up for failure.

Which, depending on how you look at it, will come down with smashing consequences beginning June 30 of this year in the 3rd District Court in Salt Lake City. Randall “faces 22 charges of securities fraud and one of engaging in a pattern of unlawful activity.” As those with a flair for the dramatic might say, “the gig is up” for Dee Randall.

Free Consultation with a Utah Business Lawyer

If you are here, you probably have a business law issue you need help with, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Tuesday, 27 February 2018

Eliminate Medical Debt

Eliminate Medical Debt

When you speak with a bankruptcy lawyer about medical bills and how they can be a drain on you both emotionally and financially, you’ll find out what will work for you to remove that pain and that suffering.

Are Medical Bills Making You Sick?

For most, maintaining a low deductible medical insurance plan and putting away huge amounts of savings to pay off what seems like unlikely medical debts is unrealistic. When it comes to medical debt, no one is immune. Even the safest, healthiest people get injured in auto accidents or suffer from a whole range of health issues from heart attack to cancer. If you’re one of the many people affected by medical debt, keep reading – there is a cure.

The Condition

Here’s your current situation: you legally owe money to a creditor. If you’re falling behind on payments, it’s only a matter of time before they secure a judgment against you. Judgments allow your creditors to take your possessions by law – it could be 1/4th of each paycheck, money right out of your bank account, furniture, vehicles and even your home – whatever they want until the entirety of the debt (including building interest and legal fees) is satisfied. So the clock is ticking – but if collectors are demanding money you don’t have – literally adding insult to injury – you can find solace by filing for bankruptcy.

The Cure

At first bankruptcy may seem like an unattractive option – but so are most effect prescriptions. The point is, the cure is better than the alternative. Bankruptcy is often the best solution for people dealing with medical and credit card bills, payday loans, other unsecured loans, secured property that is no longer wanted, some taxes and more. And filing for bankruptcy can completely wipe away these debts in as little as 3 months. The bankruptcy code also protects your valued assets that could otherwise be in jeopardy. Plus, filing bankruptcy instantly stops all collection efforts against you – you won’t have to deal with harassing phone calls, judgments, or repossessions.

It pays to hire a bankruptcy attorney

At a Meeting of Creditors today, I heard this all too common refrain from a Trustee to a debtor:

“Why didn’t you hire a bankruptcy lawyer to help you with this??!”

I don’t know how often I’ve been in that same situation listening to those same words. Unlike Groundhog Day though, there’s no Bill Murray, this is no romantic comedy, and the results tend to be the same almost every time (and they are neither romantic nor funny). It only takes several hours for someone to learn how to file for bankruptcy and to throw together random paperwork to file a bankruptcy case, but it can take years and tens of thousands of dollars or more to try to fix and litigate the mistakes in the paperwork if not prepared correctly in the beginning.

And you can lose that amount, or more, in assets that could have been protected. It is hard to watch a debtor–and this could be you–learn that they will lose their home, money in their bank account, or a car they need to get to work because of an error by a preparer who has no expertise in bankruptcy.

The point of filing for bankruptcy is to help ease your financial and emotional burden. It is designed to give you a fresh start in life so that you can pursue your dreams anew and become an active contributor of society. It makes sense to hire a competent attorney to help you navigate through the process and to get a successful discharge of your debt.  The benefits of doing this far outweigh the affordable cost of hiring an experienced lawyer.

When thinking about filing for bankruptcy, it is important that you start your case correctly — most attorneys won’t even touch cases that someone else has worked on. Thus, finding an attorney who will take over your case at the point when you discover everything has gone wrong is incredibly difficult. Even if you do eventually find an attorney who doesn’t automatically tell you no, the fees they quote may be very high. And it may be up to four times more than how much it would have cost to have just hired them to do your case from the beginning.

You wouldn’t try to take out your appendix by yourself or hire an in-home caretaker to do it for you, right? No, you would go to the hospital and hire a surgeon, a specialist. So why would you trust your financial welfare to a non-expert? Being thrifty is an admirable quality, especially when money is tight. But as I frequently see in court hearings, pinching pennies by deciding to file your own bankruptcy case is like stepping over a dollar to pick up a dime.

We can work with you and offer a payment plan if necessary, but please get a reputable bankruptcy lawyer near you who can assist you from the very beginning.

Free Consultation with a Bankruptcy Lawyer

If you have a bankruptcy question, or need to file a bankruptcy case, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free initial consultation.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Monday, 26 February 2018

Embezzlement Attorney

Embezzlement is a white collar crime that involves the illegal taking or appropriation of another person’s assets. If you’ve been charged with a crime, call an embezzlement lawyer right away. Embezzlement charges can range from a minor amount of money to large amounts of cash and other holdings. Frequently, embezzlement charges arise in the context of a business in which an employee, executive or president has illegally appropriated funds for his or her personal use.

Embezzlement Attorney

Embezzlement can occur in any type of business, including banks, financial institutions, government offices and private retail businesses. These cases are often complex in nature and are best defended with the assistance of an experienced criminal defense attorney. There are a number of ways embezzlement cases can be settled or dismissed. Talk to our firm to discuss the options you may have, including paying back your employer, coming to an agreement or showing that the accusations are unfounded.

Time Is Of The Essence

If you have committed the crime of embezzlement or believe you may be the subject of a criminal investigation by state or federal agents, the best way to protect your rights is by being proactive. Retaining the service of an experienced criminal defense lawyer early in your case is extremely important.

In many cases involving a white collar crime, a resolution can be reached that results in no criminal conviction or minimizes the criminal penalties that might have resulted without the early intervention of a defense attorney. Sometimes it is possible to avoid contact with law enforcement entirely.

Breathalyzer Tests

Our firm knows how to handle the breath test results involved in your DUI case. Our aggressive DUI defense attorneys have experience with these tests, including detailed knowledge and understanding of the law as well as the science behind them. We are ready to fight for your rights against faulty or improper Breathalyzer test evidence.

Which Tests Are Used?

There are three main types of Breathalyzer tests currently in use in Utah:

  • Portable breath test or PBT (a field breath test model that only detects the presence or absence of alcohol)
  • Intoxilyzer 5000 (the breath test you see at most police stations)
  • Intoxilyzer 8000 (a portable model that is supposed to provide valid results that are admissible in court)

You have a right to refuse the portable breath test as well as any field sobriety tests, and our law firm can help you defend your rights if you have refused these tests before your arrest.

Dismissing The Charges

Because the implications for breath testing rely on perfect procedures and maintenance, if you were arrested for DUI based on Breathalyzer evidence, you may have a strong case to have the charges dismissed. Why?

  • Many officers are not certified to operate a Breathalyzer or they have an operating certification that has lapsed
  • Many of these machines are not calibrated properly or receive inadequate maintenance and inspection
  • Many procedural errors, such as PBTs that are conducted before a field sobriety test, can invalidate the results and may lead to your case being thrown out on those merits
  • Food and other substances can interfere with the BAC readings of the machine

Breath test evidence is notoriously unreliable. PBTs are only supposed to be used to confirm an officer’s suspicion that a driver has been drinking. Standard police procedure calls for a PBT to be used only after a field sobriety test has been administered. When officers fail to follow procedure, the entire case may be thrown out. This is why it is important to pay attention to the officer throughout your ordeal.

Free Consultation with an Embezzlement Lawyer

When you need help on an Embezzlement charge in Utah, Call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Chapter 13 Bankruptcy Compared to Other Debt Solutions

Chapter 13 Bankruptcy Compared to Other Debt Solutions

Chapter 13 bankruptcy is known as a reorganization bankruptcy because it allows you to file for protections under the Federal Bankruptcy Code while repaying your creditors; effectively reorganizing your debt. Because I am a bankruptcy lawyer, we file chapter 13 cases on a regular basis. A chapter 13 is very different from a Chapter 7 bankruptcy, and offers far greater benefits over third-party financial services such as debt consolidation and credit counseling.

What are the advantages of Chapter 13?

While many third party companies have sprouted up over the last several years claiming to work wonders with secured and unsecured debt, the power of the Federal Bankruptcy Code has been an established part of American society for decades. Many of the fly-by-night debt consolidation, debt settlement, and credit counseling programs make empty promises, but Chapter 13 bankruptcy is a proven and effective way to utilize federal laws to get out of debt.

The automatic stay

The instant your chapter 13 bankruptcy is filed, the automatic stay guarantees that collection efforts are stopped in their tracks. This has the effect of halting collection efforts from phone calls, lawsuits, garnishments, repossessions and even foreclosure. Debt consolidation programs on the other hand have no legal authority to stop any kind of collection activity. Furthermore, some unscrupulous debt consolidation firms have been known to take large fees and leave their clients to the mercy of the collectors when the inevitable garnishments and credit card lawsuits begin.

Asset Exemption

Unlike debt consolidation, Chapter 13 bankruptcy offers protection on secured assets for a total of over $1 million, as well as providing protection for unsecured debts of up to roughly $330,000. One can even exempt retirement accounts, ensuring a better financial future. While the process of reorganizing debt through bankruptcy can be considered a consolidation, it’s a world away from the financial service that seeks to take out an even bigger loan to cover debts. One of the widely criticized aspects of third-party debt consolidation is the practice of taking out a large home equity line of credit to cover unsecured debts. This is essentially trading debt on credit cards for a debt on one’s shelter and home. Chapter 13 bankruptcy offers a guided solution for people to pay down unsecured and secured debts without risking losing their home to foreclosure.

Reduced Payback Amount

While the exact amount depends on the Bankruptcy Court where it is filed, your debt can be reduced by as much as 90% through skillful negotiation by experienced attorneys. Debt consolidation does not reduce the principal owed, and there are additional fees included. Debt settlement may be able to reduce the amount of debt, but the amount of debt that is reduced is often subject to extensive IRS tax liabilities! Furthermore, these negotiations often require a lump-sum payment, and chances are if you’re struggling to make ends meet, you haven’t got thousands of dollars hidden in your mattress.

On Your Terms

Debt consolidation and credit counseling programs are often at the mercy of creditors. If the creditor decides to file a lawsuit, garnish wages, or attempt to repossess or foreclose on property, these services can only stand by and watch. Creditors maintain their power. Chapter 13 bankruptcy on the other hand puts the debtor and their attorney in control. Creditors are the ones who must comply with the program. In fact, they are prohibited by law from making attempts to collect their debts from the individuals involved – they get what the court gives them.

Limited Timeframe

Chapter 13 bankruptcy usually has a repayment period of 3 to 5 years that is set up in accordance with the individual’s ability to pay, income, assets, total debts and other expenses. Once this term is completed, any remaining debt liability is considered “discharged,” or wiped away for good. Debt consolidation and credit counseling can last for years without making a significant impact. Some of these organizations have even been sued by the federal government for taking their clients’ payments without getting them out of debt. Even the organizations that comply with the law do not always obtain consistent results for their clients, because they offer incremental steps for problems that often require immediate and significant action.

No Interest or Late Fees

As soon as Chapter 13 is filed, interest and late fees on most types of unsecured debt cease to accumulate from that moment on. Debt consolidation at its best can only reduce the interest rate. The same result can be accomplished by an individual simply calling their bank and attempting to negotiate a lower rate on an existing loan. In addition to that, the debt consolidation companies are receiving a portion of the funds, either directly or indirectly. Either way, it creates an incentive for the debt consolidation organizations to drag out the process. This is a contributing factor to why many debt consolidation plans fail.

Your Best Interests

When filing for Chapter 13 bankruptcy protection, your attorney has an obligation to always do what is right for you, the client. Violations of this are taken very seriously and can result in an attorney losing their license (being disbarred). This is why if you hire an attorney you can expect to see real results and not have to worry about a conflict of interest.

Pay Necessities First

Unlike a debt consolidation program, chapter 13 bankruptcy allows you to pay your most important bills first: your property and taxes. Unsecured debts get any leftovers after your vital bills have been paid. Since debt consolidation providers often only deal with unsecured debt, it can have the unwelcome effect of focusing an individual’s resources on credit card bills, while their property goes unpaid and potentially becomes foreclosed upon.

Free Consultation with a Bankruptcy Lawyer

When you are ready to file bankruptcy, call Ascent Law now at (801) 676-5506. Attorneys in our office have filed over a thousand cases. We can help you now. Come in or call in for your free consultation.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Sunday, 25 February 2018

Asset Protection with Swiss Banking

Asset Protection with Swiss Banking

Swiss banking is a really fantastic way to protect your assets on many different levels. I am not referring to UBS and Credit Suisse, but protection in conjunction with your asset protection plan. We are moving assets when we are talking about Swiss banking to a Swiss bank inside of your asset protection trust. This is the ultimate layer of protection in your asset protection plan. Not every lawyer in Utah can tell you about these things, but at Ascent Law, we take your asset protection strategy seriously.

Swiss private banking gives you possession physically outside of the country and legal title outside of your asset protection plan. You have control, but your assets are not there to be grabbed. It also does something else which I’ve become very aware of and concerned with in the last four years and that’s the actual safety of the banks and institutions we hold out money in.

Institutional Risk

I sent out a letter at the end of last year stating my concern around institutional risk. Institutional risk means that the bank that you hold your money in is not there one day or is in bankruptcy and you can’t get your money immediately or your money at all. Five years ago banking failures was something you would talk about in the context of the past. Since modern banking, modern financing, and modern governments we haven’t had any banking failures to speak or and certainly nobody lost any money.

When 2008 came around people lost money. Lehman Brothers and Bear Stearns went under. Many people lost lots of money during this time and are only getting a fraction of their money back. Anything less than 100% is unacceptable. One of my main concerns about US banks is the tier 1 capital ratios. Switzerland solves this because their banking system is incredibly safe. Their tier 1 capital ratios are five times what we have in the United States. There’s personal liabilities of the partners and executives of the bank for customer’s money.

Common Questions About Swiss Bank Accounts

What’s the minimum to open up a Swiss bank account?

  • The minimum is one million dollars, although an account can be opened with half a million dollars if the bank is aware that it is a starting balance and the customer is going to be adding more.

Do you pay taxes on a Swiss account?

  • Many people think or have been told that they don’t pay taxes on something until you bring it back to the US, but the truth is because the United States has worldwide taxation, you pay taxes on all the money you earn worldwide. If you have your money in a Swiss bank and you don’t earn any dividend or interest you don’t pay any taxes, but if you do the Swiss bank will issue you a 1099 just like a US bank would.

How many different currencies can you hold in a Swiss bank account?

  • You can hold 22 different currencies in your Swiss account. This can be a combination of all the hard currencies around the world as well as just one or a few. You also have the luxury of holding individual physical things in your own segregated vault or box.

Although it’s very difficult for a US citizen to get a Swiss bank account, for our clients we still are able to. I recommend it because of the tremendous benefits that come with it.

Free Initial Consultation with an Asset Protection Lawyer

When you are ready to start your asset protection strategy, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Litigation Law Firms

In today’s litigious society, it is an almost certainty that everyone knows someone who has battled through some legal obstacle. We are a litigation law firm that helps people just like you recover from loss or exercise your rights under the law. Another almost certainty is that, with tens of thousands of civil lawsuits filed every day, chances are your turn is coming, if it hasn’t already happened.

Why is this so? Why has litigation increased so dramatically in just 50 years or so? Is it because Americans are injuring each other more than we did two generations ago? Hardly. The root problem, unfortunately for America, lies elsewhere.

A more likely scenario is that, as America grew rich beyond the wildest dreams of our Founding Fathers, the meritocracy that had been “The American Way” for more than 200 years gave way to something else.

Litigation Law Firms

It may be that life had become increasingly easy for most Americans. Even as early as 1960, President John Kennedy saw something corrosive happening to the character of America and Americans, when in his Presidential Inaugural Speech he said, “Ask not what your country can do for you. Ask what you can do for your country.”

So affluent has America become that Americans have come to believe increasingly that every problem can be solved with money. Ignored is the real tragedy of modern America. As it has grown rich and richer, our country has become more and more removed from the ethos of personal responsibility and accountability that made America strong, powerful and respected. No longer self-reliant, Americans have begun seeing themselves as victims of every mishap and misfortune that comes their way. They have come to believe that they have the right to sue for every right they think they have. Forgotten or ignored is the fact that with every right – every freedom, if you will – comes a corresponding responsibility, and that the two are inseparable.

Americans have come to believe that nothing is their fault; that someone else is always to blame. They also have a growing sense of entitlement to compensation from anyone and everyone or any entity or entities that may have contributed in any way, direct or otherwise, to any injury, real or not, regardless of personal fault.

Seizing on society’s growing sense of victimization and entitlement, predator-attorneys helped convince much of the public that it has a “right” to sue neighbors, friends, even family members and employers, doctors, businesses and industries for whatever “wrongs” may occur.

Through advertising, media hype and the actions of lawyers and courts, much of society has been convinced that victimization and entitlement are normal, acceptable forms of behavior.
Accordingly, we have been taught that harsh, aggressive, and vengeful pursuit of cash compensation for real or imagined “wrongs” is the new “American Way.” And it is as American as baseball and apple pie.

Trial Lawyers in Utah

Worse yet, when victimization is rewarded, it becomes legitimized and reinforced in ways that ultimately are destructive to the so-called “victims” and to society as a whole.

Fifty years ago, most of our parents or grandparents wouldn’t know how to find a lawyer let alone engage one. You just didn’t sue anyone. It wasn’t done. If you got injured, insurance would cover the claim or the offending party would pay the cost of the injury, if you were lucky. Everyone involved chalked up such experiences to the school of hard knocks and went on with their lives. We used to think, accidents happen! No one thought about punitive damages or compensation for trauma, mental anguish, or emotional distress. No one even knew what those terms meant. Not so today.

Confronted by the overwhelming litigation that surrounds us all and the disdain society feels toward lawyers, it is no wonder a poll by Harris Interactive concluded that 54% of those surveyed do not trust the legal system in America, while 83% believe the system makes it too easy to file frivolous lawsuits. In another Harris survey, only about 11% of the public said they had confidence in America’s law firms, which is only slightly higher than confidence the public has in the two lowest rated institutions surveyed – Wall Street and Congress. Even more revealing than the public’s negative attitude toward law firms is a Gallup poll that ranked lawyers next to last in honesty and ethics – just a hair above used car dealers. My, how far the mighty have fallen!

Despite these deep-felt negative apprehensions about the law and lawyers, an American Bar Association survey of its members incongruously indicates that 80% of the respondents think that, “In spite of its problems, the American justice system is still the best in the world.” Now that’s denial. “Of course, these poll results were reported by the news media, so they could be wrong,” says Dave Barry, the popular American satirist. “There might not actually have been any polls; it’s possible that some reporter just made the whole thing up. But I don’t think so.”

Despite such broad-based and growing public distrust of the civil justice system and disdain for lawyers, the public nonetheless appears undeterred in its headlong rush to get whatever it can from whomever it can.

Free Initial Consultation with a Litigation Lawyer

When you need a litigation law firm to help you with a lawsuit, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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