Moreover, environmental legislation now generally imposes liability on property owners for environmental hazards on their properties, irrespective of whether such owners created the hazards or even knew of them. Insurance is no longer considered an effective shield against crippling civil judgements. Some insurance companies routinely deny coverage, making it necessary to sue just to get the protection you've already paid to have. The cost of premiums has risen dramatically, forcing many people to accept lower coverage and larger deductible amounts. Questions have arisen concerning the stability of the insurance industry as a whole, and of some individual carriers in particular.
Divorce is probably the most frequent source of unplanned liabilities.
Fewer than half of marriages entered into today survive more than five years. Divorce is often the single most financially devastating event of a person's life. Bridgestreet works with lawyers who have pioneered the creation of a growing area of law, now known as Asset Protection. Through simple planning, assets can be protected from unwanted and unexpected liabilities.