Collapse of Major Law Firm -- Another Reminder That Disaster Can Strike At Any Time
As reported by Peter Lattman in The New York Times yesterday and today, a major New York law firm -- Dewey & LeBoeuf -- is on the verge of bankruptcy. The firm was aiming to become a global powerhouse in corporate law. At its peak, it had more than 1,300 lawyers in 26 offices all over the world. It appears to have taken on too much debt; expanded too rapidly; and is on the verge of collapse.
Many individuals and business have gone bankrupt in recent years. The collapse of a giant international law firm is a grim reminder that any of us can suddenly find ourselves in totally unexpected financial trouble. Having a reasonable asset protection plan in place prior to any such problems can be a huge benefit. If even a giant law firm can collapse within a very short period of time, it is obvious that no business or individual is immune from unexpected financial distress.

Most of us now have multiple on-line accounts that require some sort of password in order to access that account. Concerns about privacy and protecting assets make us inclined to keep these passwords secret. Unfortunately, very few people consider what happens if they die and no one can access their on-line accounts.
Being named as a defendant in a medical malpractice case can be emotionally devastating to a physician -- even if the physician is only peripherally involved in the case. Very few people fully appreciate how troubling it can be for a doctor who is named in such a lawsuit.