This is a review on Lodmell & Lodmell, an law firm that specializes in asset protection from lawsuits. According to their website, they say they “use asset protection tools and methods… [to]… protect your assets from attack…” Like our organization that has full-time licensed asset protection attorneys on staff, their firm does as well.
Our CEO has met Douglass Lodmell and Gary Lodmell, its founders. He thinks very highly of both gentlemen and found them very warm and kind. We have nothing but positive things to say about the firm and the personnel we have met. Incidentally, Douglass Lodmell is a licensed pilot, as is our CEO.
Lodmell & Lodmell Co-Founders
According to the website, Douglass Lodmell was born in Geneva, Switzerland. He has a JD from Cardozo School of Law. He also has an LLM degree in taxation from NYU School of Law. This degree gives him specialized knowledge, that most attorneys do not have, in the field of taxation. The Lawsuit Lottery: The Hijacking of Justice in America is a book that Douglass wrote. Douglass Lodmell has also been a guest speaker at many professional events. As a side note, Douglass also has a very beautiful family who our CEO had the privilege of seeing at a recent asset protection conference.
Gary L. Lodmell, father of Douglass, has practiced business law as well as finance, and estate planning and asset protection for about half a century. Gary received his law degree attending Catholic University of America. Gary has also conducted seminars and workshops. Additionally, he has taught at the University of Phoenix, Phoenix College, the American Graduate School of International Management, and Yavapai College.
Asset Protection Strategies
When reviewing their website, we see that Lodmell & Lodmell uses a series of asset protection strategies that may include the use of offshore trusts. They also offer what one might call a domestic/offshore hybrid asset protection trust. A limited partnership, that can offer charging order protection, is one tool discussed on their website. They cover LLCs, both domestic and international as well as Medicaid and other trusts.
Their website states that asset protection removes the economic incentive someone to sue you. It can also take the wind of the sails of a plaintiff’s attorney. The Lodmell & Lodmell website indicates that, whereas this concept is simple, how you go about accomplishing it is not.
They go on to say that the ideal manner in which to protect your assets is to make yourself less attractive to plaintiffs and would-be litigants. They state that the plan needs to show the court that you have not retained sufficient control of the assets for a judge to demand the debtor to turn them over to a judgment creditor.
In addition, their website says, as is our sentiment, that asset protection is a balancing act. It may give some control to the judgment debtor, but not enough that the courts will force the handover of assets.
The above is our interpretation of information found on their website as well as experiences with the firm and its attorneys. It may or may not reflect the exact intention of their past or current tools, backgrounds or strategies.
Some may consider Lodmell & Lodmell competitors of ours. We consider them industry friends. Though our organization and our in-house staff attorneys do want your asset protection business, we feel if you were to choose their firm you would also be in good hands. They are a very fine organization, in our view, with well-respected leaders at the helm.