Tom Sirois of Berkshire Hills Financial wants to make sure that you are prepared for any sort of disaster that comes your way.
Today, in the light of all of the political and corporation scandals rocking this election, we are going to discuss the cost of a civil lawsuit to put into perspective the need of the average business owner to set money back in case the need to go to court arises.
Okay, you want to sue someone.
Attorney’s can cost anywhere from $300 an hour, to some of the most experienced charging around $1000 an hour.
Anyone who has ever been to court knows that a hearing could take upwards of 3 hours or more per hearing.
Those court costs add up quick!
Let’s assume that you won’t hire an attorney.
Let’s assume you will act as your own attorney, commonly referred to as “pro se”.
First you have to draft your complaint, and then file it.
Filing fees vary from state to state, and differ from district to superior court. For instance, in California, just filing the complaint will cost you $435, and in North Carolina, filing a civil complaint can cost only $200.
Then there are various other filing fees, including writ of execution, alias/pluries summons, and even a fee to request a court date for your hearing.
It is imperative in today’s business age, that a company set aside a set amount per month for any legal costs that their company may incurr.
An ill prepared company who is sued by a plaintiff could spend upwards of $60,000 – $100,000 dollars before court is over.
Do you have a good strategy to protect your business or personal assets should the need to go to court arise for your business or family?
Contact Tom Sirois of Berkshire Hills Financial today to discuss how we can work out a financial strategy to protect you and your hard-working business today.