Even individuals of modest wealth have realized that they are treated differently in society. Those that have suddenly come into money may find a distressing change in their tax bracket. Their financial manager has them pay more attention to tax shelters and money management. The affluent may receive many more investment offers and suggestions for “putting their money to work”. They even find that they have a lot more friends and get more attention from family members. Unfortunately, they can get an increase of negative attention from the legal community as well. For this reason, it is important that they consider Connecticut high net worth insurance.
Lawsuits Are Generally Trials by Jury
An important consideration for the wealthy is that lawsuits are generally decided by a jury rather than a judge. Many types of lawsuits can include open-ended awards such as compensation for pain and suffering. This puts a lot of power into the hands of the jury. Because jury members are laypersons, they are not trained in the law, and are less likely to be influenced by precedence or other legal considerations. A great deal of their decision is based on how much they like the defendant. Because many jury members are low to middle income earners, they may not favor a defendant wealthier than they themselves are. Connecticut high net worth insurance can help protect against this societal bias.