I have worked hard for years and earned some money/property for my future (e.g. $ 200,000).
Now if there is some unfortunate accident and I am at fault. Someone sues me for over $200,000. How should I deal/dealy/avoid it?
Any answer is greatly aprreciated.
2007-04-30 07:43:31 · 11 answers · asked by SanS 1 in Politics & Government ➔ Law Enforcement & Police
Make sure you have liability insurance covering a much larger amount. Check into home owners insurance, or talk to your insurance agent.
2007-04-30 07:52:14 · answer #1 · answered by CGIV76 7 · 0⤊ 0⤋
CGIV76 is absolutely on the money!! Just because the state requires a paltry amount for "minimum" coverage...NEVER hit the road with minimum liability.
If you are found at fault, the civil liability can go beyond your minimum coverage.
This doesn't even include the potential of criminal charges! So...if you have an "accident" where you're found to be "criminally negligent"....better have plenty of insurance or a huge bank account.
Best wishes!
2007-04-30 15:04:41 · answer #2 · answered by KC V ™ 7 · 1⤊ 0⤋
get the best attorney you can afford. The legal system is out of control with all this litigation. A couple years ago I was sued for a similar amount of money. I ended up spending 35,000 in legal fees, but I was able to keep my money.
Right now you need to protect your money. Go to an estate lawyer, you need to have your money in a limited partnership or holdings to protect it. The lawyer will discuss complex ways to protect your money. If you have your money in a corperation, it makes it very hard for them to get it. They can only sue you personally. You can getyour money incorporated fairly quickly 1-2 weeks. Please hurry and get expert advise.
2007-04-30 14:53:40 · answer #3 · answered by ginger 2 · 0⤊ 0⤋
There is a reason for the saying, always keep a safe percentage of your assets liquid. Also try and do all you can politically to stop the frivolous law suits in your state.
2007-04-30 15:13:21 · answer #4 · answered by puddog57 4 · 0⤊ 0⤋
It would depend what they are suing you for. Insurance will take care of large sume of money like that, and I don;t think that you can really sue someone for more than what they are worth...unless it was really egrgious (like a crime) and they would just do it to bankrupt you. Must have more info to answer this question
2007-04-30 14:49:41 · answer #5 · answered by hichefheidi 6 · 0⤊ 2⤋
You can get a lawyer when the suit is filed. More importantly, talk to an insurance agent now.
2007-04-30 14:47:12 · answer #6 · answered by BOOM 7 · 0⤊ 1⤋
depends on the accident. you should have reported this to your insurance company first. they will give this to their attorneys to handle the situation. if you don't have insurance, you'd better get an attorney. you only have 20 days to answer a lawsuit or its deemed you admit and have to pay up.
2007-04-30 14:51:56 · answer #7 · answered by Anonymous · 0⤊ 1⤋
ummm...get a lawyer...that way you can fight the charges brought against you...but unless you can PROVE that it wasnt your fault....your gonna pay maybe not the same amount but still your gonna have to pay...someone has too....do you have insurance?
2007-04-30 14:51:40 · answer #8 · answered by Becca 1 · 0⤊ 1⤋
They willl take everything and slso make you pay through payments every month.
2007-04-30 14:48:26 · answer #9 · answered by Michael R 3 · 0⤊ 1⤋
honestly get a lawyer
2007-04-30 14:47:30 · answer #10 · answered by ? 6 · 0⤊ 1⤋