You don’t wake up in the morning and think, “Hey, I am going to get sued today.” But sometimes it just happens and when it does you will not expect it. It could be you getting in a car accident, or your tree falling in your neighbor’s yard, landing on their new grill. It could even be your chihuahua, Mister Fluffy, biting some brat in the park. The point is, it happens. When it does you need to protect yourself against these civil lawsuit cases. At Your Insurance Attorney, we are here to guide you along the way. Our property damage attorney Miami office is here to assist you and protect your assets.
Protect Your Assets
If you ever get sued, it sucks. However, do not fret. There are measures you can take to protect yourself beforehand. You can get started on these as early as today!
If your opponent obtains a judgment against you, he can probably pursue your assets to satisfy the judgment. This may include bank accounts, wages, real estate, vehicles, boats, personal items, and more. We can help you avoid this.
Keep in mind that the laws pertaining to personal liability vary depending on the state the claim is filed in. For the best assistance and advice, it is best for you to consult with an attorney first. A property damage attorney Miami firm will be a vital resource.
5 Ways To Protect Your Assets in Civil Lawsuit Cases:
- Have adequate insurance
It is essential to understand what your policy limits are, what your policy covers, and which exclusions apply. Research this on all your insurance policies including automotive and homeowners.
- Form a trust to hold your assets
A trust is a legal entity that holds assets for the benefit of the beneficiary. This process can get complicated so it is best to get a lawyer involved to evaluate your circumstances.
- Form a corporation or limited liability company to protect your personal assets from business creditors
To protect yourself from personal liability, consider forming a limited corporation liability (LLC). Doing so will reduce your exposure to business investment. MAke sure you research your state laws first and consider hiring an attorney.
- Contribute to retirement accounts
401k, IRA, etc. These accounts have certain protections that prevent creditors from reaching them.
- Take advantage of real estate protection laws
Homestead exemptions protect the equity in your principal residence from seizure by creditors. Also, look into how your home is titled. It may be marked as tenants by the entirety due to you being married. If this is the case, both of you must consent to any sale of conveyance. This means creditors cannot force you to sell the house without your spouse’s permission.
Call Us Today For More Information
Here at Your Insurance Attorney, we are professionals committed to aiding you when it comes to civil lawsuit cases. We will work with you or public adjusters all over the state of Florida, especially in Miami. We genuinely care about getting results for you and accomplishing a result that satisfies your needs. Our goal is to help you through great representation from start to finish. Our property damage attorney Miami office will fight for you. Contact us today.