Legal Q: Lawsuits and Assets

  1. Have acquired substantial assets and currently have an NSO personal liability policy, but have often wondered . . .

    1. Probability that an award would exceed the policy payout making our jointly owned assets a likely target and how vulnerable these assets would be?

    2. Benefit of keeping a small joint account with spouse and transferring all major funds to her own personal accounts, hopefully keeping them out of reach.

    Note: decision may sound risky, but have been happily married for decades.

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    About PHM

    Joined: Dec '03; Posts: 98; Likes: 7


  3. by   TazziRN
    You need to talk to an attorney, we can't give legal or medical advice.
  4. by   TheCommuter
    In addition, I would not advertise to coworkers/patients that you have professional malpractice insurance. Supposedly it will cause you to become a more appealing target for litigation purposes. I, too, have malpractice insurance to protect my material acquisitions, but I am sure to keep it a secret at the workplace.

    There are ways to hide your house and other assets on paper, but I cannot go into further detail on this forum.