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Legal Q: Lawsuits and Assets

Nurses   (605 Views 3 Comments)
by PHM PHM (Member)

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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.

thanks,

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TheCommuter has 10 years experience as a BSN, RN and specializes in Case mgmt., rehab, (CRRN), LTC & psych.

1 Follower; 228 Articles; 27,607 Posts; 316,748 Profile Views

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.

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