More details to this question:
I was found at fault in a multi vehicle motor vehicle accident. my automobile insurance company has settled MOST of the claims. #1. can the people who filed claims with my insurance company , that were settled, can they hire a lawyer to sue me? #2. can the people who filed claims with my insurance company that HAVEN'T been settled yet, can they sue me? #3. If I am sued , can they 'get at' the inheritance my deceased parents left me? Inheritance being assets in the form of real estate, life insurance policies and annuities, cars, etc. If they can 'get at' my inheritance and other assets, how best to protect them? thanks so much mike
1 ANSWER
Your insurance company represents you. A settlement through the insurer is a settlement with you. Anybody can sue for anything, so nobody can guarantee that you won’t be sued, but a full settlement of all claims with the insurance company would provide a complete defense. People who don’t settle with the insurer can and would sue you. Your insurer would be obligated to defend you and pay the damages (assuming that the claim fell within the coverage, and didn’t invoke an unauthorized driver or the line) to the limit of your policy. If you have already inherited assets, they can be used to collect on any judgment against you and there is no foolproof way of protecting them, but there are many ways of making it more difficult for your creditors, for example liquidating and putting the most net into buying a primary residence, because Texas has an unlimited homestead exemption for primary residences (check this and any other attempts to shelter assets with a Tecas lawyer)
Answered on Oct 05th, 2019 at 11:06 AM