What should I do if I am being sued for a car accident where I am found at fault, how do I protect my assets?

What assets do you possess?

The first question you need to answer is whether you have insurance. If you were insured at the time of the accident, you need to report the accident to your insurance carrier IMMEDIATELY. If you are insured, your insurer is obligated to hire an attorney to defend you if you are sued, and to cover any losses you may incur from that lawsuit UP TO THE LIMIT OF YOUR POLICY COVERAGE. If you have a minimal policy$15,000 per person/$30,000 per accidentand someone is injured severely enough to be in critical condition, you have a potential exposure of many thousands of dollars over and above your insurance coverage; if this is the case your assets are at risk. Do not attempt to dispose of your assets to keep them from being exposed. If you are discovered, you can be sued for fraud in addition to the auto accident. If you were not insuredor underinsuredyou should hire an attorney if at all possible to defend you in the lawsuit. If you were on train tracks at the time of the accident, you are probably going to be determined to be liable for the accident and damages, since stopping on railroad tracks is a violation of the California Vehicle Code. If you either have no insurance, or are grossly underinsured, you may also wish to consider seeking advice from a bankruptcy attorney, as you might need to declare bankruptcy to avoid losing all of your assets to the injured party.