IF YOU DO NOT DISCLOSE A POSSIBLE LAWSUIT THE COURT IF THEY FIND OUT WOULD BRING CRIMINAL PERJURY CHARGES AGAINST YOU, BE AWARE THE US DEPT. JUSTICE AND FBI ACTUALLY WORK FOR THE TRUSTEE
, AND INVESTIGATE EVERY CASE.
Texas is a very liberal state when it comes to individuals keeping their assets, you should declare a possible suit and if you expect damages from 30,000 to 60,000( you could keep these amounts)
Speak to your personal injury attorney regarding what a possible outcome would be and then decide, however once a suit is filed it is public record and can be found out.
Personal injury damages, not including damages for pain and suffering, are exempt to the extent of $18,450 if you elect the federal exemptions (and if your state even allows you to elect the federal exemptions).
The Texas exemptions allow A single adult, who is not a member of a family to property he or she owns that has a fair market value (exclusive of liens) of up to $30,000. Tex.Prop. Code
§ 42.001(a)(2). To be exempted from the creditors.
A family can keep up to $60,000.