Kindly note that there may be a delay in getting back to you because I am also helping other customers on the site or may be on break. However, rest assured that you would get a response to your follow-up questions. Thank you for your understanding and patience.
Question: I have been sued in a non-compete case with my previous employer. I have no debt (even my cars and house are leased). My goal is to protect money I have from the sale of a previous house and to protect my wife's inheritance money which is in an account in her name only. My question is can my wife's inheritance money be taken as damages against me Response 1: No. Your wife does not have anything to do with your lawsuit. Minnesota is not a community property state where the debts acquired by one spouse during the marriage become the responsibility of both spouses. and if I buy and homestead a house now with the proceeds from my house as a down payment, if damages are assessed against me, can my house be taken? Response 2: No. Equity in the house is protected up to $300,000.00. See Minnesota Statutes Sections 510.01 and 510.02. Also, if I declare bankruptcy will that allow me to get out of a current 10-month lease and keep my house if damages are accessed against me? Response 3: Yes.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).