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Good Morning, I own my house free and clear. My son will start driving next year. How do I protect my home from leagal action if I am sued?
Optional Information: State/Country: Washington Already Tried: I have not tried anything. Just want to keep the house safe from liens. I have no problems with bills. I am just worried about being sued.
Good morning to you....Having 3 children of my own, I understand your concerns. Here is what I recommend...1) Get the maximum limits on the liability portion of your auto insurance; and 2) Get an umbrella policy to for excess liability coverage. Also, you needn't worry about losing your home....homesteads are exempt assets under almost all state's bankruptcy laws.
I hope this has given you the guidance you were seeking. I wish you the best of luck!
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
Experience: Texas lawyer for 32 years; Also RE developer