The Famous Grouse
New member
Money changes everything, Cat. A well-lawyered defendant who has the resources to fight a protracted legal battle is a fortified target.
Given that the plaintiffs in many cases are going to be relying on bottom feeding contingency fee lawyers, the decreased chances of a quick/easy payoff is going to be a factor in getting the lawyers to sign/stay on board in the face of a long and expensive fight.
For the ordinary Joe, legal trickery will be of limited help, if any help at all.
I would say that the average Joe is VASTLY better off increasing their personal liability coverage to $3-5 million or more if you have substantial assets. Liability insurance is relatively cheap because it is rarely needed. But if you do need it in the case of a civil suit, it can represent a good motivator to make the other party take the "easy" money and run rather than digging in for a protracted fight for money they may never be able to collect.
I can't count the number of times I've heard of plaintiffs suing for tens of millions, but then caving for a quick settlement within the insurance limits of $500k or $1m.
Grouse
Given that the plaintiffs in many cases are going to be relying on bottom feeding contingency fee lawyers, the decreased chances of a quick/easy payoff is going to be a factor in getting the lawyers to sign/stay on board in the face of a long and expensive fight.
For the ordinary Joe, legal trickery will be of limited help, if any help at all.
I would say that the average Joe is VASTLY better off increasing their personal liability coverage to $3-5 million or more if you have substantial assets. Liability insurance is relatively cheap because it is rarely needed. But if you do need it in the case of a civil suit, it can represent a good motivator to make the other party take the "easy" money and run rather than digging in for a protracted fight for money they may never be able to collect.
I can't count the number of times I've heard of plaintiffs suing for tens of millions, but then caving for a quick settlement within the insurance limits of $500k or $1m.
Grouse