By Terry Savage on January 06, 2024 | Wild Card

A friend of mine was in a car accident with a fatality. Very sad! There will probably be a law suit.
Can they loose there house and there pension/retirement or are there laws protecting that?
They asked me if I knew anything about that.
Thanks… love your columns by the way.

Terry Says

If they have auto insurance, their insurance company will defend them –up to the limits of their policy. A lot depends on whether the police report found them at fault in any way. If that’s the case, yes they should ask an attorney to review their liability under their insurance policy. This is one of the reasons, I always suggest an umbrella liability policy, in addition to traditional homeowners and auto insurance.



a personal
finance question