Need some FBG Lawyer Advice (1 Viewer)

[Leviathan]

My wife was involved in a car accident. She rear ended a car. It was her fault, without a doubt. Our vehicle and the other vehicle were totalled. The injuries were minor; everyone walked away from the accident with minor injuries. No hospital time, etc.

The statute of limitations for filing a claim against us is upon us. Our insurance agency called us today and informed us that the accident victim's lawyer is asking to extend said limitation and that we may be served.

What should I expect? Can the plaintiff go after my 401k account?

Nervous...

 

[GroveDiesel]

Can't answer anything else, but 401(k) accounts are protected.

 

[Leviathan]

Can't answer anything else, but 401(k) accounts are protected.

Thank you! Can I get a second? Blood pressure spiking over here.

A huge dent into my 401 would devastate me financially.

 

[Leviathan]

Just to clarify: I do not expect anyone here (FBGs) to represent me/us in court. I've got that covered. I just want to know what I am potentially facing.

 

[eoMMan]

$5 millions

 

[NCCommish]

Can't answer anything else, but 401(k) accounts are protected.

Thank you!Can I get a second? Blood pressure spiking over here.

A huge dent into my 401 would devastate me financially.

Even OJ got to keep his retirement.

 

[Our Gang]

your 401k is safe

 

[Leviathan]

$5 millions

I'm doomed. :(

 

[whoknew]

Are the damages greater than your insurance limits?

 

[bigbottom]

Do you not have liability insurance?

 

[Leviathan]

Can't answer anything else, but 401(k) accounts are protected.

Thank you!Can I get a second? Blood pressure spiking over here.

A huge dent into my 401 would devastate me financially.

Even OJ got to keep his retirement.

Yeah, after millions of dollars spent on attorneys fees! My pockets are extremely shallow compared to his.

 

[Christo]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

 

[Leviathan]

Are the damages greater than your insurance limits?

I don't know. I suppose it's possible, but I don't think so.

Do you not have liability insurance?

I have liability insurance. The accident occurred almost two years ago. I thought that everything was legally resolved. Apparently not.

 

[NCCommish]

Can't answer anything else, but 401(k) accounts are protected.

Thank you!Can I get a second? Blood pressure spiking over here.

A huge dent into my 401 would devastate me financially.

Even OJ got to keep his retirement.

Yeah, after millions of dollars spent on attorneys fees! My pockets are extremely shallow compared to his.

Well while we don't often agree I will keep your 401k in my thoughts. No one should lose their retirement over a car accident.

 

[Leviathan]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

 

[Ramblin Wreck]

My wife was involved in a car accident. She rear ended a car. It was her fault, without a doubt. Our vehicle and the other vehicle were totalled. The injuries were minor; everyone walked away from the accident with minor injuries. No hospital time, etc.

The statute of limitations for filing a claim against us is upon us. Our insurance agency called us today and informed us that the accident victim's lawyer is asking to extend said limitation and that we may be served.

What should I expect? Can the plaintiff go after my 401k account?

Nervous...

Say no after the limitation expires?

 

[Zow]

My wife was involved in a car accident. She rear ended a car. It was her fault, without a doubt. Our vehicle and the other vehicle were totalled. The injuries were minor; everyone walked away from the accident with minor injuries. No hospital time, etc.

The statute of limitations for filing a claim against us is upon us. Our insurance agency called us today and informed us that the accident victim's lawyer is asking to extend said limitation and that we may be served.

What should I expect? Can the plaintiff go after my 401k account?

Nervous...

Say no after the limitation expires?

It's not quite that simple.

 

[Leviathan]

My wife was involved in a car accident. She rear ended a car. It was her fault, without a doubt. Our vehicle and the other vehicle were totalled. The injuries were minor; everyone walked away from the accident with minor injuries. No hospital time, etc.

The statute of limitations for filing a claim against us is upon us. Our insurance agency called us today and informed us that the accident victim's lawyer is asking to extend said limitation and that we may be served.

What should I expect? Can the plaintiff go after my 401k account?

Nervous...

Say no after the limitation expires?

A Judge will decide that. I have no say.

 

[bigbottom]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

Why would you need to lawyer up? Isn't your insurance handling the matter? And if there were no major injuries, I wouldn't think the damages would exceed your coverage. What are your coverage limits?

 

[Leviathan]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

Why would you need to lawyer up? Isn't your insurance handling the matter? And if there were no major injuries, I wouldn't think the damages would exceed your coverage. What are your coverage limits?

I've never been involved in something like this before. I have "full coverage" according to my insurance agency. Why would they call my wife and tell her that we may be served? I'm obviously not a lawyer and I'm confused. I'll have to look up my coverage limits. Unsure on that point, dammit!

 

[Christo]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

 

[Leviathan]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

 

[whoknew]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

Because they are suing you - not the insurance company. So the Plaintiff has to serve you (your wife) personally.

As soon as you get served with the citation, call your insurance agent and send them the petition. They will then hire a lawyer to defend you who will answer the petition and handle the lawsuit. The insurance company pays the lawyer and any settlement/verdict up to your limit.

 

[Christo]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

 

[Zow]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

Why would you need to lawyer up? Isn't your insurance handling the matter? And if there were no major injuries, I wouldn't think the damages would exceed your coverage. What are your coverage limits?

I've never been involved in something like this before. I have "full coverage" according to my insurance agency. Why would they call my wife and tell her that we may be served? I'm obviously not a lawyer and I'm confused.I'll have to look up my coverage limits. Unsure on that point, dammit!

Generally, a plaintiff will likely list anybody where there may be a colorful claim against that person. In cases like yours they must list the individual person who committed the tort. This does not mean that your wife's insurance company will not cover her liability.

 

[Leviathan]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

Because they are suing you - not the insurance company. So the Plaintiff has to serve you (your wife) personally.

As soon as you get served with the citation, call your insurance agent and send them the petition. They will then hire a lawyer to defend you who will answer the petition and handle the lawsuit. The insurance company pays the lawyer and any settlement/verdict up to your limit.

Thank you!Dammit!

 

[Zow]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

Yeah you don't understand insurance.

 

[Leviathan]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

Why do find this funny? I have already admitted that I'm not a lawyer and do not not understand the ins and outs.

 

[Christo]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

Why do find this funny? I have already admitted that I'm not a lawyer and do not not understand the ins and outs.

I'm laughing because you said you understand the purpose of insurance.

 

[Leviathan]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

Why do find this funny? I have already admitted that I'm not a lawyer and do not not understand the ins and outs.

I'm laughing because you said you understand the purpose of insurance.

OK. Apparently I'm completely ignorant. You got me. That being said, while looking like a fool, I appreciate your input.

 

[whoknew]

FYI - Your lawyer will have to respond to the lawsuit within a certain number of days. So make sure you get the petition to your insurance company as soon as possible once you are served.

 

[Leviathan]

FYI - Your lawyer will have to respond to the lawsuit within a certain number of days. So make sure you get the petition to your insurance company as soon as possible once you are served.

Thank you. I appreciate your input.

 

[NCCommish]

He asked becuase he didn't know. If you haven't been through it you don't know so it's scary. Maybe cut him some slack.

 

[GroveDiesel]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

That seems less than helpful. Under ERISA, unless the 401(k) is solely owned and held by a business owner and their spouse, it is protected from lawsuit.

So sure, someone could try to sue for it, but it would be tossed in no time flat and any plaintiffs lawyer would know that.

 

[Leviathan]

He asked becuase he didn't know. If you haven't been through it you don't know so it's scary. Maybe cut him some slack.

No worries. I am no longer ignorant with regard to this particular subject. Lesson learned!

 

[Bucky86]

I say counter-sue. For punitive damages.

 

[Officer Pete Malloy]

I say counter-sue. For punitive damages.

An error occurred

You have reached your quota of positive votes for the day

 

[Christo]

I say counter-sue. For punitive damages.

I like the cut of your jib.

 

[Leviathan]

I have absolutely no desire to countersue. I want it to go away. Period.

 

[Johnny Rock]

Don't sweat it until the insurance company gives you the lowdown. Everything will be fine.

Check your policy or ask your agent for a copy.

 

[Zow]

He asked becuase he didn't know. If you haven't been through it you don't know so it's scary. Maybe cut him some slack.

In all fairness, he solicited free legal advice. Consider the ribbing his form of payment.

 

[Zow]

I have absolutely no desire to countersue. I want it to go away. Period.

That poster is (presumably) kidding.

 

[Mr. Retukes]

What is your coverage limit? If your liability coverage is $100K and the victim is suing for $110K, then I would think that they'd sue your insurance company for $100K and then sue you for the other $10K.

 

[CletiusMaximus]

Can the plaintiff go after my 401k account?

Oh, he can go after it. Whether he'll get it is a whole other issue.

OK. This is what I needed to hear. I'll sit tight and wait until I need to lawyer up or not. :(

I don't think you understand the purpose of insurance.

On the contrary, I understand the purpose of insurance. I've paid insurance for numerous reasons. Homes, boats, cars, etc. Why is MY insurance agency, in this intance, warning me that I may be served is the question.

He's hoping you take the hint and makes yourself scarce until the limitations period has passed. Take a vacation, hole up in your basement, don't answer the doorbell, stay off social media, wear a fake moustache, whatever it takes to avoid the process server until that deadline is dead.

 

[James Daulton]

Why would the judge grant an extension to the limits? If two years is the the limit, I'm sure some brilliant minds came up with that as a reasonable time period for any and all injuries to present themselves.

I suggest you take the papers you're served with, wipe your ### with them, and personally deliver them back to the enemy lawyer and person your wife hit. I'm pretty sure they'll get the message.

Afterwards, withdraw everything from your 401k and put it on the Ravens to win the Superbowl. It will look like you have no money and when the matter is settled in a few months and the Ravens win the Superbowl, you can retire in style!

 

[Dan Lambskin]

 

[apalmer]

What is your coverage limit? If your liability coverage is $100K and the victim is suing for $110K, then I would think that they'd sue your insurance company for $100K and then sue you for the other $10K.

You'd be thinking incorrectly.

 

[The Big Guy]

Things like these are the reason that I picked up an umbrella policy, to increase my coverage max limits and make sure that I will hopefully never have to sweat out something like this. Coverage out to 2 million was not a very big add on to existing policy. Everyone should their agent and price one out.

 

[jon_mx]

I never understood why anyone would have insurance for their umbrella.

 

[CletiusMaximus]

Why would the judge grant an extension to the limits? If two years is the the limit, I'm sure some brilliant minds came up with that as a reasonable time period for any and all injuries to present themselves.

He's asking for a voluntary tolling agreement which would stay the running of the limitations period. In some cases, it makes sense for the defendant to agree to these. In this case, the insurance company is most likely not agreeing, which means the plaintiff's lawyer is going to have to get his lawsuit fired up before the time runs out. This was just a courtesy call to the OP to let him know what's possibly coming. This is all blind speculation, and could be completely wrong.