How to protect your personal assets in case of at fault accident?

"Never ask a barber if you need a haircut." - Warren Buffett

It is not a bad idea to consult a lawyer, just be aware of their interests. If you are paying for their time and asking questions about the pros/cons of various options, you're likely to get good advice. If you're getting a "free" consultation, you'll probably be steered towards some package they're trying to sell.

I see it all the time in my parents' retirement community. These strip mall lawyers will come in and hand out cookies while giving a presentation on estate planning. Before you know it, Gertrude has a trust for her grandkids. Then Gertrude's neighbor figures she might as well get one too. Before you know it, half the neighborhood has set up trusts most didn't need...

 

After being sued and suing people, I can tell you insurance companies don't pay out as you think they do and no matter where your corp is, the secrecy can be pierced and the assets can be included, nothing today can be hidden.

The best thing is to do is play by the rules to cover your *** and to limit your liabilities as best you can.