The time for doing asset protection steps is before hand.....the longer the time of taking these steps and getting sued is better.

The problem, no one believes this could happen to them- ever.

Having what people perceive as lots of money, makes each one of us a huge target. It doesn't matter even if you have money or not. With legal service pending, at best you might want to reach out to your insurance agent.

Thank you for your great explanation of your circumstances. Did you know that if you speak to a "party" to this legal action, they will not try to resolve things, but instead collect information to be used against you. Under no circumstances when you receive the letter contact anyone, except your attorney.

I had a tenant issue and the City of Los Angeles give "anyone" being evicted a Free Legal "TEAT" to halt the eviction -- up to $15,000 per tenant.

Since my tenant "lied" to this City Employed Attorney and they were going to file motions against me, I had no choice but to explain the "True Facts". When this attorney called me, I answered via "Speaker Phone" and told the attorney I needed to keep them on speaker so my hands were free to take notes and get the tenants file, also I had a friend here helping me who will listen to this phone conversation.

The attorney twisted the information, making major edits and turning things around. So in court the "Judge" did not believe me so I wanted to pay the tape recording. The Judge refused to allow me to play it since I hadn't had the tape recording confirmed. I then had another friend, a handwriting finger print Sargent stand up in court and address the judge, He had worked with the attorney and confirmed the voice on the tape was her.

I played the tape proving the attorney lied. So the Judge thru it out. I then went to court two more times to get the tape entered as proof. At one of those other hearing, the City Attorney filed 7 (Seven) related charges. Without notice or being served the Judge gave me 1 chance to prove myself innocent or I was going to be charge and would have to post bail.

Six of the Seven Charges I had the Proof that I was innocent and the seventh charge, by the preponderance of my evidence, I was 90% no guilty. So I won.

The charge were: I abused and beat up on the tenants dog.

I broke into the rental.

When in the rental I had taken the tenants belongings such as a computer, jewelry and other stuff.

I changed the locks and wouldn't give the tenant a key unless she paid for the lock change.

Just to let you know, the tenant agreed that if I provided boxes, she would fill them and call me to come over and move them into storage--that I agreed to pay for 1 year so long as she was out of the house within 30 to 45 days.

And the old roommates kept on coming inside and leaving the door open. So the tenant who was the trouble maker called the police and I was asked to change to locks to keep her safe.But the exterior door to her room, only she had a key to it, so I didn't need to give her the other keys, she could open the other doors from the inside.

And I had two animal experts testify that I love dogs and would never take my anger out on them.

All of this because I had a conversation with an attorney and she twisted things up.

Been there a couple of times. My property is maintained well. Issues are handled in a timely manner and we stay on top of maintenance. That in itself limits liability. If you still get sued. Step one relax. Step two give the letter to your insurance company. Step three forgot all about it until you hear from your insurance.

I’ve been sued twice. I outright won one because it was based on a BS discrimination accusation. The other was an injury from a fall. I don’t know the final outcome but even a few years after the company had only paid actual medical bills.

Thanks guys, I will sleep better after your advice, particularly

Sorry for the multiple posts.

Been sued 3 times.

One, a slip and fall. Didn't have insurance due to an anomaly... settled after 2 years for $20k.

One, guy cut half his pinky toe off on a bench. Insured. They defended me. Didn't pay a dime.

One, guy hit back of my truck. Life flighted. Insured. They defended me. Didn't pay a dime.

Wait to receive it and see what it is. If it is a lawsuit against you, turn it over to your insurance company if it is something covered by your insurance, If it is not anything that insurance covers, hire a lawyer.

Do not respond to the lawyer. Let your legal representative do it.

I was potentially sued one time.

I say potentially because the lawyer sent me a letter. I didn't have to sign for it or anything. I got it and called them. (Not wise, I now know)

They said a tenant fell in a water meter base because the lid was left off. They wanted my insurance company name. I refused. They said I had to give it and I said I will wait for the court order.

I then called my insurance guy, off the record. I told him what happened. He agreed that waiting was the best option and did not enter anything about it into my file.

Tenant sued the city and the company that reads the water meters. In the end I do not think she got anything out of it. She was an ambulance chaser and so was the attorney.

For all you inquiring minds. Tenant got a lawyer relative to threaten me with a lawsuit because........ she demanded 5% interest on security deposit. We already sent them SD back with interest.

Bet, IMO you made the right business decision for you. However personally when faced with stuff like this I would have loved going to court & proving just how ignorant of MA LL / Tenant laws their attorney was. Of course I'm semi-retired & actually enjoy going to court for things like this. (g)

Happy to hear it was so inconsequential.

I am torn if I would have settled or gone to court, just because they were being silly.

Steve reminded me of almost an identical situation that happened to me. It was so long ago that it completely forgot about it.