Are retirement and real estate assets projected from judgment in accident case?
Q: If I cause an automobile accident and the victim is awarded a judgment against me that insurance doesn’t cover, are my retirement accounts and my homestead property exempt from the award?
A: Yes.
The homestead exemption is limited to 10 acres if you live in a city, or if you live outside a city, then the limit is 100 acres for an unmarried person and 200 acres for a married couple.
Advertisement
Article continues below this ad
There are generally no limits on the size of your retirement accounts.
Q: We do not have anyone we can depend on to be the executor under our wills. How do we go about finding a third party to serve?
A: One option is to appoint a trust........
© Houston Chronicle
