Been sued? Please share.

[Ken Weiner]

There are so many discussions on here about the most appropriate asset protection strategies for various situations. Umbrella policies, LLCs, holding LLCs, land trusts, etc. People debate whether someone else can simply "pierce the veil" of these entities.

I was wondering if anyone out there that has actually been sued. If so:

• What were you sued for and for how much?
• What asset protection structure did you have, if any? Insurance? LLC? Other?
• What was the result?

I'd love to hear first-hand experiences of people whose asset protection strategy has actually been tested. I'm sure many others on here would benefit as well. Let's devote this thread to actual first-hand experiences instead of asset protection advice of which there is already plenty of on BiggerPockets.

[Account Closed]

Originally posted by @Ken Weiner:

There are so many discussions on here about the most appropriate asset protection strategies for various situations. Umbrella policies, LLCs, holding LLCs, land trusts, etc. People debate whether someone else can simply "pierce the veil" of these entities.

I was wondering if anyone out there that has actually been sued. If so:

• What were you sued for and for how much?
• What asset protection structure did you have, if any? Insurance? LLC? Other?
• What was the result?

I'd love to hear first-hand experiences of people whose asset protection strategy has actually been tested. I'm sure many others on here would benefit as well. Let's devote this thread to actual first-hand experiences instead of asset protection advice of which there is already plenty of on BiggerPockets.

 Got sued. For $2,000,000. They lost, at every level. They appealed. Went all the way to the Ninth Circuit Court of Appeals. Set a Precedent. Went through 4 jurisdictions and took 6 years. What do you want to know?

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