after a car accident that was deemed my fault , my insurance company is asking me to sign an affidavit on which one question was how much are your assets over $5,000.Do I have to give this information and what kind of lawyer do I need? My insurance company is saying the injured party's lawyer is asking for this.
The injured parties attorney wants to know about your assets because most likely your insurance company has tendered your policy limits and the attorney wants to know whether you have any assets that would make it worthwhile for him (his client) to pursue you for an amount above your policy limit. Basically, he wants to make a determination as to whether or not you are judgment proof.
Definitely consult an attorney about the questions that they are asking you to answer and if you get clearance to answer the questions, answer them truthfully. The plaintiffs attorney is only doing his job in asking these questions. If she does not ask these questions and it turns out that you have assets that she could have attached had she pursued and won a lawsuit, then she would have committed legal malpractice. It is a double-edged sword for you. If you refuse to answer these questions and she feels that you have assets, then she may file a lawsuit against you to discover these same facts during the discovery process. Again, do not answer ANY questions until you have gotten clearance from an attorney.
Get free answers from experienced attorneys.
25,069 answers this week
2,661 attorneys answering
Don't speak legalese? We define thousands of terms in plain English.Browse our legal dictionary