Obviously, you are individually exposed in any claim where the verdict is in excess of your policy limits. In that scenario, once the verdict is entered and matures into a judgment, it becomes a lien on your property until such time as it is discharged in some way (ie. Settlement, Bankruptcy or otherwise). Once a judgment, efforts can be made to execute on available assets. If the assets are jointly held such as a house, the property cannot be sold out from under you but, if you sell it the lien must be paid.
This is the short answer which does not take into account your unique circumstances.
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The underlying facts for each situation are unique. Any responses given are for informational purposes only and are not designed or intended as professional legal advice, since any suggestions may not apply to your specific circumstance. This information exchange does not create an attorney-client relationship of any kind. Should you determine that you need immediate legal assistance or action , you should contact your local Bar Association for a referral to an attorney in your area.
Besides increasing your malpractice limits you can strucutre your individual practices in a corporate format whether LLC or LLP or PC. Also, real estate that you own can be kept in a separate corporate structure. Speak with an experienced business lawyer to assist you.
Also, consider wills and estate planning.
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