This is a complex issue that needs to be reviewed by an attorney. The attorney would need to see all of the insurance policies and would need to consider a number of factors. I would suggest that your father contact an attorney right away.
An attorney would need to review all available insurance policies. Make an appointment with a personal injury lawyer in your city.
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Your father needs to have his insurance policies examined by an attorney and see what his potential exposure is and whether bankruptcy is an option to get rid of any excess verdict.
DISCLAIMER: David J. McCormick is licensed to practice law in the State of Wisconsin and this answer is being provided for informational purposes only because the laws of your jurisdiction may differ. This answer based on general legal principles and is not intended for the purpose of providing specific legal advice or opinions. Under no circumstances does this answer constitute the establishment of an attorney-client relationship.
MAYBE. IF YOUR FATHER'S INSURANCE COVERAGE IS NOT SUFFICIENT, HIS INSURANCE COMPANY HAS TO PAY THE MAXIMUM AMOUNT REQUIRED BY THE PLAINTIFF. IF THE MAXIMUM IS NOT SUFFICIENT TO COVER THEIR LOSSES, THEN THE DEFENDANT HAS TO LOOK AT HIS OWN INSURANCE UNDERINSURED PROVISIONS. IF THERE IS NO INSURANCE THERE, THE ATTORNEY FOR THE PLAINTIFF HAS TO ASK FOR EXCESS MONEYS FROM YOUR FATHER IN ADDITION TO THE POLICY. IF YOUR FATHER HAS EQUITY IN THE SECOND HOUSE, THEY WILL GO AFTER IT. THEY MIGHT NOT GO AFTER YOUR PARENTS HOME BECAUSE THERE IS SUCH A THING CALLED HOMESTEAD EXEMPTION. EACH JURISDICTION HAS DIFFERENT LIMITS FOR THE HOMESTEAD EXEMPTION; SO, I URGE YOUR PARENTS TO GET LEGAL ADVICE IN THEIR LOCALE. BEST OF LUCK.
This answer is provided by Manuel A. Juarez, Esq., aka El Abogado de Accidentes de California: 510-206-4492. It is of a general context and is not intended to form an attorney client relationship. I am licensed only in California. This information is good only in California and it is not to be taken as legal advice on accident, personal injury, divorce, bankruptcy or in any other type of situation. Esta respuesta es del Abogado de Accidentes y Lesiones personales, Manuel A. Juárez, 510-206-4492. Abogado Hispano de Accidentes, Divorcios, Abogado Latino de Accidentes, y Abogado de Bancarrotas de Oakland, Hayward, San Francisco, y California. Estas respuesta son solo para información general y no consisten en consejo legal sobre divorcios, mantención de esposas, mantención de hijos o bancarrotas. Las respuestas son comentarios legales que no forman una relación de abogado y cliente. Manuel Juarez, Esq., esta licenciado solo en el Estado de California.
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