My wife and I are purchasing a home that has the entire back yard on a lake. How do we protect ourselves if some stupid, drug induced, drunk 16 year old kid runs through our back yard and drowned himself and the parents sue us for $50,000,000 because we don't have a 15' fence around the lake? There are no easement's or public access to the lake. However, in our litigious society, you can sue for anything.
I am speaking with an agent tomorrow regarding umbrella policies, but I would like to explore options. While we do have a number of trusts, we are too young to put property into trusts, and having a corporation own the property won't work as well.
Thanks in advance.
Doug
I am speaking with an agent tomorrow regarding umbrella policies, but I would like to explore options. While we do have a number of trusts, we are too young to put property into trusts, and having a corporation own the property won't work as well.
Thanks in advance.
Doug
