Again, I don't know about everywhere but in Texas there isn't a whole lot that you stand to lose even if you are sued. I would wager that 90% of the folks on this forum are essentially judgement proof if living in Texas. How's that? In Texas:
1. You can't take someone's homesteaded dwelling to satisfy a civil judgment-their home. Nor can they take your home furnishings including family heirlooms- Property Code S 42.002-1 (You can't take their prepaid burial plots either) The homestead is as follows -if your family lives in the city you can exempt up to 10 acres, if they live in the country you get to exempt up to 200 freaking acres! There are actually cases where people exempted different 1 acre patches up to the 200 acres, funny thing, those 1 acre patches were all surrounding OIL WELLS!
2. They are allowed to keep one vehicle for each adult in the household-whether it's a Rolls Royce or a '72 Gremlin. S 42.oo2-9
3. They can't take your "tools of trade" S 42.002-4 (computers, plumbing equipment, wood working, electricians tools etc.....)
4. They can't take bona fide retirement savings held in a 401k or other similar plan
5. They can't garnish your wages
6. They can't take Jewelry up to 25% of the aggregate of the $60,000 personal property exemption provided for couples-30,000 for singles.
7. You get to keep two firearms (this one would hurt some!)
8. You can keep athletic and sporting equipment including bicycles S 42.002-8
And lastly, the section I love the most!
You get to keep the following animals and forage for their consumption under S42.002-10
1. Two horses, mules or donkeys and a saddle, blanket and bridle for each (Could include Secretariat or other race or breeding horse!)
2. 12 head of cattle (How about a PBR bucking bull worth a cool million?)
3. 60 head of other types of livestock (Emus?)
4. 120 head of fowl
Plus you get to exempt $60,000.00 of "other assets" of your election!
Why do you think Ken Lay and all the other scofflaws reside in Texas? You can't touch them. The guy has a $4 million dollar house and there isn't a freaking thing they can do to it!
Now I know that there are dozens of millionaires on this forum but for the average guy-the one who seems to worry the most, how much do they have beyond that that some boogeyman could get? Dang near nothing I am guessing. Aside from all of that, if you don't have self defense insurance through the NRA (which would cover costs of defense and awards of damages) and carry a pistol you deserve to be sued based on stupidity alone! The legal bogeyman has no clothes-at least in the Lone Star State!
Would it be fun to get sued? No, but then it probably wouldn't be fun to have to shoot someone either. It's not a situation of your making though. Look at it rationally and get on with your life.