How do we protect our assets from civil suit?

[dj1963]

We own a nice home and 2 small businesses, both LLCs and receive a nice income as well as received a large inheritance when a parent passed away this past year. My husband got into a fight with a co worker who ended up with a split lip, needed some stitches and pressed charges. This man didn't do his job, made snide comments to everyone and finally, when things reached a head, my husband got a broken nose and his co worker needed stiches. When the co worker filed charges, my husband decided to plead to a lesser charge, pay for the co worker's stiches and be done with it rather than get an attorney and go to trial, thinking it wasn't that big of a deal. Now that he has pled guilty, we hear that the coworker has learned of our inheritance and plans to file a civil suit for damages?? (for stitches??)...can anyone help us with some advice on how to protect our assets from this man. A friend suggested a holding company for the assets belonging to us and both companies but we've heard that we have to keep assets for each company separate and the house should be in our own names. I'd appreciate any help you could give me...thanks

[LawGuru]

Now that he has pled guilty, we hear that the coworker has learned of our inheritance and plans to file a civil suit for damages?? (for stitches??)...can anyone help us with some advice on how to protect our assets from this man. A friend suggested a holding company for the assets belonging to us and both companies but we've heard that we have to keep assets for each company separate and the house should be in our own names. I'd appreciate any help you could give me...thanks

You said it yourself, "for stitches??", I don't think you should be that wary. Even if the court awarded him damages for STITCHES, believe me it would not take your two business and your large inheritance to satisfy it. To engage the services of a holding company would only double your expenses, i. e. fighting the lawsuit and securing your assets. But it is still your call. First off, go find yourself a good lawyer. It may help eliminate some paranoia.