What Can I Do to Protect My Assets After a Car Accident?

Car accidents are a stressful experience as they result in injuries and damages. A car accident can make your assets vulnerable, especially if you are responsible for the accident. Your best bet to protect your assets is before the accident occurs rather than after the collision. However, if you have been involved in an accident, here are some strategies that you can follow for asset protection.

Asset Protection Checklist Following Your Car Accident

Car accidents inevitably lead to confusion, and there could be an emotional reaction from all the parties involved in the accident. It is recommended to control your emotions and think wisely after your car accident to protect your assets. Here are some guidelines that you can follow right after your accident:

  1. Dial 911: Right after the accident, call for medical services and notify the police about the accident. Accident injuries may not be evident immediately following the accident. Hence, it is best to get examined by a medical professional. Failure to treat the injuries on time can make them worse, and there could be permanent damage to your body. 
  2. Collect Evidence: The next step is to collect photographic evidence of the accident scene, including damage to the vehicle. Also, collect the other driver’s contact information and insurance policy number and take contact details of any eyewitnesses. Besides, make a written note of your recollection of the accident and the events that led to the crash, as these details may be important when you are filing your claim.
  3. Contact Your Insurance: Ensure to contact your insurance provider and notify them about the accident. Your insurance company will assign an adjuster to your case. If the other party’s insurance company may contact you directly but ensure to redirect them to your assigned adjuster.
  4. Do Not Admit to Anything: It is crucial to understand that any statements you make following the accident could be used as evidence against you. The best way to protect your assets is to not admit to any fault in the accident and hire a legal counsel who can help you with your case.

How Can A Good Car Accident Attorney Help You?

If you or your loved one have been involved in a car accident, it is imperative to seek legal assistance. A car accident lawyer can help you evaluate all the options to recover compensation following your car crash. If the opposite party is responsible for the accident and has transferred titles to assets, a seasoned lawyer can seek a reversal of such fraudulent transfers. 

The attorney can also help evaluate different angles to receive financial compensation, like if the negligent party’s employers have any liability in the accident or if their insurance can cover your losses. An experienced lawyer will provide the legal expertise necessary to find hidden assets and ensure you receive the compensation you deserve. Even if you are at fault for the accident and owe compensation for it, a good car accident lawyer will protect your assets while working with the insurance company. Luckily, the lawyers at Ellis Law Corporation have put together an informative post on how you can best protect your assets on their website here: https://ellisinjurylaw.com/los-angeles-car-accident-lawyers/how-do-i-protect-my-assets-after-a-car-accident/