What is the name of your state? California
My father-in-law died several months ago. He had a living trust with a pourover will leaving everything to my husband and naming him as the executor of the estate. My husband is a "blue collar" type and basically didn't even know what an executor does, so I am doing my best to handle all the paperwork, prepare documents for his signature, etc. Basically, we have inherited F-I-L's house (a duplex, we've been living in the other half for 20 years) and enough cash to (hopefully) make needed repairs, as he had let the property decline and the house is 100 years old.
F-I-L was in a car accident over a year ago. He admitted fault, and said he had called the person he hit several days later and they claimed they were not injured.
This morning we received a phone call from F-I-L's insurance company (Farmers). (When we had his phone disconnected, we put a referral on it to our #.) The agent says the claim has not yet been settled, and this person is claiming damages for "anxiety and psychological reasons". He says if they are unable to reach a settlement, there is a good possibility this person will sue the estate.
Isn't this why one has liability insurance? Can they still sue you as well if they refuse the insurance settlement? Can Farmers be made to pay the maximum of their liability limit?
Can we lose the house? This is the scary part, as we have been living here with low rent all these years. How long can this "threat" hang over our heads?
What are the odds of the other person winning a suit? I mean, if there were no physical injuries (other than the usual whiplash type stuff), how likely are they to get a judgment beyond insurance limits based on "anxiety and psychological reasons"?
This is very distressing to us. Any advice will be greatly appreciated.
My father-in-law died several months ago. He had a living trust with a pourover will leaving everything to my husband and naming him as the executor of the estate. My husband is a "blue collar" type and basically didn't even know what an executor does, so I am doing my best to handle all the paperwork, prepare documents for his signature, etc. Basically, we have inherited F-I-L's house (a duplex, we've been living in the other half for 20 years) and enough cash to (hopefully) make needed repairs, as he had let the property decline and the house is 100 years old.
F-I-L was in a car accident over a year ago. He admitted fault, and said he had called the person he hit several days later and they claimed they were not injured.
This morning we received a phone call from F-I-L's insurance company (Farmers). (When we had his phone disconnected, we put a referral on it to our #.) The agent says the claim has not yet been settled, and this person is claiming damages for "anxiety and psychological reasons". He says if they are unable to reach a settlement, there is a good possibility this person will sue the estate.
Isn't this why one has liability insurance? Can they still sue you as well if they refuse the insurance settlement? Can Farmers be made to pay the maximum of their liability limit?
Can we lose the house? This is the scary part, as we have been living here with low rent all these years. How long can this "threat" hang over our heads?
What are the odds of the other person winning a suit? I mean, if there were no physical injuries (other than the usual whiplash type stuff), how likely are they to get a judgment beyond insurance limits based on "anxiety and psychological reasons"?
This is very distressing to us. Any advice will be greatly appreciated.