Serious Motorcycle Accident - Assets?

What is the name of your state? TEXAS
My husband was in a motorcycle accident. Its clear liability as the driver pulled out of a parking lot and hit my husband broadside... basically his entire body came in contact with the truck's grille/hood. He severed two arteries in his foot and it was almost amputated, he has severe fractures on his leg and will have no weight bearing for 3 months. He's had 3 surgeries and a 4th one will be in the future, once the swelling goes down. THere is still the possibility of him losing his foot. THANK GOD HE IS ALIVE

The accident happened 3 weeks ago, tomorrow. He was in the hospital for 1 week (ICU for 4 days) and has been in rehab for the last two weeks and will leave next week. He will continue home PT and additional PT once he is weight bearing.

Claimant's policy is 20k, they will be paying limits
Our policy UIM 100,000, my carrier will also pay the limits

I know the case is worth in excess of 120,000

My question or questions:
1. Assets Check - my carrier said they obviously can not release their search due to privacy, but said it doesnt meet their criteria. it almost sounds as he has some type of assets but they will not pursue. How can I find out what assets he has without retaining an attorney?

2. IF there are assets do I have to retain an attorney or can I handle it on my own by filing suit?

3. I would think I can settle my UIM as I will only release my insurance carrier, but I would think the claimant's policy will not pay their limits since I am not willing to sign a release if indeed there assets.

Please clarify

fjonic said:

1. Assets Check - my carrier said they obviously can not release their search due to privacy, but said it doesnt meet their criteria. it almost sounds as he has some type of assets but they will not pursue. How can I find out what assets he has without retaining an attorney?

2. If there are assets do I have to retain an attorney or can I handle it on my own by filing suit?

3. I would think I can settle my UIM as I will only release my insurance carrier, but I would think the claimant's policy will not pay their limits since I am not willing to sign a release if indeed there assets.

Please clarify

Click to expand...

1. You could hire a private investigator to find out what assets he may have. That should not cost you a lot of money at all.

2. If you turn down the settlement, you would probably need a Personal Injury attorney who will take at least 1/3 (so your case needs to worth at least over 180k to be worth it), because the other insurance company will provide a defense and this case will likely be far beyond your ability to handle alone with the medical experts, trial, etc. This isnt an easy small claims type of situation.

3. If it turns out the other driver does have assets and you sue, the other insurance company wont pay a dime until you win, because without a settlement they have a duty to defend their policyholder and will only pay when liability and damages have been proven. As for your insurance, I'm not sure what will happen, depending on their company policy. If you are going to sue instead of settle, then the other driver isnt really underinsured until liability and damages have been proven.

Think about your next step carefully and consult with a lawyer. If your case isnt worth well above 200k and you already have 120k on the table, it might not be worth it. I hate to bring this up, but a lot may also depend on what ultimately happens. If your husband loses his foot, its going to be worth a lot more money than it would if he makes a full recovery. Usually people who win these huge judgements suffer devastating disabilities and would probably wish they had their health instead of the money.

thank you for your response.

I COULDNT AGREE MORE! if i had the chance to have my husband 100% healthy and not screaming in pain during physical therapy or just laying in bed in pain I would take that without a second thought.