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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Today's question comes from Sadie in New Hampshire.

She says, I'm being sued by someone who is seriously injured in a car accident that was my fault.

I know this process can take years and my insurance company is handling the legal, but I have substantial assets and

I didn't have an umbrella policy.

My home and my financial assets are at serious risk.

I'm a 64-year-old single woman with about a million dollars in retirement funds

800,000 in non-retirement investments plus 230,000 in cash in the bank. I also

own a home worth about 600,000 with about 425,000 in equity.

I've spent my life building a business and financial security and I'm debt free except for the house,

but now I feel like everything is in jeopardy.

I also still make a large salary from a business I own.

At this point, what can I do to minimize my exposure

and potential loss of wealth?

Well, it's anything you do, I'm not an attorney, and I'm certainly not an attorney in New Hampshire.

I don't even know one law in New Hampshire, except to follow the speed limit.

But in general, as a business person, I've learned the legal theory is this,

that if you move assets after a lawsuit has been filed in order to avoid people getting those lawsuits.

The judge can come back later and undo that move and still give it to them.

So if you took, for instance, if you took something and moved it into an LLC or moved it into a trust or something in order to do

risk management it's too late.

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