Okay, I’m confused…unless you commit some sort of OJ-style crime or do some other atrocious thing that is clearly your fault (such as driving while under the influence and ending up killing someone in a car accident), why else would a person need to declare bankruptcy and have to worry about sheltering assets? Unless we’re talking about bankruptcy due to investments gone bad, but I thought the concern was about worst case/liability issues, not investments gone bad?
Doooh, doesn’t a PEL policy address the concern? Or is there some potentially risky scenario about which I should have been worried all these years, but have remained blissfully ignorant?
Maybe this is more for all the legal experts out there – I thought that with a PEL, as long as you remain crime-free, you’ll be covered…no?
