How vulnerable is the home to lawsuits?
Many Americans consider their home their most valuable and vulnerable asset. Certainly, it’s the one asset for which they have the most concern when they are sued because they are most emotionally attached to their home. The home is also vulnerable to lawsuits because it’s usually titled personally to their owners. Personal ownership may be necessary for conventional home financing and to claim the federal capital gains tax benefits, homestead protection, and real estate tax abatements available to seniors.
