Should I submit a financial affidavit after a car accident?
car accident attorney Hawaii Jul 21, 2026
Location: Accident happened in Oregon but I live in Washington state Hi all, looking for a bit of help. I've tried to research as much as I can, but wanted to see if anyone has additional insights. ~1.5 years ago, I was in a car accident. It was determined by insurance that I was at fault. I was notified that the other party had hired an attorney for bodily injury a while ago, but received notice today from my insurance company that the other party is seeking reparations up to my policy's limit ($250k/person for bodily injury, $100k for property damage) and is also requesting a financial affidavit. My insurance company stated submitting the affidavit is optional. The opposing attorney stated that a refusal to pay the limit on my policy, will then result in a personal lawsuit being filed against me. State Farm is still reviewing the information to respond to the demand. 2 questions: 1) Any thoughts on whether I should submit the financial affidavit? I know the other lawyer is fishing for more money. If it helps, I'm a newly graduated dentist (~2 years ago) and bought a practice (S Corporation), so I have $500,000 worth of student loans and about a $1 million practice loan. I rent an apartment. Between my taxable brokerage and my emergency/personal fund I have about $80k. Roth IRA has ~$8k. Business checking account has some money in it, but from what I understand is shielded since it's an S Corp. 2) Is it unreasonable for me to ask State Farm to pay the limit on my policy so that a personal lawsuit does not occur? Always appreciate the thoughts that I see from the Reddit community and am thankful for any help you guys can give. Appreciate you all!
