What if you're sued - and lose? This is one of our big fears. Over 80% of Americans believe there are too many lawsuits, according to a 2006 survey undertaken for the U.S. Chamber Institute for Legal Reform. An earlier survey, conducted for insurer Fireman's Fund, found that 57% of homeowners were concerned they might personally be sued.

In truth, while certain occupations - notably doctors and small-business owners - are frequent legal targets, most of us are unlikely to face a personal lawsuite because of a car accident or because a neighbor tumbles down our stairs.

Still if it happens, it could be financially devastating. Here's a look at which of your assets would be at risk - and how you can protect yourself.

Losing it. Let's start with the good news: Under federal law, the value of your 401(k) plan or your traditional "defined benefit" pension should be protected from creditors. And if a hefty legal judgment forces you into bankruptcy, your rollover individual retirement account and up to $1 million in a regular IRA should also be protected.

Unfortunately, that's pretty much the end of the good news. With most assets, state law comes into play - and legal protections are all over the map. Because state laws vary so much, it's hard to generalize. But as a rule, the simpler the form of ownership, the more vulnerable the asset is.

Suppose you have a fat portfolio in your name in a regular taxable account. "The creditor is just going to grab it," says Gideon Rothschild, an attorney with Moses & Singer in New York. "There's no leverage there." By contrast, if you have money in a variable annuity, life insurance, a limited partnership or a limited-liability company, creditors may settle for less because these assets are harder to get at, says Chris Riser, an Athens, GA., attorney.

Taking precautions.   Getting nervous? Here are some ways to protect yourself.

* Max out retirement plans, starting with your 401(k). This is not only good investment advice, but also a good asset-protection strategy. "That's always the first thing I tell people to do," says Pittsburgh accountant and attorney James Lange.

* Get a personal umbrella-liability insurance policy, which might cost $200 to $400 a year for $1 million of coverage. These policies provide extra protection, over and above the liability limits on your home and auto policies.

* Know your state's laws. Getting information is surprisingly difficult. A good place to start is apbook.com.  You may be able to dig up further information by sticking your state's name and the words "asset protection" into an Internet search engine.