Super-rich Americans are using these 4 little-known techniques to protect their assets from lawsuits — should you use them, too?

That’s why it’s important for the super-rich to take steps to protect their wealth. Here are some of the tactics they employ.

Personal liability insurance

It's common for homeowners insurance and auto insurance policies to include liability insurance. But these policies often offer a limited amount of personal liability coverage.

One way the ultra-wealthy can protect themselves is to purchase additional personal liability insurance that goes beyond the coverage built into other policies. These are often referred to as “umbrella” policies and can provide additional coverage worth tens of millions of dollars.

Most homeowners insurance policies, for example, provide a minimum of $100,000 in liability coverage, according to the Insurance Information Institute. For the high-net-worth households, that may not cut it. But even if you're not wealthy and want more protection, you can talk to your insurer about increasing your liability coverage for an added fee.

Owning assets jointly

Owning assets jointly with a spouse, child or other family member may protect you from lawsuits to some degree. For creditors, pursuing jointly owned assets would mean having to file a partition action in order to acquire it outright, which can be costly and time-consuming. Plus, some states have laws protecting jointly owned property and assets in situations when one party is being sued.

While this is a strategy the super-rich can employ, it's an easy one for any married couple to take advantage of, especially if they’re inclined to jointly own most major assets anyway.

Keep in mind, though, that you may need to make changes if certain assets are only in one person’s name. Laws about joint-ownership can also vary by state.

Trusts that are safe from lawsuits

Establishing a trust is a big part of estate planning for the wealthy. But even modest earners can use trusts to pass wealth on to any heirs. However, if your goal is to protect yourself from lawsuits, you'll need to make sure you're using the right legal tools.