Hi,
What do you folks do in reference to determing how big of an Umbrella policy you carry in FIRE. Equal to net worth, including real estate  ?
A rather well off Brother In law told me he took out an 80% HELOC on his $1 M house in addition to Umbrella. If he gets in a legal situation he'll write a check against it and if there is a judgement against him the HELOC shelter $800k? I am guessing it is because it is a mortgage on the primary residence but not sure.
Anyone doing anything like this or have comments on the merits.
Thanks as always,
Wally
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