Legal Question in Credit and Debt Law in California

I think you should be good.

Do not trust Mr. Marman's answer. Without an evaluation of what liability exposure you may have based on your business and personal life, there is no way to properly answer your question. Large businesses and major government agencies have entire staffs who do nothing but evaluate the same question you are asking. They are called "risk management" professionals. You don't necessarily need to hire a risk manager, but you cannot answer your question in a vacuum either.

I would certainly get one in your situation (and I do have one). It is relatively cheap. This is something you can discuss with your insurance agent. For example, I was advised to reduce the liability coverage limits on my home and vehicles and the savings from that went to buy the umbrella liability policy. I got one million dollar liability coverage on my home and cars for only about $200 more a year and the coverage is broader and includes my second home and boat. Liability for an accident not only puts your present assets at risk but also future earnings and income. Once you take the retirement money out of the account to pay living expenses, traveling or whatever then it becomes subject to being taken by a creditor with a judgment for personal injury or property damage.