The reasons for this have a lot to do with the way that our court system is set up. Anyone can file a lawsuit for almost anything. There is very little to deter someone from doing so, in most cases.
Even if the plaintiff loses, he does not have to pay the defendant's legal bills, which can be quite high. Consequently, no matter how wealthy a person is, they can be sued and potentially lose everything if the court system rules against them, rightly or wrongly.
Therefore, it is extremely important for the wealthy to protect their assets from potential creditors, as the Wills, Trusts & Estates Prof Blog discussed in "Asset Protection Measures."
The good news is that protecting assets from potential creditors is not an inherently difficult task.
Estate planning attorneys have many ways to assist clients in doing that.
A trust is typically the best option for doing this. However, there are other ways to protect assets, including utilizing retirement accounts and college savings plans.
As a last resort, insurance can be purchased to protect against creditors.
You should protect your assets, and you should visit with an estate planning attorney to determine the best way to do so.
Reference: Wills, Trusts & Estates Prof Blog (May 31, 2017) "Asset Protection Measures."