Let's say I am an "independent" (a.k.a. "unemployed") CFI--which I am. Let's say I'm not incorporated--which I am not. Let's say someone uses me for instruction/BFR/whatever--they haven't, but they could. Is there any limit to my potential personal liability, if I've indorsed them or I'm flying with them, and they prang their aircraft or hurt someone?

Could I/should I have the customer/trainee sign something to the effect of releasing me from later liability? Is this reasonable, or am I paranoid?

Any info/experience appreciated.

Zach