With the recent lawsuits filed against the estates of the Lr 60 crash in CAE, I believe now would be a good time for pilots to look at their options for asset protection. This is for all pilots. It is more important than ever that pilots understand and protect their families from these types of lawsuits. One way of doing so is to incorporate, and have the corporation own all your property. You will need legal advice on setting this up based on state of residence, however it's not all that difficult nor expensive. This protects you and your family and an also unintended plus is that there are no capital gains taxes when selling.
I am not an expert in this field and strongly suggest all pilots to at least look in to this. The families of the deceased pilots are grieving the loss of a loved on and now must also contend a bitter battle for their homes and other various assets.
Maybe someone with some experience in this matter can chime in and guide us to the best resources.

I am not clear of what kind of protection incorporating one self will afford. But I would have thought that any lawsuits would have been filed against the charter company, Not the pilots. I also thought that incorporating was only for the self employed or small business?
Maybe Vagabond will chime in.

I'm sorry, I wasn't clear. The benefit of having a corporation whether you're an independent or not is that your corporation can then buy your property( house, condo, car, boat etc) If done properly, no one will be able to touch your assets. I know many independent contractor pilots that have set up their businesses by incorporating but stopped there. If they did some more research and hired a proper tax/corporate consultant, then they would have complete asset protection.