Securing Housing from being Sued

[Brandon Wilmot]

So, this is kind of out there but bear with me.

My parents are new to Real Estate Investing and are generally difficult to persuade to join websites such as this.  They recently bought a Buy and Hold property.  My younger sister who was a minor at the time got into a vehicle accident which totaled both vehicles and sent one of the other two individuals to the hospital for a few hours.  She was covered under my parents insurance.  The other individuals have up to three years to sue my parents.  This was approximately a year ago.  What would be the best option for them to protect their newly acquired asset in the case that they are sued?  This is in New York.  Any advice is greatly appreciated.