Asset Protection for Physicians
Asset Protection Planning, or Risk Management Planning, has been practiced by attorneys, financial planners and accountants for several decades. Business owners have always had concern over the exposure that personal assets have to claims against the business. The corporate form of business entity with the shield of limited liability has been invoked for centuries. Over the last few decades, expanding theories of liability and the proliferation of litigation has given increased emphasis to Asset Protection Planning, to the extent that it is now a well recognized area of legal practice.
Why The Increased Liability Exposure Over The Past Thirty Years?
There are several principal reasons of which most of us are aware:
1. Plaintiffs’ lawyers have made huge contingency fees on malpractice and class action lawsuits. Obviously, the financial reward drives this kind of legal action.
2. The deep pocket theory where those who are “have nots” want a piece of the assets of those “who have.”
3. We live in a victim-oriented society where people try to place blame with a financial remuneration attached to it on someone who has the financial resources to pay.
4. The increased media and society awareness of claims results in high notoriety for these types of lawsuits and creates a ready and willing audience of plaintiffs. Doctors and dentists are especially high profile targets because of the technical and somewhat subjective nature of the services they render and because of the public perception of wealth of these types of professionals.
These reasons listed above and more is why it is very important to start planning for the what if’s in life. At some point you will find yourself in a position that could have been prevented by creating an asset protection plan for yourself and your practice. As a doctor, we understand the daily stresses that occur while working and we simply wish to remove one stress from that pallet by protecting you from frivolous lawsuits and creditors who are out to make an easy buck.
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What will you learn?
– How Asset Protection can work for Your Practice
– Why Doctors and Dentist are at risk for malpractice claims
– Why Asset Protection is Right for You
– Why You Should Seriously Consider this Type of planning
Expert, High Integrity, Creative –“Jeff is a highly competent, highly principled attorney. He is extremely knowledgeable in the areas of estate and asset protection planning. He is thorough, organized and detail oriented. It is truly a pleasure to work with Jeff, and I would not hesitate to recommend him to anyone in need of estate or asset protection planning.”
I am pleased to give an excellent recommendation to Jeffrey Matsen, whom I have known professionally for more than 5 years, in advanced estate planning & asset protection groups; WealthCounsel, & Southern California Institute. Jeffrey has been an outstanding mentor and co-counsel on several asset protection planning cases. He assisted in protecting a medical professional from alleged malpractice & criminal liability; the medical professional was completely exonerated and saved his personal assets. It is my pleasure to give a superb recommendation to Jeffrey Matsen.