Proper planning for physicians, dentists and other medical professionals involves a number of regulatory and asset protection issues not commonly encountered in planning for individuals and businesses in general. It goes without saying that a medical practitioner wants to provide the best possible care for his or her patients. But he or she must also take steps to provide the best possible protection for the medical business entity itself, as well as the personal assets that have been earned through a lifetime of study and hard work. Sadly, we live in a highly litigious society, and medical professionals are particularly vulnerable to lawsuits. Worse, no matter how frivolous a lawsuit might appear on the surface, you never really know what a jury will decide. Examples abound of jury verdicts that seem to defy all logic, even basic common sense.
At Newman Law Group, we can design a comprehensive plan that addresses the specific threats and special concerns of medical professionals, by combining all the relevant aspects of estate planning, business planning, tax planning and asset protection. We will work closely with you throughout the process, and explain to you the issues surrounding risk management, formation and management of professional corporations, revocable trusts, irrevocable trusts, the flexibility and protections of various estate planning instruments, and more.
In short, we will worry about these things so that you can focus on your own family, career and patients. Contact us today for a consultation.