The 10 Biggest Legal Mistakes Physicians Make When Dealing with Asset Protection Professionals

By James J. Everett, Esq.


Executive Summary

Every practicing physician faces the risk of a lawsuit. Although many physicians mistakenly believe that they will never be sued, thousands of physicians are served with medical malpractice claims each year. To minimize the risk of personal and business assets being seized in the event of an adverse monetary judgment or settlement, physicians should consult an asset protection professional about protecting their assets. In doing so, they should avoid making the following common errors when dealing with asset protection professionals.


Mistake 1            Not Considering Asset Protection Planning

Mistake 2            Trying to Do It Alone

Mistake 3            Relying on the Internet or Do-It-Yourself Books for Advice

Mistake 4            Using an Unlicensed or Unqualified Professional

Mistake 5            Not Following the Professional’s Advice

Mistake 6            Not Disclosing All Assets

Mistake 7            Failing to Disclose a Lawsuit, Threatened or Actual

Mistake 8            Waiting Until It’s Too Late

Mistake 9            Expecting to Save Taxes

Mistake 10          Not Keeping the Asset Protection Plan Current



The above has been excerpted from the SEAK text, The Biggest Legal Mistakes Physicians Make and How To Avoid Them