The 10 Biggest Legal Mistakes Physicians Make When Dealing with Asset Protection Professionals
By James J. Everett, Esq.
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