Above all other professions, doctors have the biggest target on their back when it comes to being sued for negligence.
Unfortunately, most doctors do NOT have a proper asset protection plan in place.
What is a proper asset protection plan?
It’s one that protects their assets (brokerage accounts, real estate, business assets, etc.) from all lawsuits.
Comprehensive asset protection
While having a proper asset protection plan in place to protect assets from lawsuits, such a plan is incomplete if the goal is to protect assets from “ALL” known creditors.
Questions:
Who is your #1 creditor every year? The IRS. Therefore, reducing income, capital gains, and estate taxes is a form of asset protection.
Is the stock market a creditor? Absolutely. You are much more likely to lose 10%, 20%, 30+% in the market in any given year than be sued for negligence.
Who will be your #1 creditor in retirement? Long-term care and health care costs.
A comprehensive asset protection plan will help doctors protect their assets from “All” known creditors.
The basis for the advice I give to doctors is the #1 book in the industry to help doctors grow and protect their wealth.
The book is The Doctor’s Wealth Preservation Guide (see below) written by Roccy DeFrancesco, JD.
I work with Roccy to help my doctor clients get their comprehensive asset protection plans in order.
Asset Protection Assessment
If you would like an assessment of your situation, I would be happy to provide one.
Simply email me at donald@lighthousefinancialservices.net or give me a call at 760-408-2273 and we can setup a time to talk or meet in person.
