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Q. #5. As a licensed physician, I am very concerned about the rising costs of malpractice insurance as well as high litigation awards. How can I protect myself?
A. This question is more complex than it may appear. There are several questions which must be answered before a viable solution can be provided. For example: (a) in which state do you reside; (b) are you a general practitioner or a high-risk specialist (i.e., orthopaedic surgeon, gynecologist or obstetrician, etc.); (c) are you a sole practitioner or part of a professional corporation; (d) what type of assets to you own and what is their current gross and net worth; (e) what is your annual income; (f) what is the amount of your life insurance coverage and are you the owner of the policy(s); (g) what is your age; and (h) what is your family situation (e.g., married, single, divorced, children, etc.)
With this information we can better recommend an appropriate structure.
Call us today for a free consultation to discuss with you which estate planning and asset protection structure may be of benefit to you.
Our firm's fees are almost always significantly less than those of our most qualified competitors.
Our law firm provides second opinions concerning your current estate planning/asset protection structure.
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