Asset Protection for Physicians

Asset Protection for Physicians

Asset protection is a legal strategy that diminishes your asset risk profile and discourages lawsuits from being filed against you. Simply put, asset protection is making you judgment proof and protecting your assets in a manner that discourages creditors and plaintiff attorneys from suing you in the first place.

Today, there is a huge trend of litigation, which seems to be increasing. The costs of malpractice premiums are increasing and it is jeopardizing many physicians ability to practice medicine in a profitable manner. Furthermore, physicians are constantly investing in real estate, their medical practices, stocks and bonds, and other business ventures, which increase their risk profile.

How To Work With An Asset Protection Attorney

An Asset Protection Attorney's Job is to work with the Physician and find out about the Physician's insurance, investment, and business risks. Hence, the Attorney will use Trusts, LLCs, & many other vehicles to protect the Physician's investments and assets.

Example of the Need for Asset Protection

Asset Protection is important because one lawsuit can jeopardize your family's financial future. For example, I have a physician who was involved in a business partnership and the partnership dissolved and a couple of physicians competed against the business partnership. Thus, the departing physicians possibly breached their non-compete agreement. This resulted in litigation and litigation brings counterclaims. A counterclaim is when a person sues another person and that Defendant sues the Plaintiff. A counterclaim is typical because the best defense is a good offense. In this example, the Defendant set up an Limited Liability Corporation (LLC) but set up his LLC ownership interest in his personal name. Therefore, all of his personal assets were exposed. Fortunately, for him and his family, we had done asset protection and his primary residence, his condo, and his personal assets are well protected. The opposing attorney has not pursued my client.

For more information about Asset Protection, please call Sean Robertson, Esq. Sean Robertson concentrates his practice in Asset Protection, Estate Planning, & Elder law. Sean Robertson has an expertise in representing Physicians and derives about 80 percent of his revenue from representing Physicians, Dentists, & Chiropractors. Sean Robertson can be reached at 312-498-6080 or RobertsonLawGroup@gmail.com.

Contact Information:
Sean L. Robertson, J.D., Esq.
Robertson Law Group, LLC
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312-498-6080 f) 312-377-2480
e) RobertsonLawGroup@gmail.com