Physician Asset Protection

Physician asset protection is a critical subject for physicians, dentists, and chiropractors because litigation jeopardizes one's assets. Ofen times, physicians are concerned about malpractice lawsuits, but the reality is business and partnership lawsuits and real estate/personal injury lawsuits are a greater concern or should be a greater concern.

When I speak of asset protection, I am talking about a comprehensive estate plan along with an examination of your assets and how you own your assets such as real estate, mutual funds, and bank accounts. For example, I represent one physician that is on appeal at this moment where the physician received a $1.6 million judgment against him due to a partnership dispute.

Fortunately, the Physician and his wife employed our legal services and their assets have been well-protected except the Physician has had part of his wages garnished at fifteen (15) percent. The garnishment of wages is tough to stop if you work as a W2 employee. Neverthless, the creditor ended up settling with the second physician Defendant for an undisclosed amount legal fee. My client is well-situated and our only liability risk is a new citation to discover assets. A Citation to Discover Assets is a under oath examination of one's assets where your creditor will ask you about all the assets that you own. Generally, you can have $4,000 in the Bank Account without facing a long-term threat against your assets. In my client's situation, the liability risks are minimal because the client and his spouse are well-aware of proper asset protection.

Sean Robertson is an estate and asset protection attorney who concentrates in representing physicians, dentists, and chiropractors with their unique estate and asset protection goals.

Sean Robertson can be reached at (312) 498-6080 or Sean@RobertsonLawGroup.com.