Malpractice is a major concern for Physicians and Dentists because a major malpractice case may jeopardize the financial assets of a Physician or Dentists. Often times, malpractice insurance policies are limited to the first $1 million and in major medical malpractice cases, $1 million in insurance coverage is insufficient.
Asset protection is critical for Physicians and Dentists because of the perception of big pockets. Plaintiffs and their attorneys are finding new strategies and theories to enhance their pocket, which is increasingly scaring Physicians and Dentists.
Asset protection is not fraud but it is re-titling of one's assets to minimize the liability exposure of a Physician or Dentists's assets. A Family Limited Liability Corporation (LLC) or Irrevocable Trust are common techniques to reduce the liability risks of a Physician or Dentists.
Sean Robertson is an asset protection attorney based in downtown Chicago. Sean Robertson can be reached at (312) 498-6080 or Sean@RobertsonLawGroup.com.
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