Asset Protection Planning
With physician income dropping, it's becoming imperative to
plan for financial success. Success requires not only the successful accumulation
of assets, but also must include the protection of assets gathered over a career.
Unfortunately, we find that most physicians have little knowledge of the strategies
needed to retain their assets in the event of a lawsuit or a physical hardship.
doctors work so hard during their professional careers, they assume that earning
and accumulating assets will result in financial success. Unfortunately, our increasingly
litigious society can place assets at risk. In addition, the risk of a career-ending
disability or untimely death may destroy an otherwise well-conceived financial
Our goal is to provide a strategy to protect a physicians financial plan
from a physical or legal hazard. The appropriate use of insurance products is
explored and various asset protection strategies are analyzed and implemented.
Review current planning effort
Evaluate and review various strategies
Coordinate with estate, investment, retirement and business planning
The professionals at PWMG have found that medical professionals are in particular need of asset protection
and risk management guidance. Assuring financial goals requires nothing less.
Asset protection plans should be developed and implemented well before problems arise. Due to the fraudulent transfer laws, asset transfers that occur close in proximity to the filing of a lawsuit or bankruptcy can be interpreted by the court as a fraudulent transfer. Proper structuring of these assets is imperative please seek proper legal and tax advice prior to engaging in re-titling/structuring of any assets. Please note that laws are subject to change and can have an impact on your asset protection strategy.