California Asset Protection for Doctors and Surgeons

7:24 pm Uncategorized

Doctors and surgeons — even the best in their fields — may face malpractice law suits. Malpractice is frequently filed against cosmetic surgeons, and the scary truth is that one out of every four malpractice suits against doctors in this field are won by plaintiffs.

Sadly, many malpractice suits have little to no validity, and those that are valid are stigmatized by the those that are not. So what’s the bottom line? A doctor or surgeon facing a frivolous malpractice suit has a 25% chance of losing — not very good odds. If they do lose and personal assets are not protected, the plaintiff can go after them. Representation chosen by such plaintiffs are after a high settlement for their client. That’s why Jeff Matsen suggests asset protection for doctors and surgeons, especially those who have a high net worth.

Even physicians who have phenomenal malpractice insurance can find themselves vulnerable, and the insurance they have may not cover certain malpractice lawsuits. Structuring wealth and the ownership of your business through careful  Newport Beach asset protection can keep your personal wealth and assets safe from a malpractice lawsuit.

A doctor or surgeon facing a malpractice claim may be up against an aggressive former patient. Once the former patient (the plaintiff) obtains legal judgment against a surgeon or physician, the medical practitioner actually becomes the debtor of the former patient — that means they can go after both personal and business assets. This scary truth makes asset protection for doctors exceptionally important because it gives the doctor control over his assets and estate, but will not name him as the legal owner of said assets.

Consider asset protection before a former patient files malpractice. Deciding to protect your assets at the eleventh hour is generally not as effective as being prepared before disaster strikes. If you are a doctor or surgeon or know someone who is, Jeff Matsen can help protect assets by structuring an offshore corporation, LLC or with other options in asset protection. Contact us today to find out how you can shield your assets from malpractice.

Help is available to you by contacting your Southern California financial planning experts today.

Leave a Comment

Your comment

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.