Having the Wrong Financial Advisor Can Cost You

3:50 pm Asset Protection, Business Planning, Estate Planning

check up 150x150 Having the Wrong Financial Advisor Can Cost You A recent article at ModernMedicine.com encourages doctors to treat their financial planning like they would when a patient comes to them with a problem outside their area of specialization:  refer to an expert.

The dangers of self-diagnosis in healthcare can be just as hazardous when it comes to protecting your assets and creating your estate plan.  The article encourages doctors to perform a routine check-up on their financial planning by asking themselves these questions:

Do you have an estate planning attorney who has explained the 2010 tax law changes and suggested strategies to transfer up to $10 million during your lifetime to heirs without losing control of the assets?

Has your estate planner discussed with you the opportunity for multigenerational planning that will help you protect assets from lawsuits or divorce?

Does your accountant explain tax law changes to you and suggest ways for you to save on taxes?

Does your estate plan take into consideration investment strategies that provide a hedge against a collapsed housing market, increased tax rates, interest rates and inflation?

Have you been made aware of insurance products that can provide for long-term care or disability in the event you are no longer able to practice medicine?

The article suggests that if you have answered “no” to any of these questions, then you are settling for inadequate financial healthcare, and that could cost you millions.

This advice doesn’t just apply to physicians, but to anyone interested in protecting assets, not only for themselves but for future generations.

Get started by contacting our Orange County asset protection estate planning law firm as soon as possible.

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.