How to Not Get Sued
It turns out you don't have as much control over whether or not you get sued as you thought you did. So go worry about something else.
It turns out you don't have as much control over whether or not you get sued as you thought you did. So go worry about something else.
Have you considered a Family Limited Partnership (FLP) to meet your wealth preservation goals? FLP's can make sense for some docs under the right conditions. But all docs? Not even close.
Today we discuss what you can do to better protect your assets like houses, taxable accounts, real estate, etc. Plus of course answer listener questions about backdoor Roth IRAs, PSLF, marijuana, and cash flow banking.
Financially successful people need to protect their assets or risk serious loss. Steven Podnos of Wealth Care explains the most important ways to do that.
To practice is to be sued...in this guest post Dr. Curiosity describes his experience with the malpractice world.
Need more tax-protected space? Consider giving part of your business to your spouse. Be sure to select the right amount of income to minimize the Social Security tax cost while maximizing the benefits.
Doctors get sued all the time. That's no reason to go bankrupt. Take these steps to protect as much as you can.Most docs are over-worried about being sued above their limits. However, they should still be aware of the asset protection laws in their state.
Lots of people think I hate permanent life insurance (whole life, variable life, universal life etc) and spend most of my time plotting the demise of those who sell it. While it is true that I think p...
If you're a doctor, the odds of you making it through your career without ever being sued are vanishingly small, especially in some of the more liability-prone specialties. Ilene Brenner is an emergen...
[Editor's Note: This is a guest post from Aaron Kahn, a financial advisor with Wealth Management Strategies, Inc. We have no financial relationship. A number of readers have asked for a post on divorc...
Q. I am a DDS and operate my business as an S-corp. My wife and I own (have a large mortgage) our dental building as an LLC that the practice pays rent to monthly. We keep our rent at a reasonable rat...
If you haven't read the first four parts of this series, I suggest you go there first: Part 1: Sequence of Returns Risk, Inflation Risk, and the Safe Withdrawal Rate Part 2: Getting income from your v...
Sometimes, smart people simply aren't aware of the financial issues they need to take care of. New physicians either need to do their own financial planning, or pay someone else to assist them with i...
[Editor's Note: This is a guest post from Douglas Segan, MD, JD, an emergency physician and an attorney who enjoys educating physicians about asset protection through his writing and lectures. He re...
In part 1 of this series, I discussed investing and tax issues and how they are different for a "high-income" doctor ($500K-$2M per year) versus a typical doctor ($150K-$400K per year.) In part 2, Mi...
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