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Surgery Center - how to title the shares?

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  • Surgery Center - how to title the shares?

    Hi all,

    I am a pediatric urologist and was recently offered shares in an ASC. My husband is a surgeon as well and is anticipating buying into a separate surgery center in the next 1-2 years. We are trying to decide how to title my shares from both an investment and asset protection standpoint. Some of my partners use an LLC, some have their shares in a trust and some have them in an IRA (not an option for me b/c of my Roth). Some own them individually. My tentative plan is to create a single-member LLC (and my husband will likely do a separate one for his ASC); I'm waiting on the final recommendation from our attorney on this, but he had expressed some concern that the logistical hassle of creating/maintaining an LLC might not be worth it, and that a single-member LLC might not provide significant asset protection. I would appreciate any advice from this group.

    Thank you!

  • #2
    Listen to your attorney and the laws of your state, very state specific.
    https://www.nolo.com/legal-encyclope...mber-llcs.html

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    • #3
      +1 on what Tim said, this could be a very important decision for you, you should consult your attorney on this one, as well as your CPA.

      Also asking colleagues for their opinion, and possibly speaking to their attorneys as well.

      Maintaining an LLC is not usually overly burdensome but it will add to your costs.

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      • #4
        Do be aware that some surgery centers may be incorporated in such a way or have bylaws that prohibit ownership by a separate corporation. The surgery center I am a part owner in is structured in just this way, which means the shares can either be held individually or within a trust.

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