Asset Protection

The unfortunate reality for physicians is that at some point in their careers they will likely become the target of a lawsuit.  Many physicians understand it's not a matter of "if" but "when".

At Reiman Financial, LLC we understand that our clients are at risk for judgments not only from malpractice cases but from failed marriages, bad investment decisions, and accidents associated with real estate or other investments.  We help our clients protect their assets from judgments, title property correctly and take steps to make themselves less likely targets of lawsuits.

Are you properly protected?

Answer the following questions to determine if your assets are bulletproof or vulnerable.

1. Do you have a team of advisors helping you protect your assets?
   Yes
   No
   Not Sure
2. Do you know which of your assets are protected from litigation by state and federal law?
   Yes
   No
   Not Sure
3. Do you know the statistics for litigation in your field?
   Yes
   No
   Not Sure
4. Are you practicing in a high risk specialty?
   Yes
   No
   Not Sure
5. Are you aware of fraudulent conveyance laws?
   Yes
   No
   Not Sure
6. Do you know the correct amount of malpractice insurance for your specific situation?
   Yes
   No
   Not Sure
7. Do you supervise employees?
   Yes
   No
   Not Sure
8. Are your accounts receivable protected?
   Yes
   No
   Not Sure
9. Are your assets titled correctly to keep them out of a creditor's reach?
   Yes
   No
   Not Sure
10. Is your property titled correctly to keep it out of a creditor's reach?
    Yes
    No
    Not Sure
11. Do you use your Retirement Account as a way to protect your assets?
    Yes
    No
    Not Sure
12. Are your assets owned by various business entities?
    Yes
    No
    Not Sure
13. Do you have assets in a Family Limited Partnership?
    Yes
    No
    Not Sure

If you answered "No" or "Not Sure" to any of the above questions, your assets may not be sufficiently protected. The higher number of "no" and "not sure" responses you gave, the higher your risk may be.  Reiman Financial, LLC helps physicians create and implement asset protection plans that allow their assets to grow safely, out of reach from creditors or judgments.

For more information on this topic, see Chapter 8 in Financial Fund of Knowledge by Michael Reiman and Max Adams.

One of the biggest obstacles most physicians face in asset protection planning is procrastination. Just like patients who postpone visits to their doctor often find after the visit that their condition is much worse than they expected, physicians who postpone meeting with a financial advisor often learn that they should have begun planning much earlier for better financial health.  Work towards maximizing your financial strength: Contact Reiman Financial, LLC today for a consultation.

The representative does not provide legal or tax advice or services.