After years of school and clinical training, you are now ready to begin your medical career.
Or, are you?
You are most likely dealing with a lot of concerns at the moment such as work-life balance and unforgiving student loans. One thing you are likely not adequately planning for is the possibility of getting sued.
According to the American Medical Association, 61% of physicians surveyed had been sued at some point in their career. That’s more than half. Are you prepared?
Unfortunately, having malpractice insurance is not enough to ensure your personal assets are shielded from the risks of your profession. There is always the possibility that a judgment against you exceeds your malpractice caps in a lawsuit, at which time your money and assets will need to be used to settle the debt.
A comprehensive asset protection strategy for a physician here in Collin County should include several components. When beginning your journey through asset protection planning, it is best to work with an experienced asset protection lawyer in Collin County rather than to depend on advice from well-meaning colleagues.
There really is no one-size-fits-all plan to depend on. An asset protection attorney will work through a series of legal strategies that will deter lawsuits and prevent the seizure of your assets after a judgment. Basically, a firewall will be created which will force your legal opponents to quickly recognize the difficulty of pursuing a claim and make it impossible to collect.
You are a doctor just beginning your career – you’re crazy busy. We get it. But, make time to get your affairs in order so that you can begin your journey without the stress of a potential financial nightmare. Give us a call at (214)292-4225 today, and we’ll schedule a no-cost, no-obligation meeting to help you get started.