Assets

Asset Protection and Growth

A Complete Plan for Florida Physicians for the Protection and Growth of Assets.

Of the more common buzz words among doctors, "Asset Protection" is something most Florida physicians hold near and dear to their heart. While a proper asset protection strategy is critical to any provider of health care, asset growth should also be an integral part of any strategy to protect and preserve assets.

Why is asset protection so important?

With no ability to acquire sufficient medical malpractice insurance, physicians practicing in Florida can be ruined by one medical malpractice lawsuit. While non-economic damages have been capped in Florida for medical malpractice, that simply does not provide enough relief for doctors.

Presley Law & Associates, through its legal team, offers a comprehensive plan to protect and grow assets.

How does it work?

The legal team at the Presley Law & Associates first start out by conducting a detailed analysis of the physician's, or other provider of care's, current malpractice insurance, any claims asserted against the provider in the past, and review all currently owned cash-value life insurance products and other potential investments that could be escrowed.

Following the analysis, a detailed plan develops that includes:

:: Proposed structures to limit exposure from potential judgments that include the creations of various entities including family limited partnerships and a group practice LLC;

:: Recommendations of Cash-valued Life Insurance Policy, annuity, or combination.

The Medical Malpractice Program utilizes existing assets, in combination with the Presley Law & Associate’s proprietary methods, to meet the statutory requirements of financial responsibility.

There are several Self-Insurance Escrow Funding Options available:

:: Escrow can be funded with a jointly held annuity or cash-value life insurance policy purchased by the Group Practice and shared among participating group practice members. It is like optimizing key-man insurance.

:: Escrow can be funded on an individual provider basis, if desired giving everyone a retirement plan as well. It is a double magnified benefit structure.

:: In many cases, existing cash-value life insurance policies can be utilized to meet the escrow requirement through a 1035 exchange so there may be no added costs at all.

 

diagonal lines