Financial practices should be an important component of your overall plan as a doctor. There’s no doubt that you’ve already been through a great deal of work, education and training to get where you are today and it’s simple to overlook the possibility of protecting the assets you’ve worked so hard to create.
However, if you don’t take care of yourself now, you could be exposed to unnecessary risks without asset protection planning. From evaluating risks to conquering debt and establishing a budget, asset protection planning goes much farther for doctors.
Every year you should review your estate planning and asset protection planning roadmap, including your retirement, investment, estate, tax, lifestyle, insurance and asset protection planning. The perception that you have a great deal of money could increase the chances that someone will file a lawsuit against you.
Whether this lawsuit is frivolous or not might depend but the potential liability of facing lawsuits should prompt you to sit down with a Pasadena estate planning attorney to discuss your comprehensive asset protection plan.
Given the likelihood that someone will file a lawsuit against you in the future, it’s important that you take these proper planning steps now to get the maximum benefit of asset protection planning.
Ready to put some asset protection plans in place? Our Pasadena estate planning lawyers are here to walk you through this process.