How To Document Property Damage Claims at Your Business or Medical Practice: Asset Protection

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As we’ve seen across the United States over the last year, severe weather, disasters and even intentional acts of vandalism can cause financially devastsing  property damage. Below are tips on how to document and pursue claims with your insurance company to enforce your rights under your  property and casualty policy. • Step One: Actually having […]

Lawsuits Against Doctors Are For More Than Just Medical Care Delivered

Getting back to the asset protection roots of our discussions, today we examine a variety of liabilities for doctors that are not strictly related to the “standard of care” at the center of most malpractice claims. If you joined us last week, we discussed so-called “defensive medicine” and the idea that limiting diagnostics based on […]

Income Tax Deductions Doctors and Business Owners Often Overlook

CPA TJ CASEY

As tax day bears down on us with increasing momentum, I turned to a CPA for some tips on commonly overlooked deductions. As always, legal and tax advice given in this forum can only be general information and can never be considered individual tax advice, so discuss these issues with your own CPA now, while […]

Asset Protection and Wealth Preservation Attorney and Author to Speak on in Maui, November 21st, 2013

A Seminar About Protecting Your Wealth and Assets

FOR IMMEDIATE RELEASE:   Maui, HI.  November 17, 2013. Asset Protection Attorney Ike Devji will be the featured guest speaker at a November 21st, 2013 educational seminar for doctors, business owners and other high net worth individuals sponsored by Ronsman & Associates, a wealth advisory firm serving specially qualified clients in Hawaii, Arizona and Alaska.   […]

Employees, Financial and HIPPA Data Create Risk for Medical Practices and Business Owners

HIPAA and financial data present an ongoing asset-protection issue for physicians and medical practices. This week we take a look at a specific exposure suffered by up to 40,000 (yes, 40,000) patients of one Arizona medical practice and some simple precautions that may help your practice avoid the same exposure.  While written for doctors, this […]

Drug-Based Treatment Liability Issues for Physicians

DRUG LIABILITY

A variety of medical specialties use drug-based treatments administered by the  physician’s office as a routine part of their treatment regimes. This usage presents expanding serious liability issues that require serious consideration  and risk management. The use of specialty-compounded drugs to treat a variety of ailments is on the rise (one recent report says they […]

Doctors Lack Key Financial Planning Info

Recently, I read a 48-page report issued by AMA Insurance on financial preparedness among  physicians, based on 2,500 respondents. Consensus: Many doctors feel  they are under-planned and undereducated about personal finance issues. The good news? We’ve already covered and continue to address many of these issues for you here and at www.PhysiciansPractice.com, where this article […]

Asset Protection Trust Jurisdictions for Physicians – Part 1, Domestic

In our discussion two weeks ago we introduced the Asset Protection Trust (or APT) as a tool and answered some of the most frequently asked questions regarding what it is and how it differs from the estate-planning trust many doctors already have in place. We continue our discussion of the APT this week and examine […]

Tax Scams: I.R.S Dirty Dozen Targets Doctors and Business Owners

  With fewer than 60 days until tax time the annual 11th-hour tax planning rush by doctors is in full swing. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter. “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” IRS Commissioner […]

Addressing Employee Liability Issues at Your Medical Practice or Business – 12 Month Practice Tune-up

12 Month Medical Practice Makeover

January 08, 2013 | Finance, Risk Management, Law & Malpractice, Staff By Ike Devji, JD Happy New Year and thanks for continuing into 2013 with us. In one of my last columns of 2012, I suggested that many of the complex issues we discussed together over the last few years in this forum can seem […]

Start-Ups: When Does Liability for Your Business or Medical Practice Begin? – Asset Protection

BUSINESS AND MEDICAL PRACTICE OWNER LAIBILITY

The many discussions we have shared here have largely centered on asset protection and other legal and financial issues faced by physicians and business owners. The bulk of those discussions assumed that you own or run a business or medical practice. Due to the growing availability of financial and legal education resources available to business owners, […]

A Physician’s Start-Up Guide: Picking the Best Real Estate for Your Medical Practice

Buying the perfect building for your medical practice requires you to consider much more than “location, location, location.”  In our first two discussions on starting a new practice we’ve examined both the fine points of doctors’ serious liability for debt involved with buying a building or financing a medical practice start-up and common issues physicians […]

The Physician’s (and Business Owner’s) Simple Asset Protection Self-Exam

Several readers have contacted me with a similar question after reading many of the discussions featured here. Though phrased in different ways, the question is essentially this: How can I quickly figure out what I have exposed at any given time? I’ve provided a simple start to answering this question for you below. It will […]

The Physician and Business Owner’s Guide to Selecting a Lawyer

We’ve covered many issues affecting doctors and their business and legal needs, specific exposures, and even some of the team members required to run a medical business. Hopefully this discussion has allowed you to identify areas in your own practice where you should be asking the right questions and seeking the guidance of experts. Today […]

D.I.Y. Asset Protection Strategies Every Physician and Business Owner Can Implement

Many of the issues and case studies we have discussed on physician asset protection planning in the age of decreased earnings and unlimited liability may seem daunting and complex. Fortunately, not all the moves you can make require a great deal of time and expertise to address. Here are some small simple issues that every […]

Real Estate Liabilities and Physicians’ Financial Solvency

As an asset protection attorney, my primary responsibility has always been helping clients identify and proactively plan against as many litigation-related exposures as possible. That planning now includes a more complete evaluation of financial and economic risks than ever before. Below is one common example that illustrates the challenges many are facing and the importance […]

Computer Disposal at Your Business or Medical Practice: The Other Hazardous Material – Asset Protection

We start 2012 by addressing something you may have already done — replaced or updated computers and other electronic equipment in your practices – and the liability it creates. Like many other businesses, medical practices often replace or order new computer and electronic equipment at year end to generate additional expenses and deductions and to […]

Beyond Pie Charts: Three Vital Year-End Financial Planning Questions for Doctors

law and money for doctors

The complexity of the current business environment and economy can easily feel overwhelming to many medical professionals. As we’ve discussed in previous articles, asset protection and wealth preservation planning for doctors is not just about litigation and must include a holistic balance of legal, financial, tax, and insurance planning. My work with some of the […]

Common Estate Planning Mistakes Made By Physicians

For most doctors, the second step taken in personal financial and legal planning after setting up retirement accounts is some basic estate planning, typically in the form of a will or a revocable living trust. Below are some of the common issues that negatively affect physicians and their families if not properly addressed. The good […]

Asset Protection for Your Medical Practice or Business , Learning To Fire the Right Way

By Ike Devji, J.D. Imagine that after two decades in business with 100 plus employees and not a single EEOC or employment complaint your business is facing a class action lawsuit by disgruntled former employees discharged for cause. Imagine that these employees call every other employee they can reach and try to get them to […]