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Asset Protection | Pro Asset Protection

Negative Publicity: Crisis Management for Businesses, Medical Practices

Issues in the news like the recent Ashley Madison data dump prove how negative publicity related to your practice or  the personal activities of any of its owners or employees, can have devastating effects on your professional reputation and financial solvency. Regardless of the cause, every business and medical practice owner and manager should understand some PR crisis […]

Are 529 plans creditor protected? Maybe.

529 plans

Asset Protection attorney Ike Devji was recently quoted in financial author Geri Detweiler’s article on creditor protection of 529 college savings plans that appeared at Yahoo Finance and Credit.com among several other sites.   SEE THE ARTICLE HERE:  http://blog.credit.com/2015/10/can-a-debt-collector-take-my-kids-college-fund-126590/   The article explores the often complex and confusing laws surrounding the creditor protection of 529 […]

Employment Manuals Commonly Overlooked in Asset Protection Plans


Medical practices and other businesses of all types face many types of risk outside the strict scope of their professional liability. One major lawsuit risk to business owners and doctors is employment-related lawsuits that must be mitigated with a professionally drafted employment manual. I continually stress that a good asset protection plan has many layers, including management of all reasonably anticipatable risks. […]

Crisis Management: Dealing with Bad Press at Your Business


 Events beyond your control and outside the scope of your business can cause reputational damage and receive media and public attention that can literally shut your business down. Knowing how to handle such an event should be part of your asset protection plan. A previous article examined the different types of crisis plans required to operate any business, especially one that […]

LLC Basics For Consumers: Asset Protection


Business owners and Doctors are increasingly bombarded with a variety of asset protection information from different sources of varying skill and experience. One common tool that attorneys and non-attorney promoters alike often focus on is the limited liability company or “LLC.” Unfortunately, because LLCs are relatively simple to create and maintain, they are routinely misused […]

LLC Sales Myths Harm Doctors, Business Owners: Asset Protection


It is important for every doctor and business owner to understand some basics about the Limited Liability Company, commonly known as an LLC; what it is, how it is created, and some of the benefits a well-drafted and maintained LLC can provide. Unfortunately I regularly get reports from my own clients that have been at medical […]

Urgent Care Centers: Asset Protection for Doctors, Owners


Asset Protection attorney Ike Devji was heavily featured in a recent article in The Ambulatory M&A Advisor titled “Asset Protection for Your Urgent Care Business” by Brittany Belli. Devji works with physicians nationwide and is a frequent CME presenter for medical groups on issues including asset protection, wealth preservation and the specific risk management techniques, that […]

Prenuptial Agreements Key Issue in Asset Protection

Asset Protection and Prenuptial Agreements

One of the issues most likely to adversely affect your wealth is a simple statistic: nearly 50 percent of marriages end in divorce. With the summer wedding season upon us it’s time for a simple discussion of prenuptial agreements and why they must be part of every business owner, executive and physician’s risk-management plan. I […]

Asset Protection: The Bruce Jenner Auto Accident


Bruce Jenner was recently in the headlines after being involved a car accident that included a fatality. Based on the latest news reports, it is now suspected that Jenner hit at least two vehicles while driving, and one of the vehicles he hit was pushed into oncoming traffic where the elderly driver was killed, after being […]

Medical Practice Asset Protection: EPLI Insurance


While this article was originally written for Physicians Practice, it applies to all employers and deals with a very significant asset protection risk, employee lawsuits. Protecting your wealth and your business requires several layers, make sure you understand all of them. – Ike Devji In another discussion on medical practice employee risk I explained covered another […]

Tax Scam Warning – Fraud and ID Theft in 2015


Tax filing related scams are at all-time high and we are warning our clients about some specific fact patterns and known risks.  These criminal scams take many forms including mail, phone, email and now even social media and texts. Phone calls and email still seem to make up the bulk of the attempts, make sure […]

Legal Mistakes to Avoid When Selling Medical Practices, Businesses


Many doctors and business owners across the U.S. are in the process of working on selling their practices and/or on a succession plan. Here are four common legal issues to watch out for when selling your medical practice, or any other business: 1. Failing to be independently represented Whether buying or selling a practice, it’s […]

Asset-Protection Basics You Must Understand in 2015


Here are some key conceptual issues about Asset Protection doctors and business owners should understand as we go into a new year: 1. The best medicine, just as in your profession, is prevention, not treatment. Timing is always a key concept from a legal perspective; you may be legally unable to act (fraudulent conveyance, voidable […]

Celebrity Medical Patients Require Extra Supervision, Create Higher Risks


Celebrity (or just high-profile) patients present a number of unique challenges for medical practices and require additional supervision and compliance measures to protect the practice, the patients and staff.     In last week’s discussion I provided some detail on the death of Joan Rivers during her treatment at an outpatient surgery center (ASC), and […]

Joan Rivers’ Death Puts Liability Spotlight on Outpatient Surgery Centers


Comedienne Joan Rivers went into cardiac arrest while being treated at an ASC, or outpatient surgery center and died a week later after lapsing into a coma. As a result, ASCs are in the media and regulatory spotlight for a variety of legal issues, including doctor referrals, standards of care and how they are run, often not […]

Asset Protection Attorney Ike Devji Featured In Wall St. Journal

Asset Protection Attorney Ike Devji

Phoenix, Arizona. Asset Protection attorney Ike Devji was recently featured in a Wall Street Journal story about Offshore Asset Protection Trusts by Norb Vonnegut. “It was pleasure to be part of Norb’s story, especially since he took the time to ask the right questions and do his homework, most reporters focus only on the sensational […]

Is Using Offshore Trusts for Asset Protection Still a Good Idea?


There are many specific methods for implementing Asset Protection planning, some work some don’t. We’ve always had a bias towards the use of offshore trust structures set up at the right time, in the right place with the right language. Why? Because they take the discretion away from plaintiffs and their attorneys and create a […]

What is an ILIT or Irrevocable Life Insurance Trust ? (and why should doctors and business owners use it)


We’ve previously devoted a number of discussions to the use of life insurance by physicians and business owners including a look at how to buy insurance and discussions of its specific uses and how much life insurance a doctor and his or her spouse should have. This week we take an introductory look at a […]

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


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 […]

Arizona Asset Protection Attorneys Featured at 17th Annual Wealth Protection Conference, May 2014

From Left, Attorneys Charlie Davis and Ike Devji

Attorneys Charlie Davis and Ike Devji will be speaking at the 17th Annual Wealth Protection Conference on May 9 and 10 in Mesa Arizona. Topics covered at the conference will include: How To Protect Your Assets For Generations,   How to Safely and Legally Use Offshore Trusts and Banks,  Common Fatal Flaws and Misconceptions That Cost […]