Asset Management And Protection by Morgan Legal

Asset Management And Protection by Morgan Legal
New York, NY 10023
24 hours
cash, all credit cards, check
One industry whose members are the target of a considerable number of legal actions is the healthcare industry,
physicians and surgeons in particular. While it is a fact that medical professionals are still human and do make
mistakes, it is also true that many claims brought forward are borderline at best. All professionals in the healthcare
industry understand their need for errors and omission insurance protection, but this does not protect personal
The best option for asset protection is usually establishing a revocable living trust that transfers excess personal
wealth under ownership of a separate financial entity. The only damages available in a legal action will then be
limited to insurance policy protection. This is a legal step that should also be part of an overall estate management
plan that could include other financial instruments as well.
Business owners and employers commonly amass significant wealth when their businesses are highly successful.
The problem for these individuals is often protecting assets from business associates, employees, and government
agencies that all could present a legal challenge over any particular issue. Once again, most employers are
protected from most lawsuits stemming from workplace injuries, but that is not always the case when a plaintiff
attorney can prove negligence in a court hearing.
This possibility could also result in punitive damage awards in the wrong situation. Having your personal assets
protected through a comprehensive estate plan can make personal assets unavailable for legal attachment when
major financial liabilities could occur.
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