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Asset Management And Protection by Morgan Legal
Contact
Address: 2899 Ocean Avenue, 2nd Floor, suite 3, Brooklyn, NY 11235
Phone: 718-489-9176
Website:
http://www.morganlegalny.com/who-needs-asset-protection
About US
Anyone who works in certain industries knows they must protect their career and
accumulated earned income in some manner. However, many of these affected
individuals do not realize that merely purchasing a professional indemnity
insurance policy is not an effective plan. The type of coverage or scope of
protection can vary with different personal situations, but the concept is the same
across the various industries. In addition to insurance protection, it is also a sound
business decision to establish a revocable living trust as well that can be used to
shelter idle personal wealth. It is commonly understood that contemporary
society is easily the most litigious business environment known throughout
history. This condition requires all high-income earners to always evaluate their
need for financial protection instruments that shield them when legal disputes
arise. One thing is for certain in contemporary society. Legal conflicts happen on a
regular basis, meaning that being prepared beforehand is always the best step for
anyone who may be financially liable beyond maximum insurance coverage.
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 assets. 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.
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Nearby Locations
Flatlands| Midwood| Mapleton| Bensonhurst| Kensington
11234|11230|84664|11201|20895
Additional Details
Hours: 24 hours
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NYC Asset Protection Lawyer
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