Physicians and other providers need to take additional steps to protect hard-earned business and professional assets. You’re busy growing your practice, and you may think that having a will or trust as well as a standard-issue property and liability insurance policy is sufficient protection.
While insurance is a necessary part of any asset protection strategy, other factors, such as its legal structure, are equally important.
The main thing to remember is to act now. Too many physicians and other business owners defer taking steps to adequately protect their assets, as well as the very business that generates income, until it’s too late.