Asset Protection

Shielding Personal and Practice Assets

Greenbook Financial Services looks at each client's financial life in its totality, and we believe that integrated financial planning is not just about accumulating wealth. It's also about protecting your business assets and personal savings, through qualified plans and other techniques, from losses created by unexpected events that can significantly damage your finances—today and tomorrow.

Protecting Personal & Professional Assets While Building More Practice Value

In light of ever-increasing malpractice lawsuits, escalating claims and subsequent plaintiff awards, doctors who don’t proactively seek to protect their practice and personal assets from judgment creditors run the risk of parting with the fruits of a lifetime of hard work. Consider this: median medical liability claims increased 114% from 1996 to 2002, and the average award reached $3.9 million in 2001, climbing to $6.2 million in 2002. *

Finding Protection in the Litigation Age

The threat of frivolous malpractice lawsuits and escalating liability jury awards is one of the greatest challenges for doctors. According to a report by the Insurance Information Institute, the median of medical liability jury awards was $1 million in 2001, up 43% from 1999, and a single award for $131,700,000 was the largest in six years.

Regardless of the extent of your education and dedication, the very nature of your profession puts you at ongoing risk of becoming a defendant in a lawsuit, a daunting and stressful situation for anyone. A lawsuit can cause significant damage to your personal and professional reputation, deplete hard-earned savings, consume income and place your financial future in jeopardy.

Greenbook client doctors seeking to reduce the threat of frivolous legal claims can employ proactive malpractice protection designed by doctors for doctors. Plans include day-forward coverage, as well as coverage for pending lawsuits and past events dating as far back as your residency.

By addressing your financial life in its totality, and shielding your practice with a healthy dose of asset protection, your Greenbook Advisor can help you minimize exposure and mitigate losses.

* Medical Liability Reform-NOW, American Medical Association, June 14, 2004.
www.ama-assn.org/go/mlrnow/