Client Profile
- Name: Dr. Samantha Q.
- Age: 44
- Occupation: Board-Certified Plastic Surgeon with a Private Practice
- Net Worth: $8 million
- Family Status: Divorced, with two school-aged children
Situation & Challenges
Dr. Samantha Quinn owns and operates a successful plastic surgery practice. While she carries standard malpractice insurance, she’s aware that high-ticket settlements and unexpected liabilities can exceed coverage limits. Additionally, she has diversified her personal investments into real estate and market portfolios, creating a more complex financial picture. Her key concerns were:
- Exposure to Malpractice Lawsuits
- Even with malpractice insurance, large awards or settlements could threaten her personal savings and other assets.
- Unstructured Personal Investments
- Multiple properties and securities were held in her name directly, increasing vulnerability to legal judgments or creditor claims.
- Estate Planning Complications
- As a divorced parent, Dr. Quinn wanted a clear plan for her children’s inheritance and educational expenses if anything happened to her or her practice.
- Busy Schedule & Limited Bandwidth
- Demanding surgical hours and patient responsibilities left little time for complex asset protection research or ongoing legal maintenance.
Realizing these risks, Dr. Quinn sought a specialized, discreet approach to protect her personal wealth without disrupting her day-to-day professional focus.
Strategy & Tools Implemented
- Professional Corporation (PC) & Captive Insurance
- Assisted Dr. Quinn in reaffirming her medical practice structure as a Professional Corporation (PC), further separating the practice’s liabilities from her personal finances.
- Established a captive insurance company to supplement traditional malpractice coverage and handle high-risk exposures, creating an extra layer of financial protection.
- Domestic Asset Protection Trust (DAPT)
- Recommended placing a portion of her personal assets—liquid funds and market investments—into a domestic asset protection trust located in a state with robust protective statutes.
- Ensured that these assets were legally shielded from judgments tied to potential malpractice claims.
- Real Estate Holding LLCs
- Consolidated her multiple properties (rental units and a vacation home) under separate LLCs, each owned by a master holding company.
- This structure isolated liabilities from each property and reduced the risk that a lawsuit regarding one property could jeopardize the others.
- Estate & Legacy Planning
- Collaborated with an estate planning attorney to create a revocable living trust for Dr. Quinn’s personal and family-oriented assets.
- Implemented a custodial account for her children’s educational expenses, ensuring direct funding access for tuition, books, and living costs if needed.
- Ongoing Compliance & Review
- Developed a maintenance plan that included annual check-ups on her LLCs, trust documents, and insurance policies.
- Arranged a reliable compliance calendar so Dr. Quinn’s team could handle straightforward filings and reminders, minimizing her time involvement.
Outcomes & Impact
- Significantly Reduced Personal Exposure
- By layering her malpractice insurance with a captive insurance company and using a PC structure, Dr. Quinn limited her personal liability in the event of a sizable lawsuit or settlement.
- Clear Segregation of Real Estate Assets
- Moving properties under multiple LLCs protected each one from cross-liability and shielded her entire portfolio from creditors or legal awards in a worst-case scenario.
- Enhanced Estate Planning
- The revocable living trust and custodial accounts provided financial security for her children. Dr. Quinn gained peace of mind knowing that her children’s educational and living expenses would be covered.
- Efficiency & Time Savings
- Automated compliance reminders and a well-organized legal structure freed Dr. Quinn from constant administrative burdens, allowing her to focus on patient care and expanding her practice.
- Long-Term Flexibility
- The plan can easily adapt if Dr. Quinn decides to add new investment properties, expand her practice, or remarry. Regular reviews ensure all structures remain current with changing laws and family goals.
Key Takeaways
- Layered Insurance & Entity Structures: Combining a Professional Corporation, malpractice coverage, and a captive insurer can provide stronger financial barriers than standard insurance alone.
- Protecting Personal Investments: Placing real estate and other assets into separate legal entities reduces the risk of one lawsuit impacting an entire portfolio.
- Customized Estate Planning: Incorporating trusts and custodial accounts helps high-earning professionals secure their families’ financial futures while maintaining control.
- Ongoing Maintenance is Critical: The best asset protection plan remains effective only if it’s reviewed and updated regularly to reflect new laws, business changes, or personal milestones.
Why This Matters for You
Whether you’re a medical professional, entrepreneur, or investor, comprehensive asset protection ensures your hard-earned wealth remains safe from unforeseen risks. Our boutique services tailor solutions to your specific profession, family situation, and long-term vision—so you can focus on what you do best with total peace of mind.
Interested in safeguarding your personal and professional future?
Contact us to explore how a customized asset protection plan can shield your wealth and secure your family’s legacy.
