THE SAFE MONEY — LONG TERM CARE INSURANCE — Can You Afford NOT having it?

Ten Vital Points to consider about your LONG TERM CARE INSURANCE

As an Asset Protection attorney ANY avoidable source of loss, risk or exposure to my clients is unacceptable. One often overlooked area is the possibility that you or a loved one may need long term care as a result of age, illness or accidents. In cases where such care is required, the financial effects can be devastating even to the most affluent clients and are a needless expense that can be avoided.

For help in this area I turned to an expert, Dr. Jonathan Smith, M.D. a medical specialist who knows what this care costs and who now provides education and coverage to clients and advisors all over the U.S. on this easily addressed but potentially serious exposure. He shares important thoughts on this issue with us below. The insurance part is good enough, but some options are also both creditor protected AND have a return of premium guarantee if you never need it. Interestingly, even DOCTORS (who know better) often neglect this area of their own planning.

THE SAFE MONEY — DISPUTES AMONG PARTNERS CAN BE FATAL TO THE PRACTICE

As you likely know, I have always felt that basic rules of self defense apply almost perfectly to good legal and financial planning.

The best way to avoid losing a lawsuit, for instance, is to never be in one in the first place.

The simple article below addresses conflicts between partners and ways to avoid or handle them. We have seen this issue create devastating results to the detriment of all parties involved.

Your partners are smart, financially able to cause you harm, and likely know more about you and your assets than your own spouse. This is all bad news. Cooperation, communication and proactive conflict resolution is key. Please take a few minutes to review this and pass it on to your friends in the business.

Physicians’ Practice — How to Talk to Your Partners

Avoiding conflicts can lead to unprofessional conduct. Here’s how to effectively diffuse disagreements and preempt disputes.

Read full article

Yours, Ike

THE SAFE MONEY — THE DANGER WITHIN

EMPLOYEE LAWSUIT EXPOSURE IN A DOWN MARKET ECONOMY

Are you properly protected from employee liability? For those of you who are business owners and have employees or have clients who do, this is very important, especially if you may have to consider lay-offs or downsize as a result of the current business climate.

American business owners are 5 times more likely to be sued by employee than for any other reason, and employees win 75% of the time.

Remember that the people affected by these kinds of economic necessities take it personally, not just as a business decision, and will often turn a necessity based lay-off into a discrimination claim (or something worse) with the help of an employment attorney. Be sure you carefully document any staff reduction, whether based on economic necessity or performance; how would you react if you were fired or laid off amidst fears of a recession? Most people panic and grasp at straws.

THE SAFE MONEY — AFFINITY FRAUD

New FRAUD Schemes Prey on Personal, Religious and Cultural Connections to Build Investor Confidence

Something quick, down and dirty I want all our clients and partners to be aware of, as you folks are the ideal candidates for the bad guys – you are among the most successful people in the U.S.

http://www.fa-mag.com/fa-news/4036-sec-advisor-scheme-targets-chinese-americans.html

As markets continue to fluctuate and rattle investor confidence a new series of alternative investment  fraud schemes are emerging and being exposed faster than I can email you all the details.

The Safe Money — Internet & ID Theft Scams Spiraling out of Control — ASSET PROTECTION UPDATE

The links below contains some good information about how ID thieves and criminal gangs are capitalizing on current economic conditions and confusion among consumers.

As you know, we have always advised our friends and clients to guard the assets of their identity and credit as carefully as their more tangible assets. These assets are more valuable than ever before, please take a moment to review these points.

The Safe Money — Survival Plan for 2009 (Asset Protection)

As 2008 draws to a close we look back at the lessons learned and forward to new opportunities. Below are some critical points we have seen illustrated many times by those we work with, some of the most successful and intelligent people in their various professions and businesses. Despite the phenomenal track record many of them have in terms of making money safely, predictably and responsibly for many years, no one was left untouched by the recent crisis. Here are some of the 2008 “lessons” we feel it is most important to reflect on and examine for yourself as we start 2009.

Orthopaedic Practice Management — Innovative financial strategy protects accounts receivable from legal judgments

Orthopaedic Practice Management published an article in their November 2008 issue featuring Partner Benjamin Renzo and ARLIS™ titled “Innovative financial strategy protects accounts receivable from legal judgments”.

“No matter how tough economic conditions may seem inside a medical practice, orthopaedic surgeons expect their medical liability carriers to pay claims in the event of a legal judgement.  But with the financial industry battered by losses, that’s no longer a given…”

Read full article

Benjamin Renzo — Physicians, Cover Thy Assets

Outpatient Surgery Magazine published an article in their October 2008 issue written by Partner Benjamin Renzo titled “Physicians, Cover Thy Assets”.

“Each year malpractice insurance becomes more expensive and less effective at protecting physicians’ assets, their practices and the surgery centers where they operate. While most physicians carry malpractice liability insurance that covers $1 million per incident and $3 million for multiple claims in the same year…”

Read full article