When starting a business, especially in the healthcare industry, there are so many factors to consider. Can you offer a differentiated and beneficial service to your potential clients? Will you work with other physicians in a group or hire paraprofessionals? What are the demographics of the area you’ll be working in, and what are the types of insurance you’ll need to accept?
The logistics of establishing your practice will likely consume you and your attention for many months, and even years. But what are you doing to protect yourself and your hard-earned assets? Malpractice insurance is a start, but there is so much more you can be doing to save yourself money and ensure that everything you’ve worked so hard for, isn’t taken away in a frivolous lawsuit.
Legally Mine has worked with thousands of medical professionals for more than a decade to protect their assets; impart tax strategies that can save a life-changing amount of money; avoid malpractice lawsuits; and establish a Living Trust. As both educators and fulfillment specialists of their concepts, the team at Legally Mine works diligently to serve and protect their more than 15,000 members.
Who is Legally Mine?
The first asset protection firm in the US was founded by Jay Mitton; which served as the foundation for Legally Mine. In 2007, Dan McNeff purchased Legally Mine from Jay and worked to develop a new business model which enabled Legally Mine to carry the majority of the workload for their members, rather than solely educating them and leaving them to implement these complex concepts on their own.
Now, Legally Mine is an asset protection company headquartered in Orem, Utah. Their team has been serving over 15,000 members since 2007 when they were purchased by Dan McNeff. As one of the leaders in their industry, the team of attorneys and paralegals specializing in asset protection, tax savings, medical license defense, and estate planning at Legally Mine set out to help physicians around the United States keep what they’ve spent years earning for themselves and their families. In addition to educating doctors on how to prevent lawsuits, Legally Mine executes on all concepts so that members are properly protected at an affordable price.
Legally Mine is organized into client coordination, entity creation, legal, executive director, and Speakers and Away Sales Team (AST) in order to best serve their members. Each department plays a specific role in the process of communicating with members, creating a personalized plan, and executing that plan.
What is Asset Protection?
Asset protection uses legal techniques to protect the assets of individuals and businesses from civil lawsuit judgments. Proper asset protection planning insulates assets without breaking any laws.
Legally Mine works with medical professionals throughout the United States to structure their business and personal assets in a way that eliminates the motivation for someone to file a frivolous lawsuit against them. While a large part of what Legally Mine does is educating business owners and doctors, they also provide all of the fulfillment for their members, making the entire process seamless. Their staff of attorneys and paralegals specialize in asset protection and can design personalized asset protection plans and proper entity structures on behalf of their members.
How does Legally Mine: Asset Protection Work for Medical Professionals?
Effective asset protection will typically involve the use of entities in multiple states and also require very specific language in those entities that will remove assets as targets in a lawsuit. Most of the states in the U.S. have passed laws that give a very wide berth in controlling assets, using tools like Limited Liability Companies or LLCs. If an attorney is lacking the necessary knowledge and expertise about specific state laws surrounding these tools, it will be very difficult for this attorney to effectively protect assets. Knowing your own state laws is not enough; a lawyer must know the laws in every state in order to properly protect their clients.
The team at Legally Mine has been working with medical professionals for over 40 years, focusing very specifically on asset protection in a way that the standard attorney practicing trial, family, or business law cannot. They also teach continuing education classes for medical, dental, optometric, legal, and other business associations, which has created a large following. This volume allows them to charge less than a typical asset protection attorney while providing a high level of experience in this area.
When it comes to asset protection, Legally Mine offers highly specialized knowledge at an unbeatable price. Medical professionals seeking to protect their valuable assets can learn more at legallymine.com.