Medical malpractice risks and issues are becoming more and more frequent. The costs of malpractice coverage and the risks involved have caused many physicians to stop practicing. There are steps you can take to protect your assets.
Tenants by the Entirety- Means that the husband and wife own it jointly, so claims against one spouse cannot touch the house Qualified Personal Resident Trusts (QPRT). Creating a QPRT means that a trust owns your house, but you can live there for the term of the trust. (Could be up to 20 years!). Afterwards, the house goes to your children.
The above is a summary of a radio show on MMFN Money Matters Financial Network, on June 30, 2008 with host Gary Goldberg, of Gary Goldberg Planning Services, Inc. in Montebello, New York, and his guest Martin M. Shenkman, Esq. an estate planner in Paramus, New Jersey. Listen to the audio clip of this segment on www.laweasy.com.
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