Not sure whether this type of finance related post is against the rules.
What do you all do for financial asset protection ?
PS. I already have malpractice tail and nose that covers 1M. And 300k or so of auto liability insurance. But assets are much above those numbers. My field (Hem-Onc) doesn't face that many number of lawsuits; but yes they happen once in a while. And even when there are payouts, the monetary settlements are not that high.
What do you all do for financial asset protection ?
- Do you set up some trust or other legal structures etc that is bulletproof from lawsuits ?
- What kind of trust (or legal structure) is it ; and how did you set it up ? - Do you have umbrella insurance as part of asset protection ? If yes
- What is the coverage limit ? I mean is it 0.5x or 1x or 2x of your total assets ?
- Who is the provider company that provides the coverage?
PS. I already have malpractice tail and nose that covers 1M. And 300k or so of auto liability insurance. But assets are much above those numbers. My field (Hem-Onc) doesn't face that many number of lawsuits; but yes they happen once in a while. And even when there are payouts, the monetary settlements are not that high.
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