Liability Concerns and Asset Protection Planning

Yes. For professionals that carry the possibility of malpractice claims, such as doctors, dentists, lawyers, and accountants, malpractice is a personal liability—meaning that neither operating through a business entity such as a corporation nor a limited liability company will not protect you from the claim.  This means that if you are sued for malpractice and either you don’t have malpractice insurance or it doesn’t include enough coverage to fully cover the claim, your personal assets will be at risk to the malpractice claim.

Jackie Bedard
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Attorney, Author, and Founder of Carolina Family Estate Planning