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WCI Guide to Asset Protection book review

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  • WCI Guide to Asset Protection book review

    This is an outstanding book! It is a balanced review of the both easy and complex ways in which physicians can protect their assets in front of any possible lawsuit. I agree with most of the author's recommendations and cautions as well. At a minimum, it would be an excellent use of most physician's time to read the first few chapters and then the specific state section that follows.

  • #2
    My copy is supposed to arrive on Wednesday. I’m looking forward to reading it.

    If you order the book directly from WCI, Amazon doesn’t get its cut but the shipping is a bit slower.

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    • #3
      I have mine. I am just starting to read it.

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      • #4
        I just ordered one, mostly to support the WCI mission but also looking forward to reading it. Thanks for the nudge.

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        • #5
          Agree that it's a great book. Quick read, concise, easy to digest. The case studies at the end tie it up nicely and make it applicable to each of our unique situations.

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          • #6
            This is a pleasant read, like Jim's other books, but ugh how could it be possible that in my state someone could essentially take all but $6,000 worth of my house? And if divorce is more likely than a lawsuit coming after my personal assets how do I weigh the protection of joint bank accounts and titling as tenant by the entirety vs risk of divorce? It really seems like the biggest fail safe is not participating in a risky profession which we are are in to some degree. Working as a poo scooper at the doggie day care is sounding better all the time.

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            • #7
              Originally posted by Hank View Post
              If you order the book directly from WCI, Amazon doesn’t get its cut but the shipping is a bit slower.
              Hard to beat Amazon at distribution.
              Helping those who wear the white coat get a fair shake on Wall Street since 2011

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              • #8
                Originally posted by StateOfMyHead View Post
                This is a pleasant read, like Jim's other books, but ugh how could it be possible that in my state someone could essentially take all but $6,000 worth of my house? And if divorce is more likely than a lawsuit coming after my personal assets how do I weigh the protection of joint bank accounts and titling as tenant by the entirety vs risk of divorce? It really seems like the biggest fail safe is not participating in a risky profession which we are are in to some degree. Working as a poo scooper at the doggie day care is sounding better all the time.
                which state? thats crazy? how about retirement accounts?

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                • #9
                  Originally posted by Turf Doc View Post

                  which state? thats crazy? how about retirement accounts?
                  Maryland. Retirement covered. And I get a whopping $1,000 for household goods and pets. Good thing the rescue mutt isn't worth anything so I can keep a couple of chairs.

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                  • #10
                    Originally posted by StateOfMyHead View Post
                    This is a pleasant read, like Jim's other books, but ugh how could it be possible that in my state someone could essentially take all but $6,000 worth of my house? And if divorce is more likely than a lawsuit coming after my personal assets how do I weigh the protection of joint bank accounts and titling as tenant by the entirety vs risk of divorce? It really seems like the biggest fail safe is not participating in a risky profession which we are are in to some degree. Working as a poo scooper at the doggie day care is sounding better all the time.
                    Divorce is going to cost you half pretty much any way you look at it. So the answer there is invest in the relationship. I mean, who wants to live in a relationship and worry about splitting assets? So, if I had too choose steps for asset protection I’d implement the ones to protect against a lawsuit. For example, in Maryland I would absolutely title my house with my wife as tenants by the entirety to protect it from seizure in court.

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