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checklist on things to do before leaving a practice?

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  • adventure
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    Be very nice to the office staff
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  • Hatton
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    If there is no noncompete and she is in the same general area then try to obtain patient names and addresses. Be very nice to the office staff because they can tell your former patients where you went.

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  • erictait
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    You may want to consider rolling the money to a self-directed IRA custodian. It will give you major flexibility in terms of being able to invest in a slew of different asset classes.

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  • jbmitt
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    Also, if she happens to work for an NPO and has a 457b, check the Summary Plan Description (SPD) for rollout rules and that she understands her choices – can have major tax implications.
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    Very good point on this.  I believe the deferred comp/457b plan can be rolled over to an IRA or paid out as taxable income.  I'd like to avoid adding any more taxable income.

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  • jfoxcpacfp
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    For health insurance we’ll get her cobra rates and decide if its better to do that or join my plan.
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    Don't forget that you get 60 days to sign up for COBRA, which means you can wait 2 months to see if you need it before buying it.

    Also, if she happens to work for an NPO and has a 457b, check the Summary Plan Description (SPD) for rollout rules and that she understands her choices - can have major tax implications.

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  • jbmitt
    replied
    Yes. We're getting her a DI policy through one of the recommended firms here.

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  • jhwkr542
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    I wouldn't mess with the group insurance policies as they're often inferior to individual policies. I'd get your own, but definitely talk to an agent (use one from WCI's recommended page).

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  • Hatton
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    You should kiss that old contract that her tail was covered.

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  • jbmitt
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    Tail is covered.

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  • VagabondMD
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    Anything else we’re forgetting?

    Yes, the big one, Malpractice coverage.

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  • checklist on things to do before leaving a practice?

    Long time lurker, first time poster.  I've followed WCI from over at bogleheads.org.

    DS is leaving her group as a hospital employed doc.  She hasn't finalized her next position, but we wanted to start tying up loose ends.

    We're set on most of the financial stuff, but need some help on life insurance and disability insurance.  We're sorting out of if she can roll over her group life, or if she is better off purchasing her on term policy.  Same applies to disability insurance.  We didn't listen to the advice of her obtaining her own policy in residency, so we're obtaining quotes for a personal policy as well.

    For health insurance we'll get her cobra rates and decide if its better to do that or join my plan.

    Anything else we're forgetting?
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