Asset protection can be a big deal for practice owners and established doctors, and we’ve talked about it here before. Most recently, my CEDR co-founder Douglass Lodmell, a leading asset protection attorney, has explored whether President Obama ought to consider asset protection. The factors involved are the same ones you or I would think about. Here’s Doug’s article:
Does Obama Need Asset Protection?
With the House of Representatives officially passing a bill which would endorse a lawsuit brought against the President of the United States (President Obama), I thought it would be an interesting thought experiment to ask if the President should consider Asset Protection.
Asset Level
When doing an analysis for a client, the first area we look at are assets. Does the client have sufficient assets to justify protecting them. In the case of Obama, the answer is surely yes. As has become apparent via the example of past presidents such as George Bush and Bill Clinton, being President of the United States is a pretty profitable job. After serving your time, an ex-president can command hundreds of thousands of dollars for a single speaking gig. Combine this will the best possible contacts and business opportunities in the world, and you can rest assured that the President has something to lose…
Risk
The next area we look at is risk…