Asset Protection, medical doctor, risk management

1. Physician’s Risk ManagementPhysician’s Risk Management
from Judgment Creditors:from Judgment Creditors:
Basic Domestic and ForeignBasic Domestic and Foreign
StrategiesStrategies
William H Byrnes, IVWilliam H Byrnes, IV
Professor of Law & AttorneyProfessor of Law & Attorney
Continuing Medical EducationContinuing Medical Education
CP MotionCP Motion
July 23 – August 1, 2004July 23 – August 1, 2004

2. Professor William H. Byrnes, IV, Esq (786) 271 5202
Classes of Risk?Classes of Risk?
• Personal / AccidentalPersonal / Accidental
• FamilyFamily
• FriendsFriends
• Business RelationshipsBusiness Relationships
• EmployeesEmployees
• CriminalCriminal
• FraudstersFraudsters
• Business RiskBusiness Risk
• Business LiabilityBusiness Liability
• Other (e.g. Acts of God)Other (e.g. Acts of God)

3. Professor William H. Byrnes, IV, Esq (786) 271 5202
Assessing RisksAssessing Risks
 General calculable percentagesGeneral calculable percentages
 Conditioning factors and behaviorConditioning factors and behavior
determine classes to which heighteneddetermine classes to which heightened
risk appliesrisk applies
 Cost benefit analysisCost benefit analysis

4. Professor William H. Byrnes, IV, Esq (786) 271 5202
Domestic (Fl) ExemptionsDomestic (Fl) Exemptions
 WagesWages
 Head of Family: allHead of Family: all
 Fed. Consumer Credit Protection Act: 75%Fed. Consumer Credit Protection Act: 75%
 HomesteadHomestead
 ½ acre including residence½ acre including residence

5. Professor William H. Byrnes, IV, Esq (786) 271 5202
Domestic (Fl) ExemptionsDomestic (Fl) Exemptions
 InsuranceInsurance
 LifeLife
 DisabilityDisability
 Qualified Retirement / Profit Sharing PlanQualified Retirement / Profit Sharing Plan
 PensionPension
 Profit sharingProfit sharing
 Stock bonusStock bonus
 IRAsIRAs
 ESOPsESOPs

6. Professor William H. Byrnes, IV, Esq (786) 271 5202
Creditor Attachment of PropertyCreditor Attachment of Property
 Joint TenancyJoint Tenancy
 Tenancies by the EntiretyTenancies by the Entirety
Read case in appendix 2Read case in appendix 2

7. Professor William H. Byrnes, IV, Esq (786) 271 5202
EntitiesEntities
 LLPLLP
 LLCLLC
 CorporationsCorporations
 TrustsTrusts
 Private & Public Charitable FoundationsPrivate & Public Charitable Foundations

8. Professor William H. Byrnes, IV, Esq (786) 271 5202
Domestic versus ForeignDomestic versus Foreign
 Trust Law ComparisonTrust Law Comparison
 Fraudulent Transfer Statutes &Fraudulent Transfer Statutes &
Jurisprudence comparisonJurisprudence comparison
 Associated Risks and CostsAssociated Risks and Costs
 Cost-Benefit AnalysisCost-Benefit Analysis

9. Professor William H. Byrnes, IV, Esq (786) 271 5202
Risk Management TechniquesRisk Management Techniques
for Discussionfor Discussion
 Asset and Income StrippingAsset and Income Stripping
 Receivables FactoringReceivables Factoring
 Life Insurance StrategiesLife Insurance Strategies
 Pension StrategiesPension Strategies
 Disability InsurancesDisability Insurances
 Captive Insurance CompaniesCaptive Insurance Companies

10. Professor William H. Byrnes, IV, Esq (786) 271 5202
Thank you and Enjoy the CruiseThank you and Enjoy the Cruise
FromFrom
Professor William H. Byrnes, IVProfessor William H. Byrnes, IV
& the CP Motion team& the CP Motion team