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Are You Certain that Your Assets Are Protected?
Posted on: 10/10/2019
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Illinois physicians are practicing in a state with no cap on damages for pain and suffering and have concerns about protecting their assets from mega-judgments that exceed their insurance coverage.

But there are also many other opportunities for physicians and their families to be exposed to large verdicts – beyond medical lawsuits. For example, a physician may own property on which lies “an attractive nuisance,” such as a swimming pool or jungle gym. And physicians are often viewed as having “deep pockets” by a jury due to their profession.

ISMS offers a medical legal guideline, Asset Protection,* covering how to develop a structured wealth preservation plan. Components of the plan could include estate planning; general asset protection; family asset protection; onshore and offshore trusts, appropriate ownership of assets; premarital agreements, if applicable; and statutory exemptions of property from attachment by creditors. As always, we encourage you to review the document and work with your financial professionals to develop a tailored plan.

Click here to download this pdf

Access the resource today!

Questions? ISMS members may contact the ISMS Legal Division with questions at 800-782-4767 ext. 6485 or send an email

This ISMS medical legal guideline is a member benefit and is password protected.

If you need to request a username and password, contact online support at 888-476-7776 or onlinehelp@isms.org between 8:30 a.m. and 4:45 p.m. After-hours requests are answered promptly the next business day. You may also register online or retrieve your username or password.

*This guideline is for educational purposes only. 

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