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 Medical malpractice is a serious concern for doctors practicing in the United States, as it poses a significant risk for litigation and personal financial loss. To protect themselves, many doctors choose to purchase medical malpractice insurance. But what exactly does this insurance cover?

In general, a liability insurance contract is an agreement between the insurer and the insured where each promises to fulfill certain obligations. The insured promises to make premium payments, and the insurer promises to provide coverage in the event of an insurable event. The coverage is typically divided into two parts: the duty to defend and the duty to indemnify. The duty to defend relates to the insurer’s obligation to hire and pay for a defense attorney. The duty to indemnify relates to money paid by the insurance company on the insured’s behalf to compensate claimants or plaintiffs for an alleged loss, whether or not the insured doctor or insurance company admits fault.

However, it's important to note that policies vary between insurers, fields, and states, and each policy has a limit. This means that if a jury returns a verdict in excess of the insurance limit, the doctor is personally liable for the difference. This can be a terrifying prospect, especially when you consider the potential for large malpractice verdicts.

Additionally, doctors must also consider the National Practitioner’s Data Bank (NPDB) which can have a negative impact on their reputation and insurance premiums. Many doctors are willing to use their own money to settle a case in order to keep their name off the NPDB’s list, but this goes against principles of asset protection planning and undermines the entire purpose of having insurance. However, there are other exceptions to the reporting requirement that are less well-known, including certain types of pre-suit mediation settlements and becoming part of a clinical practice group which can help keep the doctor's name clean and avoid litigation altogether. See how Fortress Management can stert your Medical or Dental License protection today.

 Advanced tax strategy is a method of legally reducing one's tax liability by utilizing tax laws and regulations to the fullest. This can involve the use of tax credits, deductions, and other tax-saving strategies to minimize the overall amount of taxes owed. Advanced tax strategy is often used by businesses, high net worth individuals, and investors to minimize their tax liability and maximize their wealth.

One of the key elements of advanced tax strategy is the use of tax credits. Tax credits are a dollar-for-dollar reduction of the taxes owed. For example, a $1,000 tax credit reduces the amount of taxes owed by $1,000. Some examples of tax credits include the Research and Development Tax Credit, the Foreign Tax Credit, and the Low-Income Housing Tax Credit. These credits can be used to reduce the overall amount of taxes owed, and can be a powerful tool in an advanced tax strategy.

Another important aspect of advanced tax strategy is the use of tax deductions. Tax deductions lower the amount of income that is subject to taxes. This is different from tax credits which are a dollar-for-dollar reduction of the taxes owed. Tax deductions can include expenses such as business expenses, mortgage interest, and charitable contributions. By utilizing these deductions, businesses and individuals can lower the amount of income that is subject to taxes, thus reducing their overall tax liability.

Finally, advanced tax strategy also includes tax-efficient investment strategies. This can include the use of Open Platform Monetization and Leveraging the Banks money to grow Tax-Free. By utilizing these strategies, individuals and businesses can minimize the taxes owed on their investments, and maximize their returns. It's important to work with a tax professional or like Fortress Management and its Partner The Fortune Law Firm to understand and implement these strategies. Overall, advanced tax strategy is a method of legally reducing one's tax liability by utilizing tax laws and regulations to the fullest and can be a powerful tool for individuals, businesses and investors to minimize their tax liability and maximize their wealth. Book an appointment today and see how much you can lower your tax Liability by meeting with one of our Tax Strategists, 

Starting a business is a risky endeavor. You put your assets, sweat, and heart on the line in hopes of providing a product or service that will benefit society and help secure your financial future.

But where there is money being made, there are always liability risks. And good business practices are not always enough to eliminate this risk. Where these practices fall short, asset protection planning can provide the fill in the gaps and provide substantial (if not complete) protection. What's a product or service you'd like to show.

Asset protection is the process of legally shielding assets from creditors and lawsuits. It is a strategy that is used to protect assets such as real estate, investments, and business interests from creditors, lawsuits, and other legal proceedings. The need for asset protection arises from the fact that assets are not always safe from creditors, lawsuits, and other legal proceedings. This is especially true in today's litigious society, where lawsuits are becoming more common, and creditors are becoming more aggressive in their collection efforts.

One of the main reasons for the need for asset protection is to protect against creditors. Creditors can be anyone from banks and credit card companies to individuals and businesses. They can take legal action to collect money that is owed to them. By protecting assets, individuals and businesses can ensure that their assets are not at risk in the event of a lawsuit or creditor claim. This can provide peace of mind and security for individuals and businesses.

Another reason for the need for asset protection is to protect against lawsuits. Lawsuits can come from many sources, such as customers, employees, competitors, and even government agencies. They can be costly and time-consuming, and they can also put assets at risk. By protecting assets, individuals and businesses can ensure that their assets are not at risk in the event of a lawsuit. This can provide peace of mind and security for individuals and businesses.

Finally, the need for asset protection arises from the need to protect assets for future generations. By protecting assets, individuals and businesses can ensure that their assets are passed on to future generations in a manner that is free from creditors, lawsuits, and other legal proceedings. This can provide peace of mind and security for individuals and businesses, knowing that their assets will be passed on to future generations in a manner that is free from creditors, lawsuits, and other legal proceedings.