Solutions for Buyers

Buying a medical practice can be the most stressful transaction that a physician ever undertakes. The dollars and obligations are big and the pitfalls are many.

It’s important to find the right advisory team and consult before discussing price or other terms. Too often, an attorney or advisor is consulted after the basic deal terms have been discussed or agreed to, making it impossible for the advisor to help on anything major. More dollars can be squandered in a split second negotiation over price than can ever be recovered when negotiating the fine print of the legal documentation.

ProMed and its Affiliates will address all your questions and concerns and walk along side you as you embark on your journey. All aspects of a purchase are analyzed for the best possible outcome.

Corporate Structure

Having a properly formed entity to serve as the foundation of your wealth building enterprise is essential. Without it, you will pay more taxes and expose your hard-earned assets to the courts, the IRS, and realistically anyone who is determined to serve you with a frivolous lawsuit.

So, what stops most professionals from establishing the most tax-efficient, lawsuit-preventative, financially tested, safe and secure way to protect assets? Confusion…should I form a corporation or an LLC? Is an S-Corp better? How many entities should I form? ProMed Solutions has discovered the true advantages and disadvantages of each form of business ownership. Click here to review the comparison of each entity.

Insurance

ProMed Solutions and its affiliates represent over 40 of America’s leading life, disability and casualty companies. Our volume gives us an advantage which allows us to provide the highest possible coverage for the least amount of premium.
The most frequently asked questions from our buyers are:

Questions 1: Will my lender require life, disability, property & general liability insurance to fund my loan?
Answer: In most cases buyers will be required to purchase or assign their life, disability, property and general liability insurance to the institution providing the loan.

Question 2: If I were to predecease my family, how much income would they need if I was not there to provide it for them?
Answer: ProMed Solutions can run a capital needs analysis report which clearly illustrates emergency capital needs, future income needs the survivors will face and breaks down any capital shortages such as mortgage elimination and education.

Question 3: If I became disabled how would I generate income to provide for my family?
Answer: ProMed Solutions can run a disability capital needs analysis report which clearly illustrates elimination period, benefit period, maximum coverage, and cost of living and residual disability. Note: each individual policy should be reviewed to determine that the definition of disability fits your occupation.

Question 4: Should my practice burn down, how much coverage do I need to replace my assets?
Answer: ProMed Solutions and its affiliates help guide you to determine your tangible assets so you can get the coverage you need.

Questions 5: How can my insurance provide tax-free retirement?
Answer: Cash value policies have a very effective nature whereby the cash value never goes backwards due to negative market returns. This policy is specifically designed to have a minimum death benefit and very low expense. If you are in a high tax bracket this policy is an even better tool because it distributes tax-free retirement income. If your tax bracket is 40% during your retirement years, dollar for dollar your buying power has increased due to the fact that you are not paying tax when you withdraw these funds. If we have an inflationary period and the value of the dollar is reduced our dollar for dollar buying power is increased. Click here to see how this type of policy can benefit you.

Asset Protection

Do you realize that every year thousands of families are suddenly wiped out? One lawsuit can cost you everything you own – your home, cars, business and personal assets, retirement savings, investments – everything! Now more than ever, the bitter facts of life require people who have struggled to create financial security to take extraordinary measures to protect their hard-earned wealth from predators of all sorts. We live in the most litigious society in history. You don’t want to be like the vast majority of business and real property owners with your assets fully exposed to anyone bringing a suit against you. Click here to learn more about how to safeguard your assets.

Retirement Planning

We look at strategies that protect the principle and provide guaranteed returns.
Our clients invest in non-traditional investments that are not correlated to the stock market, affected by economic downturns and are not based on future profitability of any one group of company.
We have money managers who employ strategies in both a bull and a bear market.
ProMed Solutions will help you learn about all the alternatives so that you can choose the right strategy that will allow you to create and keep personal wealth and retire with financial freedom.