Practice Value Protection Plan

Secure bank vault door symbolizing Legacy Practice Transitions’ protection plan for dental practices

Legacy Practice Transitions’ Practice Value Protection Plan was developed as a natural extension of our Practice Transition business. Should a doctor expire or become disabled, Legacy Practice Transitions can immediately provide the necessary assistance required for the successful transition of your practice.

We will provide you with a comprehensive practice profile, which provides us with the pertinent information required to expeditiously transition your practice in an emergency. We recommend a document for your will (known as a Codicil), which allows us to immediately transition your practice in case of your death. This eliminates the tremendous loss in practice value that can occur when delays are caused by well-intentioned, but uninformed and inexperienced advisors.

The program consists of an initial thorough practice evaluation in which you will be provided with a written report of your practice value. This can immediately be used for financial and estate planning. In each subsequent year, you will be asked to provide the current year tax data and some basic practice related data in order for us to update your practice value. All evaluations beyond the initial year are completed at no additional expense to you.

Therefore, Legacy will have the necessary information to immediately step in and become involved in a practice transition in the untimely event of death or disability. This is an invaluable service which we provide for the convenience of our clients. Call Legacy Practice Transitions today to learn more details about this valuable service. It may help you and your loved ones sleep better knowing that you have taken these important steps in protecting one of your most valuable assets.