The Doctor's Wealth Preservation Guide

by Roccy DeFrancesco and Roccy M. DeFrancesco Sr JD

Book Overview

This book is the authoritative guide to help physicians protect their assets from all creditors. All creditors means from negligence suits, but also from the IRS (income, capital gains and estate... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1589300882
• ISBN13: 9781589300880
• Release Date: January 2008
• Publisher: TriArc Advisors, LLC
• Length: 331 Pages
• Weight: 2.26 lbs.

Customer Reviews

Doctors Wealth Preservation Guide review

A lot of information in one easy reference. A great read for both advisers and their clients!

Good for provoking thoughts, not a step-by-step guide

This self-published book gives the reader a good perspective on asset protection and estate planning, especially as applicable to physicians (including residents). The author runs an organization called the Wealth Preservation Institute which publishes this book. BTW, two of the certificate designations in his title are from his own organization. Hmm... The book covers five topics: asset protection, estate planning, tax reduction, personal finance, and office management. I think the first two are the forte of the book, whereas tax and finance coverage is rather superficial. The office management chapter is not bad, but a bit too short. This book is not a step-by-step guide. This is not the author's fault, because all these topics involve complex legal issues, a situation exacerbated by the fact that each state has its own sets of rules governing asset protection, creditor exemptions, insurance policies, estate, etc. Adding in the Federal government, there are 52 (incl. DC) sets of rules, not counting the Virgin Islands and other U.S. territories. So it's not possible for a book to list all these requirements, let alone giving you detailed instructions. What this book serves, then, especially in the areas of asset protection and estate planning, is to give you some ideas, as well as warnings. Ideas on what you can do to protect yourself and your assets. You can take these ideas to your attorney and accountant and work together to hash out your own plans. The book also warns you from questionable practices as well as common pitfalls. One good thing about the book is the author doesn't self-promote. He does ask you to contact him in a few places, but mostly just to give you some information. I did contact him and got a poorly written reply which nonetheless gave me the information I was looking for. I understand he's a busy guy, so I can forgive him for the poor grammar in his e-mail. Unfortunately, even though the book has rich contents relevant to a physician's wealth preservation concerns, because it's self-published, it's poorly written and underwent no editing whatsoever. The author is not cocky IMHO, unlike what one previous reviewer claims, but he's oft-repeated reference to the male doctor with a traded-up wife is quite annoying. But it's really the poor writing that mar the ultimate usefulness of this content-rich book. Bottomline: I learned a lot from this book. Now I know what to say when I meet with an estate planning or tax lawyer. I also know what potentially legally troublesome issues to look out for. No, this book doesn't cover everything, but it's a good starter. You should also check out "Asset Protection" by Adkisson and Riser.

Very Cocky Author

I believe if the Author was not so in love with himself, this would have been a much more enjoyable book. The information is good, however his cocky attitude makes the book that much less enjoyable. Basically he tells you if you do not do what he says and if you are already not doing what he says, you are incredibly ignorant. He basically takes credit for all of the ideas in the book. The applications are good however.

"Know It All!"

Excellent book, Roccy knows his stuff! If you are a physician or advise physicians, this book is a neccessity.