Ep 30. Ike Devji part 1-- Basics of estate planning

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona. Our guest on this episode is Ike Devji, JD an attorney in Phoenix, AZ. Ike is our first returning guest. He previously discussed asset protection on episode 3 which remains one our more popular episodes. Today we will be talking about estate planning on part 1 and an update to asset protection on part 2. Both episodes will be released together, but you will need to download them separately. I apologize for some of the scratching sound you will hear during the conversation, but I didn’t want to stop recording because the content was important. In part 1 we talk about the basics of estate planning. We define the basic terms such as wills, probate, trusts, etc. Ike talks about whether you need an attorney to set this up or whether you can do it yourself. In part 2 we update asset protection including how practices can deal with gun violence and how practices can protect themselves. We also address the situation that Physician on Fire got into when he served on a hospital board as many physicians do and ended up being sued (with risk to his personal assets) when the hospital went bankrupt and board members were sued. We also talk about purchasing property into a trust. (Investment vs personal property). Finally we talk about the liabilities physicians face when we post on social media. You can find out more about Ike and his company at www.proassetprotection.com Please let your colleagues know about this podcast and add them to our private facebook group and join our email list. More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. You can follow me on twitter @drmoneymatters Please consider joining the Doctor Money Matters Facebook group. Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.