Very often dental professionals own the building or office space that they practice out of. In this case, it is paramount that the dentist separates the real estate from the professional corporation. Thus, experienced lawyers will utilize a common limited liability company to hold title to the real estate, thereby protecting the asset from claims against the professional corporation. This same concept usually holds true for additional real estate investments, and, in some instances, other business ventures too. The rule of thumb is to segregate valuable assets whenever possible.
It is not uncommon for a dentist to own his building, and also lease to adjoining tenants, or even divide a building into condominiums for sale. Lake Norman Law Firm is experienced in advising dental professionals in this respect – we are quickly able to advise an ownership framework that protects the dental professional, and provides optimum economic efficiency. Our clients are often surprised at the long term value and savings associated with taking such legal actions – actions that they may not have otherwise known about. That’s why employing a lawyer experienced in the sort of transactions that dentists are involved with is so very important!