North Carolina Professional Practice Planning Attorneys
Serving Dentists, Doctors, Veterinarians, and Other Professionals
A professional’s work can be richly rewarding, but professionals also face challenges and risks. Putting a plan in place for your practice, especially as a dentist, doctor, or veterinarian, is vital. The North Carolina Professional Practice Planning Attorneys at NC Planning can provide the legal guidance that you need.
What kind of planning will a solo practitioner need? What are a professional’s planning options? What are the mistakes that must be avoided? The right attorney can answer these questions, explain your options, and help you avoid planning mistakes that could hurt you in the future.
A professional practice plan is a roadmap for the future that puts your practice on a firm foundation. A planning attorney at NC Planning will seek to understand your practice, assess your circumstances, recommend the best planning options, and help you to implement your plan.
How Can a Professional Practice Planning Attorney Help?
A private professional practice requires special attention. We build long-term relationships with our professional clients, and we use a comprehensive, proactive planning approach to help our clients maintain their professional success and achieve their long-term goals.
The NC Planning team develops a strategic plan for each stage of a professional’s career – from the launch of a private practice to retirement. It is our job to solve problems, prevent new problems before they happen, and ensure that you and your practice are financially and legally protected at all times.
If you’re not ready to launch your own practice or to buy into an existing practice, we’ll review your employment contracts and address other legal concerns that may arise in the earliest stages of your career. We can help you ensure that the decisions you make today won’t hurt you in the future.
What Does a Professional Practice Plan Include?
Having the right legal advisor from the very beginning of your professional practice is one of the keys to success. The NC Planning team can advise you regarding:
- Business Formation: we handle all aspects of business formation including drafting operating agreements, reviewing and negotiating contracts, filing incorporation documents, and ensuring compliance with all state and federal legal requirements.
- Tax Planning: as an interdisciplinary firm, we offer tax planning services to minimize your practice’s tax burden through strategic approaches. By leveraging tax incentive programs, identifying all possible deductions, and timing asset purchase accordingly, we utilize tax benefits to decrease your personal income tax burden.
- Acquisitions: the sale or acquisition of a practice is a complex transaction. Our North Carolina professional practice attorneys help to avoid common missteps to minimize your practice’s risk and plan for the transfer of assets.
- Succession Planning and Exit Strategies: through our succession planning services, we pinpoint critical positions in your practice, develop a strategy for filling these roles in the event of an unexpected exit, and planning for a transition without interruption to your business.
Let the right attorney help you with every aspect of preparing, implementing, and improving the planning for your practice. While you’re reminding your patients that they need regular check-ups, don’t forget regular planning check-ups to maintain the health of your practice.
What Are the Keys to an Effective Professional Practice Plan?
An attorney at NC Planning can help you create a flexible plan that’s easy to revise over time as your practice grows and your circumstances change. We also advise multi-practice ownership clients regarding efficiency and business structure along with their other planning needs.
Preparing an exit strategy is an essential part of your plan. Your exit strategy may be a merger, sale, or succession. We can guide you through the planning process while helping you save time and money. Let NC Planning handle the planning and legal concerns so that you can focus on what’s important – your patients and clients.
How Does A Professional Practice Plan Address Potential Risks and Liabilities?
Common Risks for Professional Practices
Business owners assume an undeniable level of risk when establishing their professional practice. For instance, as a practitioner offering a service, you are vulnerable to malpractice claims. While there are insurance policies to cover these issues, some incidents can spiral out of control and cost your business in time, money, and reputation. This risk of negligence also increases if you own or lease a commercial space. Accidents happen and, while they may seem like mere accidents to you, others may attempt to hold you liable for injuries that occur on your premises.
Furthermore, professionals across industries assume a level of risk based on their daily operations and management. The equipment you purchase for your practice can fail, forcing you to make unexpected investments into repair or the purchase of new machinery. Similarly, if you maintain an online record-keeping system, you risk data and security breaches that can impact client confidentiality. While these risks can be mitigated, it is wholly necessary to plan for these issues well in advance and implement solutions to avoid liability issues.
We help you avoid the mistakes that are most often made when a professional practice plan is developed. Optimism is good, but your plan must be based on the facts, and it must address your potential risks and liabilities.
As your legal counsel and planner, the NC Planning team will see to it that your professional practice plan leaves nothing out, addresses your specific needs and concerns, and provides a realistic basis for the growth of your practice over time.
Finding solutions is what we do best. Let NC Planning advise you and put a plan in place that meets your practice’s needs. Make it a priority to arrange a consultation with a professional practice planning attorney at NC Planning.
How to Select the Best Planning Attorneys for Your North Carolina Professional Practice
Selecting the best planning attorney for your professional practice is an important, yet difficult decision. The legal counsel you choose will impact your daily operations, the level of risk your practice assumes, and the overall success of your business. Before hiring a North Carolina professional practice attorney, it can be helpful to consider the following:
- What are your short and long-term goals for your practice and how can an attorney help you reach these goals?
- What is your budget for legal services?
- Does the attorney have experience working with professionals in your industry?
- How will the lawyer communicate with you regarding your business?
- Who will be working on matters related to your business?
How Can You Learn More?
We believe that quality legal services are essential to the success of your professional practice. We provide our professional clients with effective representation and affordable, innovative legal solutions. We seek to understand your practice and your objectives to serve you effectively.
To learn more about developing a plan that’s right for your professional practice, arrange to meet with an attorney at NC Planning. We represent and serve professional clients in the greater Raleigh area and throughout the State of North Carolina.
To learn more, or to schedule an initial consultation, call NC Planning at (919) 568-3681 or complete the contact form here on our website. Our offices are located in Raleigh at 4801 Glenwood Avenue, Suite 200.
NC Planning also has offices in Cary at 5640 Dillard Drive, Suite 101. It’s never too early to plan for tomorrow. NC Planning can help.