Physicians face unique financial and legal risks—making early estate planning essential, not optional. In this practical guide, financial advisor John S. Gardner outlines the must-haves: revocable and irrevocable trusts, asset protection strategies, succession planning for medical practices, and tools like durable powers of attorney.
Key insight: Start early. Planning ahead allows for better tax efficiency, stronger asset protection, and a lasting legacy—especially as estate tax exemptions are set to shrink by 2026.
Gardner, whose wife is a gastroenterologist, emphasizes: “Estate planning isn’t just for the wealthy—it’s how you protect your purpose.”