The Dose Episode 4 – Estate Planning with Brad Cohen

On this episode, I have a great conversation with Brad Cohen. Brad is an estate and business planning attorney with Cohen, Garelick, and Glazier law firm in Indianapolis.

What’s unique about Brad, though, is his practice is very focused and dedicated on serving the personal and business planning needs of white coat professionals. As we unpack and discuss the specific legal challenges as well as planning considerations and strategies for white coat professionals, Brad’s extensive experience and well-rounded body of knowledge make him a great guest for today’s show.

During our conversation, we discuss:

• Contract negotiation strategies and ideas for associates…and why the size of the organization you’re considering joining matter in that process.
• Should you hire an attorney to review your contract or can you do it yourself?
• What is “estate planning” and when should you complete that process?
• The difference between wills and trusts and mistakes to avoid
• The different types of business entities to choose from when starting a practice and the benefits to each entity.
• How to think about transitioning an associate to an owner/equity partner…and why it’s not always a great financial move for the original owner.
• A strategy to use a certain type of retirement plan to help offset potential tax liabilities from the sale of their practice.
• Why it’s important to have a buy/sell plan in place…and why you don’t always need to use life insurance to fund it!
• The difference between a stock and an asset sale when selling or buying a practice…and which one you should pursue (depending on whether you’re the buyer or seller).