Your Practice Is Worth Millions — What If You Can't Work Tomorrow? (Key Person Insurance) with Hosts Eric Miller & Eric Gersch

What happens to your healthcare practice if you suddenly can't work? Most practice owners never ask this question — until it's too late. In this episode, Eric Miller and Eric Gesrch break down the asset protection strategies every practice owner needs before disaster strikes: • The real story of a $7.2M practice valuation that was pulled overnight — and how key person insurance would have prevented it • Short-term vs. long-term disability insurance: what your policy actually covers (and what it doesn't) • Key person insurance explained — why your practice can't survive without you, and how to insure against that risk • Buy-sell agreements: the exit strategy you need before a partner's death or disability forces a fire sale • Why practice owners routinely overestimate their coverage and underestimate their exposure Whether you're a dentist, physician, or any healthcare practice owner, your practice is your biggest wealth-building asset. Protect it like one. CHAPTERS 00:00 Roth Conversion Warning for Practice Owners 01:30 Introduction 03:50 Understanding Roth Conversions 06:13 The 3 Types of Tax Treatment 06:55 Taxable Investment Accounts Explained 08:55 Tax Deferred Accounts Explained 11:33 Tax Advantaged Accounts Explained 13:20 What Happens During a Roth Conversion 14:45 The Hidden Tax Bill 17:59 When Roth Conversions Make Sense 20:10 Selling Your Practice and Tax Opportunities 22:31 Avoiding Required Minimum Distributions 24:10 Why Most People Don't Convert 25:25 Retirement Income vs Tax Brackets 26:22 Why Retirees Often Feel Wealthier 26:48 Final Takeaways _________________________________________________________________________________ Want to schedule a free consultation? Visit www.econologics.com or call us at (727) 588-1540 or schedule directly at: hhttps://econologicsfinancialadvisors.com/complimentary-consultation/  Get Social With Us Website: https://www.econologicsfinancialadvisors.com  LinkedIn: https://www.linkedin.com/company/econologics Facebook: https://www.facebook.com/econologicsfinancial  Instagram: https://www.instagram.com/econologicsfinancialadvisors  X / Twitter: https://x.com/FinancialBeasts  Vimeo: https://vimeo.com/econologics  🔒 Disclaimer Econologics Financial Advisors, LLC (‘EFA’) is registered with the Securities and Exchange Commission as an investment advisor. (Such registration does not imply a certain level of skill or training.) EFA provides investment advisory services only in states where it is permitted to do so under state laws and only to the extent permitted thereby. This communication is not an offer to sell or effect any transaction in securities. Neither EFA nor its affiliates provide legal, tax or accounting advice. Please consult a qualified attorney or accountant. Results are not guaranteed and will vary depending on the specific circumstances of each individual and on other factors. Full disclosure: https://econologicsfinancialadvisors.com/legal-disclosures/