Sometimes running a medical practice can feel like a game of cops and robbers. This interview with Art McOmber of Legally Mine, LLC, an asset protection company based in Orem, Utah, explains how his FBI career actually comes in handy when helping aesthetic surgeons protect their financial assets. For many, Art has been a familiar face as he frequently speaks at a number of different medical meetings, but what makes him particularly memorable is learning how his 15 years of work as a special agent at the FBI is utilized to protect medical doctors from modern day robbers who take advantage of the legal system and try to steal a doctor’s personal assets. Learn more at www.legallymineusa.com.
How does your FBI Special Agent background help you understand how to protect a doctor’s financial assets?
I worked as a special agent for 15 years in San Diego, CA. My investigative work covered bank robbery investigations, kidnappings, fugitives, drug investigations, and counter terrorism. Upon leaving the FBI, I started my own business and became aware of this concept of asset protection. So, I started calling lawyers asking what they knew about asset protection, but I was frustrated because every attorney I talked to about asset protection gave me a different answer. A friend of mine referred me to Dan McNeff, the owner of Legally Mine, LLC. It became apparent that my years of dealing with crime on all levels helped me understand better the need for asset protection. Crimes are generally committed against vulnerable people and I could see how easy it is for someone to target a doctor through a law suit and take from them everything they have worked their whole lives for.
What is unique about Legally Mine?
I like the fact that it’s a turnkey approach. A doctor can hire them to not only provide asset protection services, but also help reduce their tax burden by using proper IRS tax laws. What really appealed to me is that they are the largest asset protection company in the nation with the longest case history. In my work with the FBI, the whole point was to provide protection from the bad guys. I feel that doctors are a target for law suits because it is perceived that they are wealthy and, therefore, have money and assets that somebody wants to take from them.
Why do doctors enjoy Legally Mine services?
The doctors I have met prefer to be doctors, rather than business men. It’s a welcome relief to have professionals looking out for you at this level, especially professionals with a proven track record of secure asset protection that is provided at a relatively low fee.
What similarities do you find working with medical aesthetics compared to the FBI?
Well, I think the similarity that I have found is that, generally speaking, there are terrific people in this country and in the world. The majority of people are industrious and generally great people. Doctors are among those individuals, men and women, who have dedicated hundreds of thousands of hours of their lives to become medical professionals. Unfortunately, on the other side of that coin, there is a percentage of society that is just the absolute worst, in my opinion. They victimize whoever they can to try to get ahead, whether it’s a bank robber who robs a bank or a white collar criminal who embezzles millions of dollars. During my career as an FBI agent, I often met victims of crime. So, as I left the FBI and moved into the world of asset protection, I started talking to doctors whose lives had been shattered due to a law suit that could have been avoided. They were victims, just like any other victim I’ve met in the FBI.
Do you miss your career in the FBI?
Honestly, I get the same satisfaction from working with doctors as I did from working with the FBI, getting bad guys off the streets, and throwing them in jail. When I left the FBI, I thought I was going to miss it. I did for several years until I got in touch with Dan and became part of this wonderful family of asset protection. Now I get to feel that I really helped someone all over again every time I talk to a doctor. My job is to keep them protected, and I enjoy seeing the relief on their face when we explain just how we are going to do that. It’s very rewarding.
How does Legally Mine prevent lawsuits against doctors?
Our job is to make lawsuits go away. We do what we do so that if any lawyer looks at suing a doctor and does a background check, they know they’re not going to get awarded anything in a Court of Law because we have set up a safety net for the doctor’s assetts. They’re not going to get anything by suing a customer of Legally Mine, LLC because they are too well protected. That’s our job. That’s what people hire us to do.
How does Legally Mine protect things like a vacation home, real estate investments, stock portfolio, jewelry, etc.
We take assets out of the name of our clients and put them in a proper corporate entity, so they’re owned and governed by the laws of that entity. Whether it’s an LLC, a family limited partnership, or anything, the laws that govern that specific business entity and prevent that asset from being taken in a lawsuit. We get all their information about everything that they own and then we create for them a blueprint. We show them the entities we are going to use to protect their assets, how they work, and walk them right through that blueprint.
What percentage of medical professionals actually have asset protection?
I’ve never met a doctor that said ” I’ve got all this handled and completely figured out”. We estimated that 80 to 85% of doctors do not have correct asset protection, if any. The other 15% may have an S Corporation, Corporation or LLC for their business but they don’t use them properly. In my estimate, the overall percentage of people who really need asset protection is well over 90 to 95%.
Most doctors have an accountant/CPA, and attorney. Why aren’t they fixing these problems for the doctor?
Generally they don’t specialize in asset protection. They take care of a lot of important and different things at the practice, but unless they have received specialized training in asset protection, they aren’t aware of the vulnerability. Also, laws are changing all the time, so it’s tough to be caught up on all the changes and loop holes in the legal system every single year. Dan McNeff, the CEO of Legally Mine, LLC, requires all the attorneys in his company have current knowledge because this is their specialty. Also, the laws differ from state to state and it is important that an asset protection company be aware of every single law and that might be too much to expect from the other business professionals working for the practice.
To learn more about Legally Mine, LLC visit www.legallymineusa.com, or call (855) 361-2686.
To listen to Art McOmber’s interview on Aesthetic Insider™ Radio. CLICK HERE!