© 2018 by The Dental Practice Lawyers

  • The Dental Practice Lawyers

Practice Areas

The process of buying, selling, or otherwise transitioning and/or modifying a general and/or specialized dental practice is full of hidden concerns and potential liabilities a dentist must consider to protect themselves and their interest.

 

Whether joining an existing practice, starting your first practice, buying an existing operation, operating your practice, or selling your business in order to retire, you can count on us.

Start-Ups and Acquisitions

Owning your own Dental Practice for most professionals is one of the greatest milestones of your professional career. Whether starting a new practice or buying an existing dental office, our attorneys are experienced with these matters. While start-up dentists generally require advice regarding choice of entities and lease reviews, acquisitions are more focused on the transference of the Seller’s goodwill and patient base retention.

 

Our professionals can guide you through the purchase process, ensuring that your investment is well protected.

 

 

 

Forming Professional Entities

Our attorneys will work closely with your dental CPA to determine the ideal entity type e.g., P.A./P.C. or LLC for your Practice.  In forming business entities, we typically prepare:

 

  • Articles of Incorporation/Organization

  • By-Laws/Operating Agreement

  • Waiver of Formal Notice of Meeting

  • Organizational Minutes

  • Stock/Unit Certificates

  • Tax Identification Number

  • “S Election” –if desired

  • Trade Name registration

 

Selecting Your Advisors

 

When buying or selling your dental practice you should seek competent legal counsel experienced in dental transitions as well as other specialized professionals that can assist you with the transaction to protect your interests:

 

  • Dental-focused Legal Counsel

  • Dental Transition Broker

  • Dental CPAs

  • Commercial Dental Realtor

  • Dental Specialty Lender

  • Dental Practice Consultants

 

Our dental attorneys, Michael R. Limsky and Stacie M. Dowling, are among only a few dental-focused attorneys. Within this “focused group” are a limited number of related professionals –namely Dental CPAs, Dental Practice Lenders, Transition Brokers, and Dental/Medical Realtors that our attorneys routinely utilize for client referral and reference purposes that enable us to provide our clients with full-service and well-rounded experience.

 

 

Selling Your Practice

 

The decision to sell your Dental Practice for many professionals is one of the most difficult of your dental career. Once the decision has been made, our attorneys will guide you through the practice transition process including, securing a trusted Transition Broker, ensuring a proper valuation of the practice, negotiating an advantageous purchase price allocation for tax purposes, and negotiating all of the details of your transition.

 

Our professionals can guide you through the sale process, ensuring that your sales proceeds are maximized; your tax liabilities and post-Closing concerns are minimal so you can enjoy your retirement without looking back.

 

Our practice transition services typically include drafting and review of the following:

 

  • Asset Purchase Agreement

  • Schedule of Assets to be Transferred

  • Schedule of Exempted Assets

  • PPO/HMO Credentialing

  • Schedule of Accounts Receivable

  • Restrictive Covenant Provisions

  • Schedule of Work In Progress

  • Professional Services Agreement

  • Bill of Sale

  • Assignment/Termination of Lease

  • Practice Settlement Statement

Practice Transitions