Legally Mine has built its reputation as a leading asset protection firm by helping medical professionals and business owners shield their hard-earned assets through a strategic legal framework. Based in Orem, Utah, the firm took its current form under Daniel McNeff’s leadership in 2007, growing to employ about 50 people and serve over 15,000 clients nationwide.
“After gaining experience under Jay Mitton, a pioneer in the asset protection industry, Dan transformed Legally Mine with a new business structure that made services more affordable for members and allowed our team to handle most of the detailed work for them,” a company spokesperson says.
This business model shift proved crucial to the company’s success. Instead of simply educating clients and leaving them to implement complex legal strategies on their own, Legally Mine now manages most of the detailed work for physicians and other professionals with significant assets to protect.
“We set out to help physicians around the United States keep what they’ve spent years earning for themselves and their families,” the spokesperson says. This mission has resonated with medical professionals across the country who worry about liability in an increasingly complex legal environment.
Why High-Earning Careers Need Asset Protection
For many high-earning professionals, particularly those in medicine, the risk of litigation represents a significant threat to their financial security. Without a proper legal framework, a single lawsuit, even one without merit, can jeopardize both business and personal assets accumulated over decades of work.
McNeff, who served as senior vice president at one of the nation’s largest financial services companies for 15 years before focusing exclusively on Legally Mine, recognized this vulnerability among medical professionals. His extensive background provided valuable insights into the challenges faced by high-net-worth individuals who often become targets for litigation.
Asset protection, at its core, involves legally separating business liabilities from personal assets through appropriate entity structures.
“Our attorneys create individualized asset protection blueprints for each member based on the information gathered by the member’s client coordinator,” the spokesperson says. This customized approach recognizes that each professional’s situation requires unique consideration.
“The Legally Mine team has been invaluable for wealth protection and legal advice, seamlessly integrating into our decision-making process,” one physician shares in one of several Legally Mine reviews.
Legally Mine Exposes the Risks Lurking Beyond Insurance
Many professionals operate under the misconception that basic insurance policies provide sufficient protection against litigation. However, insurance policies have coverage limits and numerous exclusions that can leave significant gaps in protection.
Without proper entity structuring, professionals face what asset protection experts call “piercing the corporate veil”—a legal doctrine that allows plaintiffs to reach beyond business assets to collect from personal assets when proper separation doesn’t exist.
“They’ve guided us patiently, even tackling our simplest questions to ensure we grasp everything,” a business owner who began working with Legally Mine in 2019 reflects.
Education is key to the firm’s strategy. By partnering with medical associations for events, Legally Mine raises awareness about these overlooked threats. “Our association has thoroughly enjoyed partnering with Legally Mine to bring awareness to our members about issues that most never considered before,” an association partner observes. This focus on insight empowers both doctors and entrepreneurs to bolster their defenses beyond standard insurance.
Legally Mine Makes Choosing Between LLCs and Trusts Simple
Among the most common confusion for professionals seeking asset protection involves choosing between various legal structures such as limited liability companies (LLCs), trusts, and other entities. Each offers distinct advantages depending on a professional’s specific situation.
Legally Mine helps clients navigate these options through personalized legal consultations. “Our legal team also holds appointments with members to review these blueprints and make sure our members understand their recommendations and have all of their questions answered before moving forward,” the company explains.
LLCs typically offer strong protection for business assets while providing flexibility in taxation and management. Trusts, meanwhile, offer different advantages, particularly for estate planning purposes. They can provide continuity of asset management across generations while potentially reducing estate taxes and avoiding probate.
“They put together an asset protection plan and a family trust for us,” a physician says in one of Legally Mine reviews. “This is a process that takes some time, and they have walked us through every step.”
For many professionals, the optimal strategy involves a combination of entities working together as part of a comprehensive plan. Legally Mine specializes in designing these integrated structures tailored to each client’s risk profile, profession, and financial goals.
Once the blueprint is approved, Legally Mine’s entity creation department works with state agencies and the IRS to establish the necessary legal entities for implementing the protection strategy. “This includes making any amendments or updates that the member requests even after their initial fulfillment is complete,” the company spokesperson says.
Legally Mine Fortifies Physicians Against Malpractice Threats
Medical professionals face unique liability challenges that require specialized protection strategies. While malpractice insurance provides one layer of protection, its coverage limits and exclusions leave many physicians vulnerable to catastrophic financial losses from lawsuits.
“Although our country is full of attorneys, the number of attorneys that specialize specifically in asset protection is extremely low,” the spokesperson says, highlighting the specialized expertise required for effective protection in the medical field.
This separation ensures that a claim against their practice doesn’t threaten their personal wealth or other business interests, a benefit reinforced by coordination with financial planners and accountants.
“Legally Mine has streamlined all the ventures my husband and I manage, offering quick answers and coordinating with our accountants and financial planner to simplify our lives,” a physician client explains.
This coordination between financial professionals—accountants, financial planners, and Legally Mine’s attorneys—creates a cohesive approach that addresses both immediate protection concerns and long-term financial planning.
Beyond entity structuring, Legally Mine also educates medical professionals about operational best practices that reduce their liability exposure in the first place. While no strategy can prevent all lawsuits, accurate documentation, communication protocols, and business practices can significantly reduce risks.
Blending Asset Protection with Estate Planning
While asset protection focuses on shielding wealth from potential litigation during a professional’s lifetime, estate planning addresses the preservation and transfer of wealth across generations. Both are essential components of a comprehensive financial strategy.
“We ensure that our members’ assets are protected not only while they are alive but after they pass away,” the spokesperson explains. “We use the living trust as a tool to allow our members to pass as much on to their heirs as possible while eliminating probate.”
Many professionals make the mistake of addressing one need without the other, leaving significant gaps in their overall protection. Without accurate estate planning, even well-protected assets can face unnecessary taxation, probate delays, and potential disputes among heirs.
Another common mistake involves failing to coordinate asset protection structures with estate planning documents. When proper alignment is missing, conflicts between various legal instruments can create unintended consequences or vulnerabilities. Legally Mine addresses this concern through a unified approach that ensures all legal structures work in harmony.
Legally Mine’s Stance for the Future
With over 15,000 clients served since 2007, Legally Mine remains committed to advancing integrated asset protection and estate planning, leveraging deep expertise in the unique challenges that medical professionals face. This specialized knowledge forms the foundation of their forward-looking approach, delivering practical benefits for clients who often lack the time or expertise to navigate evolving legal complexities. By handling the detailed implementation work required for effective asset protection and estate planning, Legally Mine enables professionals to focus on their practice while they safeguard their future against potential legal vulnerabilities.
“This is an amazing company and if you do what they tell you to do, it will pay for itself,” one client notes in a Legally Mine review. “Don’t wait; do it now!”
With litigation risks projected to increase for medical and business professionals, Legally Mine’s specialized comprehensive legal structuring services are positioned to meet growing demand. Through their continuously evolving integrated approach that combines asset protection with tax strategy and estate planning, Legally Mine remains dedicated to their mission: helping professionals protect what they’ve worked so hard to build, today and into the future.
