I Ain't Selling, so Why Appraise?

It's a common assumption (and misconception) that a practice should only be appraised in advance of its sale.

Even without an upcoming practice transition, there are several compelling reasons dentists may have to get their practice appraised, including:

• Life Insurance Review and Planning
• Estate and Gift Tax Planning
• Division of Community Assets (Divorce)
• Future Buy-in/out Arrangement with an Associate
• Formation of Partnership or Group

Dental practice owners need to approach such events and projects with information about their practice value in order to make the best decisions to help them reach their short and long-term goals.

A good practice appraisal should include more than just the estimated fair market value of the practice. But that's a subject for another day.