William P. Prescott, Esq., E.M.B.A.


Dental Law • Mergers & Acquisitions • Professional Practices & Health Care • Business Organizations & Tax • Business & Family Succession Planning • Employee Benefits & ERISA

Mr. Prescott is a member of the Business Organizations & Tax Department and serves on the Firm’s Board of Directors. Mr. Prescott represents and consults dentists, dental specialists, and their practices in the areas of developing business and tax structures for co‑ownership, associate buy‑ins, owner buy‑outs, compensation planning, practice sales and acquisitions, valuations, group and solo-group arrangements, dispute resolution, fringe and employee benefits, and business and tax planning. Mr. Prescott is the author of Joining And Leaving The Dental Practice, Berning & Affiliates, Inc., Second Edition, December 2012, First Edition 2008; Business, Legal, And Tax Planning for the Dental Practice, Second Edition, 2001, First Edition 1994 (PennWell Corporation); The Practice Acquisition Handbook, Berning & Affiliates, Inc., 1997; The Limited Liability Company and Other Entities For Dentistry, Berning & Affiliates, Inc., 1996. Mr. Prescott is also the author of numerous articles on the law and dentistry.

Prior to practicing law with the same Firm for almost 27 years, Mr. Prescott worked in the dental equipment and supply industry, primarily with Saslow and Meer Dental Companies, for 16-1/2 years as a territory representative, equipment specialist and General Manager, Saslow Dental Company — Northern Ohio.

Martindale-Hubbell has awarded Mr. Prescott an AV rating for preeminent legal ability and having the highest ethical standards.  Mr. Prescott has also been elected as a Fellow, American College of Tax Counsel.

Practice Focus:
Practice Succession Planning
Practice Entry Planning
Owner Buy-Outs
Associate Buy-Ins
Group Practice Representation
Succession Planning
Practice Valuations
Practice Sales and Acquisitions
Solo Group Arrangements
Employment Agreements
Employment Relations
Employee Benefits
Entity Selection and Dissolution
Practice Facility Lease, Sale and Purchase

Bar Admission:
1989 State of Ohio

1972 Cleveland State University (B.B.A., Marketing)
1984 Baldwin-Wallace College (Executive M.B.A., Systems Management)
1988 Cleveland-Marshall College of Law (J.D.)

Professional & Civic Affiliations:
American Bar Association, Section of Taxation, Closely Held Businesses Committee (Chair 2007-2009 Term, Vice-Chair, Professional Practices, 2009‑2011, 2011‑2013, 2014-2015, 2016-2017 Terms)
Fellow, American College of Tax Counsel
The Practical Tax Lawyer (Editorial Board)
Small Business Council of America
Cleveland Metropolitan Bar Association
Ohio State Bar Association

Biographical Information

Course Descriptions, Curriculums, PowerPoints and Materials

“Exit Strategies – The Rat Race Is Over And The Rats Didn’t Win!”

“Co-Ownership – Getting In, Staying In and Getting Out: The Good, The Bad and The Tax!”

“Entering Practice – Make The First Choice The Right Choice!”

“Practice Operations & Personal Planning”

“The Basics of Hiring and Firing”

“Employment Policies You Need To Know”

“BIG Idea: Small Group Practice – Building the Legal Entity”

Selected Past Speaking Engagements:

  • American Dental Association, October 19, 2016 | Denver, Colorado – Program PowerPoint
  • Virginia Dental Association, Annual Session | Norfolk, VA
  • American Association of Endodontists, Annual Meeting | Seattle, WA
  • Chicago Dental Society, Midwinter Meeting | Chicago, IL
  • American Association of Orthodontists | Philadelphia, PA
  • American Academy of Dental Group Practice | Las Vegas, NV

Author – Articles:

Author – Books:

  • Joining And Leaving The Dental Practice, Second Edition, Berning & Affiliates, Inc., 2012
  • Joining And Leaving the Dental Practice, First Edition, 2008
  • Business, Legal, And Tax Planning for the Dental Practice, Second Edition, PennWell Corporation, 2001
  • Business, Legal, And Tax Planning for the Dental Practice, First Edition, PennWell Corporation, 1994
  • The Practice Acquisition Handbook, Berning & Affiliates, Inc., 1997
  • The Limited Liability Company and Other Entities for Dentistry, Berning & Affiliates, Inc., 1996

Purchase Joining And Leaving the Dental Practice (second edition) NOW!
Use Promo Code “Prescott” for 20% off purchase price.

Considering joining a practice or planning on retiring? The completely revised and updated Joining And leaving the Dental Practice (Second Edition) is now available and can  be ordered and downloaded on line at www.BerningAffiliates.biz.

This publication will answer your questions about how to undertake some of the most important steps in any dentists’ career without missteps.  Regarding entering practice an entire chapter is devoted to “Make the First Choice the Right Choice”.  For those doctor’s thinking about retirement read “Exit Choices”.  This material is appropriate not only for doctors but also spouses and advisors. Author William P. Prescott, MBA, JD, is a practice transition attorney with the Cleveland firm of Wickens, Herzer, Panza, Cook & Batista Co.  Topics range from planning options, associateship solo group, valuation, restrictive covenants and much more.  The 164 page publication is supported by 49 figures including example agreements, decision matrixes, and an invaluable due diligence checklist. Priced at $49.95.

Berning & Affiliates, Inc.  since 1988 has been is a publisher of expert level materials for dentists and  dental specialists offered as part of the more than 50 titles of THE EXPERT SERIES FOR DENTISTS™  and related materials.

Joining And Leaving the Dental Practice

164 pages, 49 supporting figures

Publication price: $49.95

The Table of Contents, Author Profile and Chapter 1 can be viewed at www.BerningAffiliates.biz.   For  more information, contact Berning & Affiliates, Inc. at www.BerningAffiliates.com or call 800-999-8121.


Business, Legal, And Tax Planning for the Dental Practice, Second Edition

Title Page

Forward by Dr. James R. Pride

Chapter Headings

Chapter 1 – Steps to Retirement

Chapter 2 – Assessing Succession Options

Chapter 3 (Figure 1) – Representations and Warranties

Chapter 3 (Figure 2) – Letter of Intent

Chapter 3 (Figure 3) – Practice Document Matrix

Chapter 4 – Hiring & Becoming The Associate

Chapter 5 – Using Restrictive Covenants

Chapter 6 – Planning Associate Buy-Ins and Owner Buy-Outs

Chapter 6 (Figure 1) – Buy-Sell Agreement Matrix

Chapter 7 – Why Solo Group Practice Makes Sense

Chapter 8 – Selling To or Working for a Dental Service Management Organization

Chapter 9 – Understanding Practice Valuations

Chapter 9 (Figure 1) – Purchase Matrix

Chapter 9 (Figure 2) – Requesting Information For Valuation Purposes

Chapter 10 – Calculating Practice Value In A Changing Market

Chapter 10 (Figure 1) – Summation of Practice Assets

Chapter 11 – Finding and Retaining Quality Employees

Chapter 12 – Implementing And Updating Your Strategic Practice Plan

Chapter 13 – Dispute Resolution – Finding Middle Ground

Chapter 14 – Negotiating Your Facility Lease

Chapter 15 – Owning, Acquiring and Selling Your Building

Chapter 16 – Selecting Your Practice Entity

Chapter 16 (Figure 1) – Articles of Incorporation

Chapter 16 (Figure 2) – Bylaws

Chapter 16 (Figure 3) – Annual Shareholder Minutes

Chapter 16 (Figure 4) – Annual Director Minutes

Chapter 16 (Figure 5) – Year End Matter Information Sheet

Chapter 17 – Managed Care Contracts

Chapter 18 – Designing, Relocating or Establishing The Practice Facility

Chapter 18 (Figure 1) – Considerations

Chapter 18 (Figure 2) – Capital Outlay

Chapter 19 – Assessing Your Practice Options

Chapter 19 (Figure 1) – Practice Option Report

Chapter 19 (Figure 2) – Practice Option Report Matrix

Chapter 20 – Acquiring Your Practice

Chapter 20 (Figure 1) – Due Diligence Checklist

Chapter 21 – Implementing Effective Measurements And Controls

Chapter 21 (Figure 1) – Categories To Monitor

Chapter 21 (Figure 2) – Paying Relocation Costs

Chapter 21 (Figure 3) – Practice Systems

Chapter 22 – Designing The Right Retirement Plan

Chapter 22 (Figure 1) – State-By-State Analysis of IRAs

Chapter 22 (Figure 2) – Comparison of Tax-Qualified Plans

Chapter 23 – Review of Fringe Benefits

Chapter 23 (Figure 1) – Comparison of Tax-Qualified Fringe Benefits

Chapter 23 (Figure 2) – Expense Reimbursement Policy Examples

Chapter 24 – Protecting Your Assets

Chapter 25 – Planning Your Estate

Chapter 25 (Figure 1) – Information Sheet

Summary and Thoughts for the Future


Contact Information:
Direct (440) 695-8067
Cell (440) 320-8984
Fax (440) 695-8098
Email WPrescott@WickensLaw.com

Website www.PrescottDentalLaw.com