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

INTRODUCTION

PRACTICE AREA: Health Care, Corporate & Business Transactions

Mr. Prescott is a member of the Health Care practice group and Corporate and Business Transactions Department. He served on the Firm's Board of Directors and continues to serve as Vice-President.

Mr. Prescott represents dentists, dental specialists, and other professionals in the areas of partnerships, practice sales and acquisitions, practice valuations, group practice and solo group arrangements. As of the date of this publication, Mr. Prescott is the author of eight books and over 100 articles on the law and dentistry. For Mr. Prescott's most recent book, Joining and Leaving the Dental Practice, 4th Edition, published 2021, through the American Dental Association, see https://www.ada.org/resources/careers/joining-and-leaving-the-dental-practice.

Throughout his career as a lawyer, Mr. Prescott has spoken at over 340 programs throughout the country at dental associations, dental societies, dental schools and residencies, study clubs and CPA organizations. Mr. Prescott is a Past-Chair and continues to serve as Vice-Chair, Professional Practices, American Bar Association, Section of Taxation, and is a frequent speaker at its Meetings.

Prior to joining the Firm in 1989, Mr. Prescott worked in the dental equipment and supply industry for 16-1/2 years as a territory representative, equipment specialist and General Manager, Saslow Dental Company — Northern Ohio. Mr. Prescott has proudly served dentists for more than 50 years.

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.

Contact:
p: 440.695.8067
f: 440.695.8098
WPrescott@WickensLaw.com

William P. Prescott

LEARN MORE ABOUT BILL

What's the biggest challenge in your job?

My biggest professional challenge is working on a fulltime basis and fulfilling my commitment as a lifelong student to continually better understand the complex and everchanging tax laws that affect the clients I represent.

Why do/should people want to and choose to work with you?

I hope clients choose to engage my services because they recognize I believe that quality work, completion on a timely basis and within budget and integrity are essential. In addition, I have accumulated substantial expertise in what I do.

What is your passion? What are you passionate about? What makes you tick?

My primary passion is to live a healthy, happy and long life with Mary Lou, my wife of 43 years. After that, my passion is my work with dentists and dental specialists, writing about my work and lecturing to dental associations, societies, study clubs and schools. Finally, to continue to work at my pace, I find it necessary to stay in shape, mostly through running.

What one quote resonates with you, either personally or professionally (or both)?

"Never Quit" were the words of advice given by Dorothy Fuldheim, a well-known former Cleveland newswoman, during her presentation at my Baldwin Wallace graduation. Dorothy Fuldheim explained that she grew up as a Jewish child hiding from the Nazis in Poland during World War II and recalled that her uncle told her to never quit to protect her from being discovered and imprisoned or worse.

Tell me something unique about yourself.

I firmly believe that if you can dream it, you can do it! I am unique because I am actually living my dream.

What's in your wallet/purse right this very minute? What do you never leave home without?

The $20.00 bill that my wife always wants me to have stashed in my wallet for emergencies and my driver's license.

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

State of Ohio

American Bar Association, Section of Taxation, Closely Held Businesses Committee (Chair, 2007-2009 Term; Vice-Chair, Professional Practices, 2009-Present)
Editorial Board – The Practical Tax Lawyer, American Law Institute (2007-2022)
Small Business Council of America (Director, -Present)
Cleveland Metropolitan Bar Association
Ohio State Bar Association

Martindale-Hubbell AV rating

PDF: Biographical Information

Joining and Leaving the Dental Practice, Fourth Edition.

(American Dental Association members can download the eBook for free at https://www.ada.org/resources/careers/joining-and-leaving-the-dental-practice.)

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”

Author – Articles:

Author – Books:

  • Joining And Leaving the Dental Practice
    • Fourth Edition, 2021
    • Third Edition, 2018
    • Second Edition, Berning & Affiliates, Inc., 2012
    • First Edition, 2008
  • Business, Legal, And Tax Planning for the Dental Practice
    • Second Edition, PennWell Corporation, 2001
    • 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

Fellow, American College of Tax Counsel

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