Boca Raton Divorce for Physicians Lawyer
If you are a doctor getting a divorce in Boca Raton, you may think your case will proceed just as any other. Unfortunately, that is not exactly true. While all divorce cases will have their own unique issues, this is particularly true for physicians who are ending their marriage. Below, our Boca Raton divorce lawyer explains the different issues you may face.
Medical Practices as Marital Property
It is not uncommon for business owners to worry that their livelihood will be affected or worse, completely destroyed, if they get a divorce. Businesses are considered marital property if they were started after the marriage was official, or if the profits from the business contributed to the marital household. Likewise, if household funds were used to help start the business, this would also classify the business as marital property.
Fortunately for physicians, while a medical practice may be classified as marital property, it does not mean that it will be divided or that both spouses will co-own it at some point in the future. Instead, the physician will keep the practice and the spouse who is not a doctor will receive assets of equal or greater value. The practice must be properly valued to determine the amount of assets the non-practicing spouse is entitled to.
Medical Degrees as Marital Property
When one spouse obtains a medical degree during the marriage, they often wonder if it is considered marital property in the event of divorce. Legally, the answer to this is clearly “no.” Professional and college degrees are never classified as marital property because determining the value would require far too much speculation. Still, it is important to note that student loan, which may have been used to obtain a medical degree, is considered marital property and so, that debt may be divided in the event of divorce.
Do Non-Physician Spouses Always Receive Alimony?
In any type of divorce, there is no such thing as one spouse who ‘always’ receives alimony. There are many factors a judge will consider when making decisions on alimony. These include:
- The length of the marriage
- One spouse’s need for alimony
- One spouse’s ability to pay alimony
- The standard of living established during the marriage
- Any sacrifices one spouse made to further the education or training of the other spouse
Clearly, whether or not a person is married to a physician or not is not taken into consideration. That does not mean it will not have any bearing on an alimony case, though. For example, if one spouse worked to help their partner financially afford medical school, that could be used as an argument that they are entitled to alimony.
Our Boca Raton Divorce Lawyer for Physicians Can Advise On Your Case
If you are a doctor and are getting a divorce, our Boca Raton divorce for physicians lawyer at Williams & Varsegi can provide the sound legal advice you need for the unique issues your case will present. Call us now at 954-255-56565 or contact us online to schedule a consultation and to learn more about how we can help.