Lawyers & Divorce
Licensed attorneys work years to build up their practice or to earn a partnership at a law practice. Your future is at stake. Your law career can be worth millions of dollars in income and revenue over the course of a lifetime. Losing it all or a part of it in your divorce settlement isn’t an option. Even if you were a successful lawyer before your marriage, the courts can determine that the appreciated value of your practice and your career must be subject to equitable distribution.Are You Worried About Losing Your Law Practice in Divorce?
For more than 25 years, legal professionals filing for divorce have been turning to the lawyers’ lawyer, Jonathan D. Katz, Attorney at Law, in New Paltz, New York. I use every available strategy and method to determine fair valuation of your practice and protect your career from the financial ruin of losing it in a settlement.Appreciated Value of Your Law Practice During Your Marriage
A successful law practice increases in value over time, just as any other business asset often does. Even if you operated your practice before your marriage, your spouse may argue that the value of your license and practice increased in value because of their efforts. Under New York law, you may be able to limit your exposure relating to appreciated value by showing that your spouse did little or nothing to contribute to the growing success of your career. I will work to develop a strategy to keep your law practice off the negotiating table.
I represent lawyers in complex high asset property settlement divorces involving:
- Protection of professional practices
- Appreciation of separate property
- Corporate and personal income tax issues
- Transmutation of assets
- Commercial building ownership
- Business and personal debt responsibility
If you are an attorney who is considering filing for divorce or has been served with divorce papers in the Hudson Valley, the Catskills or the New York City area, make sure you talk to a knowledgeable family law colleague who has the knowledge and skills to understand the heart of the financial issues involved in protecting your law practice.
Contact my offices in New Paltz, New York, to arrange an opportunity to discuss your concerns.