Medical practitioners with clinics, reputations and earnings to protect have a lot to lose in a divorce. Your medical degree and license may lead to earning capacity, but don’t necessarily guarantee success. It can take years of hard work to build up your practice. Protecting it in your high net worth divorce settlement can mean saving your financial future. Even if you were a practicing doctor before your marriage, your medical practice and professional career can be classified as marital property, subject to equitable distribution under New York divorce law.If You Are a Doctor or Dentist Facing Divorce, Call Me First
For more than a quarter century, I, Jonathan D. Katz, Attorney at Law, in New Paltz have been protecting doctors, dentists, chiropractors and other medical professionals going through divorce in communities throughout the Hudson Valley, the Catskills and the New York City metro region.Family Law Lawyer Serving Albany, Kingston, New Paltz, & Hudson Valley, NY
Earnings and investments resulting from your medical practice will be classified as either separate property or marital property during a divorce. It is critical to make sure the value of the medical practice, professional license, patient list and future earnings is considered fairly during settlement negotiations and accurately reflected in any court decision. In addition, opposing attorneys will often try to claim that your spouse has rights to the appreciated value of a medical practice. Under New York law, if a medical professional can show that the spouse played no role in the increased value of the practice, it may be possible to keep the issue off the table.
I represent medical practitioners in complex high asset property settlement divorces involving:
- Professional practice valuation and the protection of financial equity
- Appreciation of separate marital property
- Transmutation of financial assets over the duration of the marriage
- Corporate and personal tax obligations
- Commercial property ownership
- Division of marital debts
If you are a medical practitioner considering divorce, make sure your lawyer has the knowledge and skills to understand the heart of the financial issues involved. Contact my offices in New Paltz, New York, to arrange an opportunity to discuss your financial concerns.