Medical Professionals and Divorce

Protecting Your Practice and Your Future

Divorce can be particularly complex for medical professionals, including physicians, surgeons, therapists, anesthesiologists, and other healthcare practitioners. Beyond the emotional challenges, these cases often involve intricate financial structures tied to professional practices, partnerships, and complex compensation arrangements. At Family Law Solutions, P.C., we understand the unique challenges and offer specialized legal guidance to protect your practice, your assets, and your future.

Medical professionals often have unique financial circumstances that require specialized attention in divorce proceedings. These include:

  • Professional Practice Valuation: Accurately valuing a medical practice, whether a solo practice, partnership, or larger group, is crucial. We work with experienced business valuation experts to ensure a fair and accurate valuation. We understand the privacy unique to medical practices when valuation is required.
  • Complex Compensation Structures: Physician compensation can be complex, involving base salary, bonuses, productivity incentives, partnership shares, and other benefits. We meticulously analyze these compensation packages to determine accurate income for support calculations and equitable division of assets.
  • Partnership Agreements: If you are part of a medical partnership, we review partnership agreements carefully to understand buy-out provisions, ownership interests, and other critical details.
  • Deferred Compensation and Retirement Plans: Medical professionals often have substantial deferred compensation and retirement plans, including 401(k)s, profit-sharing plans, and defined benefit plans. We work with financial experts to properly value and divide these assets, considering tax implications and long-term financial security.
  • Malpractice Insurance and Liability: Issues related to malpractice insurance coverage and potential future liabilities must be addressed in the divorce settlement to protect both parties.
  • Spousal Support Considerations: Given the often high-income potential of medical professionals, spousal support calculations can be complex. We advocate for a fair determination of spousal support, considering factors such as lifestyle maintenance, future earning capacity, and contributions to the marriage.
  • HIPAA Compliance: Protecting patient privacy and complying with HIPAA regulations is essential throughout the divorce process, especially when dealing with sensitive financial and medical information.
  • Intellectual Property: Patents and royalties are often at issue and need to be further addressed. Doctors often invent medical devices or procedures and patent or trademark. They write and publish.
  • Parenting Agreements: Parenting agreements for medical professionals often are difficult to frame due to the long and uncertain hours worked by many. We know how to deal with these challenges.

At Family Law Solutions, P.C., we provide comprehensive legal services tailored to the specific needs of medical professionals facing divorce. Our approach includes:

  • Collaboration with Financial Experts: We work closely with a team of financial professionals, including Certified Divorce Financial Analysts (CDFAs), forensic accountants, business valuation experts, tax specialists, corporate counsel and estate and trust attorneys to provide a clear and accurate picture of your financial situation.
  • Strategic Negotiation and Advocacy: We are skilled negotiators, fierce advocates and strong litigators working to protect your interests and achieve the best possible outcome, whether through mediation, arbitration, or litigation.
  • Preservation of Your Practice: We understand the importance of preserving your medical practice and minimizing disruption during the divorce process. We work with you to develop strategies that protect your business interests and ensure its continued success.
  • Confidential and Compassionate Representation: We understand the sensitive nature of divorce and are committed to providing discreet, confidential, and compassionate representation.

By working with Family Law Solutions, P.C., you’ll gain the independence and confidence you need going forward into your retirement after divorce.

Contact Family Law Solutions, P.C. Today

Divorcing as a medical professional presents unique challenges, but with the right legal counsel, you can protect your practice, your assets, and your financial future. Contact Family Law Solutions, P.C. today for a confidential consultation at (312) 332-1344 or CLICK HERE.

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About Us

Family law is complicated. The impact on the lives of everyone involved cannot be minimized, but Janet helps her clients discover that life will go on, and in many cases, will be better.