Doctors Have Special Needs in a Florida Divorce

Medicine is a demanding field, and many doctors end up getting divorced due to stress or disagreements with their spouse. Whatever the reason for divorce, doctors and related medical professionals need proper legal advice. The reality is that you face potential landmines if you do not preserve client information as part of your divorce, and a judge might take you to the cleaners by awarding a huge child support award to your spouse. Now is the time to retain a law firm that handles high-end divorce cases.

Doctors Face Many Challenges

The main challenge of a divorce involves dividing marital property, including your medical practice. Some doctors are surprised that their practice could in any way be considered “marital.” After all, your spouse may have never stepped foot inside or met a patient. How could he or she have any right to some of the equity in the business?

The reality is that Florida law considers most assets acquired after marriage to be marital and subject to division. A business is an asset, just like a house.

If you started the practice before marriage, then some of the increase in the value of the business could be marital also.

Putting a value on practice is challenging.

Protecting client information is also critical. As part of valuing a practice, lawyers might employ valuation experts to look at financial statements. You have legal obligations as a doctor to protect client information, and penalties are steep if you fail to do so. An inexperienced lawyer could turn over information that should be confidential, jeopardizing your practice and reputation.

Another challenge is preserving your reputation. Doctors are high profile professionals in most communities. You want to keep your reputation spotless and not let reckless accusations damage everything you have worked for.

Another area of concern is avoiding a punitive child support or alimony award. Whenever one spouse has a high income, the risk of a hefty alimony or child support award increases. Florida has certain guidelines judges use to calculate support, but they can often depart from the guidelines and might be prone to do so when one spouse has a high income.

Contact a Miami High Net Worth Divorce Lawyer Today

At Hamilton O’Neill, we have helped many professionals seek an amicable divorce. Our clients know that they need to support their children and are happy to do so. The risk is that the other parent and their legal team will claim extraordinary educational or medical expenses are “necessary,” all to inflate the amount you pay each month. The same risk exists with alimony, with a spouse claiming they need a huge monthly payment.

Contact our office to speak with a Miami high net worth divorce lawyer. We can meet for a private, no-risk consultation to address your concerns.