Aggressive criminal defense and family law representation for the greater Rochester area

Skilled Rochester Medical Professional Divorce Lawyer

Your medical practice is likely one of your proudest and most significant accomplishments. Additionally, you probably never thought that you would see the monetary value of your practice being divided between you and your ex-spouse.

However, a divorce can jeopardize your practice and reputation and negatively affect you long into the future. At Navarro Law Firm PLLC, attorney Dominique J. Navarro understands the divorce process and how to help physicians successfully fight for their medical practices.

What Is The Value Of Your Practice?

Calculating the value of your medical practice can be challenging as many factors can come into play. For instance, the tangible assets of your practice, which include medical equipment and the location of your practice, will need to be totaled. Additionally, the value of all intangible assets must be calculated. Goodwill is a common intangible asset that encompasses the practice’s brand name, patents, technology, customer base and relations.

What Is The Divorce Rate For Medical Professionals?

Divorce is a common occurrence as about half of all marriages end in divorce. But, medical professionals actually part ways with their partners at a lower rate. According to the National Institutes of Health, 22.1% of medical workers file for divorce during their marriage.

Why Do Most Doctors Get Divorced?

Various factors can cause married couples to drift apart and eventually file for divorce and medical workers are not exempt from this. For medical professionals, the most common reasons for divorce center around a work-life imbalance caused by working long hours and unending stress. These factors can seep into a marriage and quickly cause problems.

How Can A Doctor Protect Their Assets In Divorce?

Unless you have married another doctor or physician, your spouse will not be able to actually take control of your medical practice. However, if the business is marital property, they could receive a share of your medical practice’s value. To prevent a situation like this, doctors can establish prenuptial or postnuptial agreements to separate their business from the marital property. Beyond that, doctors can create a buy-sell agreement to make sure the medical practice is able to continue operating during the divorce.

Serving Medical Professionals With Passion

At Navarro Law Firm PLLC, we will tenaciously fight for the medical practice you have built. Contact attorney Dominique J. Navarro for urgent legal advocacy by calling 507-923-2190 or by emailing his staff.