If you have a medical practice, divorce can be a frightening prospect. After all, Florida requires you to divide your marital property and assets in an equitable manner, so will your spouse get half of your practice? Will you have to sell the business you worked so hard to build?
The good news is that divorce does not have to ruin your medical practice. The law recognizes that all property cannot simply be split down the middle, so there are other options.
Your Practice as Marital Property
You might assume that since your spouse is not a doctor and does not work at your practice, you should simply be able to keep the business outright. However, the law considers business interests to be marital property. The following is considered marital property:
- If you started it during the marriage, your entire business is marital property
- If you started the practice before marriage, any increase in value since you got married is marital property
It is likely that at least some of your practice will be considered for property distribution, and it is important to know this exact value.
Know Your Options
An experienced Boca Raton divorce attorney can advise you of possible options for the division of property. For example, your spouse might get the house while you keep your business, if this is fair under the circumstances. You can also relinquish a larger part of your assets to your spouse in order to keep your business intact. Rarely will a court order you to dissolve your medical practice in your divorce.
Speak with a Boca Raton Divorce Lawyer Today
If you are getting divorced, you want the law firm of Juliana Gaita, P.A., on your side. Our Boca Raton divorce attorney handles complex cases, so please contact us online or call 561.944.7245 today.