Divorce for Professionals and Their Spouses
Doctors, dentists, therapists, lawyers, engineers, accountants, investment brokers and financial advisers, architects and other professionals often own or jointly own a practice. When marital property is valued and divided in a divorce, the professional’s spouse may have rights to a portion of the practice’s value. Obviously, there are many factors that go into this issue. It is crucial that your legal counsel has a comprehensive understanding of these factors while working to protect your financial future.
At Shimalla, Wechsler, Lepp & D’Onofrio, LLP, our attorneys understand these issues. Whether you are a professional or the spouse of a professional, you can rely on our dedication and support at each step of the process.
Representing Professionals and Their Spouses In Divorce
In New Jersey, the marital estate is divided by equitable distribution, which means a distribution that is fair to each party. It is not unusual for spouses to have very different opinions of what is fair. Consequently, enlisting experts to establish the practice’s value is a major step. Furthermore, as nonprofessionals cannot share ownership in a professional practice, the nonprofessional spouse must be compensated with other marital assets.
Our attorneys have the knowledge and experience necessary to represent you during a complex financial divorce, including:
- Valuing the practice
- Determining how to compensate the professional’s spouse for his or her interest in that value
- Working out spousal support that is fair to each party
In some cases, a prenuptial agreements may control how to divide marital property. In every case, our attorneys are prepared to closely analyze the facts of your case and advance toward a positive resolution.
Contact Shimalla, Wechsler, Lepp & D’Onofrio, LLP
Please call our office today at 908-922-4238 to arrange an appointment with one of our divorce attorneys who serve Middlesex, Somerset, Hunterdon,
Warren, Union, Morris, Monmouth, Mercer, and Essex counties, and beyond. You may also contact us online.