What to expect when considering divorce

Physicians, dentists, lawyers, CPAs, architects and other private practice professionals in Arizona should seriously consider retaining specialized legal advice when evaluating or pursuing divorce.

Licensed professionals with substantial assets can place their business, future earning potential and financial security in jeopardy when ending a marriage without adequate consideration, planning and protection strategies.

A Professional Practice is a Community Asset
Under Arizona family law, a working professional’s practice is frequently deemed a “community asset” subject to ownership claims invoked by the opposing spouse. When the practice was launched and how it has performed financially during the marriage, will be key issues examined by the family court in evaluating any property settlement or spousal support award. Extraordinary evidence is typically required to completely take control of your private practice without any payment to your spouse for its present value. However, that is not to say that other strategies and tactics cannot be relied upon to advance your case in the most compelling light to maximize and protect what is rightfully yours during marital dissolution.

Considerations include:

  • Whether the business was formed before marriage or after
  • If one spouse supported the other through medical school or graduate school
  • Whether one spouse put a career on hold to support the other in building his or her practice
  • Trended earnings and capitalization of the practice over the past 12, 36 or 60 months

Complex Evaluations of the Business are Key

Private practice evaluations are material components of divorce litigation and unguided professionals often resist providing the financial information needed for an accurate evaluation.

 

There is a method to the madness, which can achieve you far greater results. Retaining Edwards & Cherney to guide your through this complex process can achieve results far in excess of any fees incurred if the issue is evaluated with sufficient time, care and planning.

 

Edwards & Cherney frequently brings in proven business valuation specialists, forensic accountants and third party investigators to help safeguard clients' financial interests whether they are owners, or the spouse of an owner, of a professional practice.


Choose Attorneys With Business Acumen

Our extensive business background and experience in the federal court system has proven to provide a critical edge for clients advancing their matters in Arizona Family Court. This is an edge that many other family attorneys simply do not have the experience or ability to provide.

 

Therefore whether you own, or are married to an owner of a medical doctor practice (with two or more practicing M.D. partners), alternative medicine practice, specialized physician, dentist, lawyer, attorney partnership, group practice, clinical practice, affiliated licensee, general or limited partnership, our firm is uniquely positioned to navigate you through the pre-filing strategy, evaluation, valuation and allocation during the marriage dissolution process

 

Edwards & Cherney Family Law will do everything it can to ensure your highest and best recovery during the dissolution phase.  Our efforts today can also materially impact financial payments made, or recovered, from your opposing spouse for years to come. In matters of great importance, successful litigants seek the seasoned guidance and counsel of those who have been through these issues time and again. Edwards & Cherney is here to be your strong and powerful legal counsel through this complex process.

 

 

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