DuPage County Divorce Attorneys for Doctors

Financial Issues for Doctors in Divorce Cases

There are a variety of financial factors that medical professionals will need to address during divorce proceedings. Since a doctor may earn a higher income than their spouse, they may be asked to pay spousal maintenance. This form of support is meant to ensure that both spouses can maintain the standard of living they enjoyed during their marriage. However, the income a person earns may not be the only factor considered in these cases. If a doctor has significant student loans after attending medical school, as well as other financial obligations, these issues should be considered when determining whether spousal support will be appropriate. In some cases, financial issues may be addressed during the property division process to ensure that both spouses will have the resources they need to support themselves.

Doctors who own medical practices may also need to determine how ownership of these assets will be handled in their divorce. A medical practice will be considered a marital asset if it was founded after a couple was married, and it may be the primary source of income for one or both spouses. The value of a practice may not only be based on its assets, liabilities, and revenue, but goodwill may also need to be considered. A doctor's reputation in the community and their relationships with patients may be key aspects of the value of their practice, and maintaining ownership of the practice may be crucial to ensure that they will be able to continue providing medical services to patients. A couple may need to determine how to divide their marital assets in a way that will allow for sole ownership or continued co-ownership of a medical practice.

Child Custody Issues That May Affect Doctors

When addressing issues related to their children during the divorce process, a doctor may need to determine how their work schedules will affect their ability to spend time with their children. Many doctors work irregular hours or must be on call in emergency situations. When creating child custody agreements, doctors and their spouses may need to account for these issues and prepare to respond to situations where parenting time schedules may need to change unexpectedly. Parents may agree on how schedule adjustments may be handled, such as making arrangements for childcare when a parent is unavailable or planning for makeup time with children if a doctor's duties prevent them from following the planned schedule.

Contact Our DuPage County Divorce Lawyers for Doctors

Doctors and their spouses may need to address a variety of concerns during the divorce process, but by working with a legal professional, they can find solutions that will fit their unique situations. Our attorneys can provide strong and effective representation in these cases, and we will fight to protect your rights and help you resolve any disputes related to your finances or your children. Contact our firm at 630-909-9114 to get the legal help you need during your divorce. We represent clients in DuPage County, Cook County, Will County, and Kane County.