Orange County Medical Professionals Divorce Lawyer

If you are a medical professional looking for guidance and understanding as you pursue a divorce, hiring an Orange County medical professional’s divorce lawyer can be both incredibly beneficial and monumentally helpful. Not only can you avoid unwanted confusion, but you can also receive the support and insight you need to work toward accomplishing your desired outcomes. 

In one study, it was estimated that physicians have a divorce rate of 24.3%. Nursing is one of the fields with the highest divorce rates, and was recently determined to have a divorce rate of about 47%. With the high-intensity and fast-paced nature of working in the medical field, you deserve someone equally capable of helping you navigate the complex world of legal divorce proceedings.

When you get divorced in the Golden State, property division is one of the things you will need to sort out before the court will finalize your divorce. There are two types of property: community and separate. 

In accordance with California Code, Family Code – FAM § 2550, also known as the “50/50 law”, all community property will be divided evenly between both spouses in the event of a divorce. This includes all of the property, assets, and debts that you and/or your spouse have acquired over the course of your marriage. 

Simply put, everything that a couple owns or owes, unless specifically set apart by prenuptial and/or post-nuptial agreements, is legally required to be divided in half in the event of a divorce.

The second type of property is separate property, which, in accordance with California Code, Family Code – FAM § 770, includes everything that belonged to you before you got married. 

This label can apply to the same kinds of property that community property does, like your assets, debts, inheritance, businesses, and more. Prenuptial or post-nuptial agreements are one of the ways you may be able to set property aside even while you are married.

There are several ways that getting a divorce as a medical professional may uniquely influence your property division proceedings in the state of California, including the following examples:

• Owning a joint medical practice. If you and your spouse share the ownership of a medical practice—or if you alone own it but started your practice during the time you were married—both spouses will most likely be entitled to half of the company. If the practice existed before the marriage, its value at the time of marriage is considered separate property, but any increase in its value during your marriage will most likely be viewed as community property.
• The valuation process. If you own a medical practice, the valuation process can be incredibly complex, and it often involves in-depth evaluations to be performed in order to determine its fair value for division. This means that you will have to navigate yet another intense and confusing step in your divorce process, but it may be made easier with the help of a knowledgeable divorce lawyer.