Huffman, TX, Divorce Attorney for Dentists
Divorce is complicated, emotional, and expensive. The court quantifies your relationship and career to the dollar. This can make it confusing to navigate the divorce process on your own. For dentists and their spouses, there are other things to consider as well.
How Divorce Impacts Your Dental Practice
While one’s occupation typically plays a minor role in divorce proceedings, dentists face distinct challenges due to the demands of their profession, including long hours, high stress levels, and substantial student loan debts, all factors contributing to higher divorce rates within the field.
In divorce cases, your dental practice may be subject to equitable distribution. Texas follows common property laws, meaning assets are divided based on common and separate property in divorce. Even if you established your practice before marriage, it could still be subject to equitable distribution.
Types of Property
- Joint Property: Assets acquired or owned jointly during the marriage, including practice earnings and retirement funds accumulated during this time, are considered communal property.
- Separate Property: Assets owned individually before marriage or acquired post-divorce, as well as those inherited or gifted to one spouse, remain separate property and are not subject to division in divorce proceedings.
Are you looking for legal advice related to a dental divorce? Don’t hesitate to contact the Law Office of Bryan Fagan, PLLC today. Our attorneys can help you understand what you may be entitled to and help you protect your hard-earned assets. Call us at (281) 810-9760.
Dividing a Dental Practice in Divorce
Dental practices undergo equitable division in divorce, potentially entitling your spouse to practice earnings and retirement plans, even if the practice was established pre-marriage. The practice’s value is a crucial consideration, determined through a business valuation assessing tangible and intangible assets.
Defining goodwill, particularly in relation to referral business and reputation, presents challenges in valuing a dental practice. If the practice’s value relies solely on the quality of care provided rather than the dentist’s reputation, the goodwill’s value could be higher.
Protect Your Dental Practice with Our Help
If you’re a dentist navigating divorce or the spouse seeking clarity on entitlements, contact the Law Office of Bryan Fagan, PLLC. Our attorneys offer the expertise you require, backed by accreditation from the Better Business Bureau. Attorney Fagan’s membership in the College of the State Bar of Texas underscores our commitment to providing reliable legal counsel. Schedule a consultation with the Law Office of Bryan Fagan, PLLC, today, and let us handle your case with the utmost care and respect it deserves.
Visit us online to schedule an appointment or call us at (281) 810-9760 to find out more.
