We at K. Dean Kantaras P.A. are thinking of you and your families in these uncertain times and we want you to know that the health and safety of our clients and our surrounding communities is extremely important to us. We are closely monitoring the current situation related to COVID-19 and we want to be here to assist you in any way that we can. Stay safe and healthy!

Protecting Your Professional Practice During Divorce

Doctors, lawyers, accountants, dentists and other professionals invest many years of education and hard work in their practices. If you divorce, however, your professional practice could be in jeopardy if a court decides that it is martial property. Even if you owned your practice before your marriage, some portion of the practice could be marital property if its value increased during the marriage or if you spent money on it during the marriage.

A prenuptial or postnuptial agreement can help you avoid uncertainty about the future of your professional practice. Even in the absence of a marital contract, however, you still may be able to preserve your practice.

Even though Florida is an equitable distribution state, the courts recognize that some situations justify awarding a greater share of the assets to one of the divorcing spouses. One of several factors that can justify an unequal distribution of assets is the desirability of keeping a professional practice intact and free from claims by the other party.

When your professional practice is at risk, a lot is riding on your divorce settlement. Consult a knowledgeable Tampa divorce attorney to learn more about protecting your professional practice in the event of divorce.

Categories