Asset Protection for Doctors
Addressing the Complex Financial Issues that Affect Doctors and Their Families
Divorces in which one or both spouses are doctors often pose special challenges. Doctors generally have high incomes, but they also have complex financial realities that go with those incomes. From extensive student loan debt to professional practices that are difficult to value, it is critical that the divorcing spouses be represented by experienced and capable attorneys.
At my Cranston, Rhode Island, law practice, I have extensive experience representing doctors in divorces and other family law matters. I have helped my clients effectively navigate:
- Parenting plans for busy professionals and parents just returning to the workforce
- Division of complex marital property and debts
- Alimony payments (sometimes called spousal maintenance or spousal support)
- Other critical matters
When you contact The Law Office of William J. Balkun for a confidential consultation, I can talk with you about these matters in detail. We will discuss how the law may apply in your situation and the options you may pursue going forward. If you choose to retain me, I will work diligently to protect your family and your assets. I will even give you my personal cell phone number so that you can call me whenever you need help.
Division of Complex Property, Including Medical Practices
I have extensive experience representing clients whose divorces involve complex assets, including professional practices, retirement accounts and real estate. In these challenging cases, valuation of assets is an issue. It is often necessary to partner with professionals, including business valuation experts, forensic accountants and CPAs to make sure that my clients' interests are protected.
Child Support for Co-Parents With More Than $250,000 in Combined Income
In Rhode Island, the Child Support Guidelines outline payment amounts for families with $250,000 or less in combined income. Many doctors are high-income earners with incomes that exceed this limit. In these cases, it is necessary to deviate from the guidelines to make sure that the payment amount is fair.
Alimony for Spouses Who Have Been Out of the Workforce
Divorcing doctors face unique challenges, but so do their spouses. In many families, one spouse has sacrificed to support the career of the other. He or she has worked to pay the bills while the other spouse was in medical school or to supplement the family's income while that spouse was completing a residency. He or she then may have voluntarily left the workforce to raise children and may have been out of the workforce for many years.
When the divorce occurs, Rhode Island courts will often order the doctor to pay the stay-at-home spouse alimony. The alimony payments may be only temporary, until the spouse is able to join the workforce again. However, permanent alimony is awarded in some cases. In order for the terms of alimony payment to be fairly and effectively negotiated, it is best for both parties to be represented by legal counsel.
For Help With the Legal Issues You Face
For legal help regarding any of the issues mentioned here—or any other family law issues that you may face—please contact me online or call 401-463-5106. Consultations are private and confidential.
