Professional Divorce in Atlanta
No matter the situation, divorce is a difficult process to endure and can often be very contentious. However, for certain professionals, it can be even more challenging to deal with because of what are often complex issues surrounding their increased wages. With increased wages, often comes increased assets to protect or which may be subject to equitable division in a divorce.
Professionals with licenses face a different level of legal complexities because of the matters involved. It's important for you to recognize the potential positions that can be affected by a divorce, as well as the problems that can arise involving property division, assets, and other issues involving professionals. We'll also explain why it's necessary to have skilled legal counsel on your side throughout the entire process.
Which Professionals are Affected?
Typically, professionals are considered those with a higher level of education or who have a license from the state where they practice for their occupation. For instance, the list of professionals includes, but is not limited to:
- Doctors and other medical professionals
- Business executives
The biggest issue concerning divorces involving professionals is that one spouse is typically the primary wage earner, earning significantly more than the other. This is brought into question during the property division and alimony phases, making for additional considerations by the court. Even those who teach or practice as a massage therapist may be considered professionals because of the licensing they may need to acquire.
If you are a professional or the spouse of a professional in a divorce, it's crucial to recognize your rights regarding what the court can consider when looking into your overall value.
What Does the Court Consider?
Working with a lawyer can help you understand your rights moving forward as the court tries to determine the options available to you and your spouse. Some of the things that may be considered include the following:
● Income trends: Certain occupations are affected by income trends as more money can be made in the future. If the court determines that you or your spouse are expected to receive an increase in income over the coming years, this may factor into support and division orders made by the court.
● Market conditions: There are some situations where the market can change and lower the potential income of the professional. This can also impact support and property division orders, but it requires expert help by people in that profession to determine how market conditions can change.
● Valuation of license: One thing that must be considered is the actual value of the license and how it plays a role in the divorce. In some cases, it may not play a role at all. In other situations, though, this can impact how much the professional pays or receives in court orders.
In many cases, it's necessary to speak with experts in the field of the professional to determine what market conditions and income trends have looked like in the past and what they could be moving forward. The expert can explain the valuation of the professional license and how it connects to the potential child support, alimony, and property division orders of the court.
Why is it Necessary to Hire Legal Counsel?
Many professionals are unsure of the legal matters that can impact their divorce. They also lack some of the resources they need to get a clear and concise understanding of their license value. This can lead to small mistakes and costly decisions. Speaking with a legal professional can help you with understanding the value of your license and what the court can consider marital property in these situations.
You need certain market analysts who can attest to your overall value, but we'll help you access these professionals to get you through the process of divorce without concern. You may need other experts that can come in and provide testimony should your spouse try to contest any aspect of your reported assets.
In some cases, if you're the non-professional spouse, your significant other may try to hide the valuation of their license. You need legal help uncovering all important information regarding your spouse's income to ensure fair division of property.
Atlanta Family Law Group LLC is Here to Help
No matter your status in the world, going through a divorce is never easy. There are many things the court will take into consideration and you want to be sure you're walking away with your rights and interests intact, especially if the divorce is contentious.
At Atlanta Family Law Group LLC, our Atlanta professional divorce lawyers are compassionate about your situation, but aggressive when you need it most. We'll look into the most effective ways of protecting your assets throughout the process and giving you peace of mind. Trust in our team to be your partners throughout this entire process.
Call our firm to discuss your potential case and learn how we may be able to help you through a professional divorce.