In Maryland, any property that was acquired by either spouse during their marriage is presumed to be marital property. Pre-marital property, gifts, inheritances, and property that can be traced to such assets are not considered marital property and therefore are not subject to division in divorce cases under Maryland law. Dentists, doctors, and other medical professionals of any discipline who own a practice outright or are a partner, shareholder, and/or a member of a larger practice should be very vigilant in protecting their rights and choosing an attorney that is well versed in divorces that include dealing with dental and medical practices as marital property.
One of the reasons for the complexity of these types of divorces is that a medical or dental practice is usually established and structured before anyone even contemplated a divorce. Through proper planning, documents, and agreements that anticipate a potential future divorce, you can minimize your risks and make matters less complicated; however, even in those situations the valuation of a medical professional’s practice can be a difficult task. It is not uncommon for divorcing couples to decide the division of their assets with the assistance of their respective attorneys rather than litigating a divorce case and leaving it to the court’s decision. But if you are not able to reach an agreement, you can ask the court to resolve the dispute between you and spouse.
My background and experiences in representing clients in both family law and medical and dental transitions have assisted me in being particularly effective in handling divorce cases that involve equitable division of dental and medical practices. These clients range from dentists, physicians, other medical professionals, or their spouses who are considering a divorce and/or a custody case.
For additional information and more in depth discussion of medical & dental practices in Maryland divorce cases please read our new article after reading this article at Maryland Divorce for Physicians & Dentists Who Own Practices – Kamkari Law
A. Shane Kamkari, Esq.
ask@kamkarilaw.com
301-309-9002
Divorce lawyer for doctors, divorce attorney for dentists
