Am I entitled to any of my ex husband's medical practice?

Question

My husband joined a medical practice with 1 other physician several months prior to our marriage. However, he paid thousands and thousands of dollars into the practice to become a full partner after we were married. Am I entitled to any amount of his medical practice or partnership? We have been married  18 years

Marshal Willick · Answer

Short version, yes.  If accrued (asset or its value) during the marriage, it is an asset divisible upon divorce.

Theodore Buselmeier · Answer

Yes. It is likely that much of the practice value is martial property and therefore subject to property division. The valuation of a business is very complex and we would likely hire a valuation expert to assist us in determining value. You would be compensated for your martial portion of the value.  It is a much more complex analysis than I can explain in this format.

John Kirchner · Answer

His medical practice was built during the marriage, so your husband's ownership share value will be considered marital property.  You are entitled to a fair share of the marital property, but how that share is awarded involves more information and understanding of the overall financial picture.   Valuation of a professional practice is a complex and difficult process so you need to retain an attorney to represent you in a divorce.

Michael D. Fluke · Answer

I believe you may be entitled to half of the value of his share if he bought in after marriage.  This may not be practical and may be better converted into alimony.  I suggest you consult with an experienced Family Law attorney to discuss your case in greater detail and learn all of your rights and options.  Good luck.

Michelle Fitzgerald · Answer

Yes, most likely 50% in Wisconsin.  A valuation would have to be done to determine the value of the practice.

Glen Edward Ashman · Answer

Probably yes, and you should immediately seek legal counsel.

Joanna Mitchell · Answer

Yes, you have an interest. You need to consult with an attorney.

Mandy McKellar · Answer

Yes you do and will have a community interest in the medical practice. This is something that usually requires and expert to complete a valuation of the business.

Brook Goddard · Answer

You may very well have a community property interest in the medical practice, given that community funds were used to "buy in" to the practice.  Property characterization issues (i.e. between separate and community property) can be complicated and require greater fact gathering and analysis than the information you've provided thus far.

Seth Schraier · Answer

With respect to distribution of business interests and enhanced earning capacity, as of late, the courts have focused on the degree to which the non-titled spouses efforts contributed toward the acquisition of each specific asset.  In the past, the non-titled spouses contributions to the other partys business, career or degree, usually resulted in equal distribution of those assets.  However, the recent trend in court decisions has been to grant the non-titled spouse less than one half of the asset. The courts have described their reasoning as follows: [a]lthough in a marriage of long duration, where both parties have made significant contributions to the marriage, a division of marital assets should be made as equal as possible.There is no requirement that the distribution of each item of marital property be made on an equal basis.

Vincent Bernabei · Answer

Yes.  The value of his interest in the medical practice is probably going to be divided equally if you have an attorney to represent you.

Andrew Teitelman · Answer

You most certainly are.  The practice's value increased during your marriage.  You are entitled to a portion of your husband's share.  It would be best to consult an attorney regarding these issues.

Gary Moore · Answer

The precise facts of the joining of the practice and the payment of funds is critical to the answer to your question. You might be so entitled.

Mark Brown · Answer

Under Washington state community property law, you have a community interest in the medical practice.  You should consult with a family law specialist in the county win which you reside.

Alfred Fahlen · Answer

Based on the facts you have declared, the COMMUNITY has in fact obtained an economic interest in the medical practice.  In fact it appears that MOST of the value is COMMUNITY PROPERTY.  We can form a specific legal opinion once the partnership agreement is reviewed, and the evidence to support the financial contributions during the marriage.  When you are dealing with fragile economic issues, competent legal representation should always be sought, as the subject matter of the litigation is so very important.

Benjamin Lieberman · Answer

Yes.  The increase in value of the partnership during the marriage is a martial asset, which is subject to "equitable distribution" in Utah. Martial assets are typically divided equally unless there is a very compelling reason not to divide them equally - something exceptional. Frequently with a professional practice, it will be valued by an appraiser, and the owner of the practice will be required to pay the spouse 50% of the value of the practice.

Jane Ginsburg · Answer

Normally, assets acquired during a marriage belong to the "community" and those assets need to be divided in the dissolution. The determination of the community's interest in professional practice, such as a medical or law practice, after a long-term marriage can be a very complicated process, including the valuation of the practiceoften done by accountants with expertise in this area.

Glenn Tanner · Answer

You ask a very important question and it needs thorough analysis. There is an issue of separate and community characerization. This is well worth exploring with an attorney and cannot be adequately answered in this method. In any case, all community and separate property is before the court for division. There are lots of reasons why you want property to be characterized as community and there are plenty of reasons some or all of the practice, including its good will, may be community. See an attorney now.

Jay Neff · Answer

The statute says that the court is to make a fair and equitable division of all of the property.  There are a number of factors that the court is supposed to consider in reaching that division.  If the court is going to divide the property, it first has to classify it.  All of the property is going to be classified as your separate property, his separate property, or community property.  Which of these classifications a particular piece of property falls into will depend on how and when the property was obtained.  In most cases, property obtained during the marriage will be community property.  Once the property is classified, how it gets divided will depend on a number of factors.  Some of the factors that the court may consider are:  the duration of the marriage, the ages of the parties, the health of the parties, the educational background of the parties, the employment history of the parties, and each party's future prospects.  The court then has to come up with what the court believes is a fair and equitable division of all of the property using these and other factors.  Now, if there is enough community property so that the court can come up with a fair division using just the community property, the court will generally do that.  However, if there is not enough community property for the court to reach what it believes is a fair division, then, it can invade separate property.  Now, it may turn out that you have some sort of lien or ownership interest in the medical practice.  However, without a lot more information, it is impossible for me to say what that interest might be.  If you do have an interest in the practice, then, he is likely to have to buy out your interest

Neil Kerstein · Answer

Your husband's interest in his medical practice is an asset of the marriage and you are entitled to an interest if you choose to file for divorce.

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