Working dentists may have substantial assets and income to worry about when navigating a Long Island divorce. Dental professionals often operate private practices or own shares in group practices, and both of these situations require careful handling and planning. When you have income, business assets, and the future of your career on the line, legal guidance is crucial. The high-asset divorce attorneys at Petroske Riezenman & Meyers, PC, are here to help you through this difficult time.
The team of six family law attorneys at Petroske Riezenman & Meyers, PC has built a strong reputation on Long Island, supporting the medical professionals and business owners that keep the community running. With almost one hundred years of legal practice among the six lawyers at the firm, our team can handle even the most complex divorce cases Long Island has to offer.
Whether you’re looking for representation in Suffolk County or Nassau County, we have an office near you. Our Suffolk County office is located in Hauppaugein the Russell Carroll Matrix Corporate Center on Veterans Memorial Highway, just north of the Long Island Expressway. If you’re looking for assistance in Nassau County, you can visit ourGarden City office on Franklin Avenue. Our Nassau County office is conveniently located near the Nassau Matrimonial Court. Ready to schedule your consultation? Call us at 631-337-1977 now.
– “Attorney Mike Meyers was a calm voice of reason when there was contention and offered great solutions to seemingly impossible situations. I recommend him as a highly skilled, compassionate, and intelligent divorce attorney. If you want excellent representation from a lawyer who cares about you and your family as people, I recommend Attorney Mike.”
The Financial Complexities of Divorces Involving Dentists
Divorces involving dentists often involve complicated financial considerations. You still have the traditional marital assets, such as homes, retirement accounts, and investments. However, if a dentist owns a professional practice or owns part of a professional practice with a group, those assets may make up a significant part of the marital estate.
Additionally, dental practices often include valuable medical property and equipment, long-term revenue streams, and real estate. Assets like this often require expert valuation to determine how they are to be handled during the divorce process.
Valuing and Dividing a Dental Practice
One complex aspect of a dentist’s divorce is deciding how to treat the dental practice itself. Even if the dental practice was established before marriage, any expansion of the practice or support from the other spouse may mean that the practice is subject to equitable distribution as required by New York law.
Valuing a dental practice involves looking at numerous factors, including the practice’s income history, overall reputation on Long Island, patient base, and business goodwill. You’ll likely want to avoid disrupting the dental practice’s daily operations, which may mean that instead of dividing the dental practice itself, you offset one spouse’s share with other assets that are easier to divide.
Professional Income and Spousal Support
When one spouse works in the medical field, there may be a substantial difference in the spouses’ incomes, and that means spousal support is often a factor in Long Island dentists’ divorce cases. Courts look at factors like each party’s income and earning capacity, the length of the marriage, and contributions made to the marriage.
If your income fluctuates, as is common for dentists who own their own practice, this may affect your spousal support calculations and obligations.
Parenting Responsibilities and Custody Concerns
While dentists typically enjoy more routine, predictable schedules than other medical professionals, running a dental clinic as a dentist is still a significant time commitment that may affect parenting time division. This is particularly true for dentists who are in the early stages of their private practice, as this means they may take on administrative and business operations.
The court will work toward a parenting arrangement that serves the best interests of the child but accounts for the dentist’s work schedule.
Nassau County Divorces for Dentists
Dentists working and living in Nassau County may file their divorce case in Nassau Family Court, located in Mineola. Dentists working in communities like Garden City, Great Neck, and Hempstead may turn to our firm for experienced representation and in-depth knowledge of New York divorce laws and Nassau County court protocols.
Divorce for Dentists in Suffolk County
Dentists seeking divorce in Suffolk County may file in one of the county’s two courts, found in central Islip and Riverhead. Our team knows court procedures, staff members, and legal professionals well, allowing us to represent you efficiently throughout your divorce.
Contact Our Asset Division and Divorce Lawyers in New York As Soon As Possible
When you’re ready to move forward with your Long Island divorce, your next step is a consultation with our team. You cancontact us online, call our divorce law firm at 631-337-1977 or 516-699-1989 to discuss your needs in greater detail with our team.