I know what you’re thinking…I have completed so much training, incurred so much debt having to do so, have accumulated less wealth for my age due to the fact I had to go through so much training, and now I have a looming divorce! What does this mean for my future?
Getting a Utah divorce attorney for doctors that understand your rights is paramount to protecting yourself and your future. Divorce can take a significant toll on husbands/fathers or wives/mothers, especially those who have a demanding job as a doctor. Doctors have equal concern over what will happen to their children, how custody will work, if they will be able to see their children regularly (especially with their demanding schedules), or how their finances will be impacted if they pay alimony, child support and/or childcare. It is distressing for doctors to worry about their livelihood and how a separation will impact other important aspects of their lives.
Whether you are going through a divorce in medical school, residency, fellowship and/or post-training, ensure you are protected by hiring an attorney that understands the law and/or the process of what you are going through. Jill Coil of CoilLaw LLC is a family attorney in Sandy Utah whose husband is a doctor. Therefore, she understands the process, the time commitment, and all aspects to ensure that she protects your rights.
Protecting Your Financial Assets
Many Doctors struggle with how they are going to manage alimony, child support, and the division of their property, all of which can be especially hard if the doctor was the primary monetary provider for their home. It can be frustrating to think that your hard-earned possessions and income could be divided, but hiring a legal professional with extensive experience in these areas of divorce will be vital to a favorable outcome.
Alimony refers to court-mandated payments to your spouse. Alimony is intended to help the more financially disadvantaged partner obtain a manageable lifestyle. Alimony is based on of three factors:
- the person with the higher income’s ability to pay
- the other spouse’s ability to work and
- that spouse’s reasonable and necessary need.
Alimony payments may last as long as the number of years of the marriage but this has become the unlikely favor. Remember, alimony is tax-deductible to the one who is paying and terminates if your ex-spouse remarries, cohabitates, or dies.
Likewise, child support is a payment determined by the court to assist in the raising of children who are below the age of 18. Child support is determined by a Utah-decided base payment for each child in addition to other considerations such as medical expenses, mental illness, and childcare. Child support is also determined by custody arrangements or literally how many overnights do you have your children per year.
Division of Property
Another financial matter that causes a fair amount of stress for doctors in a divorce is the division of property, such as a home, retirement account, investment funds, vehicles, and much more. In Utah, which is known as an equitable distribution state, property isn’t necessarily divided evenly, but rather “fairly”, according to the dictates of a judge. Factors that play into the fairness of property division include:
- Financial needs of both partners
- How long the marriage lasted
- Age of both partners
- Health of both partners
- Income contributions to the marriage
- Any prenuptial agreements
These financial payments and arrangements brought on by divorce is reason enough to hire a competent divorce attorney. Alimony payments can be frustrating, as they consume a large portion of your check every month, but there are legal ways you wouldn’t otherwise know that can mitigate this expense. Doctors are generally not opposed to supporting their children, but hiring a lawyer can help them do it as close to their own terms as possible. The factors that go into deciding division of property can be complicated, leaving you with a less desirable outcome unless you have legal counsel. A divorce lawyer is one of the only ways to ensure that your assets will remain protected and the required monetary support is aligned with your terms.
There are varying perspectives divorcing doctors take when it comes to custody of their children, but most doctors (even with a demanding schedule) still desire some sort of custody rights to have a say in how their children are raised. Loving parents who want to be involved in their children’s lives after a divorce will have a better chance of this if they hire a good divorce attorney, as an attorney will be able to gather evidence for the court that demonstrates the following in their favors:
- They act in their children’s best interest and can provide a stable living for them
- They have had a solid relationship with each of their children before the divorce
- They have participated in the rearing of the minor children more than just monetarily providing for them
A Divorce Attorney for Doctors in Utah
Doctors have an equally challenging time as anyone when it comes to feelings of frustration, discouragement, and concern for their financial status after a divorce. To help you achieve the best results and ensure a brighter future, contact Jill Coil, at CoilLaw, LLC (801) 980-3359 to represent you in your Utah divorce.