Divorce & Professional Practices

Divorce Attorney for Professionals and Their Spouses

Though professional practices are similar to small businesses in many ways, they also have some unique characteristics. When a practicing professional is involved in a divorce, both sides must address some particularly complicated issues.

At the Law Office of Cecil & Cianci, PC, we counsel professionals and their spouses on the implications of California divorce and community property laws for professional practices. Contact us to schedule a consultation with a knowledgeable family law attorney.

Valuing Goodwill and Other Assets of the Practice

For many professional practices, the main factor in the valuation of the business is goodwill or the value of the practice's reputation and base of existing clients. Valuing goodwill is obviously more complicated than valuing real estate or equipment. At our law firm we work with credible experts to establish the value of professional practices such as:

  • Physician offices
  • Dental offices
  • Veterinary clinics
  • CPAs or accounting firms
  • Law firms
  • Architectural firms
  • Engineering firms

The date on which a professional practice is valued can be extremely important to both the business interests of the professional and the community property interests of the spouse. We are highly attentive to this issue.

In many cases, professionals practice in a variety of different business entities over the course of their careers. For instance, a partnership may be formed or broken up, or a practice may be reorganized in order to take advantage of limited liability protections. We have experience in examining the extent to which goodwill has transferred from one entity to another.

Assessing Community Interests in Professional Qualifications

Another major issue when it comes to the impact of divorce on professional practices is the degree to which the value of the practice is divisible as community property. Obviously, a professional degree cannot be divided. However, if the spouse contributed to the cost of an education (including the cost of living), he or she deserves a fair return on that investment.

Aggressive Pursuit of Your Family Law Goals

Every case is unique and there are no generalities to rely on regarding these issues. Contact our Roseville law firm to have a knowledgeable divorce lawyer take a close look at your situation and advise you on your options. Call 916-756-4012 today.