Archive by Month: August 2017

What Busy Professionals Need to Know When Creating a Parenting Plan

By August 24, 2017 Articles

Busy professionals face unique challenges in a divorce. The legal proceedings related to a divorce often place added stress on an already overwhelming personal and professional life.

Creating a parenting plan requires the consideration of the best interests of children while accommodating the time, location, and financial concerns of each parent.

Busy professionals must understand the factors involved in creating parenting plans that serve the needs of the entire family while providing the resources that children need as they develop.

The following are the essentials that you need to know as you move through this process. You’ll create an effective parenting plan that supports you and your child’s long-term wellbeing.

The Right Parenting Plan

The right parenting plan provides the resources that your child needs when facing a divorce.

It outlines the terms that direct how the child will be raised, when the parents will have custody, how visitations will be carried out, and other aspects related to the family’s daily activities.

Parenting plans help everyone have a clear understanding of what’s to be expected as you move forward after your divorce.

But busy professionals may find it difficult to agree on terms that work for both parents. This makes the process more complex and requires the use of a skilled family law attorney who understands the unique needs of today’s professionals.

The child’s emotional and physical needs must be prioritized when developing a plan that affects his or her education, medical needs, religious upbringing, and other important factors.

The limitations that busy professionals have must also be integrated into the parenting plan to avoid unwanted issues down the line.

Creating a Flexible Parenting Plan

A flexible parenting plan can make it easier for parents to ensure that the needs of their children are met.

The needs of children evolve over time. As they socially mature, their relationships, educational needs, daily schedules, and location may change.

Busy professionals can consider creating a parenting plan that has a limited duration. Implementing a plan for a specific period of time allows you to have greater flexibility in revising that plan as the child’s needs change.

This accommodates changes in the parents’ living arrangements, work travel schedules, and other factors without disrupting the child’s lifestyle.

Legal Support for Busy Professionals

Regardless of the demands placed on busy professionals, all parents should be able to play an active role in the growth and development of their children after a divorce.

Maintaining visitation and custody schedules alongside busy work and travel schedules can impact the relationships within families. The right legal support helps busy professionals create parenting plans that work for everyone.

There are many parenting plan options that most parents aren’t aware of. Working with a family law attorney gives you the resources and options that meet your family’s needs.

Parenting plans for busy professionals must balance work responsibilities with the needs of each family member. But this can be difficult when you don’t know what options are available and how to develop an effective plan.

Disagreements between parents can further add to the complexity of this process, and the services provided by your family law attorney will prevent these and other obstacles.

The right parenting plan gives you the peace of mind in knowing that your child’s best interests and your professional needs will be met.

Parenting plans must be customized to each individual case. Taking this approach ensures that you can move on from your divorce while protecting the relationships within your entire family.

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What to Consider for Your Medical Practice in a Divorce

By August 17, 2017 Articles

Divorce requires you to consider many factors related to your personal and professional lives.

If you own a medical practice, the process becomes even more complex, as it may be considered a marital asset that’s subject to being divided between you and your spouse. 

Knowing what to consider for your medical practice in a divorce is the first step to protecting your financial wellbeing.

Medical Practices in Divorce

Medical professionals need legal resources that help them address unique factors that don’t apply to most individuals. 

If a medical practice is created within the period in which you were married, that business is viewed as a marital asset. As a result, the courts may require its valuation and division to be carried out as part of the divorce proceedings. 

Determining the market value of your practice as well as the ownership interest in its properties makes your divorce case even more complicated, lengthy, and costly. 

Without the right legal support, medical professionals can lose a significant amount of their business assets in addition to the costs associated with spousal payments and other agreements. 

Businesses that existed prior to the marriage may also be included in the divorce if there was any appreciation in value during the marriage period.

Divorce Strategies for Medical Professionals

Prenuptial agreements prevent many of the issues that put your practice’s assets at risk in a divorce. But if no agreement is in place, the individual who was not involved in the medical practice may seek spousal support in a divorce settlement. 

The amount of spousal maintenance that an individual may be entitled to depends on many factors. These include the duration of the marriage, the income generated by the medical practice and its managing spouse, and the ability of the stay-at-home spouse to obtain employment after a divorce. 

Medical professionals have a high level of demands placed on them through their work. This can make it difficult to achieve a divorce agreement that accommodates the needs and preferences of a spouse. 

Taking these factors into consideration is critical to establishing custody agreements and other aspects of your divorce settlement.

Dental Professionals and Divorce

Dental health professionals also have considerations that are unique to their practices in a divorce.

Spousal maintenance and the division of assets must also be considered as well as the division of income and outstanding debts related to their practices or education. 

A dental practice may also be subject to valuation and division, making the divorce process more complicated.

Attorneys who understand these and other factors can help dental professionals protect their practices and their assets. 

Dental practices are frequently sold. This factor may influence the valuation of the practice. The value may be higher than expected due to the different ways in which courts determine the value of a dental practice. 

Other factors such as goodwill and industry reputation may also impact the valuation of a dental practice. Patient relationships, insurance contracts, income, location, and assets may also be considered in the valuation and division of the dental practice. 

Business evaluations add to the cost of your divorce case. Working with a skilled attorney who understands the needs of medical and dental professionals can minimize your legal expenses and ensure that you achieve the outcome you want. 

By understanding the special considerations for a medical practice in a divorce, you protect your professional and personal future.

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