Men in New Jersey often have a tough go when it comes to divorce and other family law cases. They’ve traditionally paid more alimony, had less favorable custody arrangements, and been more likely to pay child support than women.
When a New Jersey male physician divorces, he must contend with these issues and much more. Being a high earner, there are certain considerations during the division of your assets. You may also own your own practice, which must be properly valued to ensure a fair divorce. In addition, physician fathers may have to fight against a judge’s assumption that they are too busy to share custody of their child.
High Income and the Division of Assets
If you’re a husband and a doctor, it’s quite likely you’re the higher earner in your marriage. While it’s possible your spouse was also in a professional career (as a doctor, lawyer, or another high earning job), that’s not often the case. Your spouse may even be a part-time worker or a homemaker without a steady income of her own. In addition, if you’ve been a doctor for a while, you may have acquired pre-marital assets that should be kept separate from your divorce agreement.
If you believe your spouse may have an unrealistic view of your marital assets, you’ll definitely need to work with a New Jersey attorney for physicians to keep things fair during mediation and in court. Your lawyer will help you collect evidence of your assets, your financial contributions to the marriage, and more. He will also help you obtain an accurate valuation of your practice, if applicable. This is considered an asset during your divorce and its value will have to be considered during negotiations.
Is Spousal Support A Possibility?
Many male physicians assume they will be forced to pay alimony, AKA spousal support, to their spouse for years to come. If your wife was a stay-at-home mom or gave up her career plans to help you get through medical school, she may not be able to reenter the workforce immediately following your divorce. Spousal support is meant to help the lower-earning spouse return to their field and realize their earning potential. It is generally a temporary solution; temporary alimony is much more common in 2021 than “permanent” or long-term alimony.
If you’d prefer not to pay spousal support, your attorney for male physicians may be able to successfully negotiate for a lump sum or other assets instead. Though you cannot overlook the facts of your high income and how it will affect your finances during the divorce, you do have options.
Divorce for New Jersey Physician Dads
Most dads want the best for their children, and experts believe this means your child should maintain a relationship with both of his parents. Some moms believe they should be entitled to more time with their child because they were the one to give birth. Luckily, the family law courts in New Jersey don’t often agree with this assessment.
Studies have shown that children benefit from a close relationship with both parents, which means you have a better shot at receiving joint custody of your child. Many judges have also come to realize that being a mother is about more than giving birth; some mothers are not equipped to raise a child, even part time. If you believe your child would be better off in your sole custody, our lawyers for doctor dads can help you draft a proposed custody arrangement that will please the court.
Divorcing as a male physician certainly has its challenges, but don’t let fear of a difficult divorce keep you in an unhappy marriage. The Micklin Law Group’s divorce attorneys for physician men are here to help you get through this difficult time in your life. Give our team a call at 973-562-0100 to schedule a consultation with our experienced family law attorneys for men.