Professional degrees hold value and are relevant in any divorce case. Whether you or your spouse is a doctor, dentist, or otherwise professionally licensed, you will want to know how this affects the divorce outcome.
Our attorneys at Charlotte Christian Law have seen firsthand how professional degrees can affect spousal support, asset division, and other aspects of the divorce process. As a result, our Athens divorce for professionals lawyers are committed to fighting for fair divorce settlements for our clients while providing an outstanding level of care.
What Is a Professional Degree Worth in Divorce?
Holding a professional degree generally increases the holder’s earning capacity and employment opportunities, compared to not having one. Therefore, it has value in the divorce proceedings, and you will want to understand how much it’s worth.
Although there is no specific calculation for valuing a professional degree, the court does consider certain factors when determining how it impacts the divorce. Some factors that may be considered are:
- Current occupation
- Length of employment
- Current market conditions
- Earning potential
- Vocational skills
- Future property ownership capacity
A court might even request the help of a vocational specialist to properly valuate the degree. Because the court has complete discretion on determining this information, many professionals recruit the help of divorce lawyers to advocate on their behalf to the court to get a fair settlement. Our team can do this for you.
For a free legal consultation with a divorce for professionals lawyer serving Athens, call (256) 859-7277
Is a Professional Degree an Asset in Divorce?
A professional degree is not a tangible asset in a divorce case. However, any professional practices or partnerships associated with the profession could be. Alabama is an equitable distribution state under AL Code § 30-2-51. So, all assets and debts will be divided equitably. The court will consider the professional degree and how it affected the marriage to aid the division.
This distribution is not always fair, though. One of our divorce attorneys can represent you and protect your assets in a divorce.
Athens Divorce for Professionals Lawyer Near Me(256) 859-7277
How a Professional Degree Could Affect Your Divorce?
Earning a professional degree can change the dynamic of a couple’s financial circumstances. In some cases, this can cause an economic imbalance that must be addressed to reach a fair settlement for all parties.
In addition, evaluating how the degree has impacted the marriage informs decisions on important settlement terms. These can include spousal support, asset division, and child support. Two key factors that are evaluated are student loan debt and spousal contributions.
Student Loan Debt
Did you or your spouse accrue student loan debt for this degree? If so, the court will have to rule on whether the debt will be considered marital or nonmarital property. For example, if the court rules that it’s nonmarital, the debt holder will be solely responsible. If not, the opposite is true.
A non-professional spouse’s contributions to the degree (like staying home to provide childcare, offering financial support, or putting career goals on hold) can be used to determine asset division.
For instance, if the non-professional spouse was unemployed or a homemaker, the court may award alimony or a higher percentage of the marital property. Therefore, you should disclose all relevant information about your situation. This can help you reach a settlement that makes sense for your family. One of our divorce lawyers can help you make sure all of your contributions are accounted for.
How does Equitable Distribution Work?
Your assets and debts will be divided in the most equitable way for both parties. But rather than a flat-out 50-50 split, the court will consider certain marital factors in this determination. These factors may include, but aren’t limited to:
- Future earning capacity of each spouse
- Standard of living during the marriage
- Age and health of each spouse
- Length of the marriage
- Spousal contributions to education or earning power of the other
- Living arrangements for any children
Our team of lawyers can help you navigate the distribution process and protect your assets.
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Benefits of Hiring a Divorce for Professionals Lawyer Serving Athens
Divorce can be a tricky process, made trickier with a professional degree. At Charlotte Christian Law, we help simplify things for our clients by providing caring, compassionate legal representation amid an emotionally-charged divorce process.
Our attorneys have successfully represented professionals in divorce cases for many years. We combine our litigation and negotiation skills to help you reach a divorce settlement that you are comfortable with. Our team will help you with the following:
Understanding Divorce Law
As local divorce lawyers, we know the court system, the judge’s expectations, and how to prepare a winning case. Our lawyers have completed years of rigorous legal training programs in addition to their education.
We employ staff across several specializations such as alimony, child custody, and child support. Our team is more than prepared to guide you throughout all stages of the divorce process.
It’s normal to feel many emotions during the divorce process. But to fight for a fair divorce settlement, you must remain level-headed when making decisions. Our divorce attorneys can:
- Represent you in all hearings and mediations
- Advocate for your interests
- Maintain civility between parties
Aiding Asset Division
Asset division is the most contentious part of the divorce and causes the most frustration overall. Our divorce lawyers have resources at our disposal to better understand and negotiate asset division. We could recruit the following parties to help with your case:
- Forensic accountants
- Property appraisers
- Vocational assessors
Negotiating on Your Behalf
The art of negotiation is essential in securing a favorable judgment on your behalf. Thankfully, our lawyers can problem-solve and dispute unfair resolutions. We can take your court to trial, if necessary.
Contact Our Athens Divorce Team Today and Receive Guidance
When it comes to divorce for professionals, you don’t want to be blind-sided. So let one of our divorce attorneys at Charlotte Christian Law prepare you for your case. Call now for your case review at (256) 859-7277. We can discuss how our Athens lawyers can help with divorce for professionals.
Charlotte Christian Law Athens Office Location:213 South Jefferson Street
Athens, AL 35612