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SoHo is home to many exceptional hospitals, like New York-Presbyterian Lower Manhattan Hospital, where physicians put in long hours helping others heal and recover. Going through a divorce can feel like everything you’ve built is on the line. A SoHo divorce lawyer for doctors and physicians can review your case and listen to your goals before finding the right strategy for protecting what you’ve built.
Since 2005, doctors and physicians in SoHo and surrounding communities have trusted the Levoritz Law Firm to provide exceptional legal support during high-stakes divorces involving large estates. Founding attorney Yonatan Levoritz has taken a different approach from day one. By focusing on the needs and interests of his clients and taking the time to learn about their goals and concerns, his law firm can take a fresh, results-driven approach to every case.
We understand that our high-earning clients come to us expecting solutions to complex challenges. To provide your clients with the highest-quality care, we bring the same personal attention to every case we manage. Legal strategies are tailored to our clients’ goals and needs. Our unique approach has earned our lead attorney the highest rating by Martindale-Hubbell® for delivering high-quality ethical services. Awards and recognition are not guarantees of future results.
The state of New York is home to more than 90,000 licensed physicians, and many work at New York-Presbyterian Lower Manhattan Hospital, located at 170 William Street, or nearby NYU Langone Health. Physicians can face unique challenges when going through a divorce. Many doctors either own their own medical practice or are part-owners of one.
Before a divorce can be finalized, partnership interests, ownership shares, and other aspects of the medical business would need to be accounted for. There may be vast financial records to review, and valuations can lead to disagreements over the true value of an estate or medical practice.
Assets within a medical practice could include:
The median home value in SoHo is $3,135,729, making property division an important and often complex part of any divorce. Additionally, a profitable doctor-owned medical practice can be worth several times its yearly profit. Buyers often value medical practices at six to 12 times their annual earnings, depending on the practice’s size, specialty, and financial performance.
Protecting your assets often requires coordination with a family law attorney who represents clients who own a large estate, a medical practice, or part ownership in a medical practice.
Whether you practice medicine in NoHo, Tribeca, Little Italy, or within SoHo itself, going through a divorce as a physician can pose unique and significant challenges. The decision to hire a divorce lawyer for doctors and physicians positions you for a favorable outcome in your divorce case that protects your top priorities.
An attorney can rely on their knowledge of divorce laws when reviewing your business and financial records, so the courts understand what can and cannot be split during a divorce. At every step of the process, your SoHo divorce attorney for doctors and physicians can advocate on your behalf through the court process while arguing for your property rights and looking out for your interests at every step.
How a medical practice is divided in a New York divorce depends on its ownership structure and whether all or part of the business is considered marital property. In some cases, a medical practice may need to be valued by a third-party consultant because disputes over the ownership structure of a business may be in question. When there are accusations over the ownership status of a medical business, the courts rely on evidence, not conjecture.
A doctor’s retirement accounts are handled during a divorce in the same manner as other retirement accounts in New York. The courts consider how long the marriage lasted, how each spouse contributed to the marriage, and more. A proper valuation and documentation guide the process. If you have concerns about your spouse making an unlawful claim to your retirement account, legal support can guide the process to a resolution based on the law and evidence.
A physician can protect their practice in SoHo by maintaining accurate financial records and avoiding the commingling of marital and separate assets. Early legal support can also play a key role in protecting a physician’s property rights. During a divorce, legal support can help you gain an accurate valuation for your practice and clear classifications for your assets as either marital or separate property.
Before filing for divorce in SoHo, physicians should consult with an experienced family law attorney to evaluate their legal rights and options. Attorneys bring a unique and hard-earned perspective due to their years of experience and knowledge of the law. Even if you are expecting an uncontested divorce, dynamics can change once the divorce process is underway. Strong representation can protect you from surprises and challenges that could compromise your property rights.
Not every family law firm in New York City brings more than two decades of experience managing complex divorces involving large estates and medical practices. When you work with the Levoritz Law Firm, you gain unwavering support from a team of litigators who will take the time to calculate the value of your medical practice, listen to your goals and concerns, and formulate the right strategy for protecting your property rights.
Our core values of integrity, responsiveness, and dedication to our community inform and shape how we manage cases. Contact our office today.
This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by Founding Partner, Yonatan Levoritz who has more than 20 years of legal experience as a divorce & family attorney.
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