When doctors in Colorado are contemplating a divorce, there are several things that they need to think about. Divorces usually involve splitting up assets, but things get more complicated when medical practices are involved. More likely than not, most doctors today belong to some sort of a partnership or group practice. If those doctors end up getting divorced, there are key things that need to be thought of when it comes to splitting assets.

When it comes to splitting up assets, the non-medical spouse may want to claim a share of the medical practice. This is most likely the point where a forensic accountant needs to get involved. In many areas of the country, non-medical people are not allowed to have ownership in a medical practice. This means that the non-medical spouse would not be able to own shares in their soon-to-be ex’s medical practice if a divorce is imminent. Lawyers and forensic accountants will most likely have to figure out how much that doctor’s share is worth and then split that amount between the two. At the end of the day, it will depend on the circumstances regarding each specific divorce.

Some practices protect themselves by stipulating in their contracts that the practice is not to be included or listed as any sort of marital asset. This would mean that some doctors would have to forfeit their stock in the practice if they were divorcing. The other spouse’s lawyer may think that this is unfair since the divorcing physician could buy back the stock once the divorce is complete.

While some divorces can be completed easily and in a straightforward manner, divorces involving physicians are a lot more complicated and require a specific financial and accounting expertise. Doctors who are contemplating a divorce may wish to work with law firms that have experience handling complex financial issues when it comes to marriage dissolution.