Doctors Marry Doctors, Less Likely to Divorce Than the Rest of Us
Doctors Less Likely to Divorce
Studies show doctors are more likely to stay married than couples in other professions, but they are not immune from divorce and heartbreak.
Still, only a quarter of married doctors file for divorce compared to about a third of couples from other non-healthcare occupations combined, according to a study by the British Medical Journal.
Maybe it’s because statistics show that doctors tend to marry other doctors or healthcare workers. Also, given the extended time in medical school and required residency, doctors often are in their late 20s or early 30s before they are ready to marry. Another factor that may explain their stronger marriages is doctors more often than others wait until later in life to tie the knot.
The BMJ reports that roughly 24 percent of married doctors wound up divorced compared to a 35 percent divorce rate for other couples. Additionally, it’s not just doctors who tend to stay married more often. Indeed, other healthcare professionals have low divorce rates including pharmacists with 23 percent, 25 percent for dentists and health care executives had 31 percent and nurses at 33 percent.
One noted difference among doctors, however, is that female doctors tend to have higher divorce rates than male doctors. Roughly one and a half times higher than their male counterparts when they marry someone other than another doctor.
Certainly, most physicians tend to work long hours and that can cause marital problems that lead to a divorce. One of the biggest hurdles for doctors is maintaining their practice and attending to the patients’ needs while figuring out their own personal life.
High Income Divorce in California
Not all doctors are able to mend their marriage and avoid divorce. If that’s the case, the best way to move forward is with the guidance and help of an experienced high-income divorce attorney.
Typically, the end of a marriage is always a major life event that impacts everyone differently, but those with highly stressful careers such as doctors have even more to think about.
First of all, doctors are already living a busy and stressful life. Balancing work and family obligations is never easy for anyone.
However, there are basic fundamental elements of divorce to consider such as child custody, financial support and property division that must be addressed.
Standard of Living
Many physicians typically have substantial income and thus they maintain a high standard of living. Divorcing doctors will have to continue providing financial support to their spouse whether they are the sole bread winner or if both spouses are high income earners. Certainly it is not uncommon for some doctors to marry other heatlhcare workers or professionals, but some also have stay-at-home spouses. There are no set calculations to determine spousal support and eventually that may come to an end depending on your situation.
It’s common for spouses with high income to hide assets from their spouse. However, there is a legal requirement that both spouses must provide disclosure of all assets, income, and debt.
Whether it’s valuable jewelry, collections, luxury cars, priceless artwork, retirement accounts or investments, both spouses must be honest about all assets so that the division of property is fair. It’s not uncommon for some assets to be undervalued in these financial disclosures. Doctors may delay taking a scheduled bonus. Those who own their own practice may skim money from the business or falsify expenses. So how do you know if there are assets hidden from you? An attorney will take depositions or legal interviews with your spouse’s employer to discuss their income and potential bonuses. Any false answers would be considered perjury. Also, a forensic accountant or private investigator who is trained to review financial documents can help find hidden assets. Finally, never underestimate how taxes may affect the division of assets including joint retirement accounts and capital gains from divided up property.
All divorcing couples with children will have to agree upon child custody and visitation arrangements. However, high-income professionals such as doctors will likely experience more complicated scenarios because their families are typically accustomed to a higher standard of living than others. This will certainly impact alimony paid to spouses as well as child support. Indeed, families that once enjoyed extensive travel together may now have to coordinate plans and school absences with their former spouse and their new schedule. Also, busy schedule or odd and long work hours may coincide with your visitation schedule with the children. Flexibility and honesty will help keep negotiations open and disruptions to the minimum.
Valuation of a Physician’s Practice
One of the largest assets a doctor has is their practice. As you work through the divorce process, there will be a time when the division of assets arises and your practice will need to be valued just like everything else including your home and other real estate. The attorney will need to separate community property from separate property. A business established prior to a marriage will be treated differently than one that began after a couple is married. It can certainly get complicated and there is no place for speculation when it comes to this valuable asset. Indeed, a fair value should be determined with the help of a qualified business appraiser.
Johnson Family Law Attorneys
There is no room for mistakes when it comes to a high asset divorce case. Johnson Attorneys Group understands the importance of finding the best solutions that will enable both spouses to thrive while protecting your rights. We will help you find common ground with your former spouse and defend your rights in court to ensure the best outcome for you and your children.
Our Southern California family law firm has experience with all major family law issues. Whether it’s child custody, child support, property division, divorce or alimony, we’ve got your back.