For doctors living in North Tustin and other areas of Orange County, one of their major concerns is determining what will happen to their medical practice after their divorce is through.
Since California is a community property state, all debts and assets acquired from the date of marriage to the date of the finalization of the divorce are marital assets that must be divided 50/50 between both spouses. Although a pre- or postnuptial agreement in place can be put to use to protect your property, in its absence, all acquired assets will be subject to a 50% split.
If you started your medical practice after you got married, the property division will probably include the financial value or an increase in that value. You will need to show that the value of your practice went up during the marriage, even if it was started before you got married. After that, the courts and the judge will decide how to divide the practice. If your spouse is not a doctor, you will be the sole owner. The other spouse will, however, be entitled to a share of the property that is proportional to how much they helped the practice grow after the marriage.