Legal Question in Family Law in Pennsylvania
Divorce-Equit. Dist of Dental Practice
My husband is a partner in a dental practice with two other partners. He is still paying off his 20% of the practice by withdrawing about $6,000.00 a month from his paycheck. He has been paying the loan off for four years.($240,000.00) The practice has been evaluated by an accountant at $2,400,000.00. How would this practice value be distributed?
1 Answer from Attorneys
Re: Divorce-Equit. Dist of Dental Practice
Due to the nature of equitable distribution, assets and liabilities are distributed in the most equitable manner. That essentially means in the fairest way to the parties. Thus, it does not require distribution of that asset at all, provided there are other assets you could receive. Rather, those assets could be distributed to you on account of your share of the practice.
E.D. is also based in large part on relative incomes. Generally, the assets are divided based on a percentage.
I trust this answers your question but feel free to call or E-mail on a free initial basis.
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