Attorney
One of the most admirable things about veterinarians is their ability to connect with, assess, and treat their patients without being able to speak the same language. As a dog person (see two of mine here) it’s something that amazes me.
As a lawyer, it is a skill set I’m envious of. Communication is so important in family law cases, but all too often divorces drag on because legal jargon gets in the way. So below is an attempt to clear up some confusion with a little bit of a lawyer to human dictionary aimed at helping New Mexico vets understand why they may need to take action to protect their practice during a divorce.
Community Property
Community property is one of the most difficult concepts to understand if you aren’t familiar with New Mexico’s divorce laws. It’s basically the legal embodiment of the wedding vow “what’s mine is yours” but it goes much further than many couples appreciate.
Under New Mexico law, most assets acquired or expanded during the marriage — including your veterinary clinic — are subject to a 50/50 split during divorce. It doesn’t matter whether your spouse is a fellow vet at your clinic, works in a completely different industry, or is a stay-at-home parent, they are presumed to be the legal owner of 50% of your practice.
What is important to note is that it is not the veterinary practice itself, but the value it holds that is jointly owned and must be divided equally. Your clinic does not have to be a casualty of the divorce if you and your spouse are willing to be flexible and work together to find a new path forward. Here are a few different options to consider:
- The easiest thing to do would be to sell the practice and all its assets (like all the equipment and the ground it sits on) and split the proceeds in half. But that is rarely the best way to maximize value or ensure you and your former partner are on a solid financial footing post-divorce.
- One of you could also buy out the other. This might involve refinancing or taking on investors. And you would need to consider whether this is even possible if the business is already saddled with debt or owned by people other than you and your soon-to-be-ex-spouse.
- You could also negotiate a divorce agreement that allows one person to take full ownership of the practice while the other walks away with other equally valued assets (like your home or retirement accounts).
It’s this third alternative that is most appealing to professionals like vets, who need to keep their practice running to support themselves and their family post-divorce.
Pro Se
Pro se is a Latin phrase translated as “for oneself.” In the family law context, it is often used to refer to an individual who chooses to represent themselves in court without the assistance of an attorney.
The New Mexico court system provides information and forms on its website for people who want to try to get divorced pro se. And there are lots of self-help gurus on the internet urging people to try DIY divorce, but doing so can be risky.
If they don’t negotiate a workable separation agreement with their soon-to-be-former-spouse, pro se litigants are at the mercy of the courts when it comes to dividing up their community property. And judges don’t have time to slice and dice with precision — they will order the wholesale liquidation of your assets and divide by two. If keeping your clinic open is a priority, this simply will not do.
This is why most vets opt to work with an experienced divorce attorney instead of going it alone. However, this does not mean that a traditional divorce, where both sides lawyer up, is the only option. Many professionals like veterinarians, doctors, dentists, accountants, and lawyers, who have built a practice in the Albuquerque area and want to see it survive the divorce are opting to work with business-minded attorneys like Bob Matteucci who can guide them through newer methods of separation like mediated or collaborative divorce.
- Mediated Divorce – Mediation is the preferred choice of couples who generally agree on the terms of their divorce but need assistance resolving a few high-stakes conflicts or fairly dividing complex assets. In these cases, the mediator, a neutral third party, works towards steering both sides to a mutually acceptable resolution, and drafts all the paperwork necessary to formalize the divorce.
- Collaborative Divorce – Couples in the Albuquerque area who still trust and respect one another, but no longer want to be married to each other, are increasingly opting for collaborative divorces. During these cases the attorney brings other professionals like financial planners, business consultants, and counselors to the negotiating table to help hammer out an agreement.
I am trained to handle both of these types of divorce, and I’ve gotten a lot of positive feedback from local couples I have shepherded through these processes.
Serving Families with Dignity & Compassion
Until science fiction becomes real and they start making those dog collars that translate barks into sentences, pet owners like myself are going to have to rely on veterinarians to tell us what it means when our furry loved ones are feeling a little bit off.
And in a similar vein, veterinarians and other professionals with complex assets are going to have to rely on business-minded attorneys like me to help them navigate the divorce process. I take pride in my ability to translate legal jargon into something business owners and professionals in the Albuquerque area can understand. And I work hard to help veterinarians and other business owners preserve their practices and move forward with their lives.
Please contact Matteucci Family Law today to set up a meeting and discuss your case.