About Jay D. Raxenberg
Not just any divorce attorney. Learn what makes Jay D. Raxenberg Long Islands choice for Divorce Law.
A J.D., M.B.A, M.D., Ph.D, C.P.A, or L.L.M degree look great on your resume. But, are they good for your divorce?
In New York, licenses obtained during the marriage are subject to equitable distribution during a divorce. In the seminal case of
O’Brien v. O’Brien, where the court of appeals held that the plaintiff’s license to practice medicine was subject to equitable distribution, the court of appeals explained, “A professional license is a valuable property right, reflected in the money, effort and lost opportunity for employment expended in its acquisition, and also in the enhanced earning capacity it affords its holder, which may not be revoked without due process of law.”
Enhanced earnings are the additional income that is potentially available to a spouse as a result of his or her having acquired a degree or license during the course of the marriage. Valuating an enhanced earning will generally require the retention of forensic evaluator. Generally, the forensic expert will determine the difference between the earnings made possible by the license and the earnings that the licensed spouse would have expected without the license.
According to Domestic Relations Law §236, for a spouse to receive an award on account of enhanced earnings it must be shown that he or she made a contribution to the licensed or degreed spouse or to the acquisition of the license or degree, which contribution makes it equitable for an award to be made.
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