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To Join or Not To Join … What Happens to Your

That’s the Question Inheritance in the Event

For association management professionals with- of a Divorce?
in organized medicine, that is a common question
we are asked by physicians as they consider allo- Inheritances can be a sticky issue during a
cating their limited membership dollars toward divorce. However, unless an inheritance is
the advancement of their career and promotion of given and named to both spouses, the gener-
their profession. There is a considerable amount of al rule is that an inheritance is a nonmarital
competition for membership when you weigh the asset of the inheriting spouse. There are sev-
numerous organizations on a national, state, coun- eral situations that could turn the nonmari-
ty, and specialty society level. If we are all func- tal inheritance into a marital asset. For
tioning as designed, each should offer unique example, if the inheritance received is
value to our physician members to justify your money and is deposited into a jointly titled
dues dollars. bank account, or if it is deposited into a
While each organization addresses value in dif- bank account in which income is also
ferent ways, as your County Medical Society, we BY FRASER COBBE deposited, then the inheritance could be
appreciate the unique role we play at a local level, determined comingled by the court and des-
where grassroots, community service, quality of ignated a marital asset to be equitably divid- BY ANGELA R. NEAVE,
life, professional reputation, and the practice of medicine actually takes place. ed during a divorce. ESQ.
County Medical Societies interface with the public officials, governmental Inheritances are not limited to cash pay-
agencies, health care leaders, as well as other institutions that directly impact ments. If you receive your parent’s retirement plan or inherit an interest
the environment you work and play in every day. These are the friendships and in a home, these can also be comingled if not maintained properly. If you
relationships that foster ideas and change at all levels of our society. receive a retirement plan, do not roll it into your retirement plan or liqui-
We encourage physicians to identify the unique benefits that can be deliv- date it and deposit the funds into a joint account or a marital account.
ered by membership in different organizations at all levels. Each will provide Simply leave it in the investment vehicle through which you inherited it
independent avenues for your voice to be heard. Organized medicine is the way and it is protected. If you inherit an interest in a home, do not use marital
that physicians can address those situations that affect the quality of service money, such as income or savings to pay taxes or pay the mortgage if one
and the future of healthcare delivery. Organized medicine provides that plat- exists or to renovate the home. All of those actions can create a marital
form for you to pursue your passions and be an agent of change for future gen- interest in a nonmarital asset.
erations. Membership is that investment in your future. We encourage you to
reach out and ask how joining your County, State, and National association can Protecting your inheritance during the divorce process is important.
have a positive impact, both personally and professionally. If you have questions about divorce and the inheritance you received, and
want to discuss those questions with an attorney, call Angela R. Neave,
Fraser Cobbe is Executive Director, Dade County Medical Association. Esquire at (954) 981-2200 for a free consultation.
For more information, visit miamimed.com.

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An individual, organization, professional, student, volunteer or program, who, through their Silver Sponnsors

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F or f n i or m o i t a or s pon s or p i h s op por u t c , s e i t i n on a t T t c a a i n V l a en z ue a l a t t va l en z ue a l @ mi a mi c h a m ber c . o m or 3 5 - 5 0 5 1 9 4 5 - 7 7 or v is t i w w . w M a i mi C h a m m be c . r o m

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