Annapolis Maryland Family Law Blog

Divorce for Maryland couples involves many potential areas of conflict. Of course, when children are involved, the issues of child custody and support become paramount. However, asset division can be as contentious as child custody and often far more complex. This is especially true if either of the divorcing parties are small business owners. Other parties that are not part of the divorce, such as business partners, could be impacted.

If a business will be involved in the divorce process, the couple should conduct a proper evaluation of the company and factor the percentage of ownership. Although there are different methods to evaluate a business, the percentage ownership issue can be trickier. A business started before the marriage may be considered separate property. However, it's more likely that the business is a marital asset, at least in terms of equity, that must be divided. In such instances, the spouse who wants to keep the business will probably buy out their future ex's shares.

If couples in Maryland who are getting a divorce own a home, they will need to decide how to divide it along with the rest of their joint property. They may sell it, or one person might decide to keep it. In the latter case, it is necessary to determine how much equity each person has in the house and what the market value of the house is.

An appraiser will consider what similar homes sold for and the home's condition among other factors. If the couple cannot agree on an appraiser, each person may want to hire a separate one. The valuations may be similar, or they may be significantly different. In the latter case, they might need to then hire a third appraiser. A home inspector can check for any issues that the couple may be unaware of that should be fixed before the house is solely the property of one person. The cost of repairs could be subtracted from the buyer's share of the house, or they could be addressed in another way.

Common wisdom suggests that couples in Maryland and throughout the country are happiest in the first few years of their marriages. As time goes on, this wisdom suggests that married couples start to lose interest in each other. However, this is not necessarily the case. According to a study of low-income couples in Los Angeles County, finances may have a role to play when it comes to marital satisfaction.

Furthermore, couples who are highly satisfied at the beginning of their marriages may be more likely to be satisfied as time goes on. Conversely, if a couple is not happy at the beginning of their marriage, they are more likely to experience a drop in satisfaction as the relationship progresses. However, the team that conducted the study found that men who weren't happy in their marriages initially became more satisfied after being married for three to five years.

In Maryland and across the United States, depression often affects couples who divorce after 50. Divorce may be related to health problems regardless of the person's age; however, people who get divorced later in life may experience higher levels of stress. Divorce rates among couples 50 and older have doubled in the past 30 years. Ending a marriage can leave a person with serious psychological problems, particularly if the individual was previously dealing with health-related issues.

Although younger people used to get divorced more often than couples over 50, their divorce rates have decreased during the past few decades. The trend to get divorced after 50 is commonly referred to as "gray divorce." A 2012 study conducted at Bowling Green State University revealed the phenomenon. Susan Brown, a researcher involved in the study, says that gray divorce occurs for various reasons, including the fact that the life expectancy rate is longer today.