Most working professionals prepare for financial stability during retirement in several ways. Many might set aside some of their income in tax-deferred accounts, such as 401(k)s. Others might accrue pensions by maintaining long-term employment with one company. Those...
Don’t overlook this valuable asset in divorce
When you’re splitting up assets during a divorce, some things are relatively easy to remember. Maybe the two of you have a shared bank account, so you already know that you need to close that account and open one in your name. When you do, the two of you probably need...
Is the vacation home worth fighting for in divorce?
A high-asset divorce typically deals with issues that far less affluent couples ever encounter. That’s both a blessing and a curse, as it can make the disposition of marital assets more complex. Alternatively, it also offers divorcing spouses additional options when...
Addressing deferred compensation when planning a divorce
Many of the most valuable assets in a marital estate are readily accessible and divisible when people divorce. They hold the title to their home and have control over the funds in their financial accounts. Other assets may theoretically be part of the marital estate...
Be wary of hidden assets during your divorce
The property division process is usually among the most contentious aspects of divorce proceedings. Spouses may attempt to conceal assets for financial gain or to avoid obligations. This can take many forms, from offshore accounts and undisclosed income to undervalued...
Will a Maryland divorce trigger retirement account penalties?
Maryland divorce proceedings usually require property division discussions. The spouses either need to reach their own agreements about splitting up the marital property or presentation so that a judge can divide their property. Assets that represent a larger total...
How separate property can become part of one’s marital estate
Property division is one of the most complicated aspects of virtually any Maryland divorce. Couples often disagree about what assets they need to divide, how much those assets are worth and what an appropriate division of those resources would look like. Typically,...
Keeping your company after a divorce
In Maryland, marital assets must be divided equitably in a divorce settlement. This means that you may lose some or all of your business in a settlement if you don't protect your company. Fortunately, there are several easy steps that you can take to do so. Put your...
Getting your spouse off of a mortgage
Your divorce settlement may allow you to keep the Maryland home that you shared with your spouse. However, you may be required to take your spouse off of the mortgage. There are a couple of methods that can be used to accomplish this goal. A mortgage may be eligible...
What should you do when selling a house after your divorce?
For many couples, their Maryland home represents their greatest financial investment. Couples may decide to sell the home after a divorce due to a court order or to meet financial obligations. These tips can help you remain focused on the right choices during the...
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