Maryland couples who are going through the divorce process are often overcome with emotions. Separating from a spouse is hard enough without the added problems associated with the need to divide assets and debts. Those who have an outstanding student loan may not know whether they will need to pay back the entire loan or if the court will also hold their spouse as a responsible party.
Running a business in Maryland can be a very lucrative prospect for entrepreneurs. When an owner's marriage is headed for divorce, however, valuable business assets could be put in jeopardy. These assets, along with income derived from a business, may be considered marital property in a divorce.
Even though divorce rates are slowly decreasing over time, Americans see a rise in “grey divorce,” or divorce amongst baby boomers or older generations. With the increase of grey divorce, more mature couples consider how divorce affects personal property, especially retirement accounts.