Law Office of Dawn M. Green
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Posts tagged "equitable distribution"

Carefully planned marriages could prevent painful divorces

A recent survey conducted by Harris Interactive shows that almost 50 percent of divorced individuals wish they had signed a prenuptial agreement before getting married, with 44 percent of single individuals saying they would want such an agreement in place before being wed. However, experts say that many marrying couples in Maryland and elsewhere fail to properly plan their marriage, making the economic consequences of divorce particularly harsh. Although Maryland is not a community property state, it does have an "equitable distribution" statute in place, meaning that marital assets could be divided equally. One expert explained that it is common for one spouse to contribute a disproportionate amount of money or assets to a marriage, but those contributions are often "merged into one marital pot" when property division takes place. For example, NBA star Kobe Bryant was reportedly ordered to hand over approximately half of his $150 fortune to his soon-to-be ex-wife. He and his spouse did not sign a prenuptial agreement before their wedding.

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