Divorce is a significant life change that can occur anytime throughout the year. However, studies have shown that specific periods often see an increased number of divorce filings. Below, we discuss the most common times of year for divorce in Maryland and shed light...
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Divorce
Can a collector contact me about my former spouse’s debt?
Divorce involves various procedures, including the division of assets and property. Each state has varying laws to address property and liability division. Maryland courts have the power to resolve debt disputes involving debt associated with the acquisition of...
How can women over 50 protect their finances after divorce?
Gray divorce, or divorce among adults aged 50 and older, can be a particularly stressful experience which is becoming increasingly common in the United States. This trend has significant financial implications, particularly for women. If you're going through a divorce...
Two common mistakes made during divorce
Even when you and your spouse agree it’s time for your marriage to end, the divorce process can be difficult. Emotions and stress often cause people to make mistakes that sabotage their divorce and make the entire process even more challenging. Knowing what some of...
Business debts and obligations can factor into your divorce
Unless you already had a successful business when you got married, you inherited it, or your interest was gifted to you, your small business is part of your marital estate. If you get divorced in Maryland you will be required to list the value of the business as...
Using a QDRO to protect your retirement
When going through divorce an issue of concern for the non-working spouse or one who didn't work as much or earn as much as the economically dominant spouse is whether the non-working spouse will receive a part of his/her spouse's pension. Maybe you are in your 50s...
Is your personal inheritance at risk in a Maryland divorce?
If you inherit valuable property during your marriage, the entire family will potentially benefit from that windfall. You may use those funds to invest in your home or improve everyone's standard of living. Unfortunately, receiving a significant inheritance could also...
Will an affair have a financial impact on your divorce?
Your spouse had an affair. You found out about it and told them immediately that you wanted to get a divorce. You are naturally very hurt and angry by what has happened. As you go to court, you feel like you were in the right. Your spouse is the one who did something...
How can divorce impact your credit?
Going through a divorce means having to unravel yourself from your ex. While some aspects of this are easy, others are a bit more complex. One area that many people don’t think about as they’re divorcing is their credit. While divorce isn’t a factor considered on your...
3 benefits of creating a QDRO as part of your gray divorce
Splitting retirement accounts in a divorce is a crucial step, especially for those who have spent decades together and are close to retirement age. Creating a Qualified Domestic Relations Order (QDRO) is often part of the process of splitting retirement accounts in...