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...
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Divorce
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...
How does a QDRO help with the division of retirement accounts?
Divorces involving couples who have stayed married for a long time or who have substantial assets often become quite complex. The more assets that the couple has together, the harder it is to split everything up when they divorce. Retirement accounts and pensions can...
Can you give up your right to your spouse’s Social Security?
Whether you have retirement accounts and a pension plan or not, Social Security retirement benefits -- along with Medicare benefits -- often play an important part in everyone’s financial plans for their golden years. If you’ve never worked outside the home or have...
Can you stay in the family home with the kids during a divorce?
Divorce means a lot of big changes for you and your children. If you are like most parents in Maryland, you want to make the divorce as easy on your kids as possible. Minimizing how much disruption they experience will be a big part of that strategy. Needing to move...
How your divorce may impact your retirement prospects
One of the more common concerns individuals have about divorce is how it might impact their financial futures. Spouses who have reached the peaks of their careers, have a family business or are nearing retirement tend to find themselves unable to think of much else....
A gray divorce can still affect your relationship with your kids
Parents thinking about divorce when they have young children at home understand that their kids will probably struggle with the end of the marriage. Those who have older kids may not worry quite as much about the emotional responses of their children. After all, they...