People in Maryland have probably heard stories about the property division process from a friend or family member who has gone through a divorce. In a divorce, the court has the duty to distribute the marital property of the two spouses.
People in Maryland who are going through divorce face a lot of uncertainty, and surely have a lot of questions on their minds. One of the main concerns in most divorce cases is the family finances, and how that situation may change once couples have finalized their divorce.
When most people in Maryland prepare to get married, they have a million important things on their mind. Where will the couple live? Who will be responsible for the family’s income? All of these decisions require a lot of careful thought, and with so many important issues to take care of, it’s not surprising that a lot of couples don’t want to think about the “what if.”
People in Maryland know that credit cards are an essential tool in the business world and a part of most people’s daily routine. People use credit cards for everything from their daily cup of coffee to major purchases, so it is not surprising that credit card debt can be a major issue in many marriages.
People in Maryland may have seen a recent financial editorial article in Forbes, which discussed some of the issues that women, especially women nearing retirement age, may run into, if they get a divorce.
People in Maryland know that divorce can be an expensive proposition. In Maryland, it means that a divorcing spouse is entitled to an equitable share of all marital property, which is essentially all property obtained during the marriage. When most people think about property division, the first thoughts tend to gravitate towards tangible items, such as the marital home.
People in Maryland may have seen a recent article which discussed the importance of thing about the tax implications of divorce, and in particular, paying close attention to which assets could trigger big time capital gains tax liabilities.
The end of a marriage is not an easy event to begin, go through or finalize. This is especially true for high profile or wealthy couples. A high asset divorce often means a complex dissolution. Whether they cannot agree on the distribution of assets and property or financial support, it is important that divorcing spouses address the details of these issues.
People in Maryland may have seen an interesting article about the new frontier of digital currency, and its potential to provide an anonymous haven to conceal financial assets. Spouses preparing for a divorce need to be aware of hidden assets in all forms, but the relatively new phenomenon of digital currencies such as Bitcoin may make it easier for a dishonest spouse to convert traceable assets into undocumented digital currency, which is why divorcing spouses and their legal counsel need to be ready to address this issue.
People in Maryland may have heard about a new reality TV show coming to audiences this summer that deals with the not-so-pleasant business of property division between divorcing couples. The show, called “Untying the Knot,” will air on Bravo starting in June, and follows a divorce mediator through her trials and tribulations as she helps couples work to split up their marital property.