If you're one of our more frequent readers, then you know that the distribution of property during a divorce here in Maryland is done using equitable distribution rules. Despite its title, equitable distribution doesn't necessarily mean an equal 50/50 split. The rule instead bases fairness on the value of marital property, splitting it fairly between spouses.
Because each state has the right to draft its own laws for family law issues, couples moving to Maryland from another state cannot expect that what applied in one state will apply here. Everything from divorce to child custody may be different from state to state, leaving most people less knowledgeable when it comes time to go to court than they thought.
Litigation over a property settlement agreement during divorce can lengthen the process and increase stress for all parties involved. Many Maryland couples have the desire to resolve the divorce process as quickly as possible but are unsure how to navigate some of the more complicated issues. It is possible to arrive at a beneficial property settlement agreement, which is simpler when couples understand how emotions and psychological elements affect the divorce process.
A legal separation may be the optimal choice for some Maryland couples, whether they are considering divorce or would like to begin the process of dividing finances. No matter the reason for a separation, it is in the best interests of all parties to have a formal separation agreement drafted with the help of a knowledgeable attorney. This agreement can help spouses make important decisions, as well as lay the groundwork for an uncontested divorce in the future.
"Diamonds are forever" and "Diamonds are a girl's best friend" are two of the best recognized ad campaigns ever launched. Unfortunately for many couples, a recent study seems to suggest that a bigger price tag for that engagement and wedding ring actually tends to lead to an eventual divorce. Obviously, there are more factors at play -- including financial stress -- that can lead to conflict. Given the suggested correlation between spending a lot of money for an engagement ring and/or a wedding, some Maryland couples may benefit by considering the protections that a prenuptial agreement may offer them in the event that marital issues do emerge down the road.
According to the U.S. Census conducted four years ago, Maryland is ranked as one of the wealthiest states. That being said, there may be a higher concentration of affluent couples residing here. For this reason, when some of these same couples contemplate a divorce, they may also wish to retain the advice of a financial expert while going through the process.
Many of our Maryland readers who followed the George Zimmerman trial know that it's been a difficult couple of months for him and his wife. Forced to quit their jobs and go into hiding while jurors debated the second-degree murder conviction may have taken more of a toll on their marriage than they thought. This became evident when Shellie Zimmerman filed for divorce earlier this month.
There is hardly anyone in the United States who hasn't heard about a prenuptial agreement. These pre-marriage contracts have been gaining popularity for years as career-driven individuals brought more to a marriage than just love. And as many of our readers know, these handy legal documents became incredibly helpful during asset division proceedings, which can be a headache in and of their own.