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May 2015 Archives

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Navigating the process of a high-asset divorce


Many Maryland couples struggle with their marriages. Unfortunately, the issues that crop up - such as finances, infidelity or clashing personalities - often lead to divorce. While a divorce can eventually lead to freedom for those trapped in unhappy marriages, the divorce process can be much more stressful than the actual marriage. Many couples refuse to negotiate, and the result can be a nasty court battle. But no matter what happens, the right lawyer will fight for your rights every step of the way.

What happens to retirement plans in a high asset divorce?


Some Maryland residents spend their entire career - several decades or longer - saving for retirement. By the time they retire, they may have amassed a large sum of money - perhaps millions of dollars. But with the recent trend toward divorce late in life, this money may not be totally secure. Retirement plans such as pensions, stocks and 401(k)s are considered assets in a divorce, so these accounts are subject to division. This means that the other spouse may be able to claim his or her fair share should the marriage end. Read on to find out more about what happens to retirement plans in a high asset divorce.

Who keeps the engagement ring in a property division dispute?


Maryland has equitable distribution laws in place for couples looking to divide assets in a divorce. But, the laws are not so straightforward when it comes to deciding who keeps the engagement ring in the event that the couple splits before marriage. Many men spend thousands of dollars on the perfect ring when it comes time to propose, so it would only seem fair that they would be able to keep it should the relationship go sour. While the ring went to the "innocent" person in the past, modern law has changed dramatically and property division is based on the situation.

Creating an accurate child support plan through diligence


Maryland uses a calculator and formula to determine the amount of money that non-custodial parents must pay. However, disputes arise when the support payment causes a financial burden. Most non-custodial parents are obligated to pay child support, but this can be problematic when they are suffering from job loss, bankruptcy or a job with irregular income. But, by thoroughly assessing one's economic and employment situations, it's possible to reach an agreement that is favorable for both sides.

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