Most people have heard the saying "All's fair in love and war." While those who have been through a divorce may have experienced both love and war, very few will say that they got their fair share. However, there are some states - including Maryland - that focus on equitable distribution in a divorce. This means that while the assets may not be evenly divided, they will be split fairly.
Posts tagged "bank accounts"
When Maryland couples divorce, they typically fight over assets such as bank accounts, homes, vehicles and expensive artwork. However, more and more divorces are involving pets, which tend to be treated as property under state laws, despite being treated as members of the family in many households. One recent property division case involving a dog resulted in sole custody for the ex-husband, a veterinarian.
Maryland residents who are lucky enough to have their divorces proceed amicably usually count themselves as lucky. After all, most people think of divorce as a highly contentious process, full of courtroom battles over issues like child custody and alimony. While professionals who are involved in all stages of divorce have made huge gains in recent years in efforts to move more divorce cases toward respectful mediation and away from courtroom litigation, the fact remains that many cases can only be resolved in front of a family law judge.
When our Maryland readers think about complex property division, they probably envision huge amounts of marital property that is subject to a split, along with numerous bank accounts, the complex valuation of artwork or vicious fights over assets that have sentimental value to both spouses. However, one difficult part of the property division process often gets overlooked: splitting insurance.
For Maryland residents contemplating divorce, there are probably many questions that need to be answered. A recent post delved into the property division aspect of divorce, questioning the role retirement accounts play in dividing up the marital property.