The valuation of assets in a divorce can be critical. But, when a person thinks of their most valuable possession, what is the most likely answer? For some, the answer might be the family home and accompanying real estate. However, according to a recent article, for many the answer is their retirement accounts and pensions. Not giving these assets their due during the division of property could be a big mistake.
Posts tagged "property division"
As if the divorce process didn't already have the potential to be protracted and complicated, new laws that took effect at the beginning of the year may have a significant impact on the process for many people. Of all the issues in a divorce, property division usually has the potentially to be the most contentious. Now, with new tax laws in effect, it could get even worse.
When it comes to filing for divorce in Maryland, most of our readers know that complex property division issues can take up more time - and money - than most want to think about. And, when it comes to property division, oftentimes the most contentious point of order comes down to the most important piece of property - the house.
The results of the recent Election Day in Maryland has brought about the prospect of a reality that thousands of residents have been hoping for - legal same-sex marriage. The vote in Maryland, along with a similar vote in Maine, has been lauded as another major step forward for the rights and privileges of gay couples and individuals. And many did not waste any time proceeding with wedding plans.
Prenuptial agreements have become more and more popular over the years, and it is not hard to see why. The divorce rate continues to hover around 50 percent, so anyone getting married in America these days has to know that almost half of marriages end in divorce. And anyone who is currently going through a divorce, or has previously, probably knows that there are many complicated issues that must be settled. That is where prenuptial agreements come in. The agreements, drawn up and signed prior to the marriage can make things much easier in the event that the marriage does end in divorce.
Sometimes a divorce can be amicable, simple and quick. Sometimes the process can be quite the opposite. But, whatever type of divorce a Maryland resident finds themselves involved in, an almost universal aspect of the ordeal will be determining property division. And, no matter how the division of property ultimately ends up, many times both parties will find themselves in a very different financial situation afterward - this can be true in both simple property division cases and complex property division cases.
We've all heard the saying, "good things come to those who wait." Well, actress Kate Winslet may have recently given that phrase a whole new meaning. Her ex-husband, director Sam Mendes, signed over a lavish New York City penthouse to the starlet recently, two years after the high-profile couple's divorce.
Everyone needs a little advice sometimes, right? And one of those times in life when Maryland residents are likely to reach out to someone is during, or after, a divorce. When a marriage reaches the point where divorce is the only option, people can face many different emotions. It can be scary to know that the relationship you have been so proud of and dependent upon is ending, and you will then face the prospect of once again making your way alone - at least for a while.
Our Maryland readers may know that the divorce rate among the so-called "baby boomers" is rising quickly. Most probably already know that the United States has one of the highest divorce rates in the world, and when it comes to a split between baby boomers, the situation is likely to involve a high asset divorce.
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.