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February 2018 Archives

How older people can avoid financial difficulty after a divorce

The rate of divorce for Maryland residents and others who are 50 and older has doubled in the past 25 years. Those who get divorced can benefit from taking steps such as inventorying their assets or asking for alimony as a lump sum payment as opposed to a monthly check. Asking that a former spouse take out a life insurance policy may also protect alimony payments.

Good prenuptial agreements can bring couples together

People planning for marriage in Maryland may be considering a prenuptial agreement but are concerned about the potential emotional fallout of the decision. Some individuals may fear that considering a prenup sets them on the road of preparing for divorce long before their marriage vows are completed. In some cases, it may seem as if one partner's family is putting pressure on the relationship and hoping for a failure. Despite many of the negative stereotypes and beliefs that persist around prenuptial agreements, when handled well, they can bring a couple closer together.

Divorce is no place for revenge

Maryland residents who are ending their marriages and have an acrimonious relationship with their estranged spouse might think that the divorce court is the perfect place to get revenge. However, there are multiple reasons a divorce should not be considered as a form of payback.

GOP tax bill could bring changes for people seeking divorce

Alimony, or spousal support, has always been a heavily contested matter in divorces for people in Maryland and elsewhere around the country who are reaching the ends of their marriages. Like other financial issues, such as property division, the negotiations over spousal support can be lengthy and difficult. However, spousal support issues may become even more complicated following changes to the U.S. federal tax code adopted as part of the December 2017 tax reform bill.