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January 2019 Archives

Financial reasons to re-think a divorce

Couples in Maryland often have valid reasons for splitting up. Even so, it's generally advised -- as long as an unsafe domestic situation doesn't exist -- that spouses who've reached a point where divorce is being discussed take a moment to consider the full financial implications associated with untying the knot. This doesn't mean that couples should stick things out just to avoid financial challenges. However, it never hurts to be fully informed about what a newly single life may actually look like.

New year brings spike in divorce filings

It's not unusual for individuals in Maryland to resolve to make improvements in their lives with the start of the new year. For some married couples, this includes a personal resolve to end a marriage that's no longer working. In fact, so many couples opt to kick off the new year by untying the knot that the first Monday of January is unofficially referred to as "Divorce Day" by family law attorneys.

Do you need a protective order during divorce?

Going through a divorce can place enormous pressure on anyone, and that pressure may cause an otherwise reasonable person to act in surprising and dangerous ways. No matter how well-grounded a person may seem, when crisis hits home, they may turn into a completely different, volatile person.

How new tax rules may influence a divorce settlement

For more than 70 years, Maryland residents and others who receive alimony were required to claim it as income. Those who paid alimony were allowed to use it as a tax deduction. However, this is no longer the case as of the first day of 2019. Other changes to the tax law related to mortgage and SALT tax deductions could also play a role in how a divorce settlement is structured.