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divorce Archives

Tips for dividing a 401(k) in a divorce

A retirement account might be one of the most valuable assets a Maryland couple needs to divide in a divorce. To avoid paying unnecessary taxes and penalties, it is important that the spouses take steps to divide the accounts correctly.

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.

Health insurance may be a forgotten issue in divorce

Divorcing Maryland couples have a lot of legal issues on their plates such as deciding on child custody and support, alimony, who gets the house and how to divide other marital property. The last thing on their minds is probably health insurance coverage.

Support team and honesty aid people during a divorce

Many Maryland residents have had the experience of going through a divorce, but each one represented a unique set of personal circumstances. Because ending a marriage naturally creates a divisive and emotional atmosphere, people could benefit by surrounding themselves with supportive friends and advisers and by being honest with themselves and others.

Why January is a popular month for divorce

Every year, lots of couples start the new year in Maryland by filing for divorce. Legal experts theorize that spouses want to wait until after the holidays to separate. For those with children, it can be difficult to talk about divorce during Christmastime.

How going through a divorce can affect credit

While filing for divorce in Maryland will not automatically cause credit scores to fall, the separation process can make it more difficult for exes to borrow in the future. Divorce can affect credit in several ways, but many of the negative consequences may be avoided if spouses make decisions based on sound advice and are realistic about their financial situations.

Divorce can lead to expanded networks of family relations

Over the decades, an increasing number of Marylanders have ended their marriages in divorce. Divorce doesn't mean a family stops growing; on the contrary, the expanded understanding of family that accompanies divorce often includes stepparents, stepchildren and half-siblings. American families are growing due to the prevalence of divorce with a more complex and larger system of relationships between family members.