A common question that we get asked early in the divorce process is: Is Maryland a 50/50 divorce state? While the question seems straightforward, the truth is that the term “50/50 divorce” requires clarification. Ultimately, the answer depends upon which issue we’re referring to: child custody or property division. Issue #1: Child Custody One area…
You’ve been married to your spouse for several years, even decades. You’ve made the decision to end your marriage, but you’re worried about what is going to happen to the house because you still have a mortgage. Who is going to live where? And what can you both afford? Even if both of you agree…
By: Jackie Daley, Broker/Owner – Jackie Daley Realty (Columbia, MD) As a Real Estate Broker, I frequently work with couples who are facing, or have previously gone through, a separation and/or divorce. When simultaneously handling a divorce and real estate transaction, the desire to “get it over quickly” often leads to bad decisions with long…
Under Maryland law, retirement plans are considered marital property while Social Security benefits are considered non-contractual benefits and thus non-marital property. Previously, Social Security benefits could not be distributed or assigned in a divorce proceeding but could be utilized to pay child support and alimony. In Jackson v. Sollie, a trial judge of the Circuit…
We all know the familiar saying that “A House is not a Home”. The structure that we humans live in becomes a “home” when there is family, security and love that exists within the walls. A “home” is where one feels secure and cared for, where it is ok to close the door and shut out the…
Divorce marks the end of a chapter in one’s life, as well as the beginning of a new chapter. Outside of the considerations made for children, divorce is essentially about finances and the division of property. Marital property is defined as all of the “stuff”, however titled, that is accumulated during the length of a…
Division of marital property is but one of many aspects of a divorce proceeding, yet possibly the most problematic. The more assets a couple shares, the more complicated the division becomes. When couples who live in Maryland file for divorce, they might contemplate selling the family home, splitting the rental income from the beach house,…
Very few people realize at the outset of a divorce proceeding just how complex the process can be when marital property includes retirement accounts. When couples get divorced, retirement benefits commonly form a substantial part of the marital property and often can be among the highest-valued assets that a couple owns.Dividing retirement accounts, such as…
Who Gets the Marital Home in the Divorce? There are financial costs associated with divorce, and sometimes those costs can be astronomical. But the non-quantifiable costs brought on by divorce can be even more devastating, namely the mental and emotional impact it can have on the family. Often, deciding what to do with the marital…
When filing for a divorce in Maryland, decisions are made regarding the fundamentals: marital property, alimony, and—if there is at least one minor child—custody and child support. Resolution of these issues is required no matter who you are, where you live, or how much money you make. But your personal wealth could become a major…