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property division Archives

How to preserve wealth obtained through property division

For many Maryland residents, the process of dividing marital wealth is a primary focus during a divorce. Unfortunately, too few spouses give proper consideration to how they can preserve the wealth obtained through the property division process. Having a plan in place to regain financial stability following a divorce without tapping into one's financial foundation is essential. The following tips can help individuals learn to regain financial stability in the months and years that follow a Maryland divorce.

How to prepare for the aftermath of property division negotiation

When it comes to working through the financial aspects of a divorce, few things are more important than having a comprehensive budget in place. Far too many Maryland spouses move through the property division process without a clear idea of where they currently stand in a financial sense, much less where they need to be in the years to come. Understanding both current and projected expenses is key to reaching a settlement that is in line with one's needs, both now and in the future.

Sometimes, property division conflicts occur years after divorce

Once the bottom lines have all been signed and the dust has settled, most Maryland spouses believe that their divorce is over and they are free to move on with their lives. In reality, however, there are instances in which property division issues can continue to create problems, even years after the divorce has been made final. The following example is just one of many issues that can arise after both spouses have moved on and made headway in their individual lives.

Property division: Deciding whether to stay or to go?

Addressing the family home is one of the top priorities for many Maryland couples who are going through a divorce. This is a property division matter in which there is no clear "right" or "wrong" path. Even when selling the home is clearly the best possible financial move, there are cases where one spouse will feel strongly that staying put is the best way to go. What is most important is that no spouse reaches a decision about the family home without being fully informed of all of the pros and cons associated with each option.

How Bitcoin could impact property division process

Few Maryland residents are aware of the technological advancement associated with cryptocurrencies. This field focuses on providing clients with the ability to conduct financial transactions with anonymity. Unfortunately, some spouses who are facing a divorce will try and use Bitcoin and similar platforms to attempt to shield assets from the property division process.

How does no-fault divorce impact property division?

Many Maryland residents are familiar with the concept of no-fault divorce. This is the legal term used to describe a path to ending a marriage that does not require one party to claim that the marriage was broken due to the actions of the other party. It is a simple legal statement that both parties agree that their marriage is beyond repair and that both are ready to move on. No-fault divorce can make the process of ending a marriage far easier for many couples, including aiding in the property division process.

Protecting against dissipation of assets during property division

For many Maryland couples, dividing marital wealth is anything but a simple matter. Often, one spouse feels incredibly wronged and will go to great lengths to deny his or her partner a share of existing marital wealth. During property division, it is important that all spouses check for signs of dissipation of assets and prepare to take action if it appears that the other party has intentionally depleted marital wealth.

Post-property division downsizing can be a positive move

For those in Maryland who are preparing to divorce, finding new living arrangements can be a top priority as well as an area of concern. Once the details of the property division settlement have been ironed out, many spouses will find that they need to downsize in order to maintain financial stability. For those who feel a connection to their family home, the idea of moving on to a smaller or less elaborate property can seem depressing.

Man's legal settlement subject to property division

When a Maryland couple prepares to divorce, both spouses understand that much of the wealth accumulated during the course of the marriage will be subject to division. In fact, the property division process is one of the primary areas of focus in any divorce. Many property division matters are simple, but there are some circumstances in which things can become incredibly complicated.

How property division can impact retirement planning

Moving through a divorce can be a challenging time for many Maryland residents. For those who are also nearing retirement, the process can be even more stressful. With fewer years left to absorb financial losses, property division becomes a critical component of transitioning from married to divorced.