The Tax Cuts and Jobs Act reportedly caused a flurry of activity in Maryland divorce courts and others around the county at the end of 2018. Among its many provisions, major changes were made to the way alimony was to be handled for federal income taxes beginning in 2019. Matrimonial lawyers stated that the change prompted many couples to finalize their divorces so that they would be grandfathered under the old law. While the new provision is now in place, some tax experts have suggested that individuals need to also take a look at how alimony is viewed for their state income tax purposes.
Be wary of social media evidence in high asset divorce
Social media has become so entrenched in modern life that many Maryland spouses think very little about how their messages and posts might one day be used against them in a court of law. When it comes to high asset divorce, social media often plays a very large role in how the process moves forward. Being aware of the potential damage that could be done by the type of information shared online can help spouses make savvy decisions about how they use the internet and how they proceed in divorce.
What are the requirements for divorce in Maryland?
In Maryland, your marriage must meet certain requirements before you can get an absolute divorce. Although there are requirements for a limited divorce as well, only an absolute divorce will completely sever your marriage or allow you to remarry. To get an absolute divorce, your situation must include an appropriate residency, a recognized ground for divorce and the appropriate waiting period.
Amazon's Bezos and estranged wife in midst of high asset divorce
There are millions of people in Maryland and around the world who are customers of Amazon, the online retail giant. Jeff Bezos, the CEO and founder of the company, has an estimated fortune of $137 billion. Unfortunately, Bezos' 25-year marriage has ended and he is in the middle of a high asset divorce, complicated further by the absence of a prenuptial agreement.
Prenuptial agreements becoming more popular
Statistics on marriage and divorce have changed over the past few decades for couples in Maryland and elsewhere in the country. For example, individuals are waiting longer now to get married than in the past. Also, the overall divorce rate is leveling off, while some demographic groups are even seeing a decline. These changing views on matrimony have also led to a different perspective on prenuptial agreements for many.
