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.
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.
The topic of divorce was regularly in the year-end news for Maryland and elsewhere around the country. Many reports centered on the changes to how alimony would be treated for tax purposes, starting in 2019, and the possible surge to get divorces finalized before the end of 2018. Whether a couple's divorce is final or the proceedings are just starting, experts remind individuals of the importance of updating estate plans. This is particularly critical for a couple in the midst of a high asset divorce.
When a Maryland couple decides to end a marriage, there are many discussions about how assets will be divided between them. Accusations of lying or unfaithfulness may come into play while deliberations occur. However, most couples in the state or elsewhere around the country are not determining how hundreds of millions of dollars will be split. A couple in the midst of a high asset divorce in another state is awaiting a judge's decision about their case.
It is hard to be proactive about finances when the emotions surrounding divorce are still fresh. Individuals in Maryland who are in the process of a high asset divorce can be pursued by creditors for joint accounts incurred during the marriage even if is not their debt. Experts recommend obtaining three credit reports early to uncover any unknown liabilities that may surface.
These days, ending a marriage can be a costly experience, not only in Maryland but across the country. As if divorce wasn't stressful enough, the financial ramifications of a split can add even more stress to the experience. During a high asset divorce, dividing shared assets can be the subject of many disputes. The following tips may be helpful for those in this situation to better protect themselves financially.
Maryland married couples are certainly not immune to the many challenges and problems faced by other couples. When pursuing divorce, it's not uncommon to be concerned about one's future, how children will adapt and how finances will change. It's also natural to worry how well one will fare as a single person. A key factor to successfully overcoming the challenges of divorce lies in knowing what resources are available and where to turn for help when needed.
Maryland has its share of high-end divorces that require dividing property and allocating assets on a large-scale basis. Sometimes, the high asset divorce is a matter of public scrutiny due to intensive press coverage. Many such breakups, however, go essentially unreported due to the low-key nature of the wealth and personalities involved.
When a Maryland couple decides to divorce, part of that process involves determining the structure of their financial obligations to one another. That might include matters of child support, alimony or other ongoing payments from one party to the other. In some cases, payments may be tied to the care of a pet, which can lead to a great deal of contention down the road. An example is found in a couple who may be headed back to court to argue the details of their high asset divorce settlement.
When a wealthy couple decides to end their marriage, a great deal of focus goes into determining how to divide their accumulated assets. This is often a complicated matter, especially when a couple has many different sources of wealth. During a high asset divorce in Maryland, it is not uncommon for one or both spouses to wish to sell certain assets. Doing so, however, can complicate matters and should only be done under careful legal guidance.