As many parents in Maryland are well aware, the cost of college tuition is continuing to skyrocket in this country. As a result, many parents these days begin putting away money for their children's college education when the bright, promising scholars are still in diapers. Putting away money for college is difficult for many families, and when couples choose to divorce and finances and relationships are strained, this can become nearly impossible.
If you know anyone who has gotten divorced in Maryland, they will likely have some advice for you. For most people, divorce is a process that is full of lessons. Fortunately, with the proper guidance, many people can benefit from these lessons during the divorce itself rather than having regrets about how things were handled later on.
One of the most complicated steps of the divorce process here in Maryland is dividing assets and liabilities. Maryland law requires that all marital property must be divided fair and equitably, and while that seems simple enough it is rarely as easy as splitting each asset into two. The process can be even more difficult when the couple has complex or high-value assets--such as business stakes, stock portfolios, art collections, etc. And, unfortunately, hidden assets and fraud can be a problem in the divorces of those with high-net worths as well as those of more modest means.
When married couples in Maryland begin inching toward divorce, many spouses begin to wonder whether they should file for divorce before their partners. Some people, reluctant to be the one to officially kick off a divorce, decide to wait for the other person to take the step. Others, preferring to feel as if they are the ones ending things, rush to be the first to file.
Many Maryland residents may be aware of the growing trend of Baby Boomer divorce. From 1990 to 2010, the number of divorces among those 50 and older doubled. In 2010, 25 percent of divorces involved people in that age group. There are a number of factors driving this trend, but what we are going to discuss are some of the unfortunate legal and financial issues people face when they divorce in their 50s and later.
One of the most difficult issues for many divorcing couples in Maryland is deciding what to do with the marital home. While Maryland state divorce law requires a fair and equitable division of all joint assets, selling a house and splitting the proceeds down the middle is not always feasible or practical. Negotiating a property settlement can be very complicated and the stakes are high.
Tax season has been delayed this year because of changes to the IRS's computer software, and while this holdup may have been frustrating for some, for those who are in the midst of a divorce in Maryland it may have given them the time they need to sort a few things out.
Many people in Maryland remember hearing about the infamous affair that "Twilight" film star Kristen Stewart had with Rupert Sanders last summer. Sanders and Stewart had recently worked together on the set of "Snow White and the Huntsman," which he directed.
One major issue that concerns divorcing couples here in Montgomery County is health insurance. Often, the entire family is covered by one spouse's health insurance plan during the marriage, and once a divorce is filed this security blanket may completely unravel.
Throughout October, Maryland and the rest of the country recognize Domestic Violence Awareness month. Domestic violence comes up not only in criminal court here in Montgomery County, but also in family law court as spousal abuse is involved in about one in five divorces in the country, according to recent estimates.