Divorce is a significant life change that can occur anytime throughout the year. However, studies have shown that specific periods often see an increased number of divorce filings. Below, we discuss the most common times of year for divorce in Maryland and shed light on possible reasons behind these trends. January: The “new year, new life” effect. January is popular for divorce filings across various states, including Maryland. Many couples view the new year as an opportunity for a fresh beginning and a chance to make positive life changes. Consequently, some people may decide to end their ma ..read more

According to Statista, there were 1.6 divorces per 1,000 Maryland residents in 2021. If you are going through a divorce, you know that navigating the complexities of divorce is challenging, both emotionally and logistically. In Maryland, before deciding on the path forward, you need to understand the differences between the two primary types of divorce: limited and absolute. What is a limited divorce? A limited divorce, often seen as a legal separation, does not permanently end the marriage. Instead, it is a court-supervised separation where you and your spouse live apart but remain legally ma ..read more

Regardless of what brought about the end of a marriage, a divorce may address the disparity in income between spouses.  If the parties’ incomes are unconscionably disparate a court may look to resolve this disparity by an award of alimony. Suppose one spouse needs to or had to give up their source of income to focus more on the family and thus relied on the other spouse financially. The concept of alimony allows divorced spouses in Maryland with a lower income to receive monetary support even after divorce. Additionally, going through a divorce can be emotionally and financially taxing. R ..read more

Divorce involves various procedures, including the division of assets and property. Each state has varying laws to address property and liability division. Maryland courts have the power to resolve debt disputes involving debt associated with the acquisition of property or take other measures, depending on the circumstances. Still, dealing with debt could be tricky, especially after finalizing the divorce. Divorced couples might expect no involvement with the other party’s debt. However, a debt collector could legally contact them about their former spouse’s overdue payments. The impact o ..read more

Gray divorce, or divorce among adults aged 50 and older, can be a particularly stressful experience which is becoming increasingly common in the United States. This trend has significant financial implications, particularly for women. If you’re going through a divorce after decades of marriage, educating yourself on the many ways to protect your finances can ease the impact and provide some relief during this difficult time. Avoid these common mistakes  As a woman, you may have spent all or parts of your marriage out of the workforce. As such, you may be at a disadvantage when it com ..read more

Whether you call it a gray divorce or a silver splitter, the end of a long-term marriage between people close to or past the age of retirement is a complicated situation. Numerous couples who have raised families together and possibly paid off a mortgage during their marriage will choose dissolution to pursue their happiness during their golden years in a solo capacity. Gray divorces are subject to the same basic laws as any other divorce in Maryland, but they often have vastly different implications than divorces that occur earlier in life or after shorter marriages. Those who are contemplati ..read more

Greenwald, Joseph & Lake PA, “As Seen in Faces of Bethesda Magazine” THE FACE OF High-Stakes Divorce Cases – Jeffrey N. Greenblatt, 2023The post THE FACE OF High-Stakes Divorce Cases first appeared on Jeffrey N. Greenblatt of Joseph, Greenwald & Laake, PA ..read more

As a business owner, you may be worried about how your personal life is going to affect your business. For example, if you are contemplating marriage, you may be concerned about a potential financial impact if you and your spouse were to eventually divorce – something that happens to approximately one third of all couples in the United States. But, there is good news. You can protect your business in advance by making use of a prenuptial agreement. Let us look at some of the benefits of doing so. Considering Appreciation Successful businesses are likely to become more valuable over time. Witho ..read more

Even when you and your spouse agree it’s time for your marriage to end, the divorce process can be difficult. Emotions and stress often cause people to make mistakes that sabotage their divorce and make the entire process even more challenging. Knowing what some of these mistakes are, is the best way to avoid them.  Making decisions based on emotions It is normal to feel an array of emotions when going through a divorce. Even though this may be the case, you should not solely base decisions on emotion, especially decisions that will have long-term implications. For example, while the thou ..read more

Unless you already had a successful business when you got married, you inherited it, or your interest was gifted to you, your small business is part of your marital estate. If you get divorced in Maryland you will be required to list the value of the business as marital property. The higher the value of your business, the greater the value of the marital estate, which in turn increases your spouse’s marital share. Rather than merely looking at the revenue the company produces or the value of the assets it owns, unless you and your spouse can agree on the value, you will need a formal valuation ..read more