Significant Assets And Complex Division
Division of significant assets such as businesses, real estate, collectibles and retirement accounts can be a highly contested issue in divorce. The outcome in your case may be key to your future financial security.
As a lawyer with more than 25 years of experience in valuing and dividing businesses and assets in divorce, I understand Maryland law and how local courts have ruled in marital property division cases. Whether you are looking for a skilled negotiator or an aggressive advocate in any county in Maryland, I am here to protect your financial interests.
Dividing Marital Assets In Maryland
Absent a prenuptial agreement that states otherwise, the following are examples of valuable assets that may be subject to division in divorce:
- Businesses — If the business was started and/or conducted during the marriage, it is marital property. As marital property, it is subject to division, even if business documents are in only one spouse’s name. If the business was started prior to your marriage, and continued during the marriage any increase in value during the marriage is subject to division.
- Real estate — Real estate acquired during the marriage is marital property, even if only one spouse’s name is on the deed. If the home was owned by one spouse prior to the marriage and the parties continue to contribute to the mortgage payment during the marriage, any increase in value to the home during the marriage is subject to division between the parties.
- Retirement accounts — Retirement savings accumulated during the marriage, including military retirement benefits, are marital property. Additionally, you may be entitled to death and survivor benefits. These assets are subject to division using a qualified domestic relations order.
- Other assets — All assets accumulated during the marriage are marital property with the exception of gifts and inheritances.
- Debts — Debts accumulated during the marriage may be marital property depending how the debts are individually titled.
It may not be practical or even desirable to divide every asset. For example, if one spouse earns his or her living by operating a business, selling the business may not be a viable option. It may be possible to negotiate a marital property settlement by swapping assets of equal value. Having a skilled negotiator in your corner is key to protecting your financial interests in divorce.
I use business valuation and other experts to ensure marital property is fairly and fully valued. I am also experienced in issues regarding dissipation of assets, where one spouse has deliberately concealed assets.
For More Information About Maryland Marital Property Division
I have law offices in Annapolis and Bowie, Maryland.