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When a couple in Maryland divorces, they will likely need to determine how to divide their assets, including retirement accounts such as a 401(k). Deciding on a mutually agreeable solution can be challenging for both parties, as it carries emotional burdens. However,...
When older adults in Maryland get a divorce, they face some financial challenges that are not as acute for younger couples, based mainly around the fact that they may have fewer earning years ahead to offset the financial effects of a divorce. When financial...
In Maryland and other states, divorce after age 50, known as “gray divorce,” is becoming the fastest growing group of divorcees, despite the divorce rate leveling out overall in the United States. Individuals who become single after 50 can face financial difficulties...
As tax season rolls around, many individuals paying alimony or spousal support in Rockville, Maryland, may be interested in knowing how the alimony will impact their taxes. In the past, the person who paid could deduct spousal support payments, and the individual...
The divorce process for high-net-worth Maryland couples requires the division of often complex marital assets. On top of working through who gets what, you and your tax adviser should examine future tax consequences of asset transfers related to the divorce. No...
Adjusting to life after divorce is hard for many Maryland families, regardless of financial status. However, families who have to deal with a drastic change in their financial situation after divorce might have a more challenging time. It can be a lot to cope with,...
If you live in Maryland and your marriage is headed for divorce, you are probably concerned about finances. One thing that you, and your spouse, will have to consider is the management of your retirement accounts. Not everyone has retirement accounts and their...
Divorce is usually an emotional process, and when you are a parent, it can become even more complex. For parents in Maryland and the Washington, D.C. area, there are special factors to contemplate when divorce is on the horizon. The child’s past experiences As parents...
