It's true that every marriage is unique and deals with unique expressions of problems, but marriages are made up of humans who tend to make the same type of mistakes. Humans are only a few thousand years removed from nonverbal communication. Therefore, facial expressions, body language and tone are still very important parts of the communication toolbox. These experts go over how you can pay attention to these nonverbal cues.
Parents are linked to each other forever through their children. This means that fights you had when you were together can still come up even though you are no longer romantically involved. For instance, money can still be a major source of contention and many people fight over child support.
Let's imagine, for example, you receive $400 a month in support and the other parent claims that you are wasting that money on things for yourself. You might feel pressured to somehow justify your spending or hand over receipts to prove how you are handling support, but before you do this, you should know that unless a court has ordered you to do so, you have no obligation to provide any accounting for how child support is spent.
Every divorce has the potential to be emotionally, physically and financially life-changing. However, when you and your soon-to-be ex are dealing with complicated assets or large sums of money, it is the financial aspect that can take precedence.
When money is at the crux of your divorce, every decision you make can have financial ramifications. While it is said that money cannot buy happiness, in a divorce, it can provide security and serve as a reflection of each person's contribution to the marriage. Because of this, battles over money in high-asset divorces can be contentious, lengthy and complicated.
If you're a regular follower of our blog then you may have read last week's post in which we discussed how to determine whether a business is considered separate or marital property. As we explained in the post, which can be found here, marital property is divided equitably during divorce proceedings. In order to do this with a business, though, it must first go through the valuation process.
What is the valuation process, you may be wondering? Business valuation, as the name suggests, is a process by which value is assigned to a business. In cases of dissolution of marriage, a business that has been labeled marital property will be assessed a value that will then be divided between spouses for the purposes of equitable distribution.
Everyone says that getting a divorce is an emotionally charged process, filled with contentious moments and bitter disagreements. But when a large amount of assets are on the line, this statement becomes all the more true, making divorce proceedings even more challenging for high net-worth individuals.
Consider for a moment that you are a high-asset individual due mostly in part to your successfully run small business. You are currently in the middle of divorce proceedings and have reached the part of the process where you must divide your marital assets. Here's where things get difficult, though. Your spouse argues that your small business should be considered marital property while you consider it to be your own personal property because you started the company.
Over time, it's inevitable that a person's financial situation is going to change. This is particularly true for divorced or single parents. As a child grows older, their needs change - it may become more expensive to feed and clothe them. Even a sudden illness or severe injury can leave a custodial parent asking the very important question above:
I need more child support, how do I go about requesting more?
If you're a parent who was recently divorced or separated from your partner, your head may still be swimming with a number of questions. If this is your situation, then you've come to the right place for answers.
At the McKeon Law Firm, we pride ourselves on taking the questions our frequent blog readers ask and providing answers. If you are new to our blog, you should know that because everyone's situation is different, we can only provide broad answers to your questions, which is what we're going to be doing in today's post with this question:
For a lot of people, becoming a parent is a wonderful thing. Most can hardly wait to start spending time with their children and teaching them the ways of the world. While this may be easy for married parents, for unmarried parents, the process is far more difficult.
For unmarried parents, a father may encounter pushback from the child's mother such as denied requests to see the child or an inability to retain custody of the child for any length of time. Though it may be possible for some unmarried parents to work through custody and visitation schedules without the help of a judge; in situations like the one we just mentioned, the involvement of the court may be necessary.
When most people think of a couple going through a high-asset divorce, the thought of one spouse hiding assets usually comes to mind. As we have stated before, in a matter of a few discussions with a family law judge, a high-asset individual can see their wealth shrink quickly, leaving them with less than what they had been used to for all those years. Hiding assets may appear to offer a way to protect the wealth a high-asset spouse may feel they are entitled to.
Hiding assets is against the law here in Maryland, though, meaning any spouse who chooses to hide assets during divorce proceedings could face serious legal consequences as a result.
Going through a divorce is hard enough on people after you consider the emotional struggles couples face and the overwhelming burden of dividing assets and liabilities. But what truly makes divorce a challenge for Maryland residents is a law most people don't know exists until they have to face it during divorce proceedings.
We're talking about Md. Code, Family Law § 7-101; and while it might seem innocuous, it can create a major inconvenience for couples trying to divorce. That's because the law requires couples, no matter what grounds are established, to bring a witness to support their claim for divorce. To many, this law is not only cumbersome but archaic as well, which is exactly what some Maryland politicians brought up recently to the state legislature.