A Healthier, Smarter Approach To Divorce
Filing for divorce is often the action that triggers a chain of family law processes, including child custody, child support, spousal support and name changes, just to name a few. But divorce itself is primarily concerned with property division.
At Peeples Law, we are here to guide you through the entire divorce process efficiently and compassionately. Our goal is to help you re-establish yourself as a single person with financial stability and a continued healthy relationship with your children. Our firm’s founding attorney, Brandy A. Peeples, is an experienced divorce mediator and litigator. As such, she has the knowledge, tools, and experience to advocate for you in the way that best meets your needs and goals.
Dividing Assets And Debts In Divorce
Like most states, Maryland uses the equitable distribution model for marital property division. This means that jointly held assets should be divided fairly and equitably between both spouses (which doesn’t always mean a 50-50 split).
Generally speaking, most assets are considered marital assets unless they were obtained by one spouse prior to the marriage or understood as belonging to only one spouse (such as a family inheritance or a third-party gift given directly to one spouse). Examples of marital property that may be divided include:
- The marital residence or profits from the sale of the home
- Other real estate acquired during the marriage
- Retirement plans, pensions and savings accounts
- Cars and other vehicles
- Furniture and other household items
In most cases, judges will also equitably divide marital debt between both spouses in the same manner as property.
Not all assets and debts should be judged on face value. Some assets come with large tax implications or changes in value over time, and it is important to anticipate these issues before agreeing to any sort of proposed settlement. When you work with our firm, we will thoroughly review every detail of your divorce agreement to ensure that your settlement is fair and in your best interests.
Contact The Firm For Answers To Your Divorce Questions
From our office in Frederick, Peeples Law serves clients throughout Maryland. To schedule your consultation with an experienced family law attorney, call us at 301-494-1300, or fill out our online contact form.