Bethesda MD Family Law Blog

Maryland divorces often result when trust between spouses breaks down. When this occurs, one or both of you may take steps to hide assets from the other in an attempt to protect yourself. In complex divorces, the value of uncovered assets can make a significant difference in the settlement amount. At Steven J. Gaba we often assist high net worth clients identify and protect specific assets.

According to Forbes, it is beneficial to inventory accounts, real estate and other assets as soon as you know the divorce is coming. This can help ensure the resolution is an equitable division of property. There are several ways your spouse can hide assets.

It may come as little surprise that divorce proceedings in Rockville often involve a good deal of emotion. In many cases, that emotion in manifest in child custody hearings. Parents often enter into such proceedings prepared to do battle, as they are sure that their kids' best interest is only served by staying with them (and, be extension, not being with their ex-spouses). Yet one might wonder whether their motives are less driven by what they believe to be best for their kids and more by their feelings towards the circumstances that led to the end of their marriages. Ultimately, whatever the reason behind a custody dispute, the hope is that the emotion that goes into them will not prompt one parent to do something rash. 

That appears to be exactly what happened in the case of a Missouri woman who is currently facing felony child abduction charges. Authorities say that she took off with her daughter (over whom she does not have custody) before subsequently being apprehended in North Carolina (although it did take three years to find her). Since the woman's arrest, two other women have also been arrested for hindering the investigation (both have since been released on bail). Although they share the same last name as the child's mother, the women's exact relationship with her was not detailed. 

Even when divorce is the best option for a couple, it is still emotionally and financially difficult in many cases. There are often advantages in using alternative dispute resolution, but Maryland couples who are in high conflict may think the courtroom is their only option. However, ADR is often a great approach for couples with difficulty agreeing on how to separate.

An article in Divorce Magazine.com addresses the myth that ADR is only an option for amicable couples. While it is tempting to view mediation as open only to parties who are on friendly terms, the opposite is true. Litigation expenses can skyrocket in a high conflict divorce. Furthermore, in divorce proceedings, a judge determines the final terms. In a hostile separation, those terms may be unlikely to be followed.

There are a variety of factors to consider when it comes to splitting up with your spouse, such as the financial impact and how this move may affect your kids (and even your grandchildren). The emotional toll of divorce can be tough, and the financial impact of a divorce should not be overlooked, either—especially for those who have a high net worth. Moreover, more and more people are ending their marriages at an older age, which can bring up additional concerns. However, by taking the correct approach to your divorce, a brighter future may be around the corner.

Sometimes, people feel so overwhelmed by the various stressors they may have to deal with during the divorce process and simply decide to stay in the marriage. For example, they worry about the financial toll of divorce and how their assets may be divided by the court. Moreover, they may worry that various age-related issues they are dealing with, such as health concerns, will make it especially hard for them to deal with divorce at this time.