Bethesda MD Family Law Blog

The leading cause of stress in Maryland relationships is money, so it would seem to follow that the better off financially you are, the less likely you are to divorce. However, according to CNBC, experts observe that when an economic downturn occurs and couples are more likely to have financial struggles, the divorce rate decreases, only to rise again once the economy is on the upswing. Due to the financial aspects of divorce, couples are unwilling to add a destabilizing factor to an already uncertain economic situation, but once the financial situation improves, couples may find themselves on firmer financial footing, and divorce becomes a viable option.

More money does not necessarily equal fewer problems within the domestic sphere. Having a high income does not preclude you from also having expenses, and some couples find themselves strapped for cash despite a high income, which can put a strain on the relationship. Another possible source of strain is the long hours and travel often required of a high-income job that can cut down on the earner's time spent at home with the family. 

It is no doubt difficult to watch your loved one's physical and mental health deteriorate to the point of them becoming incapacitated. When such a point is reached, you understand the need for added assistance to ensure that they are cared for, yet seeing them lose their decision-making authority to another can be equally as difficult. A great deal of trust is placed in those who are named guardians, yet many in Rockville have come to our team here at Steven J. Gaba concerned that trust is being violated. You can only know this for certain, however, if you understand what authority an adult guardian is empowered with. 

Per Section 13-708 of Maryland's Estates and Trusts Code, an adult guardian is to be given no more authority than is necessary to provide for the demonstrated needs of their ward. Standard powers that are often given in such a relationship are the right to determine where the ward lives, and to use funds available from the ward's estate to see to said person's room, board, care, and education. The guardian must, however, exercise sound judgment in this so as to conserve whatever excess income they can for the ward's estate. In other words, your loved one's guardian should not intentionally be spending their excess money in the name of care if it is not absolutely necessary. 

The moment that you and your spouse choose to divorce in Rockwell, the value of your marital assets suddenly becomes very important. Your opinions with how much your assets are worth may differ from those of your soon-to-be ex-spouse, which is why the court will often rely on independent parties to perform valuations during divorce proceedings. Yet more important than who is valuing your marital assets may be when they are valued. 

Why would the valuation date have such significance? Imagine that your spouse established a business (with your assistance) during your marriage. Given your role in getting the company off the ground, you may be entitled to an ownership stake in it. Yet if tensions between you and your ex-spouse are high enough, they could reasonably attempt to sabotage or neglect their business in order to keep you from profiting from it. 

Co-parenting is rarely easy for families in Maryland once a divorce has taken place. However, creating a solid co-parenting plan is a step in the right direction, as it will provide a sound framework should you run into any disagreements. To ensure your parenting plan is a success, Very Well Family offers the following tips.

Have the right mindset