How do I best prepare for a divorce in Maryland which involves complicated financial issues, including significant liquid assets, real property, a monetary award demand, retirement funds, an alimony demand, and real property?

Contact me today

Answer

If you are considering separation, consult with a lawyer at that time. Don't wait until after you've separated. Once you retain a lawyer, review any contemplated changes to the financial status quo with him/her before taking any action.

Obviously, retain counsel who is experienced. Your lawyer will help you construct a team, which may include a business evaluator, a forensic accountant, a real estate appraiser, a financial planner and others. Your lawyer will ask you to supply documentation of income, expenses, assets and liabilities. You will need to provide tax returns (business and personal), bank statements, credit card statements, loan applications, brokerage house statements and other documents. Obtain these records promptly so your lawyer has a comprehensive list of all of your holdings, however titled and whenever acquired. Locate the documents which establish when and how you acquired each asset, so that a determination can be made if any assets currently in existence were acquired (in whole or in part) before the marriage. Certain assets acquired during the marriage (by inheritance, gift from a third party, or excluded by valid agreement) may not be marital property. Providing records of how and when items of property were obtained may give your lawyer a basis to claim that some of your assets do not belong in the "marital pot." Keep good records of your expenditures so that a fair assessment can be made of your lifestyle and standard of living.

Remember, the process of disentangling can take a long time and be emotionally charged. 

Disclaimer:

The answer is intended to be for informational purposes only. It should not be relied on as legal advice, nor construed as a form of attorney-client relationship.

Other answers about Family Law

Stacy Heard

When Do Washington State Courts Have Jurisdiction In International Child Custody Cases?

International child custody cases can get complicated, and the question of jurisdiction is one of the key issues. When parents who live in Washington …Sponsored answer by Stacy Heard

Julie Hottle Day

How does divorce impact my business or business assets in Virginia?

Businesses and professional practices, including their assets, may be considered part of the marital estate in Virginia whether or not they are owned …Sponsored answer by Julie Hottle Day

Joshua K. Friedman

How do I value a business in a Florida divorce or family law for purposes of equitable distribution or property division?

In Florida, a business or corporation is part of equitable distribution or property division pursuant to Florida Statute Section 61.075. You first …Sponsored answer by Joshua K. Friedman

Call me:
410-962-8343

Contact me

Required fields are marked with an asterisk (*).

To: Sally B. Gold Super Lawyers: Potential Client Inquiry

The information contained in this web site is intended to convey general information. It should not be construed as legal advice or opinion. It is not an offer to represent you, nor is it intended to create an attorney-client relationship. The use of the internet or this contact form for communication is not necessarily a secure environment. Contacting a lawyer or law firm email through this service will not create an attorney-client relationship, and information will not necessarily be treated as privileged or confidential.

Page Generated: 0.23794484138489 sec