THE DIVISION OF MARITAL PROPERTY IN DIVORCE: The How and Why
Creating a settlement is often the most complex and emotional part of the divorce process. A complete settlement agreement may address many factors, including but not limited to:
- division of property;
- marital vs. non-marital assets;
- continuation/discontinuation of health insurance;
- tax claims for minors and other issues;
- disposition of pension plans and 401k assets;
- child support payments;
- tuition payments;
- custodial rights and visitation;
- use, sale or assignment of marital home;
- property settlements; and
- division of debts.
Looking at this list, it’s easy to see why it can be difficult to arrive at an equitable, or fair, financial settlement on your own. Therefore, working with an experienced divorce financial mediator can streamline the process. Consequently, it may also help lessen the time and money spent on the litigation process.
How Divorce Financial Solutions Can Help
At Divorce Financial Solutions, we believe it is very important for jointly negotiated separation agreements to be fair, not just equal. In other words, both parties should feel comfortable with the settlement that is reached. A lawyer is able to provide you with legal advice relating to your divorce and division of property, and can also draw up needed legal contracts for your property settlement. However, attorneys lack the formal training and licensing in finance to offer helpful products or the best advice about how your settlement will affect your finances long-term. So, we will work with you and an attorney to make sure you both understand the financial details and outcomes of your divorce.
Our Experience and Service
The financial implications of a divorce are serious. Therefore, it is important to approach negotiations with accurate facts in hands to help stop emotions from ruling the process.
Our Certified Consultant for divorcing parties, Veralynn Morris, has worked more than thirty years to provide financial guidance to divorce clients in Frederick, Washington, Allegany, Garrett, Howard, Carroll, Montgomery, Prince Georges, Anne Arundel, St. Mary’s, Baltimore and Harford Counties in Maryland.
Additionally, Veralynn takes a personal interest in every case to help plan for and reach her client’s financial goals. Because of her personal touch, she is able to provide the best advocacy in individual clients’ best interests. Veralynn also creates solutions that are beneficial to all parties through her role as a financial mediator.
Does Divorce Financial Solutions provide legal service?
No. Veralynn is not an attorney, and cannot provide legal counsel or advice to anyone regarding a property settlement. If you have legal questions about your property settlement, you should consult an attorney. However, we are able to provide a list of attorneys to contact if needed. Remember, a trained CDFA® provides financial solutions and advice, not legal services.
Contact us with any further questions regarding property settlements.