Equitable Distribution

What Can I Do if I Think my Maryland Marital Settlement Agreement is not Reasonable?

July 29, 2019 | by Anthony A. Fatemi, LLC

The days and weeks that immediately follow the breakup of your marriage can be an incredibly trying time. You may feel hurt, confused, angry, frightened, overwhelmed, betrayed and a host of other emotions. You’ve experienced a great trauma, and like anyone living through that kind of pain, you may not be at your best in terms of decision-making. That includes making decisions like signing a marital settlement agreement. This is just one reason among the many why it pays to have a skilled Maryland divorce attorney on your side. You can trust your attorney to handle your legal affairs while you concentrate on managing your life.

Even if you’ve not heeded that advice, have made a bad decision by signing a bad settlement agreement without consulting an attorney, and later come to conclude that were taken advantage of, you still may have options. As one recent case illustrated, depending on just how extremely one-sided your marital settlement agreement was, you may be able to get it invalidated as ‘unconscionable’ under Maryland law.

In the recent case, the husband, G., and the wife, J., were married for six years when they separated in early 2015. Only a few days after the pair parted ways, the husband gave the wife a proposed marital settlement agreement, which the husband’s attorney had drafted. The agreement gave the husband the marital home, two rental properties, two cars, two motorcycles and all of the retirement accounts. The wife got a one-time payment of $7,000. Additionally, the agreement stated that the wife forever waived her right ever to pursue an alimony claim, either rehabilitative or permanent.

Divorce Over Age 50 Raises Unique Financial Concerns for Maryland Residents

April 27, 2016 | by Anthony A. Fatemi, LLC

It is not uncommon for a married couple to spend the first 25 to 30 years of their life together working and saving money to enjoy in retirement. Over the course of their lifetime, spouses often invest money in stocks, 401K plans, education plans, pension plans, real estate, and other investment opportunities. Ideally, the couple will have an opportunity to enjoy the results of their labor in retirement together. But an interesting phenomenon is taking place. A large percentage of the baby boom generation is seeking to divorce, resulting in some unexpected financial consequences. If you are considering a separation or divorce at any stage of your life, it is extremely important to protect your financial interests, including any investments. You are encouraged to contact an experienced family law lawyer, someone who understands the local divorce laws in Maryland.

According to a recent article, since divorce among people age 50 and older is so widespread, it is becoming known as a “gray divorce.” The author points out that divorce for this age bracket raises several unique concerns involving how each spouse will retire now that the so-called “nest egg” must be split in two. For instance, in a typical divorce, Maryland law allows for the periodic payment of alimony to one spouse. The ultimate goal of alimony is to give the “supported spouse” an opportunity to become self-supporting. When a court awards alimony, it is intended to be “rehabilitative alimony” for an allotted period of time to enable a dependent spouse to become self-supporting.

Divorcing in Maryland: What To Do With The Family Home?

December 28, 2015 | by Anthony A. Fatemi, LLC

Maryland is an equitable distribution state. This means that in divorce, property and debts acquired during the marriage are subject to “fair and equitable” division (subject to limited exceptions). The law does not guarantee that marital property will be divided equally. For the most part, marital property includes items such as bank accounts, businesses, homes, automobiles, stocks, jewelry, furniture, retirement plans, pensions, and other property acquired during the marriage. Interestingly enough, Maryland does not include the value of professional degrees or licenses earned during the marriage.

Based on this list, it should be clear that a couple’s marital property potentially could be worth a great deal at the end of a marriage. If you are considering separating from your spouse, it is important to preserve your interests in, and rights to, assets acquired during the marriage. One of the best ways to protect your legal and financial rights is to speak with an experienced Maryland family law attorney as soon as possible.