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Our Top-Rated Maryland High Net Worth Divorce Law Attorney in Elkton, Maryland
Focuses on Protecting What's Important!
A high net worth divorce in Maryland is a divorce in which one or both spouses have significant assets, such as businesses, real estate, investments, and other high-value property. These divorces can be more complex than typical divorces due to the need to divide and value these assets, as well as potential issues with spousal support and other financial matters.
If you are going through a high net-worth divorce in Maryland, it's important to seek the advice of an attorney who has experience with these types of cases. We can help you understand your rights and options and work with you to develop a strategy for protecting your assets and reaching an agreement that protects what's important!
In Maryland, divorce cases are typically handled in the Circuit Court in the county where one of the spouses lives. The process for a high-net-worth divorce will generally follow the same steps as any other divorce, including filing a petition for divorce, serving the other spouse with the papers, and attending court hearings. However, there may be additional steps involved in valuing and dividing the high-net-worth assets, such as hiring financial experts to evaluate businesses or real estate.
It's important to be prepared for the financial challenges that can arise in a high-net-worth divorce. This may include gathering financial records, creating a budget, and seeking financial advice from professionals such as your attorney, financial planner. or accountant. Working with a team of advisors who have experience with high-net-worth divorces can help you navigate the complex legal and financial issues involved in these cases and protect your interests.
Some of the assets that will be considered in a high net-worth divorce include the following:
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401ks, retirement accounts, and pensions, which are considered marital property
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Most high-net-worth people are owners of multiple properties like vacation homes. If you are such an owner, that particular property could be part of the equitable distribution process.
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By sharing a business with your spouse or running a business on your own, the business might be subject to asset distribution.
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Our "Beginning The Divorce Process" Checklist
Most of the work of a divorce involves separating your joint finances and assets. We have put together a basic checklist to help begin to understand and give you ideas about separating your finances and assets Click the checklist process image for your free download. For further questions and to book a consultation click below.
