Most couples who are going through a divorce in the state of Maryland will need to work through and decide how to divide any assets and property the couple has purchased during their marriage. The goal is that these assets are divided in a fair and equitable way. For example, if the couple has approximately $100,000 equity in the family home and another $100,000 in stocks, one spouse may get the house and the other spouse the stocks. But if the couple owns a business, the division of this asset is often more complex than dividing other assets. If you are going through a divorce and you and your spouse own a business, call Peerless Law to speak with a divorce lawyer Frederick, MD client’s trust.
One of the factors that can make dividing a business difficult is that the value of the business may fluctuate from one week to the next, depending on the nature of the business. There are other factors that the courts will look at when determining how the business should be divided.
The first factor the court will determine is whether or not the business is considered marital property. If one spouse started the business before the marriage, and all of the profits and any assets the business owns were kept entirely separate from other marital assets, the courts will probably deem the business as separate property and not part of the marital estate. In other words, the business is not an asset that needs to be distributed with other marital assets per the laws of the state of Maryland.
However, if the business was started during the couple’s marriage and assets from the business were in joint accounts or if any profits made from the business were used to pay marital debts and expenses, then the courts may deem the business as part of the marital estate and distribute per the laws of the state.
A Fredrick, MD divorce lawyer can evaluate your information and determine if the business owned by you and/or your spouse should be addressed in your divorce.
If the business is determined to be part of the marital estate, the next step will be to determine its value. If both spouses agree to the value and the court agrees the amount is fair and reasonable, then there should not be any further action necessary. Unfortunately, it is not often that easy and each party usually disagrees on what the value of the business is. That means the court will have the final decision.
There are a few ways this may occur. The court may order a professional appraiser to determine what the fair market value of the business is. The appraiser will include both the present dollar amount as well as include what the projected future income of the business will be, current capital and assets, and even the “goodwill” of the business, such as its reputation and/or the value of the name of the business.
Going through your divorce can be a hard time. You find yourself in a situation you maybe never imagined. A lot goes on. Your divorce lawyer in Frederick, MD, could be talking to you about legal proceedings. At the same time, you may have to work on packing up and finding a new place to live.
You will likely experience a lot of emotions during this time. The Peeples Law Group wants you to know that it is okay to feel what you are feeling. Compiled here are some tips to help you get through this tough time.
The mourning process of a divorce can feel like it is never-ending. You can experience so many emotions, ranging from anger to guilt, to disappointment, to sadness.
You may want to shut those feelings out altogether. However, feeling them can help you move forward. Daily journaling can help you experience your feelings and process them.
It is important to do things for yourself as well. Processing feelings are important, but you don’t want to spend all your time trapped inside thinking about your divorce. Do something you love. Pursue a hobby you’ve always wanted to try, or get outside.
Activities you enjoy can show you there’s a life beyond divorce.
Don’t suffer alone. Isolation can lead to you cutting yourself off from socialization altogether. Talk to your friends or family about how you are feeling. They will likely want to offer you help and support.
Be sure you talk to your divorce lawyer in Frederick, MD, too. The process can be long and draining. If you are feeling exhausted or upset in a particular meeting, speak up. They can give you a break or some time to process.
The Peeples Law Group knows that this is a tough time. Communicating how you are doing can help a lawyer adjust a meeting to suit your needs.
Divorces can feel extra difficult if you have kids involved. However, it is important to keep communicating with them through the process. They can be more observant than you think. Being open with them can help them feel included.
While it is important to be open, you should do it in an age-appropriate way. Also, don’t involve conflict with your ex if you can. Your spouse will always be your kids’ other parent. Focus on rebuilding the new future together.
Many divorces go through without all the muss and fuss of nasty contention. Both spouses agree on property division, debt division, child custody, and child support, either on their own or after going through mediation or arbitration. If you want your divorce to be amicable, a divorce lawyer in Frederick, MD, from Peeples Law Group can help you do that.
The only time a divorce goes to trial is if both spouses can’t agree on certain points. You may agree on everything except who gets to keep your dishes; that’s enough for you to have to go to court, where the judge will decide who will hang on to them.
This used to be the case, but it no longer is. Every state has a form of “no-fault” divorce available for people who simply want to cite irreconcilable differences as the reason they’re divorcing. A Peeples Law Group divorce lawyer in Frederick, MD can walk you through the relevant law.
There’s often a great deal of grief through and after the divorce. A divorce ends something that you meant to be forever with the one person you loved more than anyone else in the world. That’s worth grieving, even if you were the one who initiated the divorce.
Just because you were the primary breadwinner, you’re not automatically entitled to more of the assets in your divorce. Your spouse may have contributed in non-material ways, such as taking care of your children, helping with homework, fixing meals, doing the laundry — including yours, keeping the house clean, and more. That non-material contribution has real value. You are both entitled to an equitable division of assets. Your divorce lawyer in Frederick, MD, can help you work out an agreement with your spouse on the division of assets and debts.
Before you go into battle to keep the marital home, consider what it’s going to cost going forward. You’ll have to make the mortgage and property tax payments on your own. You’ll have to pay for homeowner’s insurance and all the maintenance and upkeep the house requires. You’ll have to do it on your salary alone. If and only if you’re prepared financially to do all that, you can consider fighting for your home.
To learn more about asset and property division and other issues that need to be decided in a divorce, contact Peeples Law to meet with a skilled Frederick, MD divorce lawyer. Call our office today.
When you are going through a divorce, you have to eventually come to agreements on many issues, such as property division, child custody, and spousal support. Here are a few tips for doing this peacefully.
Getting divorced is a stressful process and can cause you to feel a wide range of emotions. However, if you let your emotions get the best of you, your spouse and his or her lawyer may use that against you. They will learn what your triggers are and put you at a disadvantage during the negotiation process. That is why you should try your best to maintain your composure and think rationally. If you need help getting control of your emotions, consider talking to a therapist.
In divorce negotiations, it is common for people to only focus on what they want. After all, why should they care about what their spouse wants? However, if you take the time to ask your spouse what he or she wants and be willing to compromise the process could go much smoother.
To you and your spouse can’t communicate without getting into a screaming match, your divorce lawyer in Frederick, MD can just negotiate with your spouse’s lawyer.
A divorce is never easy, but a divorce lawyer in Frederick, Maryland can make the process a little bit smoother. When you contact a lawyer, you get experienced legal advice and a guide for how you should proceed with your case – and you learn what to expect next in your divorce proceedings.
But not everyone can see their divorce coming before they’re hit with the legal paperwork. The best way to prepare for a divorce is to recognize the warning signs: It gives you time to cope with the news, and – more importantly – time to reach out to a qualified divorce lawyer before your case becomes overwhelming.
Read on to learn more about some warning signs that might indicate that a divorce is coming, and see how you can prepare yourself by reaching out to a divorce lawyer in Frederick, MD.
At Peeples Law Group, we understand that divorce is a difficult process. However, we also know the importance of being legally prepared for the worst-case scenario. When you notice one or more of the above signs, it could hint at divorce on the horizon. It’s always better to be prepared, and it’s always better to have a reliable legal team on your side before things get too chaotic.
Reach out to us today to see how a divorce lawyer in Frederick, MD can help you prepare.
One issue many people overlook as they are examining all the issues in their divorce is the division of marital debt. Payment of debts during and following a divorce is often a difficult issue to resolve. The reality is that both spouses may struggle financially during a divorce, simply because one household has split into two separate households, each of which has its share of expenses. Since non-payment of debts can have such a lasting impact on your credit and your financial future, you must enlist the assistance of an experienced divorce lawyer in Frederick, MD who can help you reach an acceptable resolution to the payment of your marital debts.
Dividing marital debts in your divorce is just as important as dividing marital property. If you and your spouse have any joint car loans, mortgages, personal loans, credit card accounts, or lines of credit, you both are financially responsible for those debts. This means that even if your spouse is supposed to pay a particular debt, but he or she doesn’t do so, you are still legally responsible for paying that joint debt. To be sure, the creditor can take legal collection actions against you for that debt, even if your now-ex-spouse is supposed to pay for it.
Additionally, even if your spouse separately incurred a debt during your marriage, you could be held responsible for it, depending on the situation. These facts make it essential that you work closely with experienced divorce lawyers who can help ensure that you don’t end up saddled with all of your spouse’s credit card debt.
In many cases, you and your spouse can come to an agreement, with the assistance of your Frederick, MD divorce lawyer, about who will pay what debt. In other cases, however, it is up to the divorce court to decide a fair and just allocation of debts between you and your spouse. The court will consider different factors, such as your incomes, assets, existing liabilities, earning potential, and current employment situation in determining which spouse is responsible for each debt.
For example, if you are in a significantly better financial position than your spouse, and earn substantially more income, then you may end up with more than half of the marital debt, or even being responsible for debts that your spouse solely incurred. It is up to the discretion of the court to devise a resolution that is just and equitable for both parties involved.
When you are going through a divorce, you likely have a lot on your plate. It can be a difficult time, and it can be hard to know the best way is to approach the situation. While making sure that you find the right divorce lawyer can be difficult, the good news is that there are steps you can take to help ensure that you are choosing the right one for you.
To make sure that you are finding the best divorce lawyer in Frederick, MD for you, you need to make sure that you are doing plenty of research beforehand. From researching Peeples Law Group to looking into other law groups, doing your research is important.
One of the best ways to do your research is to start with obtaining personal references from friends and family if possible. If you can’t get a personal reference, the next best option is to do your research online and read about local lawyers.
Along with making sure that you are doing plenty of research, it is also a good idea to make sure that you are coming to your meeting with a divorce lawyer in Frederick, MD well prepared. Even though some may think that it is fine just to show up to the meeting and ask questions, the reality is that whether you are meeting with someone from Peeples Law Group or someone else, you need to make sure that you show up with a list of questions written down, as well as an idea of what kind of answers you are expecting. Additionally, writing down the responses you get can be a great way to keep track of your meetings and help ensure that you end up with a lawyer that is truly right for you.
After you have found the right divorce lawyer in Frederick, MD you need to make sure that you don’t worry about how quickly things are going, or how long the process takes. Some may be eager to get through the divorce proceedings, but the reality is that being in too much of a rush can cause a lot of stress. By being relaxed and maintaining a calm attitude about the path you have ahead of you, you can help ensure that you will not only take some of the stress out of all of it but that you are more likely to have a better outcome, as well.
After reading the above, you have probably come to the conclusion that it might be time for you to reach out to divorce lawyer in Frederick, MD. However, you might be wondering what exactly a divorce lawyer can do to help you.
If you have been contemplating divorce then you are probably overwhelmed about the information that is available to you on the internet. There are so many resources online that claim to help you during this complex time, however, consulting with a divorce lawyer in Frederick, MD could be the best next step instead of trying to make decisions based off of information from the internet.
A divorce lawyer has the knowledge and years of education and experience to help you navigate divorce law and some of the paths that will be available to you. A lawyer will be able to get you through this draining process and will understand your state’s divorce laws. Each state has different divorce requirements, so a divorce lawyer will have the ability to interpret statutes and correctly complete legal paperwork.
When working with a divorce lawyer you are paying for experienced advice. A divorce lawyer in Frederick, Maryland will work to get what you deserve from the divorce. Sometimes, state laws do not necessarily support an even split of assets. Most often, it can depend on a couple’s unique situation. And those situations can become complicated and that is what makes a lawyer an invaluable resource. A lawyer can protect your interests throughout the divorce, especially when it comesm to child custody, substantial income, debts, assets or future assets.
Making mistakes happen, however, if you decide to take care of your divorce on your own that could lead to mistakes because this is a stressful and complicated process that you are emotionally close to. The odds of forgetting to address any issue like medical or credit card debt or underestimating or overestimating the value of an asset could lead to financial harm or require future legal proceedings to correct the mistake, which could cost you more money. It is a divorce lawyer’s job description to ensure that your case is being properly handled the first time and to avoid any costly mistakes.
Having a divorce lawyer on your side becomes your biggest asset to your divorce. A lawyer will understand how to get you to your goals and the steps that will be involved and how to get you to your goals. They will be dedicated to your case and will be able to get your divorce completed as quickly as possible with your goals accounted for. You won’t have to stress out about dates or turning in paperwork on time. This is already a stressful time and having the amount of stress lifted is one of the biggest reasons as to why hiring a divorce lawyer could benefit you.
Call a divorce lawyer in Frederick, Maryland at Peeples Law Group today.
Divorce is always a difficult process, and the payment of debts can be a definite stressor as you and your spouse attempt to resolve your differences and reach a mutually acceptable divorce settlement. If you are in this situation, you must achieve a marital debt division that is fair and equitable. In this case, you need the assistance that only a seasoned Frederick, MD divorce lawyer can give you. Call Peeples Law Group to schedule a free consultation.
When you are going through a divorce the last thing you want to do is worry about if you found the right divorce lawyer in Fredrick, MD for you. It can be daunting to even start the search if you don’t know what you are looking for. It is important to find representation that suits your needs, you, and your case. This also means that you shouldn’t just settle for the first divorce lawyer that you find.
If you’ve never had a search for a lawyer you may not know the qualities to look out for. We’ve made it easy to see which qualities your divorce lawyer should have in order for you to find the right lawyer for you.
Starting your search can be daunting but if you look out for these qualities you have a better chance of finding the right lawyer for you.
While everyone has to start somewhere you probably shouldn’t put yourself in inexperienced hands. You’re going to want a lawyer that has experience with the distinctive elements of your case and knows the laws that surround divorce. Anyone can read the books and attend the lectures of the most qualified teachers but they do not have the experience of what it’s like with real clients. When you go with an experienced lawyer who has worked on numerous cases you can rest assured that you have someone who not only understands your case can also handle anything that comes with it.
No matter what kind of relationship you enter you want someone who’s going to be honest with you. This also translates to your lawyer as that is who’s going to always be honest with you about your case. No matter how harsh the truth is a divorce lawyer should never hold back from the client. However, this also has to work both ways. A lawyer has to be honest with you you also have to be honest with their lawyer.
If you found a lawyer that you mesh well with and has the above qualities but is hardly available how can you know that they’re going to handle your case? You need a lawyer who is going to be available to you at any point in time to answer your questions and be able to get back to you in a reasonable time. If they are not able to communicate directly during crucial times it can feel like your lawyer is not taking your case seriously but it can also lead to frustration. Typically time issues arise when a lawyer has too many clients and is burdened with all the cases. This is why you need to communicate with your lawyer about what is to be expected on the communication level and availability level.
If a divorce lawyer lacks professionalism they are not a good divorce lawyer at all. Professionalism is something every lawyer must possess and have all the professional qualities that you would expect to handle your case respectfully. You can get it good impression of what the professional attitude is upon the first meeting. If you are uncomfortable in the slightest that it is time to look somewhere else.
If you have more questions about what makes a good divorce lawyer in Frederick, MD don’t hesitate to reach out to Peeples Law Group today.