Factors Considered in Divorce Settlements

Even when spouses make a mutual decision to end their marriage, agreeing upon a divorce settlement is rarely easy. It’s important to get in touch with a family attorney near Owings Mills who can represent your best interests during negotiations with your soon-to-be ex-spouse’s counsel. Your family law attorney can advise you as to your state’s laws regarding property division, child custody issues, and other matters pertaining to your situation.

Divorce Settlement in Owings Mills Asset Division
In a divorce settlement, a distinction is made between marital property, which is subject to division, and non-marital property, which isn’t. For example, Maryland law recognizes that any property obtained by an individual prior to the marriage remains the property of that individual, provided it is not gifted to the other spouse. The debts of the other spouse cannot affect non-marital property. Maryland law further establishes that all property obtained during the marriage is considered marital property, regardless of which party obtained the asset. An exception is if one spouse is gifted property, which would be considered non-marital property, and another would be if a spouse inherited property. Divorce lawyers can negotiate a fair division of marital property .

Liability Distribution
Before engaging in negotiations, your family law attorney will need to know about all of your debts and the debts of your spouse. Maryland courts may not require one spouse to resume responsibility for paying obligations that are solely the other spouse’s. However, marital debts may be divided. A marital debt is one that is traced to the acquisition of marital property, such as a home.

Child Custody and Visitation
Child custody is often a point of contention in divorce settlements. When negotiating with divorce lawyers, it’s essential for both parents to set aside their differences and work together for the best interests of the child. Under Maryland law, unless a court orders otherwise, both parents are considered to be the joint guardians of a child. If one parent is awarded sole physical custody, the other parent may be given visitation rights.