The decision to file for bankruptcy entails numerous questions and concerns, not least of which is the fate of your credit cards. Credit cards are key tools for managing finances, making online purchases and building credit scores. Do you have to surrender them when...
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Rockville, Maryland Law Blog
What is a gray divorce?
Imagine reaching a point where you’ve raised your children, built a career and are looking forward to retirement. But then you realize that family life is no longer something you look forward to later in life. This scenario is becoming increasingly common and is...
How do you split retirement accounts during divorce?
Retirement is usually the last thing on anyone’s mind during divorce. However, when negotiations for asset division come up, you will need to think about your retirement plans. People with high net worth can have up to 55% of their total assets or wealth in retirement...
Do divorcing Maryland spouses need to prove fault?
People contemplating divorce often have many questions about the process. They don't know what rules apply to property division and child custody matters. They are unsure of how much the process costs or how long it might take to complete. In some cases, people are...
Do I have to be completely broke to file for bankruptcy?
The answer is no. Many people believe you need to have hit rock bottom financially to file for bankruptcy. This is not always true. Bankruptcy is for anyone struggling with debt, regardless of their financial situation. You do not have to be penniless to seek help...
High-stakes splits: Challenges in dividing property during divorce
Dividing property can be one of the most stressful parts of divorce. In Maryland, the court tries to split property equitably, considering each spouse’s contributions to the marriage, financial situation and earning potential. However, this process can be particularly...
Can a Chapter 13 bankruptcy affect my 401(k)?
In today's economic climate, many individuals are grappling with financial challenges. These difficulties often lead to tough decisions, such as considering bankruptcy. The complexities of bankruptcy can be daunting, especially when considering its impact on your...
Should you keep a vacation home in your divorce?
A vacation home can be quite valuable. It might serve as an income property, and its value can quickly increase. On top of that, you might enjoy the time that you get to spend at the property. For these reasons, people often fight tooth and nail to keep a vacation...
Is there a trick to effective co-parenting after divorce?
Co-parenting after a divorce can be a challenging journey. Unfortunately, there is not one easy trick to master it. Instead, it requires dedication, open communication and a commitment to prioritizing your children’s needs. Navigating co-parenting involves...
How long does a Chapter 13 bankruptcy take to complete?
When debt levels reach unsustainable levels, people have to make difficult choices. Sometimes, they need a fresh start, and reducing their current debt levels is the best way to achieve that goal. Bankruptcy is the most effective way to eliminate certain debts and...