Firm Advises on Property Division in Maryland and Washington, D.C.
Dedicated advocate represents spouses in equitable distribution matters
Divorce has deep emotional aspects but it also represents the unwinding of a legal and financial partnership. The Law Office of Michael A. Troy PLLC, located in Greenbelt, Maryland and Washington, D.C, helps divorcing spouses throughout the area understand their rights so they can terminate their marriages on a sound footing. When these issues go to court, assets and debts are distributed based on what the judge thinks is fair. This can be a complex determination, especially if assets such as retirement plans and business stakes are involved. Our firm evaluates what marital property is subject to division and presses for an appropriate outcome, whether that occurs through negotiations or in court.
How is property divided in a divorce?
If spouses going through a divorce cannot find common ground on their own, the judge can look at any factor he or she believes is relevant to decide on what is an equitable distribution. Maryland and Washington D.C. laws list a long series of factors that should be considered, such as:
- Duration of the marriage and each party’s earning ability — Long marriages, particularly those where one spouse is the primary breadwinner, require courts to evaluate whether the spouse who primarily took care of the household has the ability to meet their financial needs and to maintain their lifestyle on their own. If not, he or she might receive a greater share of the marital assets.
- Residence and custody — Property distribution decisions sometimes reflect determinations about child custody. A court might hold that it is in the best interests of a child to remain in his or her home. Accordingly, possession of the family home would likely go to the parent with whom the child lives.
- Contributions to the marital estate — Courts also examine what each spouse contributed to the family. This goes beyond monetary contributions, taking into account the value of taking care of the home, having primary child care responsibility and working so that the other spouse can complete their education or professional training.
Unlike in some states, there’s no legal preference in Maryland or Washington D.C. for a 50-50 split, so hiring a proven family law attorney is crucial to preventing a ruling that would put you in an unfavorable position.
Seasoned attorney details Maryland law on ordering a monetary award
Certain assets cannot be divided. For many couples, the value of the home they’ve shared far exceeds the worth of other property they own. To address situations such as this, Maryland law authorizes monetary awards from one spouse to the other in order to achieve an equitable result. These arrangements can place additional strain on the parties as they work to complete the divorce process. We have the knowledge and experience to answer valuation questions and to aggressively pursue an outcome that accurately reflects each spouse’s circumstances.
Who is responsible for marital debts?
Just as assets are allocated upon the termination of marriage, accumulated debts must also be divided, including mortgages, car loans and credit card debts. Our firm initiates a comprehensive review of the overall financial picture and seeks a resolution that allows both sides to move forward successfully. Should a conflict exist about how certain debts should be treated, we press for a suitable result through negotiation or in court.
Contact a lawyer serving Maryland and D.C. for a free consultation about property division
Michael A. Troy PLLC advises divorcing clients on property division and all other aspects of divorce. Our firm has offices in Greenbelt, Maryland and Washington, D.C. For a free consultation regarding your situation, please call 202-655-5512 or contact us online.