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high asset divorce Archives

Aisha Tyler agrees to pay ex-husband $2 million

Maryland residents who watch the show "The Talk" may be interested to learn that, on May 19, co-host Aisha Tyler agreed to pay her ex-husband $2 million. Tyler said that she her former husband had agreed to the terms of the divorce settlement and that she had not been ordered by the judge to pay spousal support.

Dealing with child custody following the death of a parent

The death of a Maryland custodial parent can be a difficult time for those involved. However, it can also be difficult to determine who the child will live with. Depending on the situation, a child may go to live with the noncustodial parent, a family member or a third party. When there is no one suitable, these children could become wards of the state.

What to do with a family business in a divorce

Couples in Maryland who are business owners and who get a divorce might also need to decide what they will do with the business. Since the assets of both people may be largely tied up in the business, neither may be able to buy the other out. While a prenup or a buy-sell agreement might address the issue effectively, many couples do not want to discuss divorce when they are wedding planning. Therefore, they may be left negotiating the fate of the business as part of the divorce.

Property division complexities during a divorce

Maryland couples who are facing divorce might be heading into the process with differing degrees of financial knowledge and power. Keeping this in mind might make property division more equitable. For example, spouses with more earning power may be able to more easily replenish their retirement accounts while lower earners might struggle to do so. Therefore, splitting the retirement accounts equally in half may not be the best approach.

How Social Security benefits may be affected by divorce

Maryland residents who are getting a divorce might still be able to draw Social Security benefits on their former spouse's income in certain circumstances. The benefits the person receives from a former spouse must be higher than the ones they would receive. Social Security requires the equivalent of at least a 10-year work history to pay out, so for people who have not worked much throughout their life, this might be particularly important.

Retirement considerations for those going through a divorce

Although the end of a marriage can be stressful for any Maryland couple, those approaching their retirement years might find it can create a financial crisis. Issues such as health insurance, retirement plans and Social Security benefits could play a crucial role in the ability to live comfortably later in life, and a divorce could upset the balance in these and other areas. Before heading into divorce, it may be wise to evaluate whether timing could improve the financial impact.

The financial impact of later divorce on retirement

The rate of divorce for people over the age of 50 has climbed even though the rate of divorce for younger people has fallen. This trend of divorcing when people are older has had an outsized impact on their ability to retire, particularly for women in Maryland and around the country.

Millions to divide in Jolie-Pitt divorce

By now, many Maryland residents have probably heard that Angelina Jolie filed for divorce from Brad Pitt. News of the actors' split was first reported by TMZ on Sept. 20, and Pitt quickly put out a statement saying that he was saddened, but the well-being of the couple's six children was what mattered the most. Though Pitt and Jolie weren't married until 2014, the actors have been together since 2004.

Protecting a retirement account during divorce

Older adults in Texas may be more likely to get a divorce than their parents or grandparents were, and one big concern they may have throughout the process is what will happen to their retirement accounts. A study by the National Center for Family & Marriage Research found that in 2014, adults over 50 were twice as likely to get a divorce than the same age group was in 1990. Adults over 65 were three times as likely.