The federal tax code and various laws regulate how certain assets are divided during a divorce. However, there are no clear rules regarding inherited IRAs. Despite the absence of any legal guidelines, inherited IRAs are being divided up in family courts in Maryland...
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Year: 2018
Dealing with child support issues after divorce
On Behalf of Abney at Law, P.C. | Jul 9, 2018 | Child Support
When Maryland parents divorce over money issues, those matters might follow them after the separation. This is particularly true if there are support payments involved. Such was the case for one couple who split up over career goals and finances. The father was...
Many factors can impact how long the divorce process takes
On Behalf of Abney at Law, P.C. | Jul 5, 2018 | Divorce
Maryland residents who are considering getting divorced might wonder how long the process will take. The length of a divorce will depend on the individual spouses and specific circumstances. Couples who do not share children and do not disagree about how to split...
Estate planning decisions during a divorce
On Behalf of Abney at Law, P.C. | Jun 27, 2018 | Family Law
Divorce involves many difficult emotional and financial factors. One of the most important, and one that's often forgotten in Maryland and elsewhere, is estate planning. No matter what type of assets or end-of-life wishes are involved, making updates that reflect each...
Understanding fault-based versus no-fault Maryland divorce
On Behalf of Abney at Law, P.C. | Jun 27, 2018 | Divorce
Maryland residents considering divorce may not be quite clear on fault-based versus no-fault divorce in our state. In 2015, the law was updated with reference to the traditional waiting period. Here is what changed about divorce in Maryland and what stayed the same:...
Gig economy income and child support payments
On Behalf of Abney at Law, P.C. | Jun 18, 2018 | Child Support
Unfortunately, many noncustodial parents in Maryland fail to pay their mandatory child support obligations. That's why there are a number of systems that have been set up for child support enforcement in the workplace, including paycheck garnishments. Roughly 70...
Restrictions and rules during divorce
On Behalf of Abney at Law, P.C. | Jun 13, 2018 | Divorce
Parents in Maryland who get a divorce should be aware that there are multiple parenting and financial restrictions in place once they have started the legal process. For example, taking one's children outside of the country may not be allowed during a contentious...
More women on hook for child and spousal support
On Behalf of Abney at Law, P.C. | Jun 4, 2018 | Child Support
More women in Maryland and across the U.S. are paying alimony and child support, according to a new survey of divorce lawyers. The survey was conducted by the American Academy of Matrimonial Lawyers. Of the lawyers who participated in the study, 45 percent said they...
Dissipation and other fraudulent pre-divorce activities
On Behalf of Abney at Law, P.C. | May 30, 2018 | High Asset Divorce
There could be several reasons for your decision to end your marriage. Perhaps the issue of trust is one of them. You may have found that your spouse lied to you on several occasions. For example, although he says otherwise, you believe that he has been depleting...
Alimony may still be an option after the Tax Cut and Jobs Act
On Behalf of Abney at Law, P.C. | May 29, 2018 | Alimony
Divorces finalized after the start of 2019 will see significant changes in the way the IRS looks at alimony. In the past, alimony was a tax-deductible expense for the payer and considered income for the recipient. Starting at the beginning of the year, divorcing...
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