Columbia High-Asset Divorce Lawyer
Child custody disputes often complicate marriage dissolution proceedings. Property division disputes may be even more divisive, as these matters usually have both emotional and financial implications. For example, a retirement account is more than numbers on a spreadsheet. It represents long-term security, and also represents years of hard work and sacrifice.
At the Law Offices of Todd K. Mohink, our Columbia high-asset divorce lawyers approach these divorce disputes in the same way we approach other family law matters. We work hard to uncover all the facts and thoroughly research the applicable law, so we are fully prepared for hearings, mediation, and trial. Furthermore, we always proactively communicate with our clients. We keep you apprised of any and all developments in your case, so you are never in the dark.
Common Issues in Columbia High-Asset Divorces
Classification issues are common, especially in lengthy marriages which include considerable assets. Over time, these assets become commingled. For example, Wife might use a financial gift from her parents (nonmarital property) to improve a rent house that she owns with Husband (marital property).
A closely-held business is especially complex. A business’ goodwill may be one of its most valuable components. This goodwill can be either marital or nonmarital property. Furthermore, some spouses pump money into the business, some give their time, and some devote their efforts elsewhere to free up the other spouse. All these contributions deserve consideration in the division process.
In a bygone era, only a handful of couples made “prenups.” But today, since so many husbands and wives have been married before, premarital agreements are rather common. Among other things, these pacts often govern property division in divorce cases. To overturn a premarital agreement, Maryland spouses may rely on a number of common-law defenses, including:
- Fraud (concealing assets),
- Undue influence,
- Mistake, or
- Unconscionable (manifestly one-sided).
Howard County judges usually uphold agreements between the spouses whenever possible, so these contracts are difficult to overturn in family law proceedings.
Non-Trial Resolutions for High-Asset Divorces in Howard County
Informal or formal mediation resolves most family law, and other civil disputes, in Maryland. Settlement discussions often begin before the case is even filed. As the matter moves forward and the issues crystalize, these talks often bear fruit. Additionally, the longer the case goes, the more attorneys’ fees mount, at least in most cases. So, many spouses have a financial incentive to resolve their disputes.
Formal mediation usually takes place in an office suite or some other low-key location. A professional mediator, who is usually an unaffiliated attorney or a retired judge, works to facilitate mutual agreement on all issues. In about 80 percent of cases, the parties resolve most or all of their issues during mediation.
Many people have questions about collaborative law. This litigation alternative may be a good choice in some situations. The proceedings are all private; there are no court filings or court appearances. The litigants meet about once a month in something that resembles unsupervised, ongoing mediation. If there is need for experts, like realtors or accountants, the parties divide the costs. Collaborative law works best if both parties are willing to make sacrifices for the good of the family.
Reach Out to a Professional Columbia Divorce Lawyer
High-asset divorce often involve complex legal, factual, and emotional issues. For a free consultation with an experienced divorce lawyer in Howard County, contact the Law Offices of Todd K. Mohink, P.A. Our office is conveniently located on the Little Patuxent Parkway.