Bowie Maryland Legal Blog

Breaking up with a spouse can no doubt feel like an overwhelming experience. This is particularly the case for those who have young children at the center of their divorce proceedings. Still, individuals who find themselves struggling with issues such as child custody can certainly have happy and fulfilling endings in Maryland.

After people with minor children get divorced, they may experience a hazy phase. This phase is characterized by feeling free from previous routines. At the same time, though, newly divorced parents may worry about their financial futures, as they have had to transition from living on two incomes to a single income. They may also find it difficult to work out a viable balance between working and managing their households.

Ending a marriage is far from a simple process, particularly in the area of finances. This is the case no matter what a divorcing couple's net worth might be, but it is especially true in a high-asset divorce in Maryland. However, financial advisors can help divorcing individuals to navigate the financial aspect of divorce more confidently.

An important role of financial advisors during divorce is to help people to figure out how to meet their immediate needs using their financial resources. As an example, rather than holding onto real estate assets, it might behoove them to seek cash assets instead. Real estate is not liquid, so it is not readily available to meet an immediate financial need. In the same way, financial investments typically are not liquid because people have to sell them to access the cash in them, and this can have unwanted tax consequences.

The process of dissolving a marriage can sadly cause a person's world to come crashing down both emotionally and financially. From a financial standpoint, this is especially the case for those going through a high-asset divorce in Maryland. However, some steps might help them to recover financially from the divorce and remain as stable as possible in the years ahead.

First, when it comes to investing, people who have experienced divorce may be wise to invest more of their money in stocks. Stock investments are valuable parts of the majority of people's portfolios, and this is true even for people who are retired. The benefit of stocks is that it can help with withstanding the negative impacts of inflation.

As one of many military families in Maryland, you, your spouse and your children understand what it's like to make personal sacrifices for the sake of the common good. You can likely relate to other military spouses who say it's challenging to find balance between military duties and family life, especially marriage. You may also relate to those who say their marital relationships haven't been able to sustain the rigors of military life.

Divorce is never easy, especially when children are involved. You and your spouse may already have a military family care plan in place, in case of active duty or divorce. Kids who come from military families often deal with unexpected life changes. However, that doesn't mean adapting to life after divorce will be easy for them, which is why it's helpful to keep several things in mind to help them cope and keep stress levels between you and your spouse as low as possible.