One of the key issues affecting the division of property or assets in a Maryland divorce case is what happened to cause the split such as provable adultery in the marriage. Other factors include the length of the marriage, efforts at maintaining the marital structure, the financial situation of the parties, and the contributions of each party to the marriage. In many cases, it comes down to a 50/50 split.
How Do Courts Handle The Division Of Debts In A Divorce?
I’ve not found many cases where the court has the requirement to designate debts or payment of debts in a divorce, with the exception of attorney fee debts. If there is a lot of money available and someone has been egregious or totally irresponsible, then that would fall under the factors or the circumstances of dissolution of marriage, and things of that nature weigh into the percentage of the monetary award. Sometimes it’s a 50/50 split, and sometimes it’s a 60/40 split, but in terms of designating the payment of debts, I’ve not seen a court or anything in the law require debts to be allocated at the time of divorce. Usually, the property award is allocated, and that means the equity in the house, the retirement, etc. are split.