The experienced Maryland Family Law practitioners, at The Drazin Law Center, P.A. have successfully represented multitudes of individuals throughout the State of Maryland with their pursuit of, or defense of, Monetary Awards.
When the Maryland Court issues a Judgment of Absolute Divorce, the Court may make an equitable distribution of the marital property (i.e., generally, the property the parties acquired either separately or jointly during their marriage). In order to make such a Monetary Award, the Maryland Divorce Court is required to follow a three-step process:
- Determine what property is marital;
- Determine the value of all marital property; and,
- If appropriate, issue a Monetary Award (which may include: division of pension, retirement, profit sharing, or deferred compensation plan, and survivor benefits; the transfer title to certain personal property used for the household under certain circumstances; and the transfer title to a jointly owned family home under specialized circumstances).
- Contributions, monetary and nonmonetary, of each party to the well-being of the family;
- Value of all property interests of each party;
- Economic circumstances of each party at the time the award is to be made;
- Circumstances that contributed to the estrangement of the parties;
- Duration of the marriage;
- Age of each party;
- Physical and mental condition of each party;
- How and when specific marital property or interest in property was acquired, including the effort expended by each party in accumulating the marital property or interest in property;
- Contribution by either party of non-marital property to the acquisition of real property owned by the parties as tenants by the entirety;
- Any award of alimony and any award or other provision that the court has made with respect to family use personal property or the family home; and,
- Any other factor that the court considers necessary or appropriate to consider in order to arrive at a fair and equitable monetary award or transfer of an interest in certain property.
Valid exceptions and exclusions pertain to the definition of marital property. Consult with a knowledgeable and skilled Maryland Family Law Attorney at The Drazin Law Center, P.A. to review the characterization of your property.
The Court, according to Maryland Divorce Law, (in conjunction with the third-prong above) is directed to make an equitable (or fair) allocation or adjustment of the marital property. Equitable Distribution in Maryland does not necessarily equate to an equal division. To arrive at an equitable Monetary Award the Maryland Divorce Court is required to consider the following statutory factors:
If the Maryland Divorce Court makes a Monetary Award, it may determine the manner of payment. As such, the Maryland Divorce Court has the discretion to enter a judgment for any amount of the Monetary Award that is due and payable.
The attorneys at The Drazin Law Center, P.A. will analyze the specific facts of your case and advise what type of outcome you may expect through the Court process; whether you are requesting a Monetary Award or defending such a Monetary Award claim.
At The Drazin Law Center, P.A., our goal is to effectively assist through the difficult Divorce Court processes and the intricacies involved with Maryland Monetary Awards to achieve the clientâ€™s goals and realistic expectations. The lawyers at The Drazin Law Center, P.A. offer knowledgeable, diligent, and experienced legal counsel that can effectively assist you.
Columbia Monetary Award Attorneys and Dundalk Monetary Award Attorneys serving clients with their Maryland Monetary Award needs throughout the State of Maryland; including, but not limited to, Howard County, Baltimore County, Baltimore City, Anne Arundel County, Montgomery County, Carroll County, and Harford County.