Married couples generally don't expect to have to one day divide their shared property in a divorce settlement, but this can be a primary and particularly complicated aspect of ending a marriage. Property division in Maryland is based on the principle of equitable distribution. That means marital assets and debts will be divided in a fair and not necessarily equal manner.
To protect your financial stability now and in the future, it is important to know what assets to which you are entitled, and retirement accounts are often overlooked. Some husbands and wives tell their soon-to-be ex-spouses that the retirement account can't be divided in a divorce settlement. "The money came out of my paycheck," he or she might say, "so the funds belong solely to me." Not so, however.