How the economy effects divorce law, part 2.

By Robin Roshkind, Esquire, West Palm Beach, Florida

We all know people who wish to divorce but can’t afford to sell the marital home.  That is because many homes today are worth less than the mortgage.  Please see my discussion on short sales or call me for more information on this subject.  But this isn’t the only issues divorcing couples face today.

There are other aspects of divorce that are also effected by this shrinking economy.  For example, alimony.  It is better to divorce when a payor spouse has a higher income.  It is better to divorce when a payor spouse can afford a higher child support.  Division of debt is also a factor, whereby the parties used to come out of a marriage with some assets.  Now, many are coming away with just debt from credit cards, mortgages and other sources.  Jobs are being lost, and benefits such as health insurance are being eliminated. 

However, it may be better to leave the marriage even under these circumstances.  If  you just can’t take it anymore, as the Nike ad says, just do it.  Cut your losses and move on.

For information on how to do that, call one of the attorneys at ROBIN ROSHKIND, P.A. at 561-835-9091 or click on the Firm’s web site at www.familylawwpb.com.

How the economy effects divorce law.

By Robin Roshkind, Esquire, West Palm Beach, Florida

With current economic times, comes more legal work in the area of family law.  More people are looking to modify old court orders to increase funds available to them.  For example, cases involving alimony increases or decreases are coming in my door.  Child support modifications are up.  Paternity cases and mothers looking for child support have increased my case load.  The point is, in bad economic times, old court orders may be insufficient and need modifications either upward or downward, depending upon whether you are the payor or payee.   On requirement to plead for a modification of a court order is a SUBSTANTIAL change in circumstances.

However, it takes money to make money.  Attorneys fees must be paid to accomplish these goals, unless you are going pro se.  So if you think you have a case, fine, but be prepared to pay for legal services to get the job done.  Credit cards or family loans are the methodology more and more clients are using. 

Another issue is the increase in filing fees which went into effect in the Palm Beach County Court System starting last Monday.  Filing fees take up a big chunk of change now, and depending upon whether you are the Petitioner or Respondent, or what type of case you are filing, they can get expensive.

For more information about this or other divorce topics, consult with one of the attorneys at ROBIN ROSHKIND, P.A. by calling 561-835-9091 or click on the Firm’s Web Site at www.familylawwpb.com.

DIVORCE AND THIS ECONOMY

By Robin Roshkind, Esquire – West Palm Beach, Florida

It is common knowledge that everyone everywhere is now affected by what is happening on Wall Street.  The problem is enormous and worldwide.  It is also common knowledge the two main reasons marriages fail is because of sex and money.  This article will speak to the latter.  Disagreements over managing money in this economy, and high lifestyle expectations (dashed) are more than ever causing marriages to fall apart. 

If you are the major breadwinner of your family,  now is a good time to get a divorce.   You will be able to buy your spouse out of the marital home for a bargain basement price.  That is, if you can get financing. As far as division of marital assets and debts is concerned, if your retirement plan took a recent hit on Wall Street, that is that much less you will need to split with your spouse.  If your spouse is irresponsible with money, a shopaholic, or high maintenance, now is the time to get rid of him or her. 

If your job is at risk, or bonuses are not forthcoming, your alimony obligation may also be lower.  Make it unmodifiable or a lump sum in the negotiations!  Child support may be lower too, if your passive investment income is down.  

If you are the dependent spouse, a divorce may be just the thing to protect your good credit!  You may need it to buy a condo or townhouse when the credit freeze eases.  As to credit card debt, try to pay at least the minimums each month for the same reason.   Credit can be ruined by an irresponsible spouse.

With divorcing parents, the spouse who maintains custody of the children gets a child support check tax free from the other spouse.  This custodial parent also gets the head of household tax deduction every year and may also keep the child deductions in settlement negotiations.

So if you are thinking about divorce, there are many favorable economic reasons to start divorce proceedings in this bad economy.  For more information, go the Robin Roshkind, P.A. web site at www.familylawwpb.com or call one of our attorneys at 561-835-9091 for a consultation sooner rather than later.