Refinancing The Home BEFORE The Divorce?!

by Robin Roshkind, Esquire, West Palm Beach, Florida

One of my clients, the Wife, had the most daring request posed to her by her “amicable” Husband late one afternoon recently.  The couple is getting divorced and are participating in settlement negotiations with their respective CPAs and divorce attorneys.  Both the Husband’s name and Wife’s name are on the deed and the mortgage to the marital home which is here in Florida.  Another vacation home is up north in New York’s Hamptons communities. 

In the settlement negotiations, the Husband was to keep the marital home here in Florida in his name only by Wife quit claim deeding the home to him, and the Wife was to keep the vacation home in the Hamptons by him quit claim deeding that home to her.  He actually asked his wife to refinance the marital home WITH HIM, so that he could get the cash out, live there, have the home solely in his name, and pay her over time her equitable distribution from the marital assets!  In other words, her own money!  That takes balls.

Yes, I stopped her!  If she would have done that in the interest of being “amicable”, she would have further encumbered herself (read DEBT) in a property she no longer would have a legal interest in, and he would have the cash!  Then he would pay out over time, her own money. That is why divorcing couples need  divorce lawyers.  For more information call one of the divorce lawyers at ROBIN ROSHKIND, PA at 561 835 9091 or click on the Firm’s web site at http://www.familylawwpb.com.

 

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What Is A Complex Divorce?

by Robin Roshkind, Esquire, West Palm Beach, Florida

A complex divorce is one in which there are many issues to resolve and the Husband and Wife are anything but agreeable.  It could involve many real estate properties, tax issues, a privately held corporation or several closely held businesses, marital assets in several states, trust assets, split siblings or special needs children, assets or businesses that need valuations, and supplemental issues including vocational studies, custody battles, an unfit parent, off shore bank accounts and the like.   Complex divorces can also include bad behavior including adultery and the dissipation of marital assets due to outside relationships, gambling, drug or alcohol use or uncontrollable shopping or other mental health issues.

The more complex the marriage, the more complex the divorce.  The more a couple has to fight over, generally the more complex the divorce.  This type of divorce usually turns ugly and requires the use of a divorce team.  This team includes psychologists or psychiatrists, appraisers, private investigator, real estate agents, CPAs, estate planning attorneys, corporate attorneys, tax attorneys, and of course the divorce lawyer.   For more information about this or other divorce topics, call one of the divorce lawyers at ROBIN ROSHKIND, P.A. at 561 835 9091 or click on the Firm’s web site at http://www.familylawwpb.com.

Choosing A Divorce Lawyer

By Robin Roshkind, Esquire, West Palm Beach, Florida

I have written about this subject before, but because there is so much confusion about the hiring of a divorce lawyer, I feel it is important to write about it again.

The first issue one must decide after concluding that a divorce is inevitable, is whether or not to use professional assistance in terms of hiring a divorce lawyer.  Because of the economy, many divorcing couples try “do it yourself” divorce.  This is fine if you have no IRS debt, no credit card debt, and no assets that are joint.  Where the danger lies is that you may have joint assets and not realize it!  Then you are giving away your rights without know what they are. 

I often say that not using a divorce lawyer is penny wise and pound foolish.  And yes, divorce lawyers are not cheap.  But if you have children, assets or debts at stake, don’t be foolish.  Get a lawyer on your side.

How to choose one?  Go for a consultation.  Look around. A lawyer should not tell you only what you want to hear.  He/she should know what he/she is talking about, has years of experience, a nice office and an experienced staff.  Get a feel for compatability and trust.  Do not hire a lawyer solely upon advertisements or hourly rates.  Just because the hourly rate is low or the retainer is minimal, these are not good reasons to choose that divorce lawyer.  For more information, call one of the divorce lawyers at ROBIN ROSHKIND, P.A. at 561-835-9091 or click on the Firm’s web site at www.familylawwpb.com.

Know your tax and IRS rights.

By Robin Roshkind, Esquire, West Palm Beach, Florida

With constant fighting over finances, couples in this economy are especially hit hard.  A divorce can ruin your credit, cause lingering debt long after the divorce is over, and have the IRS breathing down your neck.

The following tips are for those divorced spouses who are subject to an IRS tax audit:

1.  Know that you can challenge an auditor’s decision.

2.  Penalties that are assessed, can be cancelled if you show a good faith effort to pay.

3.  Audits can be by correspondence instead of face to face.

4.  You can ask the IRS for an installment plan to pay any money owed.

5.  IRS notices may be incorrect.  You can challenge notices and sometimes they are cancelled.

6.  There is a problem resolution office of the IRS to resolve disputes.

7.  You have the right to appeal anyIRS decision within 30 days of receipt.

Often divorce lawyers work with accountants, bookkeepers and CPAs to gather financial information.  There may be tax ramifications of any settlement offer so it is important to consult with a tax advisor prior to signing any marital settlement agreement.  For more information call to speak to one of the attorneys at ROBIN  ROSHKIND, P.A. at 561-835-9091 or click on the Firm’s web site at http://www.familylawwpb.com.