Handling Money After Divorce

By Robin Roshkind, Esquire, West Palm Beach, Florida

With divorce comes a division of assets and debts of the marriage.  It is hard to get used to handling both sides of the coin by yourself.  Especially when the marital pie is cut in half. 

This concept is traumatic for many suddenly single people.  Especially if your spouse handled all the family finances.

So if you end up with substantial assets and don’t want to continue to use the same financial advisors you used when you were married, call us for some suggestions.  We have certified financial planners, investment bankers, stock brokers, insurance executives, CPAs and others we draw upon for their professional expertise. 

One piece of advice I give my clients is to budget properly.  Don’t get back into debt.  Don’t make extravagant expenditures fixing up the home.  Don’t go on that European holiday just yet.  Let the dust settle from your divorce.  It is traumatic.  You have to think clearly to plan your financial future. 

If you are thinking about getting divorced in Palm Beach County, and would like to do some financial planning before you file, 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.

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High Asset Divorce Cases Need Special Attention

By Robin Roshkind, Esquire, West Palm Beach, Florida

There is a saying that the rich are different.  In divorce cases, the same holds true.   Wealthy divorcing couples have more to fight over.  There may be a family business, huge stock options, priceless paintings, several homes, expensive cars and jewelry and a whole lot more debt.

It often takes ancillary professionals to join the divorce lawyers on the “team”.  Professionals including accountants, financial planners, appraisers, real estate experts, business valuations all need to be considered in the equitable division of assets and debts.

Complex marital estates are often the cause for the break up in the first place.  There is more to argue over.  If you have a sizeable marital estate and are thinking about divorcing in Palm Beach County, divorce planning may be just what  you need.  Call one of the divorce lawyers at ROBIN ROSHKIND, P.A. at 561 835 9091 for more information or click on the Firm’s web site at www.familylawwpb.com for more information.

Asset Selection Is Important In A Divorce Settlement

By Robin Roshkind, Esquire, West Palm Beach, Florida

You and your spouse are going through a divorce.  You both are represented by counsel, but the divorce is amicable with settlement in both minds.  How you divide up the assets can have significant effects on the financial health of a spouse.  That is why with my clients, I recommend a forensic CPA and even a financial planner to assist me with substantial asset divisions.

The CPA can help in determining things like the following:

1.  Valuation of a business

2.  Tax ramifications of any asset

3.  Present day value of alimony due in a lump sum versus over a period of years.

4.  Backing out personal expenses in a closely held corporation for a true personal income statement and a profit and loss statement on the company.

The Financial Planner can help with future valuations of insurance polcies, annuities, and other investment vehicles.

Also if a spouse takes a $500,000 boat owned free and clear, and the other spouse takes a $500,000 home, also owned free and clear, forensic CPAs and Financial Planners can tell me which spouse has the “better” asset.  In this way, I can negotiate for my client to the best of my ability.

If you are thinking about getting divorced in Palm Beach County, Florida, call one of the divorce lawyers at ROBIN ROSHKIND, P.A. for additional information at 561 835 9091 or click on the Firm’s web site at www.familylawwpb.com.

You may need a divorce TEAM to play your hand…

By Robin Roshkind, Esquire, West Palm Beach, Florida

The divorce process can be more complex than most people think especially when there are children and lots of debts or assets to “discuss”.  Other factors that complicate a case is domestic abuse, hidden money, affairs, mental illness, drug or sex addiction, alcoholism, gambling, income producing real estate, time shares, a business, and frequent flyer miles. 

Divorce cases that have multiple issues are best tried with a team behind you.  The team can include a CPA to trace assets, evaluate businesses, determine real income; a psychologist or THERAPIST to determine what is in the best interests of the children, or to help you deal with the pressures of divorce; a PSYCHIATRIST for extreme cases of addictions, bi polar behavior, and medications; a trained MEDIATOR to facilitate settlement negotiations; a TAX ADVISOR to project tax ramifications of settlement offers;  an INSURANCE PROFESSIONAL to guarantee support payments; a FINANCIAL PLANNER or investment advisor to help you get back on your feet after divorce;  a REALTOR to list or appraise the marital home;  an APPRAISER to value jewelry, artwork, antiques; and of course, your DIVORCE LAWYER to guide you through the court system and the entire process legally. 

Not all cases require all professionals and every case is different.  But when people ask me why a divorce is so expensive, it is because various expert witnesses are needed at a trial, or in preparation for settlement talks.  It is much better to have THE TEAM on your side than to go up against one.

For more information about this or other divorce topics, 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.