Tag Archive for: child support

Divorcing Wealthy in Florida

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What is the best way to end up wealthy after divorce?  It is by being even wealthier before divorce.  The truth is that divorce is not cheap.  But there are things that you can do to help preserve your wealth even if your marriage is ending.

Retain a Neutral Financial Professional

One of the biggest challenges when going through divorce is that one spouse typically knows more about the family finances than the other spouse.  If you are the spouse with the knowledge, this can be frustrating because you feel you are making reasonable proposals that would benefit your spouse, and yet your spouse is outright rejecting them or refuses to make a decision, costing your family even more time and money.  If you are the spouse without knowledge of the family finances, you feel like your spouse is trying to control you by badgering you to agree to their proposal, but how can you even make a decision that could have disastrous consequences for your long term financial future?

This is where a Neutral Financial Professional comes in.

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The Neutral Financial Professional in Collaborative Divorce: Saving Your Family Time and Money

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Are you considering divorce? If so, you’re likely familiar with the emotional strain that comes with it. But amidst the whirlwind of emotions, it’s easy to overlook the importance of your family’s financial future when considering your divorce options. That’s where a Neutral Financial Professional steps in as an invaluable member of a Collaborative Divorce team. Let’s delve into what a Financial Professional does in this process and how they can help your family save money while preserving your financial well-being.

Collaborative Divorce

First and foremost, it’s essential to understand the Collaborative Divorce approach. Unlike traditional litigated divorces, where trial lawyers are retained and there is the constant threat or reality of a court battle, Collaborative Divorce emphasizes transparency, cooperation, and durable resolutions. The Collaborative Team typically comprises of specially-trained lawyers for each spouse, a team leader known as a Neutral Facilitator, and a Neutral Financial Professional. All professionals, once the process starts, can only help with out-of-court dispute resolution, and they are prohibited from being used to fight in court.  The Collaborative Approach fosters open communication, leading to more amicable resolutions and, compared to litigated court battles, significant cost savings.

Role of the Neutral Financial Professional

Now, let’s shine a light on the role of the Neutral Financial Professional on the Collaborative Divorce team. As a Collaborative Lawyer, I often emphasize the pivotal role they play in ensuring fair and sustainable financial outcomes for both spouses. Here’s how they do it:

1. Financial Clarity

Divorce involves complex financial matters, from asset division to spousal support and child support. A Neutral Financial Professional brings clarity to this complexity by helping each of you analyze your financial situation.   This is important, as it is common in divorce for one spouse to be less knowledgeable about the family’s finances than the other spouse.  This disparity in knowledge oftentimes causes one spouse to freeze in the face of making long-term decisions out of fear of making the wrong decision, causes long delays and increased fees for both spouses.

Accordingly, the Financial Professional helps explain your family’s assets, liabilities, income, and expenses to provide a clear picture of your financial standing. This clarity is crucial for making informed decisions during negotiations, preventing surprises down the road.

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Collaborative Jewish Divorce

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In these uncertain times, if you are Jewish and considering divorce, you may wonder where you can safely turn.  I have watched in horror at the chants of “Jews will not replace us” in Charlottesville in 2017, the massacres of Israeli civilians on October 7th, and the more recent intimidation of Jewish students on campuses across the U.S.  I have personally experienced people telling antisemitic jokes to me, apparently not realizing that I was Jewish.   If, with this as a backdrop, you are facing the upheaval of divorce, let us help you and your family through a Collaborative Jewish Divorce.

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Create Your Own Path with Collaborative Divorce

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If you’re reading this, chances are you’re either going through a divorce or know someone who is. And let’s face it, divorce isn’t exactly a walk in the park. But what if I told you that in Florida there’s a way to navigate this challenging time while still preserving your self-determination and sanity? Enter: Collaborative Divorce.

Picture this: instead of duking it out in a courtroom with lawyers battling it out, Collaborative Divorce brings everyone to the table – you, your soon-to-be ex, and a team of professionals (including separate attorneys to provide each of you with independent legal advice) dedicated to finding solutions that work for everyone involved. Sounds pretty good, right? Here’s why it’s worth considering:

Collaborative Divorce Puts You in the Driver’s Seat

One of the biggest perks of Collaborative Divorce is that it empowers you to take control of your own future. Instead of leaving decisions about your life in the hands of a judge, you and your soon-to-be ex get to work together to find solutions that meet both of your needs. From dividing assets to co-parenting agreements, you have a say in it all.

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Child Support in Florida

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Child support in Florida is the financial obligation aimed to provide a fair and consistent means of sharing the costs of raising a child between separated parents. There’s a Collaborative Law process that offers an alternative way to address child support matters. This approach emphasizes cooperation, open communication, and prioritizing your child’s well-being. In this post, we’ll take you through the fundamentals of child support in Florida and the benefits of pursuing child support solutions through the Collaborative Process.

CALCULATING CHILD SUPPORT

In Florida, you’ll find child support guidelines laid out in Florida Statutes §61.30. You’ll notice that the calculation takes into account key factors like your income and your partner’s income, the number of children involved, and the time each of you spends with them. It’s essential to understand that the state utilizes a specific formula incorporating these elements to calculate the exact amount of child support owed.  Though you may deviate from these calculations under certain circumstances, the child support guidelines determine the default amount you can expect to pay or be paid.

CONSIDERING YOUR INCOMES

Remember, both your incomes play a pivotal role in calculating child support. It’s worth noting that not all types of income are straightforward (for example, income from a private business). Additionally, it’s important to keep in mind that if either of you is voluntarily unemployed or not fully utilizing your earning capacity, income may be attributed to you based on your potential earning capacity.

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Can I Get A Discount For Virtual Divorce Legal Services?

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If you are facing divorce and have done your research, you probably realize how expensive divorce can be.  Not only are you charged for your attorney’s time spent engaging in the actual legal work, but it is also common practice for you to be charged for travel time to go to hearings, mediation sessions, or Collaborative Divorce meetings at the lawyer’s regular hourly rate.  Further, firms that practice mainly in person incur additional expenses including leasing larger office space, renting additional equipment, and purchasing additional office snacks, drinks, and supplies.  And, of course, those expenses get passed on to you, the client.

But what if you were comfortable working with your lawyer through Zoom, telephone calls, e-mails, and other virtual means, and you did not feel the need to meet in person?  Since it ends up costing less for the law firm, shouldn’t you get a discount for virtual divorce legal services?

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How to Smartly Negotiate Your Divorce

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Divorce is undoubtedly one of life’s most challenging experiences, requiring emotional resilience and practical decision-making. When navigating the complex terrain of divorce negotiations, a strategic and smart approach can make all the difference. In this blog post, we’ll explore three key principles to help you smartly negotiate your divorce and pave the way for a more amicable and satisfactory resolution.

Focus on the Big Things, Not the Small Things

It’s easy to get caught up in the minutiae of divorce proceedings, arguing over every detail from who gets the newly purchased air fryer to who keeps the television. However, a smart negotiator knows the importance of focusing on the big picture. Prioritize the key issues that will significantly impact your post-divorce life, and don’t sweat the small stuff.

Consider the division of larger assets, child support, alimony, and child custody as primary areas of focus. By concentrating on these critical aspects, you’ll streamline the negotiation process and avoid unnecessary emotional turmoil over trivial matters. Remember that keeping your eye on the big picture is key, and being willing to let go of smaller items can lead to a more expedient and less emotionally taxing divorce.

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Top 3 Tips To Prepare For Divorce

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Now may be a tough time if you are considering divorce.  Your mind is racing, your future is unsettled, and your questions are unanswered.  But rest assured, there are things that you can do to prepare for divorce.

Here are the top 3 tips for you to consider when you are preparing for divorce.

1.  Gather Your Financial Documents

As part of any divorce process, you and your spouse are going to need to divide your marital assets and debts.  These could include funds in checking accounts, savings accounts, money market accounts, retirement accounts, investment accounts, and other accounts.  These would also include liabilities such as mortgages, credit cards, charge cards, and loans.  Your marital assets might also include cryptocurrencies, such as Bitcoin, Bitcoin Cash, or Ethereum.  You should make sure that you have access to (or make copies of) documents, statements, and/or screenshots reflecting all of these so you and your lawyer know what there is to divide.

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Alimony Tax Deduction: Is It Too Late To Divorce in 2018?

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Have you heard the news about the alimony tax deduction?  It is going away for divorces finalized after December 31, 2018.  But fear not!  If you and your spouse act smartly and quickly, you can still lock in your alimony tax deduction.

What is the Alimony Tax Deduction?

The alimony tax deduction is currently enshrined in 26 U.S. Code section 215.  It states that alimony (as opposed to child support or distribution of property) can be tax deductible to the payor and taxable to the payee.  This means that the person who pays alimony will pay less in taxes, and the person who receives alimony will pay taxes on it as if it were regular income.

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The Walking Dead: Who Is Judith’s Legal Father?

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AMC’s The Walking Dead recently premiered its season 8 debut.  For the uninitiated, The Walking Dead follows former deputy sheriff Rick Grimes and others as they navigate a post-apocalyptic world of zombies (which they call “walkers”).

The Human Element of The Walking Dead

Even more interesting than interactions with the walkers, the show focuses in on the interaction between people.  Rick and the gang have fought off a host of bad guys.  A one-eyed psychotic governor.  Bar-B-Que loving cannibals.  Most recently, a baseball bat-wielding sadist with a sophomoric sense of humor.

But the most fascinating part of the show may just be its human drama surrounding relationships between Rick and his family.  Last season, Rick made a startling admission to Michone.  Michone is a samurai sword brandishing badass and Rick’s current love interest.  The admission concerned Rick’s daughter, Judith.

When the apocalypse started, Rick had been separated from his wife, Lori.  Lori escaped the initial chaos with Rick’s best friend, Shane.  Shane and Lori thought Rick had died with the initial wave of walkers, and Shane and Lori became romantically involved.

Lori and Shane’s relationship ended when they learned Rick was still alive.  Inevitably, tensions rose between Shane and Rick, which lead to Rick killing Shane.  Eventually, Lori gave birth to a child, Judith, though Lori did not survive the birth.

Which brings us back to Rick’s admission to Michone.  Rick tells Michone he knows that Shane is Judith’s biological father.

So who is Judith’s legal father?

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