May 2011 Archives

May 24, 2011

The Impact Of Credit During Your Divorce

When you meet with your divorce attorney in Broward, it will be explained to you that liabilities incurred during the marriage will most likely be equally divided amongst you and your spouse as part of the equitable distribution. You will be required to fill out a financial affidavit and exchange documentary evidence of your liabilities as of the date of filing and even two to three years before your divorce.

As a divorce attorney in Fort Lauderdale, it is important that a client provide a credit report. A credit report ensures that the party is aware of liabilities in their name. In some cases, a spouse may have incurred debt in the other spouse's name without any prior knowledge or consent.

Maintaining good credit is an important aspect of everyone's life. Even those of who are newly separated, or recently divorced credit is very important. There are important credit implications that those individuals going through a dissolution of marriage may not know about.

In order to combat a misconception, a divorce does not relive you of your marital or premarital debt obligations. These are, but not limited to A-Credit card debt; B-A car loan; C-Mortgages on real property such as a house.

The first thing to find out is to see if your name is on the loan agreement. While it is true that your ex-spouse may have acquired the entire obligation to pay, but if those loans are not paid on time, it could affect your credit score dramatically.

Next, go get yourself a free credit report to better understand your current credit score. If you have any outstanding debt obligations, (like the ones listed above) it is recommended to check semi-annually, to ensure any debts that are in your name, are still being paid. And remember to document everything; this could save you headaches later.

After that you should see if you have any open joint bank accounts that you had/have during the marriage. During the separation, and dissolution process you and your spouse should figure out who will be responsible for paying certain debt obligations.

Lastly, once you are divorced you should immediately establish your own credit separate from your former marital credit. You should start to build your own credit history right away. This can be done by opening up a credit card with a reasonable limit, so that you can afford to pay off when the payment is due. Remember, always make your credit card or other debt obligation payments because the next 18-24 months are the most important when separating yourself from your married credit.

May 16, 2011

Divorce Lawyers In Fort Lauderdale Look To Facebook And YouTube For Evidence

Social networks are changing the way that divorce attorneys in Broward conduct discovery in a case. Facebook and Myspace have become platforms where people open their lives, post pictures and have a conversation with one friend which is often read by many people. Individuals write their conversations and often talk about private matters. For lawyers, this has become an excellent source of evidence in a marital and family law case.

Other sources of electronic evidence include videos on YouTube, text messages, dating services, voice mail, cellphones, Global Positioning System (GPS) receivers and Sun Pass records. Discretion and privacy have been a generous revelation of secrets. While some often restrict who can see their social networking page, others find information by looking through a friends account.

While evidence of wrongdoing is generally unimportant in Florida, one of many no fault states, fault still plays a role in equitable distribution of assets and alimony. However, there are strict limits on what information can be taken, what information is private and what information can only be obtained through legal procedures such as subpoenas, depositions and discovery.

May 3, 2011

Divorces On The Rise In Florida

The Sun Sentinel is reporting that there has been an increase in the number of amicable divorces and divorces without lawyers. While the total number of divorces between 2005-2009 decreased, simplified divorces increased 20% in Broward County and 50% in Palm Beach County. In these simplified cases, parties resolve their case in a more amicable fashion.

The economic downturn has resulted in less assets to divide, concerns about the cost of hiring two lawyers and mediation becoming a more attractive alternative to contested divorce litigation. In South Florida, 60% of marriages end in divorce. A contested divorce can cost $10,000 to $25,000. Conversely, mediation can cost less than $5,000.

Couples who require equitable distribution of their assets and liabilities, a parenting plan and a time-sharing schedule should consult with a Broward divorce attorney. Lawyers can assist their client in finding hidden assets and calculating child support.

Couples who chose a simplified divorce enter into their own agreements without the necessity of a courtroom battle. However, these parties generally have no assets, no children and do not request other financial relief such as alimony or the payment of attorney's fees and costs. Notwithstanding the financial constraints which are a result of the economy, a divorce can be a complicated procedure if you are not familiar with the legal system and if you are not a South Florida marital and family law attorney.