Divorce Experts Educate to Minimize Impact
Local News Palm Beach County News Delray Beach News Helen Wolt hwolt@tribune.com
A panel of divorce experts shared tips to save sanity and money. Divorce is one of life's hardest transitions. But making decisions based on professional expertise may soften its financial and emotional impact. "Everybody knows that you need an attorney, but there's so much more to consider to get through a divorce," said Dr. Amy Botwinick, a chiropractor turned divorce coach. Botwinick and attorney Tammy Saltzman, both of Boca Raton, have assembled a team of experts to guide those navigating divorce. The team put on the Florida Divorce Expo at the Delray Beach Public Library recently to share some of their top tips.
Botwinick's divorce 15 years ago led her to write "Congratulations on Your Divorce: The Road to Finding Your Happily Ever After." The book was published in 2005 by HCI, known for its "Chicken Soup for the Soul" series. "I was going through hell and started journaling for my own satisfaction," Botwinick said. Her mistakes were costly. Among the quandaries she faced was dividing the couple's assets. "I had a lawyer, but didn't know how to split the estate. I got whipped in taxes," she said. Botwinick realized specialists such as accountants and financial advisors are better equipped to make those decisions. And friends and family, no matter how loving their intentions, may not have the right answers for your situation.
The divorce team is all about taking control and finding solutions, Botwinick said as she introduced the panelists. Each is an expert in their field and specializes in dissolution. Saltzman hosts a talk show on DivorceConnectionNetwork.com and bills herself as a "heart-based attorney." She gave the audience pointers on choosing a lawyer. Hiring based on a friend's recommendation is a big mistake, she said. Consider certification, retainers, reach-ability and your gut feeling. "Do they have empathy? Only if they've been there and done that," Saltzman said.
Panelist Craig Richman is a certified divorce financial analyst. "Divorce is the biggest financial action in life, he said. "After the judge signs the papers, you can't go back." Before filing is the time to have an advisor. Mediator Elinor Robin explained the four legal processes, starting with a simple do-it-yourself divorce. Picking the wrong process is one of the deadly sins of divorce, she said. Panelists Pam Polani, a wills, trusts and estates attorney, and Elizabeth Dunn, CPA, talked about the ramifications of death and taxes. Laurie Dubowe, a real estate broker, warned that the decision to keep the house and the dog may not be the best financially. Divorce brings up all kinds of emotions – fear, worry, guilt, anger – when you need to be calm and centered, said Suzanne Wachtel of Therapy Boca. Therapy is critical in planning for the future.
For more information, visit DivorceCoachSupport.com. The next Florida Divorce Expo seminar is March 11. Email info@FloridaDivorceExpo.com.
Please be aware that traditionally if the bank takes your home in foreclosure by short sale or a Deed In Lieu, and you have NOT had the deficiency amount waived, then the Bank (or company to who they sell that debt) WILL likely pursue that legal action against you. You may not have a home for them to take but they can still continue to litigate against other assets to satisfy the amount owed.
However, now under the recent law passed in Florida, deficiency claims are addressed as follows:
95.11 Limitations other than for the recovery of real property.—Actions other than for recovery of real property shall be commenced as follows:
(2) WITHIN FIVE YEARS.—
(b) A legal or equitable action on a contract, obligation, or liability founded on a written instrument, except for an action to enforce a claim against a payment bond, which shall be governed by the applicable provisions of paragraph (5)(e), s. 255.05(10), s. 337.18(1), or s. 713.23(1)(e), and except for an action for a deficiency judgment governed by paragraph (5)(h).
(5) WITHIN ONE YEAR.—
(h) An action to enforce a claim of a deficiency related to a note secured by a mortgage against a residential property that is a one-family to four-familydwelling unit. The limitations period shall commence on the day after the certificate is issued by the clerk of court or the day after the mortgagee accepts a deed in lieu of foreclosure.
Section 2. The amendments made by this act to s. 95.11, Florida Statutes, apply to any action commenced on or after July 1, 2013, regardless of when the cause of action accrued. However, any action that would not have been barred under s. 95.11(2)(b), Florida Statutes 2012, before the effective date of this act must be commenced within 5 years after the action accrued or by July 1, 2014, whichever occurs first.
This means that in Florida, if your foreclosure sale occurred before July 1, 2013, the lender had until July 1, 2014 to file suit to collect on that deficiency. If it occurred after July 1, 2013 then the time period is 1 year from the date that the certificate of title is issued to the buyer at the foreclosure sale, not the foreclosure sale. Typically the difference in timing between the sale and the certificate issued is approximately a week or so, but this could be longer.
