What Does the Law Require?

I cannot believe it has been more than 8 years since I originally penned this article. Still apropos especially given the current administration gutting of the Consumer Financial Protection Bureau and appointing a new Director who feels the CFPB is unnecessary and burdensome to Wall Street.

Many questions to attorneys ask, "What is required by Law" in a given situation.
Sometimes the Law requires less than our own Morality might believe is due. Other times, the Law may require significantly More than we truly believe is due and oweing.

One example can be found in Credit Card Interest Rates. We borrow money and expect to pay interest until the debt is extinguished. What we do not expect is that our creditor, be it Visa, MasterCard, AmericanExpress or Discover, will work to collect every dollar possible under the contract.

We all know and expect we will owe interest, perhaps even cash advance fees on credit cards. What we do not expect is for a Credit Card Company to lower the "Available Credit" to a point below our current "Outstanding Balance." When Overlimit fees apply, Minimum Payments go Up! If the Minimum Payment is not made we expect to pay a penalty; however, when the Lowered Available Credit causes an Overbalance condition with additional fees, and the Required Minimum Payment is increased by the Total Amount Over Limit, what was once a $150 or $250 payment is suddenly and UNEXPECTEDLY a Minimum Payment Due of $765 or worse. Additionally, the $39 overlimit fees along with the increased Interest Rate due to being Overlimit (usually a jump in interest of 10% to 25%) make the Credit Card Company a SIGNIFICANT REVENUE SOURCE. Why do you think the credit companies extend credit and solicit new credit even when people are making minimum payments?

All this as an example of What Does the Law Require. A new law gives consumers significantly more protection from the "legal" overreaching by credit companies. You can get more information at the following websites:

http://www.creditcards.com/credit-card-news/obama-signs-credit-card-law-1282.php

 

http://www.dailyfinance.com/2009/08/20/new-credit-card-laws/

http://www.creditcards.com/credit-card-news/credit-card-act-takes-effect-1282.php

The 8 Major Benefits of the new Law can be found here: http://www.bankrate.com/finance/credit-cards/8-major-benefits-of-new-credit-card-law-1.aspx

The real key is to Know What the Law Requires, and don't allow Fear or Intimidation to force you to do what the Law does not or cannot require.

 

To answer your questions, contact an attorney at our website: aubreylaw.com or FloridaGuardianAttorney.com

How do you Work Out Terms in a Collaborative Divorce

Working Out the Terms of your Spousal Support Agreement in a Collaborative Divorce

Spousal support, also known as alimony, is an issue that arises in many Florida divorces. It is the money one partner pays to the other after their divorce, generally for a fixed period of time but sometimes, until the receiving spouse remarries or either partner dies. This money is intended to help the spouse who opted out of the full-time workforce to care for the couple’s home and children during the marriage to avoid financial hardship.

 In a collaborative divorce, the divorcing couple works together to make their own determinations about their divorce settlement, rather than having the court make them. Alimony is often an issue discussed during collaborative divorces alongside parenting time and the division of the couple’s marital assets.

In Florida, you Can Waive your Right to Seek Spousal Support

Florida law permits individuals to waive their right to seek alimony in the event of their divorces in prenuptial agreements. This is not the case in all states.

Just like a collaborative divorce, a prenuptial agreement requires a couple to be flexible and willing to work together to make determinations that benefit them both, even in unpleasant situations like divorce.

Waiving Spousal Support in Exchange for a Larger Share of Marital Assets

When you divorce through collaboration, rather than litigation, you and your spouse work together to reach a divorce agreement that best fits your needs. In any divorce, dividing your marital assets is a component of the final settlement and often, it is the largest component of the settlement. Talk about potentially opting out of alimony in exchange for a more favorable share of your marital assets with your spouse, but also with your lawyer privately – there could be issues you do not initially recognize, like large tax burdens associated with certain marital assets or the long-term impact of choosing not to create an alimony order.

Collaborative Divorce is All About Keeping Control of your Divorce

Couples who choose collaborative divorce are often more satisfied with the results of their divorces than couples who divorce through litigation.

If you took on lower-paying jobs or opted out of the workforce completely during your marriage, alimony is a way to protect your financial future. Do not confuse the need to be amicable in a collaborative divorce with a need to agree with everything your spouse suggests. If you feel alimony is in your best interest, explain this and support your position with relevant facts during your collaborative divorce meetings. Your lawyer is your advocate, but you also need to advocate for yourself.

Work with an Experienced Winter Park Divorce Lawyer

When you are considering divorce, you have a lot on your mind. Before you begin the collaborative divorce process, discuss these issues with your divorce lawyer so you begin the process educated about Florida’s divorce laws and what you can expect given your case’s unique circumstances. Contact The Law Offices of Aubrey Harry Ducker, Jr., P.L.C. today to schedule your initial consultation with us.

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html

Talking to Your Spouse about Collaborative Divorce

When you have reached a point in your marriage where you know it is over, it is not always easy to have calm, grounded conversations with your partner.  
                                      
If you can manage to speak amicably, you can make the divorce process much easier for yourselves. One significant way you can make the divorce process easier is to choose a collaborative divorce.

If your spouse is not familiar with the concept of collaborative divorce, discuss it. Get all the information you can and have a kitchen table talk. There are many benefits for you both if you choose this type of divorce. Below are a few tips you can use to start and work through this discussion.

Present it in an Objective Way

Rather than trying to convince your spouse that a collaborative divorce is best for you, present it in an objective way. Contrast collaborative divorce with a traditional courtroom divorce and mediation, which could also be a route to explore for your divorce. Talk about the processes associated with each. Consider the costs of each. Consider where these costs will be paid.

Discuss the Benefits of Collaborative Divorce for your Divorce

Consider discussing the benefits of collaborative divorce in an objective way, like citing cost comparisons between the different divorce methods. During this discussion, bring up the reasons why you feel a collaborative divorce is ideal for you, which could be your ability to work together amicably or your desire to split your marital assets in a specific way, making it necessary that you retain control of the divorce process. Your reasons might not be more specific than that you want to save money, and there is nothing wrong with that. Your reasons for wanting to try collaboration are valid, as are any hesitations your spouse might have.

Encourage your Spouse to Do His or Her Own Research

You cannot decide how you will divorce on your own. Give your spouse the time to do his or her own research on the process and if he or she raises objections, listen to them. Your spouse might have a very different point of view about your marriage and how well you can be served by a collaborative divorce. It is important that you remember not to try to convince your spouse to agree to a collaborative divorce because it is what you want, but to work with him or her to determine the ideal divorce method for your divorce. If you cannot reach this initial agreement amicably, collaborative divorce probably is not right for you.

Work with an Experienced Winter Park Divorce Lawyer

If you are considering using collaborative law to end your marriage, work with a divorce lawyer who has experience handling collaborative divorces. Even though you are in control of the divorce when you choose collaboration, your lawyer can provide you with the essential legal advice and representation you need to successfully complete the process. To get started, contact The Law Offices of Aubrey Harry Ducker, Jr., P.L.C. today to set up your flat-rate consultation with us, either in our office or at your preferred location.

http://www.investopedia.com/terms/m/maritalproperty.asp