High Asset Divorce and Collaboration

Greed, trust and divorce.
How much is enough?
If you built a home together with your spouse and later divorced, you might expect to sell the home and divide the proceeds. What if you bought an exisiting home, improved it, watched it grow as an asset, and then decided to part ways? Would you trust your spouse to accurately represent its value? Would you get an appraisal?

What if your spouse forced you out of the home and then claimed the home was worth less than you thought; then your spouse worked out a secret deal to sell the home while telling you it was appraised at a certain value, inducing you to sign a Marital Settlement Agreement.

You might think this is Fraud. You might think your attorney should have done more to check on the value of the marital home. You might ask the court to throw out the settlement agreement due to fraud.

If the "Home" was the Los Angeles Dodgers, and the value asserted to you was $300 Million, and you settled your divorce for $144 Million, you might be very upset to learn the Dodgers were sold two weeks later for $2 Billion Dollars. Two Billion Dollars make a much larger pile of cash than $144 Million.

http://gma.yahoo.com/jamie-mccourt-claims-foul-pitch-131m-divorce-002230290--abc-news-celebrities.html

The McCourts Divorce has been news for a while.  Do the words Greed, Trust, Divorce, Marital Asset, of Fraud seem different in light of the story above?  The comments following it consistently fault the Wife for being "greedy" or "not doing her homework" or "not being happy with what she agreed to and received." Forget that the law indicates the "property" should be divided EQUALLY. Most observers fault her for wanting a fair share. Some comments from women are the Most appalling: "Oh come on! Take the $131 million and be happy, you old witch. I'm 59, no longer pretty, and would love a payload of $131 million for any reason. Don't get greedy. Were you the driving force behind your ex's success? I think not."

In reality, the former Mrs. McCourt was intimately involved in the Dodgers operations up until "he 'fired' her, and 'from that point forward, he completely excluded her from every aspect of management...'
Clients in Collaborative Divorce proceedings have certain luxuries that litigated cases do not afford. One feature is communication. Communication breeds trust. Trust overcomes greed. Everyone walks away much healthier, happier and overall less combative.

In a Collaborative Divorce, we work together to help you make intelligent decisions affecting your family. Many clients find Collaborative Divorce encourages more honest communications and disclosures while minimizing the costs to your family. One of the best features of a Collaborative Divorce may be keeing your private information and affairs PRIVATE. Noone has to know until you decide what to tell them.

If you would like a private consultation regarding your rights under Florida Law, please call me at (407) 645-3297, or visit my website at www.aubreylaw.com
You can also send an email to aubrey@aubreylaw.com or aubreylaw@gmail.com
Don't allow yourself to be cheated. You have certain rights under the law, but you must insist they be enforced. A

Brain Gym - Excercise Your Mind

My mother works the Sudoku puzzel every day. Many people work on crossword puzzels, or brain teasers daily. These activities help keep the mind working and can (according to research) stall or prevent alzheimers, dementia and other brain lag that typically occurs with aging.

http://www.kenneymyers.com/blog/24-blogs-with-things-you-can-do-to-keep-your-brain-sharp-as-you-age/

Somebody asked that I put this link in my blog, and I trust you will enjoy the link.

Call me when you have legal questions at 407-645-3297, especially those questions related to Collaborative Divorce, Elder Law, Family Law, Guardianships and HAMP tier I and Tier II Mortgage Modifications.

Or visit my website at www.aubreylaw.com

Helping Senior Adults, Elder Law 101

People ask me, "What is Elder Law?"

I answer, it is helping older Americans with problems that come up primarily due to age. You realize of course that after a certain number of years, thoughts of death become more prevalent and preparation becomes much more important. Children become adults and begin asking, "What do I do about my parents?" When parents begin needing assistance, adult children bear a great burden. They may have children of their own in school or starting out and suddenly, Mom needs a new place to live that will provide nursing care. These problems are not new; our processes of dealing with care of the elderly is not new. All over the globe, seniors are afforded great respect and care. Only in the United States do we warehouse seniors in "adult communities," Assisted Living Facilities and Nursing homes.

When Daddy needs nursing care, what questions should be answered?
First: How much care is needed?
Second: How much care can he afford?
Third: Who is responsible to pay when Daddy cannot?

Other questions that may come up include:

What about Social Security, and Medicare?
Do we need to do "Medicaid Planning?"
What is Medicaid Planning?

Parents may not wish to discuss their finances with adult children and may feel freer to discuss the details of planning with an Elder Law Professional. Many times parents have begun the process, but children are kept in the dark for fear that the children will want to "inherit" early. Many seniors have received advice regarding Medicaid Planning over the radio or television but may not understand fully the details. Many seniors worry about losing their homestead or the equity they have built up over the years. In Florida, we protect homesteads. The equity in the home can survive incapacity and death provided simple steps are taken to preserve all the rights afforded to homeowners.

When Medicaid begins to enter the conversation  with regard to health care, it may be too late. Most Health care Decisions must be made quickly; however, medicaid planning may require as much as 5 years to be fully effective.

When you are faced with these and other questions, Call me at 407-645-3297, or visit my website at www.aubreylaw.com

Medicaid Income and Asset limits

As of July 2008, in Florida, the Medicaid qualification limits are as follows:

Community Spouse Resource allowance: $104,400.00

Individual Resource Allowance: $2,000.00

Couple's Resource Allowance: (Assuming both in Nursing Home) $3,000.00

Minimum Monthly Maintenance Needs Allowance: $1,750.00

Maximum Monthly Maintenance Needs Allowance: $2,610.00

Personal Needs Allowance: $35.00

Shelter Allowance: $525.00

Standard Utility Allowance: $198.00

Maximum Income Allowable: $1,911.00

Home Equity Limit for Qualification: $500,000.00

Please consult an attorney for application of these limits to your Individual Situation. Many complicated rules may affect your individual qualification for Medicaid Nursing home payments.