DIY Divorce in Florida

Florida Divorce & Mortgage Refinancing

Florida divorce settlements sometimes call for mortgage refinancing. We asked Jonathan Klein, CMPS, CDPP, of the Certified Divorce Planning Professional Institute, about current mortgage refinancing conditions. Here's what Jonathan said:

If your interest rate is above 6%, you have at least 20% equity and or you are in a variable rate mortgage that will begin adjusting within the next year it is time consider refinancing your mortgage. However, most variable rate mortgages are based on the 6 month LIBOR and thus are experiencing a significant reduction in rate upon their adjustment period and thus the borrower may want to consider sitting on the sideline.

If you are negotiating an agreement that requires refinancing, consider adding specific terms that require a spouse to apply. For example, when a 30 year fixed term at 5.45 APR is available. Be sure the agreement also requires that the spouse qualify for the mortgage.

In the upcoming Divorce Professor's Crash Course on Florida Divorce Law, we'll be talking about important settlement agreement terms like mortgage refinancing terms during your Florida divorce. If you are considering representing yourself in a Florida divorce, get our Special Report and enroll in our Tele-Test Drive Class on Florida Divorce Law.

Divorce Causes Changes to Florida Pre-Paid College Tuition Plans

Many divorcing parents in Florida have started Pre-Paid College Plans for their children.  Recent changes  to Florida Prepaid College Plan rules now make them harder to cancel and thus, more likely to be there when a child actually needs it.

Sen. Ted Deutch, D-Boca Raton, sought the rule change after one of his constituent's ex-husband cashed out their son's plan over her protests. The Plan was only in the husband's name.  Thanks to the rule change, prepaid plans bought after Feb. 1, 2009, will require both the purchaser/owner and any listed survivor to agree before a plan can be cashed out, if done so before the child goes to college.

For those who bought a prepaid plan before Feb. 1, 2009, the plan owner can add a survivor and request the survivor have a right of refusal for any plan cancellations or changes.  But,  a Plan owner who wants sole control of the Plan can still choose not to list a survivor. In that case, the Plan could still be unilaterally cancelled.

Be sure you know who owns your kids' Florida Pre-Paid College Plan, so you can make the appropriate agreements regarding the Plan during your Florida divorce.

Divorce Overwhelm

Divorce CAN be overwhelming. In today's post,Lisa Decker, Certified Divorce Financial Analyst, answers the question - Where Do I Start?

Hi Lisa, 

Help...I'm feeling so overwhelmed by everything with my divorce,  I don't know where to begin.  So many details to attend to and papers to gather.  Any suggestions?

A.K., Covington, Ga.

Dear A.K.,

First let me say that what you are feeling is normal.  I hope you will join in on the webinar, Divorce Dollars and $ense this week as there will be lots of helpful advice there. 

This excerpt from a recent article I wrote, "Wise Ways to Make Divorce Decisions," should give you more food for thought.

Divorce, like many life-altering challenges, has many decisions to be faced and dealt with.  There are documents to be gathered for the financial aspects, issues to be dealt with on the legal side, and relationship issues with children and soon-to-be ex's.  Any one of these can be exhausting, but in combination, they can be flat out overwhelming, leading to more stress in an already distressing environment.

I find clients typically fall into one of these modes when faced with decisions:

•     They shut down and don't do anything unless and until it is absolutely necessary;
  
•     They make rash decisions that may not always be in their interests because they hurry  through the decision making process;
  
•     They research and become fixated by analysis paralysis.
  
•     Some combination of above.

Obviously, none of these are ideal in helping you get from where you are to where you want to go. 

I have many people come to me saying that they felt pressured to make decisions at the settlement table about matters they did not understand.  They didn't feel comfortable asking questions because

Florida Divorce: When Is It Final?

You filed for divorce, your spouse answered, you went to a final hearing. So when is your divorce "final?"
This question usually arises when one of the divorcing spouses wants to remarry immediately.

Most people believe that the divorce is final when the Final Judgment is signed by the judge. If you take a proposed Final Judgment to your final hearing and the judge signs it, your Final Judgment has been "entered" by the court. But the judgment is not yet "final."

That's because an order can be appealed during the 30 days after a judgment is entered. If your Final Judgment is appealed, it will not be final until the appeal is finished.

Even without an appeal, your Final Judgment is not "final" until after that 30 day period has finished. That's why divorce lawyers advise clients not to get remarried during this time. After the 30 days and the time to file the appeal is over, your Final Judgment is really final.

To learn more about representing yourself in a Florida divorce, sign up for our Tele Test Drive FLorida Divorce class.

Florida Divorce: Order in the House!

Developing a Parenting Plan as soon as possible after the divorce decision has been made is something I advocate strongly. Those who have taken the DIY Divorce Parenting Plan Study Course know that I sometimes sound like a broken record (broken CD?) talking about the importance of stability in children's lives. But stability is important for kids.

A new study shows just how important stability can be. Professors from Columbia Teacher's College studied children's early reading skills and the degree of household disorganization & schedules. Although some think the results of "Order in the House" were surprising, I don't. Kids with regular schedules and more orderly homes have higher reading comprehension. The professors were studying reading skills but these same principles apply in most areas of your children's lives.

Kids want and need stability to do well in life. If you want your kids to get through the divorce with as little damage as possible, get them into a stable routine as soon as possible. And while you're at it, please put away that load of laundry. Who knows? The FCAT is coming and your kids might just do better, despite your divorce proceeding.