Tampa's Best Divorce Lawyers: 1112 E. Kennedy Blvd. * Tampa, FL 33602 * T 813.222.8210 * F 813.222.8211
www.Galewski.com
www.GalewskiTitle.com
www.Galewski.com
www.GalewskiTitle.com
TAMPA DIVORCE ATTORNEY’S DIVORCE 101
Question of the week:
I am up-side-down or have negative equity in my home, how do we divide the property?
If you owe more than your house is worth, the court will typically agree with any agreement that you and
your spouse may decide upon. Options that have worked are that the property is treated as an asset and
the mortgage is treated as a liability and each item is divided accordingly. Other times the property is sold
and each side will pay a portion of the loss at closing. More often than not, the property will be either paid
by one spouse that will continue to live in the home, or the house will be sold via short sale, where the bank
will work with the parties and cover the loss.
I. TAMPA DIVORCE LAWYER’S DIVORCE 101
a. Equitable Distribution:
i. How are assets and debts divided through a Divorce?
ii. Inheritance and Gifts
b. Child Custody, Time Sharing and Child Support:
i. Can my Tampa Divorce Lawyer help me to obtain custody of my child?
ii. What is the difference between Child Custody, Time Sharing and Residential Parent?
iii. Can my Tampa Divorce Lawyer get me sole custody of my Child?
c. Alimony:
i. Can my Tampa Divorce Lawyer help me obtain Alimony?
ii. When is Alimony appropriate?
I. Tampa Divorce 101
a. Equitable Distribution
i. How are assets and debts divided through a Divorce?
Generally, all assets and debts purchase, acquired or created during the marriage, except inheritance or
gifts, are equally divided between the parties. Assets and debts are divided regardless of which party’s
name the assets are held in or which party created the asset or debt.
ii. Inheritance & Gifts
Generally, inheritance and gifts to one party from the spouse or a third party remain with recipient. There is
a caveat that if the asset is co-mingled into the marital assets the asset may become marital property. Your
Tampa Divorce Lawyer will meet with you for a free consultation and evaluation of your case. Each case is
different and your Tampa Divorce Lawyer will explain the factors relevant to your case and the applicable
law.
b. Child Custody, Time Sharing and Child Support
i. Can my Tampa Divorce Lawyer help me to obtain custody of my child?
Possibly. Your Tampa Divorce Lawyer will meet with you for a free consultation and evaluation of your
case. Your Tampa Divorce Lawyer will explain that the Court will likely evaluate three issues in regard to
your child’s well being: Custody (or decision making ability), timesharing and child support.
ii. What is the difference between Child Custody and Time Sharing/Residence?
Your Tampa Divorce Lawyer will explain that child custody is the parents control over the major decisions in
the life of the child. These decisions include medical, educational and religious decisions. Time sharing is
the breakdown of the time that the child will spend with each parent during the week. Typically the Court will
assign a primary residential parent, or give the child a primary home, and by default the other parent will be
the secondary residential parent or get visitation time. There was a significant law change in regard to child
custody and timesharing that took effect on October 1, 2008, but that law does not necessarily translate to
equal time. The Court is looking to remove the fight over primary residential rights and now wants people to
focus on how they will share time with the child. This is different from mandatory 50/50 time. The Court
must still look to the best interest of the child to determine how time will be shared between the parents.
Moreover, the Divorce Court will want you to work with your co-parent to develop a time sharing parenting
plan. To evaluate the specifics of your case contact your Tampa divorce attorney.
iii. Can my Tampa Divorce Lawyer get me sole custody of my Child?
Possibly. Sole custody is only appropriate in the most extreme cases. Your Tampa Divorce Lawyer will meet
with you for a free consultation and evaluation of your case. Your Tampa Divorce Lawyer will explain that
sole custody generally is appropriate if the other parent is a danger to the child. The danger must be real
and direct to the child, and not mere accusations that you are a better parent.
iv. How does my Tampa Divorce Lawyer prove that I am the best candidate to be the child’s
primary residential parent?
Each case is different, but your Tampa Divorce Lawyer will meet with you for a free consultation and
evaluation of your case. Your Tampa Divorce Lawyer will explain how the facts of your case fit into the
factors that the judge will review, and even how your particular judge has evaluated similar cases in the
past. The Court is bound to look at the factors set forth in Fla. Stat. 61.13(3).3.
c. Alimony
i. Can my Tampa Divorce Lawyer help me obtain Alimony?
Possibly. Alimony is appropriate in many cases. Your Tampa Divorce Lawyer will meet with you for a free
consultation and evaluation of your case. Your Tampa Divorce Lawyer will explain that alimony is a general
formula based upon need and ability to pay. You may be entitled to alimony if you have a need for financial
assistance and your partner has an ability to pay you alimony.
ii. When is Alimony appropriate?
Alimony is appropriate in many cases. Your Tampa Divorce Lawyer will meet with you for a free
consultation and evaluation of your case. Generally, permanent alimony is only appropriate in cases where
the parities were married for more then 10 years and you have a need for financial assistance and your
partner has an ability to pay you alimony.
Question of the week:
I am up-side-down or have negative equity in my home, how do we divide the property?
If you owe more than your house is worth, the court will typically agree with any agreement that you and
your spouse may decide upon. Options that have worked are that the property is treated as an asset and
the mortgage is treated as a liability and each item is divided accordingly. Other times the property is sold
and each side will pay a portion of the loss at closing. More often than not, the property will be either paid
by one spouse that will continue to live in the home, or the house will be sold via short sale, where the bank
will work with the parties and cover the loss.
I. TAMPA DIVORCE LAWYER’S DIVORCE 101
a. Equitable Distribution:
i. How are assets and debts divided through a Divorce?
ii. Inheritance and Gifts
b. Child Custody, Time Sharing and Child Support:
i. Can my Tampa Divorce Lawyer help me to obtain custody of my child?
ii. What is the difference between Child Custody, Time Sharing and Residential Parent?
iii. Can my Tampa Divorce Lawyer get me sole custody of my Child?
c. Alimony:
i. Can my Tampa Divorce Lawyer help me obtain Alimony?
ii. When is Alimony appropriate?
I. Tampa Divorce 101
a. Equitable Distribution
i. How are assets and debts divided through a Divorce?
Generally, all assets and debts purchase, acquired or created during the marriage, except inheritance or
gifts, are equally divided between the parties. Assets and debts are divided regardless of which party’s
name the assets are held in or which party created the asset or debt.
ii. Inheritance & Gifts
Generally, inheritance and gifts to one party from the spouse or a third party remain with recipient. There is
a caveat that if the asset is co-mingled into the marital assets the asset may become marital property. Your
Tampa Divorce Lawyer will meet with you for a free consultation and evaluation of your case. Each case is
different and your Tampa Divorce Lawyer will explain the factors relevant to your case and the applicable
law.
b. Child Custody, Time Sharing and Child Support
i. Can my Tampa Divorce Lawyer help me to obtain custody of my child?
Possibly. Your Tampa Divorce Lawyer will meet with you for a free consultation and evaluation of your
case. Your Tampa Divorce Lawyer will explain that the Court will likely evaluate three issues in regard to
your child’s well being: Custody (or decision making ability), timesharing and child support.
ii. What is the difference between Child Custody and Time Sharing/Residence?
Your Tampa Divorce Lawyer will explain that child custody is the parents control over the major decisions in
the life of the child. These decisions include medical, educational and religious decisions. Time sharing is
the breakdown of the time that the child will spend with each parent during the week. Typically the Court will
assign a primary residential parent, or give the child a primary home, and by default the other parent will be
the secondary residential parent or get visitation time. There was a significant law change in regard to child
custody and timesharing that took effect on October 1, 2008, but that law does not necessarily translate to
equal time. The Court is looking to remove the fight over primary residential rights and now wants people to
focus on how they will share time with the child. This is different from mandatory 50/50 time. The Court
must still look to the best interest of the child to determine how time will be shared between the parents.
Moreover, the Divorce Court will want you to work with your co-parent to develop a time sharing parenting
plan. To evaluate the specifics of your case contact your Tampa divorce attorney.
iii. Can my Tampa Divorce Lawyer get me sole custody of my Child?
Possibly. Sole custody is only appropriate in the most extreme cases. Your Tampa Divorce Lawyer will meet
with you for a free consultation and evaluation of your case. Your Tampa Divorce Lawyer will explain that
sole custody generally is appropriate if the other parent is a danger to the child. The danger must be real
and direct to the child, and not mere accusations that you are a better parent.
iv. How does my Tampa Divorce Lawyer prove that I am the best candidate to be the child’s
primary residential parent?
Each case is different, but your Tampa Divorce Lawyer will meet with you for a free consultation and
evaluation of your case. Your Tampa Divorce Lawyer will explain how the facts of your case fit into the
factors that the judge will review, and even how your particular judge has evaluated similar cases in the
past. The Court is bound to look at the factors set forth in Fla. Stat. 61.13(3).3.
c. Alimony
i. Can my Tampa Divorce Lawyer help me obtain Alimony?
Possibly. Alimony is appropriate in many cases. Your Tampa Divorce Lawyer will meet with you for a free
consultation and evaluation of your case. Your Tampa Divorce Lawyer will explain that alimony is a general
formula based upon need and ability to pay. You may be entitled to alimony if you have a need for financial
assistance and your partner has an ability to pay you alimony.
ii. When is Alimony appropriate?
Alimony is appropriate in many cases. Your Tampa Divorce Lawyer will meet with you for a free
consultation and evaluation of your case. Generally, permanent alimony is only appropriate in cases where
the parities were married for more then 10 years and you have a need for financial assistance and your
partner has an ability to pay you alimony.
Tampa Bankruptcy Attorney’s Update to the Bankruptcy Mortgage Reduction or Bankruptcy Mortgage Modification
Amendments:
Senate Rejects Mortgage Cramdown Provision
The Senate defeated by 51 to 45 votes an amendment to the Helping Families Save Their Homes Act that would have granted bankruptcy judges broad
authority to modify the mortgage terms for at-risk homeowners.
Assistant Senate Majority Leader Dick Durbin, D-Ill., chief sponsor of the ‘cramdown’ provision, said he was disappointed with the vote but would continue to
bring the issue to the floor “until the Senate decides to put the interests of homeowners above the interests of bankers.” Durbin noted that the number of
homeowners at risk of losing their homes now stands at over eight million, compared to nearly two million only two years ago.
“We’ve given the bankers who got us into this crisis every opportunity to responsibly address this crisis and they have failed,” Durbin said.
The White House said that notwithstanding the Senate vote on the Durbin amendment it looks forward to working with Congress to craft “appropriately tailored
legislation to provide a mechanism for homeowners who are out of other options to file for bankruptcy and implement a responsible plan to pay the debts that
they are able to pay.”
Meanwhile, Senate Minority Leader Mitch McConnell, R-Ky., said the provision would have lead to higher interest rates and even greater uncertainty in the
housing and credit markets. “It’s clear that we cannot fix the housing problem by implementing bad policies,” he said.
The American Bankers Association agreed, noting that Congress and the administration have taken several strong steps to help troubled borrowers and get
the economy back on track. “Giving bankruptcy judges broad cramdown authority would work against those efforts and effectively undermine the goal of
stabilizing the housing market,” the association said.
Analysis: Your Tampa Bankruptcy Lawyer notes that this means that for the time a Bankruptcy cannot be used to
reduce the principal amount due on a first mortgage, but since the House has passed the Bankruptcy Reform Bill,
it is possible that a Bankruptcy Judge may have the authority to cramdown or modify a mortgage in the near
future.
Amendments:
Senate Rejects Mortgage Cramdown Provision
The Senate defeated by 51 to 45 votes an amendment to the Helping Families Save Their Homes Act that would have granted bankruptcy judges broad
authority to modify the mortgage terms for at-risk homeowners.
Assistant Senate Majority Leader Dick Durbin, D-Ill., chief sponsor of the ‘cramdown’ provision, said he was disappointed with the vote but would continue to
bring the issue to the floor “until the Senate decides to put the interests of homeowners above the interests of bankers.” Durbin noted that the number of
homeowners at risk of losing their homes now stands at over eight million, compared to nearly two million only two years ago.
“We’ve given the bankers who got us into this crisis every opportunity to responsibly address this crisis and they have failed,” Durbin said.
The White House said that notwithstanding the Senate vote on the Durbin amendment it looks forward to working with Congress to craft “appropriately tailored
legislation to provide a mechanism for homeowners who are out of other options to file for bankruptcy and implement a responsible plan to pay the debts that
they are able to pay.”
Meanwhile, Senate Minority Leader Mitch McConnell, R-Ky., said the provision would have lead to higher interest rates and even greater uncertainty in the
housing and credit markets. “It’s clear that we cannot fix the housing problem by implementing bad policies,” he said.
The American Bankers Association agreed, noting that Congress and the administration have taken several strong steps to help troubled borrowers and get
the economy back on track. “Giving bankruptcy judges broad cramdown authority would work against those efforts and effectively undermine the goal of
stabilizing the housing market,” the association said.
Analysis: Your Tampa Bankruptcy Lawyer notes that this means that for the time a Bankruptcy cannot be used to
reduce the principal amount due on a first mortgage, but since the House has passed the Bankruptcy Reform Bill,
it is possible that a Bankruptcy Judge may have the authority to cramdown or modify a mortgage in the near
future.
Tampa Divorce Attorney 1112 E. Kennedy Blvd, Tampa Fl 33602, Galewski Law Group, P.A.
| Home Practice Areas Tampa Lawyers Contact Disclaimer Links Tampa Bankruptcy Forum Tampa Divorce Forum Privacy Policy |