The Mortgage Loan AKA The Biggest Liability
Divorce Law
Content Staff 1
May 29, 2018
0
Orlando Divorce Attorney

The equitable distribution laws of Florida do not just apply to assets and property. But also to debts and liabilities. The most significant liability of many marriages is the mortgage on the family home. How can you go about splitting up this liability?

The most comfortable option is to sell the house and split the proceeds. This option makes sense and will usually be in both spouses interests. But the biggest obstacle here is actually selling the home. The housing market today will not make it easy to sell off your house for what you think it’s worth. But if this is a possibility, your Orlando Divorce Attorney will advise you to go for it.

The next option is to refinance the mortgage. In this case, one spouse should be willing to keep the house while the other is ready to let go. The spouse looking to keep it should be able to keep up with the mortgage payments. This spouse has to be able to qualify for a refinance with their income and credit score. This option also is available but not for all. The mortgage was initially obtained by both and getting one to qualify for a refinance is not easy.

When both those options are not available, couples have to stick with the original mortgage. That’s never the best option as you have to expect the other spouse to keep up with the mortgage payments.

Are you wondering about what to do with your mortgage? Consult your Divorce Attorney right away to get the best legal advice for your situation.

Orlando Divorce Attorney, Erin Morse is ready to give you the best legal counsel for your divorce matters. Contact the Law Office of Erin Morse now to find out more. Call her office to get the best lawyer in town for your case.

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What Happens To Retirement Accounts In A Divorce?
Divorce Law
Content Staff 1
May 18, 2018
0
 Affordable Orlando Divorce Lawyers

During a divorce, marital property will inevitably be divided among the two spouses according to the laws of the state. In Florida, the equitable distributions laws state how these marital assets and property are divided. Marital assets and property can be houses, vehicles and other property that was accumulated during the marriage. But that is not all. Even retirement accounts are considered as marital assets that will be divided during the divorce.

Equitable division of retirement accounts can be tricky and complicated if you do not know the law behind it. But Affordable Orlando Divorce Lawyers are always ready to help you out when it comes to these divorce matters. And who else other than them to know best about these issues.

Retirement plans can be of various forms. There can be traditional retirement plans like 401k plans, IRAs and Roth IRAs. Also, there are defined benefit plans and defined contribution plans. A defined benefit plan can also be called a pension as it gives a specific amount at retirement. The employer usually bears this responsibility. Defined contribution plans, on the other hand, let the employee save up for retirement. This account can even include contributions by the employer. But there is no specific amount guaranteed at retirement.

The amount accumulated in the retirement fund during the marriage will be applicable for the division during divorce. Not only the length of the marriage but each spouse’s contribution to the marriage will affect the end result. A competent Divorce Lawyer can get you the best possible outcome during the divorce.

Looking for Affordable Orlando Divorce Lawyers who can help you out with your divorce? Contact the Law Office of Erin Morse now to get the best legal counsel for your case. Call now to schedule an appointment right away to start discussing your case.

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Do You Need A Divorce Attorney?
Divorce Law
Content Staff 1
May 6, 2018
0
Orlando FL Divorce Attorney

Are you thinking of filing for divorce or have you already done so? Wondering whether you and your spouse can go through the divorce without a lawyer?

Of course, you don’t “need” a Divorce Attorney to proceed with a divorce. But there are countless reasons to do so, for ease and convenience.

Complicated and high-asset divorces usually do call for a Divorce Attorney. That is because the spouses need help with child support, spousal support, and time-sharing, etc. Not just that. When there are significantly valuable assets on the line, you might need the services of a competent lawyer. More often than not, many have reported being deprived of what is rightfully theirs, solely because they did not have a lawyer by their side.

Also, high-conflict divorces do need an Orlando FL Divorce Attorney. There are so many matters to be resolved during a divorce. High-conflict cases will find it even harder to do so. And with the probability of moving on to litigation, a lawyer by your side can be very helpful.

Instead, if you and your spouse have no conflicts at all and no children, maybe you don’t need a lawyer. If you don’t have valuable assets worth fighting for, your lawyer’s fees may surpass those assets’ worth. If you and your spouse are in no hurry to finalize the divorce too, a lawyer may not be needed.

But many have claimed that they would’ve had legal representation if they knew the consequences of not having one. It will invariably cost you more in fixing issues than actually getting a lawyer in the first place.

Wondering if you really need a lawyer for your divorce or not? Get a competent lawyer’s opinion right away. Call the Law Office of Erin Morse to find out if your case requires the assistance of a lawyer or not.

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