Divorce Florida Style

By Michael H. Gora

Q: For two decades, my husband and I ran a restaurant.  We don’t take credit cards.  We also do not pay much in income taxes, as our cash registers always run out of tape when we are busy.   Instead of having a 401k we have (had) trunks full of the green stuff, and I do not mean spinach, all over the house.

Two weeks ago, I took my sister to New York for ten days.  …

By Cary B. Stamp CFP®, CDFA™

Charitable remainder trusts (CRTs) are a strategy used to convert an appreciated asset into an income stream with the remaining interest passing to a charity. Donors defer paying tax on the appreciated asset’s sale, plus they get an immediate tax deduction for the amount that will ultimately pass to the charity.

The arrangement is irrevocable. But that doesn’t mean the funds are locked up for life.

For example, a divorcing couple who has a CRT can simply terminate the trust and split up the assets between the …

By: Cary B. Stamp CFP®, CDFA™

Between 40 to 50 percent of marriages end in divorce. Indeed a disturbing figure. However, throw in the stress of raising a child with “special needs” and that number shoots up to 85 to 90 percent! And it is estimated that up to 31 percent of children under age18 have two or more special needs.

Children are often the most affected parties in any divorce. And when there is a child with physical, mental or …