Sunday, January 24, 2016

Guardianships: A Broken Trust: Judge's History of Debt, Foreclosures, IRS Liens

Judge Colin,  Elizabeth Savitt's husband
[Judge] Colin and [Elizabeth] Savitt are positioned as the power couple of the lucrative probate arena. Colin’s financial history, however, is littered with debt, including suits for foreclosure on three properties and $65,000 once owed to the IRS for back taxes.

Savitt also had a recent foreclosure on a property. The couple’s financial problems appear to have eased since she became a professional guardian.

Elizabeth Savitt, Judge Colin's wife
Financial records show Savitt’s finances are mainly separate from the judge’s, but it appears the couple has co-mingled finances at least somewhat, West Palm Beach accountant Richard Rampell said. He pointed to a co-signed $30,000 loan from Helen Rich, a Wrigley chewing gum heiress who was a former client of Colin’s when he practiced as a divorce lawyer.

And even with couples who keep their finances separate, there is bound to be overlap, Rampell said.

“It’s very common, especially if one makes more money than other. And even if they say they don’t, they often do,” Rampell.

Full Article and Source:
Guardianships:  A Broken Trust:  Judge's History of Debt, Foreclosures, IRS Liens

1 comment:

StandUp said...

I have heard the average salary for a good guardian is $60K. Guardians should have to report their total earnings each year to the court and the state.