The benefits of settling a high asset divorce out of court

On Behalf of | Dec 2, 2018 | high asset divorce

Whether entering into a simple, no asset divorce or a complex, high asset litigation, one thing remains the same; it is usually a stressful time. In the divorce of a high-profile couple with a multitude of assets to valuate and divide, there are a whole host of reasons to work hard at reaching a settlement agreement outside of court.

A 2014 article published by Forbes claims that the number one reason high-profile couples choose to arrive at a settlement instead of going to trial are the high costs of legal fees. Divorce cases that go to trial can end up costing parties many thousands of dollars by the time a Judge enters a final order.

Closely following, the second reason is to protect their privacy, especially where there are children involved. Malicious leaks of information can be detrimental to the well being of the divorcing parties, the children and to any business owned. If parties are unwilling to negotiate and settle with one another, a divorce can last for months or even years causing irreversible emotional and financial damage in the process. While mediation or negotiations can be handled in a private office, a trial becomes a public matter where anyone can attend. That means that your financial status and private home life are put on display.

Parties to a high asset divorce may consult with an experienced attorney who will help obtain reasonable market valuations for assets to be distributed. In addition, he or she can assist in negotiating an equitable distribution of things such as retirement accounts, business income, and the payment of alimony and child support. If parties are willing and able to treat each other with respect and fairness, the divorce process can be handled much quicker and more quietly than having to go through a difficult trial.