Divorcing couples who have a high net worth often expect a long, drawn-out, contentious battle. Thankfully, divorce does not have to be this way. In fact, many couples find they can resolve matters outside of court, with less stress and cost. The key is knowing if and when you should settle. Perhaps even more important is knowing when not to settle your divorce case. The following information explains further.
Aim High but Settle Reasonably
In a high net worth divorce, it is important to aim high. After all, selling yourself short can hurt you in the long run – especially if you are a disadvantaged spouse. Just how high should you aim? Well, it usually depends upon the net worth of your marital estate, which includes not just your own assets and income, but also your spouse’s. As such, it is crucial that you have an accurate valuation done before settling your case.
Aiming high is only half the equation though. You must also be willing to settle reasonably. At the very least, you should know what you might be entitled to in your divorce, and you should have a clear idea of what the judge might award you if the case went to litigation. Having this knowledge can give you a benchmark to work from when deciding whether your requests are overambitious. It can also help you determine when and where you should stand firm.
When to Litigate Your Case
If you have valued your marital estate, spoken with your attorney, know that you are not asking for too much, and are at even a slight risk for financial disadvantage after the divorce, you may want to pursue litigation, rather than settling. Those who are at a high risk for asset hiding should also consider litigation over settling. Also, victims of domestic violence should avoid any form of alternative dispute resolution methods. Litigation, though often more stressful and costly, can provide additional protections to keep you safe from your abuser.
Contact Our Wheaton Divorce Lawyer
Before moving forward with your divorce, seek an advocate that can aggressively protect your interests in divorce. Contact Abear Law Offices. Our Wheaton divorce lawyer can do more than just represent you; we can guide you and protect your rights, every step of the way. Schedule a personalized consultation by calling 630-904-3033 today.