Reasons High Asset Divorce Cases are Often More Costly

It is no surprise that divorce is often very expensive. Not only are the actual proceedings costly, but you may also lose property and be responsible for paying child or spousal support. When a couple has a significant amount of assets or high net worths, divorce can be even more expensive. Of course, this is not always the case but there are times when high asset couples incur unnecessary costs during divorce. Below, one of our Tampa contested divorce attorneys outlines the most common reasons for this, and how you can avoid them.

Unnecessary Legal Battles 

Couples with high assets may disagree over more terms than those who have less marital property to divide. Additionally, a lower-earning spouse may pursue spousal support, or alimony, while their spouse argues that the request is unfair. Divorce cases that involve many disputes always cost more than those that do not. When a dispute has to be resolved in court, it is even more expensive.

To avoid these additional costs, each spouse should enter into the process with clearly established goals. This can help each party determine when they really should fight for what they believe is fair, and when to concede to their spouse.

Use of Professionals

 High asset divorce cases often require more outside professionals. For example, appraisers may have to be brought in to value a business or other marital property. Financial experts may have to be brought in to review financial documents, and vocational experts may have to advise on the types of employment a dependent spouse may be able to perform post-divorce. These experts all charge their own fees, which can add to the cost of a high asset divorce. Couples cannot always avoid these costs, but the best way to lower them is to remain honest about all terms and issues that arise.

Avoiding Any Conflict 

While fighting over every issue will certainly increase the cost of divorce, it can be just as costly to give in on every single term. Some people do this because they do not want to argue, or they want to get the process over with. While this is understandable, it can also make the process more expensive. A spouse may agree to relinquish more marital property than necessary, or they might agree to pay support for a longer duration than the courts would have ordered. Although agreeing to terms can lower the cost, spouses should also always ensure their rights are protected.

Call Our Contested Divorce Attorneys in Tampa Today 

High asset divorce cases often involve issues that are more complex than others, including additional costs. While sometimes these are necessary, often they are not. At All Family Law Group, P.A., our Tampa contested divorce attorneys will help you identify your goals early in the process, protect your best interests, and negotiate with the other side for the fair settlement you are entitled to. Call us today at 813-672-1900 or contact us online to schedule an appointment with one of our experienced attorneys and to learn more about how we can help.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/0061.html