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Posted on in Divorce

Inverness family law attorney, cost of divorce, divorce and finances, attorney fees, collaborative divorceFinancially, divorce can be expensive. Hence, the cost can deter some spouses from pursuing the dissolution of marriage. Various costs associated with divorce are unavoidable, but generally, choosing a process other than litigation to accomplish the dissolution of the marriage can greatly reduce the overall financial outlay. Such financial considerations may be of high importance if there is significant concern over maintaining financial stability after divorce.

Mediation and collaborative divorce give spouses more control over what expenses are incurred, and more easily allow couples to share costs. These options also give the parties more control over the outcome. Further, if a divorce is uncontested, i.e., all relevant issues are settled, the costs are relatively minimal. However, the more traditional route to divorce through litigation is sometimes necessary if the parties want very different outcomes, or if concerns over misconduct/misrepresentation are present.

Since one spouse is typically at a financial disadvantage, the prospect of litigation can be daunting, and potentially push him or her to agree to a quick settlement to avoid high legal fees and Court costs.

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Inverness divorce attorney, high net-worth divorcesThe divorce process requires both spouses to accept and expect that a considerable amount of money will be spent to dissolve the marriage. The expense of divorce is especially an issue for couples with high net-worth, and the associated complications often relate to property division and spousal maintenance.

One cost that parties are particularly reluctant to pay is attorney fees. While this cost may seem like a considerable amount, divorce attorneys provide valuable services that contribute to the outcome of Court decisions on pivotal issues, such as child custody and the division of assets. However, which party pays attorney fees is a common negotiating point in divorce settlement agreements between wealthy spouses.

The Illinois Supreme Court recently issued a ruling in a case on the issue of attorney fees in a divorce that involved a considerable amount of litigation initiated by the same party. This decision could impact how legal fees are paid in divorce cases going forward, making the exploration of the Court's rationale necessary.

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