The days when divorcing was an almost sure cause for becoming a social outcast are long gone. These days divorces are commonplace and single parent families have become a normal phenomenon. Unfortunately, when a marriage breaks up it is not simply a matter of separating. There are numerous decisions to be made and the process can easily become very expensive. In many instances one or both partners simply cannot afford the process and are therefore forced to seek divorce financing.
The vast majority of people will quickly find out that they will be poorer after the separation. Savings, assets and investments that took years to accumulate may have to be liquidated in a hurry, often at a loss. Then there is the cost of hiring an attorney or often even two attorneys. These legal representatives charge extremely high fees and can cause the process to drag on for a long time.
If divorcing couples are reasonable, fair and willing to negotiate in good faith, they can do much to lower the cost of the process. If they can, for example, reach agreement on the division of their assets, custody matters and maintenance issues then they do not need lawyers to negotiate with other lawyers on these matters. Every minute that a lawyer spend on a case is charged. In an uncontested case only one lawyer is necessary.
It is mostly hotly contested divorces that become prohibitively expensive. If the partners are spiteful, angry or vindictive the negotiating between the lawyers may take a long time, resulting in very high fees. These fees rise dramatically the moment the lawyers set foot in court. There is also the added disadvantage of contested divorces being open to public scrutiny and neither of the partners are entitled to any privacy.
Couples that find that they do not have the money necessary to finance their divorces may have to resort to applying for loans specially meant for this purpose. There are numerous financiers that will finance divorces, but they charge hefty service fees and their terms and conditions can be very strict. In fact, such financing can easily leave both partners financially crippled.
Financial experts agree that it is better to sell joint assets in order to finance divorces than to use borrowed money. By borrowing money from a pension fund, for example, better rates can be obtained and the payback terms will be more reasonable. Other assets that will be divided between the two partners can also be sold in order to raise the money necessary to pay for divorces.
There is a trend among newly married couples to purchase special insurance that specifically caters for future legal costs. Critics say these couple actively plan for divorce but this is not the case. It is true that these policies will pay for the cost of divorces, but they are primarily meant for a wide variety of legal issues that may face families from time to time.
Experts agree that the very high cost of divorces can often be ascribed to the fact that the divorcing couple, or at least one of the partners, refuse to be reasonable. In such cases the main beneficiaries will always be the lawyers. Divorces are sad and emotional, but if reason prevail it does not have to be so costly.
The vast majority of people will quickly find out that they will be poorer after the separation. Savings, assets and investments that took years to accumulate may have to be liquidated in a hurry, often at a loss. Then there is the cost of hiring an attorney or often even two attorneys. These legal representatives charge extremely high fees and can cause the process to drag on for a long time.
If divorcing couples are reasonable, fair and willing to negotiate in good faith, they can do much to lower the cost of the process. If they can, for example, reach agreement on the division of their assets, custody matters and maintenance issues then they do not need lawyers to negotiate with other lawyers on these matters. Every minute that a lawyer spend on a case is charged. In an uncontested case only one lawyer is necessary.
It is mostly hotly contested divorces that become prohibitively expensive. If the partners are spiteful, angry or vindictive the negotiating between the lawyers may take a long time, resulting in very high fees. These fees rise dramatically the moment the lawyers set foot in court. There is also the added disadvantage of contested divorces being open to public scrutiny and neither of the partners are entitled to any privacy.
Couples that find that they do not have the money necessary to finance their divorces may have to resort to applying for loans specially meant for this purpose. There are numerous financiers that will finance divorces, but they charge hefty service fees and their terms and conditions can be very strict. In fact, such financing can easily leave both partners financially crippled.
Financial experts agree that it is better to sell joint assets in order to finance divorces than to use borrowed money. By borrowing money from a pension fund, for example, better rates can be obtained and the payback terms will be more reasonable. Other assets that will be divided between the two partners can also be sold in order to raise the money necessary to pay for divorces.
There is a trend among newly married couples to purchase special insurance that specifically caters for future legal costs. Critics say these couple actively plan for divorce but this is not the case. It is true that these policies will pay for the cost of divorces, but they are primarily meant for a wide variety of legal issues that may face families from time to time.
Experts agree that the very high cost of divorces can often be ascribed to the fact that the divorcing couple, or at least one of the partners, refuse to be reasonable. In such cases the main beneficiaries will always be the lawyers. Divorces are sad and emotional, but if reason prevail it does not have to be so costly.
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