$50 Million Cooperative Divorce Case.
Jan 01, 2012OUTCOME: Divorced quickly for about $3000
I have clients from various economic backgrounds, but this particular client had a net-worth of over $50 Million. I use his case as a perfect example of how simple a divorce action can be if the parti ... cipants will cooperate with each other. In this case, both spouses agreed that the marriage could not be saved. Neither of them wanted to do battle in a courtroom knowing that it would take years of heartache, and hundreds of thousands of dollars worth of legal and accounting fees. They worked together, divided their assets the way they thought was equitable and fair, and were divorced a few short weeks later. The paperwork was complicated, but that is precisely why they hired me. I was able to handle the legal formalities for them, walk the paperwork through the process, and the action was complete. Their out of pocket cost was around $3000. Instead of relying on the divorce process of hiring separate attorneys, going to court, and asking a Judge to make decisions for them, THEY STAYED IN CONTROL OF THEIR SITUATION! I always share this story as a contrast to the mistakes I see so many people make. Our traditional system of divorce is designed to be adversarial and therefore becomes very expensive! This couple with $50,000,000 in assets chose to stay out of the traditional court process and were divorced quickly for about $3000. It is my opinion that the "Average Joe" would also be much better served by staying out of the traditional court process.
