A divorce can be expensive, and sometimes, one party is substantially weaker financially if that party has been out of work. Divorce funding is aimed at helping that party go through the divorce and obtain a fair claim of marital assets after the dissolution of the marriage. “Divorce funding” is the term used to refer to the funding of the litigation fees required in a divorce proceeding.
Relying on the court to dissolve the marriage legally can be very time-consuming and expensive, and these can incur huge legal fees. Several alternatives are available for divorcees, including divorce funding to help cover the costs of the divorce and ensure that one gets a fair share from the divorce settlement.
You may have well-endowed family and friends to provide funding, but if you do not, there are highly specialized outfits that will lend you the sum of money required for the legal fees in exchange for a percentage or fixed payout after the settlement. These ‘divorce funds’ are perfectly legal but require one to meet certain criteria, which is usually based on the amount that can be claimed.
Divorce usually involves many different entities – attorneys, accountants, investigators, etc. All these agents need to be paid, not forgetting the legal fees of going to court. In the meantime, there are living expenses that are piling up day-to-day.
These divorce funds will fund the fees for an attorney, fees for forensic accountants, fees for private investigators, and also provide you with a living allowance. This is in exchange for a proportion of the settlement at the end of the divorce proceedings. The cut is usually about 20% of the settlement. While this may seem like a lot, it is still a considerable benefit to be able to see through to the divorce settlement.
If you get into an unfortunate situation of dissolving your marriage, consideration to detail & willingness to fight for your rights are essential in getting started on a positive path toward your future. If you need an accomplished, dedicated, and inspiring lawyer to represent you, please call 1-714~733-7066, the law office of Jos Family Law, the top Orange County Child Custody Attorney today.
