There is more than one way to settle a high-asset divorce. Litigation is one way, but an alternative form of divorce resolution may be better in many circumstances.
What are the advantages of alternative divorce resolution?
There are multiple benefits of resolving your divorce issues without litigation, including:
- It protects your children: Growing up in the limelight is challenging enough without having intimate details of your parent’s marriage breakdown splashed across the tabloids and gossip columns.
- A litigious divorce could be bad for business: If you are a professional athlete or high profile celebrity, you may derive a large part of your income from image rights and sponsorship deals. You could lose valuable contracts if details of your personal life or marital problems come out. A sponsor may decide you no longer convey the values they wish to promote.
- It may reduce public backlash: When you have a reputation you want to uphold, having the details of your marital disputes made public can be a problem. You don’t want your image tarnished and your brand devalued.
- It reduces time and cost: If you want to process your divorce in the most efficient way, mediation or collaborative divorce can save you time and money.
- It reduces conflict: Being involved in divorce litigation can take a considerable mental toll on you, your spouse and your children. If you have children, it is imperative that you and your spouse can communicate civilly once your marriage ends. The less conflictive your divorce, the easier it will be to do so.
There is a lot at stake in a high-asset divorce. Not all of it can be measured in monetary terms. Understanding all the options available allows you to make the best choice for your situation.