Reducing the cost of supersonic divorce fees
According to newspaper reports, Gallagher and Appleton spent a combined £800,000 on legal costs, enough we believe to buy a champagne supernova.
We hope the couple don’t look back in anger at the amount they spent to secure the financial settlement which is reported to split their nearly £11m assets in half.
Even the judge branded the spending on legal costs for this divorce case as ‘manifestly excessive’.
Legal expenses on divorce can add up little by little.
As someone getting divorced, you can either roll with it, or take steps to reduce the cost of divorce – leaving more of your assets intact for division between spouses.
Clearly the simplest route to lower divorce costs is to have an amicable separation, with the financial settlement agreed between the couple and then rubber stamped by a judge.
This route avoids expensive courtroom battles to agree on the finer details of the settlement.
It is believed that around 30% of divorces are settled in this uncontested manner.
Around two-thirds of divorces require a financial order to divide assets. These can be agreed between couples and their lawyers, and occasionally require a full court hearing which can be exceptionally expensive.
Good legal advice is always worth the cost, but keeping divorce fees low can be achieved by keeping things amicable, fully disclosing all income and assets, and choosing your lawyer wisely.
We work with divorcing couples to establish a Financial Plan which can be used as the basis for a financial settlement, reducing the legal expenses required to thrash out the details on specialist areas including pensions.
Some might say that engaging a Financial Planner to calculate a fair financial settlement is a common sense approach to getting divorced.
Before you acquiesce expensive legal fees for your divorce, why not give us a call for a friendly initial chat about your goals.[tweet_box]Don’t look back in anger when your divorce fees add up little by little.[/tweet_box]