It seems that nowhere on earth is divorce more complicated than here in southern California. If you’re a spouse in a high-net worth marriage that is heading for divorce, you’ll need the counsel of an aggressive and experienced divorce attorney who routinely represents high-net worth clients and handles the most complicated divorce cases.
Timely Legal Counsel is Crucial
When you choose to divorce or when you find out that your spouse is divorcing you, contact an experienced Orange County divorce attorney immediately.
When a divorce is initiated, sometimes one spouse will financially disempower the other by canceling credit cards, closing bank accounts, and hiding valuable assets. It’s a coercive strategy aimed at forcing a quick and unfair settlement because the disempowered spouse can’t afford to continue prolonged litigation.
The Rise of Divorce Loans
It’s worked in the past, but now those “disempowered” spouses – at least some of them – have a way to fight back. A number of investment firms are offering “divorce loans” to divorcing spouses who are short on cash in divorce cases where millions of dollars are up for grabs.
Divorce loans can cover legal expenses and other obligations until a divorce becomes final. Investment firms offering the loans must believe that a certain “investment” will be profitable, but speaking frankly, divorce loans are not particularly good for borrowers. Retainers are usually required and interest rates are generally 16 to 20 percent.
Consult with Your Divorce Attorney
Talk with your divorce attorney before you accept a divorce loan. It may be a good, realistic option for some people who are divorcing, but for most people in California, your attorney will be able to recommend smarter and less costly options.
Every divorce is complicated, whether it involves millions of dollars or just a house and a checking account. As soon as you choose divorce – or even earlier, if you’re seeking legal advice – consult with an experienced Orange County divorce attorney to discuss your rights, goals, options, and legal needs heading into a divorce. Make the call as soon and as early in the process as possible.
