When a couple is facing divorce, they are likely dealing with immeasurable anxiety and ready for the process to be over so they can begin the next chapter of their lives. Stories of divorce cases that drag on for years only add to the stress of the situation, but most cases can be resolved more quickly, depending on factors such as:
- One spouse running a business that constitutes a majority of the couple’s assets
- Whether the couple has children
- How many contested items there are
- The experience and skill of the parties’ lawyers
When a couple has acquired significant assets during their marriage, the divorce process can be complicated, so it is essential to have a knowledgeable high asset attorney to handle the case.
What Is the Average Timeframe for a High Asset Divorce in Oklahoma?
Every divorce case is made up of unique circumstances, but a typical timeframe is 18-24 months for a couple with significant assets. When an individual has their initial consultation with their attorney, they should fully explain the circumstances that led up to the divorce and discuss the assets they would like to keep. The attorney will also want to know the likelihood of the spouse contesting their claim to the assets.
In some situations, the attorney may suggest that the couple seek mediation or attempt to settle amicably before taking the matter to court. Doing so makes the process considerably shorter and saves a lot of money. If the couple is unable to reach an amicable resolution, however, they may need to go to court and potentially wait up to five years before their divorce is finalized. A skilled attorney can often help to expedite the process and reach an outcome sooner, though, so it is crucial to seek one with experience in high asset divorce.
What If There Are Few Contested Items?
Divorces with few contested items are the simplest, so when a couple can reach an agreement on which one gets which assets, the divorce can be completed relatively quickly. In an ideal scenario wherein the couple can easily reach an agreement, many may wonder if it is even necessary to hire a divorce lawyer. In most cases, it is preferable to hire an attorney, as they can review all documents to make sure their client doesn’t sign anything that may negatively affect them at a later time, and they can counsel their client on whether the settlement is a fair one. It is easy to miss details in the fine print of divorce documents, so it is wise to have an expert advisor.
What If There Are a Significant Number of Contested Items?
When the parties involved in a divorce have significant assets and both feel that they are entitled to many of them, the case may need to go to trial and is likely to take more than a year to resolve. The individuals need to spend time with their attorneys collecting the evidence they require for their case and wait for court dates before they can even get into a courtroom.
Choosing the Right Attorney Is Essential
The lawyer that an individual selects to handle their case can have a great impact on the outcome. A skilled divorce lawyer can help their client to gather the necessary proof that they are entitled to the assets they desire, as well as handle negotiations with the other side. An inexperienced or unprofessional attorney may fail to file documents in a timely manner and delay the process by exercising poor communication skills.
An experienced attorney with a proven track record, on the other hand, can help their client to reach the best possible outcome. Reputable divorce lawyers meet deadlines and have the negotiation skills to handle anything the other side throws at them.
What If There Are Children Involved?
Divorce cases involving children are always a bit more complex, as child support, child custody, and conservatorship must be considered. This may slow the timeline for the divorce, as the judge must ensure the best interests of the children are served. In some cases, this may act as a motivator for the couple to reach a solution to their disagreements since the parents are likely to want an outcome that allows their children to adapt to life after their parents divorce more quickly.
Should You Seek Mediation or a Trial?
A majority of divorce cases never go to trial because the couple is able to resolve their disagreements without having a judge intervene. However, they typically need someone to help them negotiate with their spouse to finalize the details of the divorce. This is where mediation is beneficial, as it is a solution that brings in a neutral third party, the mediator, to help the two parties resolve their conflicts over assets and other details.
Since couples going through a divorce typically have trouble working together, the mediator can help them to voice their concerns in a reasonable manner that is more appealing and leads to an amicable solution. When a couple can successfully work with a mediator, it saves many delays and the hassle of going to court.
What If There Is a Business Involved in the Divorce?
When a couple has their own business, it can make a divorce more complex, especially when the business is the primary asset the couple shares. If the couple’s situation is one in which they are co-owners of the business, they likely need to arrange a new business plan. If they are unable to continue working together professionally and keep their personal lives out of the equation, they either need to sell the business so the assets can be divided, or one of the parties needs to buy the other out.
In a scenario in which only one partner is involved in the business, along with other individuals outside the marriage, complications also arise. In these cases, a judge must make a decision aimed at pleasing each spouse, as well as the other partners in the business. Business partners outside the marriage should not be affected by the fact that a partner is going through a divorce.
Turn to an Attorney You Can Trust
If you are facing a divorce, and you and your spouse have significant assets, it is vital to have a knowledgeable divorce lawyer on your side. The expert legal team at Stange Law Firm has the experience to help you achieve the best outcome. Contact us online to find out how.