High net-worth individuals need to be savvy when looking for a Westchester divorce lawyer. Indeed, all consumers need to be well informed if they are seeking a divorce attorney. That said, high net-worth individuals are especially vulnerable to potential exploitation by attorneys who are eager to generate many “billable hours.”
Here are some things to consider when researching and interviewing divorce attorneys.
• For most high net worth individuals, collaborative divorce is probably your best option. It is much less expensive than a traditional litigated divorce (divorce through the court system). And since most litigated divorces are settled “on the courthouse steps” so to speak, why not start out with the specific goal of getting a good settlement?
• If you are interviewing an attorney who has a reputation as a litigator, what do they say about your options? Do they mention collaborative and mediation as possible alternatives? If not, buyer beware! Litigation is like surgery: risky and expensive, and should only be done when necessary.
• If you are considering collaborative as a possibility, does the attorney have extensive training and experience in collaborative? There are litigators who also have training and experience in collaborative, and they do a fine job at both. However, there are litigators who dabble in collaborative and just don’t have the skills to keep the negotiations from becoming adversarial. With such an attorney, your case will be much more difficult and expensive to settle. (In fact, there are some unethical litigators who see high net-worth clients as deep pockets, and will deliberately exacerbate conflict in order to generate more billable hours.)
As in all other major decisions involving money, do some research! Learn more about the advantages and disadvantages of collaborative divorce, mediation, and litigation. Here is a comparison of time and costs involved in two Westchester divorces: one litigated, one collaborative. https://www.westchesterdivorcelawyer.com/cost-of-divorce-for-high-net-worth-individuals
Here is a very good online article on litigation vs. mediation or collaborative. http://familylawyermagazine.com/articles/mediation-vs-litigation-for-high-conflict-divorce
Bottom line: If you are serious about doing your Westchester divorce collaboratively, make sure you have an expert in collaborative negotiation.
© Arnold D. Cribari 2016
