When Illinois couples choose to end their marriages, various legal challenges may arise. It has often been the case that a person cannot proceed as planned due to lack of available finances. Apparently, there are now several companies whose main goal is to provide money to clients who have insufficient funds to fully settle a divorce.
Often, clients who turn to such companies are those whose divorces have been dragging on for years. Many of these clients have an estimated net worth value that exceeds $10 million. However, problems arise when one spouse is delaying a fair settlement and the other spouse does not have immediate access to the money that could help pay for further litigation to resolve the legal issues at hand.
The former wife of the SAC Capital Advisors hedge fund founder said that millions had been concealed from her in the divorce proceedings that ended her marriage. She apparently lacked the funds to pursue the matter in court. Reportedly, she overcame those obstacles by turning to a divorce funding company who provided more than $1 million so that she could seek justice against her former spouse.
Companies who will fund a divorce in Illinois or elsewhere typically have their own operating procedures. Some charge a flat-rate fee, while others are paid a certain percentage from the final proceeds awarded to a client. Any person with questions or concerns about the legalities of such situations or potential issues that may arise is advised to seek legal counsel in the matter.
Source: fortune.com, “These 3 People Will Fund Your Divorce“, Daniel Bukszpan, April 23, 2016