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Funding of Divorce Litigation

divorce11-150x150There is a new concept in the handling of divorces that is accepted in a number of states.  Funding companies offer to cover the legal costs of litigating the divorces.  They pay for the legal services of the party’s lawyer.  They also pay for finding hidden assets and maintaining an individual’s lifestyle during the course of the divorce litigation.  What do they get for this? They receive a share of whatever is awarded to the litigant by the courts. An example of a company that does this type of work is Balance Point Legal Funding, located in Beverly Hills, California.
Michelle and her husband had assets of millions of dollars.  They owned several properties.  They had investments and they owned a freight hauling business.  They had two homes, as well as a motor home, and approximately six different cars. When Michelle brought a divorce proceeding against her husband, she ran out of money to continue with the lengthy litigation. This is a technique often used by husbands to force women into entering into settlements for a pittance of what they are actually entitled to.

Instead of accepting a smaller settlement, she entered into an agreement with Balance Point Legal Funding.  For a percentage of what she received, they advanced her $200,000 to allow her to live comfortably, as well as litigate her case.

Balance Point Legal Funding is part of a trend.  They are part of an industry that currently invests in other people’s lawsuits. This helps plaintiffs in divorces, personal injury matters, medical malpractice cases and other types of litigation to move forward with lawsuits when they would otherwise not have sufficient assets on their own to bring their case to fruition. Balance Point Legal Funding currently has more than one billion dollars invested in pending lawsuits in the United States.  The focus of Balance Point Legal Fundings is on divorce cases with marital assets between two and fifteen million dollars.

High Net Worth Divorces

The Law Offices of Schlissel DeCorpo handles high net worth divorces.  We deal with issues involving family businesses.  We help doctors, lawyers and dentists in obtaining divorces from their spouses.  We negotiate separation agreements that preserve our clients’ assets.  We also assist our clients with child custody and spousel maintenance (alimony) issues.  When the situation arises, we obtain annulments for our clients.  We negotiate prenuptial agreements, as well as postnuptial agreements, for our clients.  Feel free to contact us at 1-800-344-6431; 516-561-6645 or 718-350-2802.

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