Can Asset Division in High Net Worth Cases Be Resolved Through Private Arbitration Instead of Court?

When you realize your marriage has reached its end, you may have to make certain considerations depending on your net worth. The higher the value of your assets, the harder it can be to move through the process and reach a settlement. You may want to consider alternative options to litigation, such as mediation or even arbitration. Working through private arbitration may be far more beneficial to your position than moving forward with litigation.

Asset division in high net worth cases can certainly be resolved through private arbitration instead of through the courts. When you get divorced, you should move forward with the option that makes the most sense to you. At C. E. Schmidt & Associates PLLC, we can help you determine the right course of action and ensure you are not taken advantage of. Moving forward with private arbitration may be the right thing for you, especially if you want everything to remain private.

What Is Private Arbitration?

Private arbitration is a process used to reach a divorce settlement that can be used as an alternative to litigation. In this process, a neutral third party, called an arbitrator, assists both parties in resolving their disputes. Each party, with or without the help of a lawyer, explains their issue and argues for their side of things. The arbitrator considers both sides and makes a decision based on the evidence and arguments.

The arbitrator’s decision can often be legally binding, meaning that both parties agree to abide by that decision as final. It can also be non-binding, meaning that if you or your spouse disagrees with the arbitrator, you can still pursue legal action.

What Are the Benefits of Arbitration?

Arbitration has many different benefits over litigation. Arbitration can often be quicker, less expensive, and more private. It can be particularly valuable in high-asset divorces where both parties value confidentiality and efficiency above all else. Some of the benefits of arbitration over alternative options include:

• Confidentiality: While litigation is often a public spectacle, arbitration is private. In many high net worth cases, clients may appreciate discretion and not wish to have their personal grievances open to the general public.

• Cost: In a high net worth case, litigation can get quite expensive. You have to consider court costs, lawyer fees, loss of assets, and potential alimony or child support. Arbitration can be considerably less expensive than litigation. There are no court costs, and arbitrator fees are often much less.

• Speed: When you pursue arbitration, it can end up being much quicker than litigation. Divorces decided through the courts are often drawn out, complicated, and personal. Arbitration can be much faster.

Contact a Divorce Lawyer Today

Moving forward with a high net worth divorce can be costly and exhausting. The legal team at C. E. Schmidt & Associates PLLC understands what you need. Through our combined 100 years of legal experience, we have helped countless clients who have been in your position. Reach out at 346-517-6906 to discuss your case, or contact us online to speak to a valued team member.