Tuesday, January 22, 2013

Why it is often worth it to settle

While I understand the desire to either have your day in court or stick it to that cheater, etc it often is not in your best interest. Time and time again we see people pay more in attorney's fees than the asset that they are fighting over. This is all well and good if the object is sentimental, however more often than not it is money that we are talking about.

Sometimes to argue over the value of an asset people will hire specialists to come in an appraise the item (house, jewelry, etc). While sometime this is 100% necessary, it is always important to sit down and evaluate whether it is in your best interest to argue over the difference.

Although we try to educate our clients as much as possible, I often see the other side happily collecting $2000 in attorney's fees to argue over $900. Sometimes it is in your best interest to keep the money in the family and split the asset, or agree on a middle number, etc.

This sometimes is true when it comes to child support and spousal support numbers. Although very formulaic in most cases, when you have to prove how much money someone makes the fees you pay an attorney to dig through discovery documents of taxes, bank account statements, credit card statements, etc. can add up very fast.

Always talk to your attorney about the cost-benefit analysis.

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