Balance Point, Actually Balancing Divorces 05/05/2011
Stacey Napp: founder of Balance Point Divorce Funding
I have seen, heard and dealt with it numerous times. Despite being financially well off as a couple, there is always one spouse who in all reality cannot fund the divorce as long, and for as much, as the other spouse. Often the spouse with the superior access to funds knows this, and uses this fact as a strategy to prolong the proceeding unless their is a settlement for usually less than the other spouse would want and need. Generally speaking, the spouse unable to truly finance the divorce through the end is the wife. In Minnesota there is a statute that can be successfully invoked to have the more financially capable spouse pay legal fees of the other spouse so they can afford the litigation, however Balance Point Divorce Funding of Beverly Hills has come up with a creative and beneficial idea for a struggling spouse. In brief, Balance Point provides funds to a spouse for attorney's fees, asset, fraud and forensic Accounting Investigations, and Lifestyle Support. As I understand it, money is loaned to the spouse for the former and latter items, sans interest, and at final asset distribution Balance Point takes a share of the spouse's assets as repayment. However, to find out specific details contact Balance Point. As an attorney I believe this is a great idea and option for many spouses, since family law attorneys, in at least in State of Minnesota, cannot have any financial stake in the outcome of a divorce action-which is why they are not structured on contingency fee basis like a personal injury claim. What is equally provocative about Balance Point the founder, is Ms. Napp's personal experience with her own divorce which spurred the idea for the company. Unfortunately, the hard reality is that quite often when it comes to divorce litigation the one with the most money "wins." However, if each can equally fund the divorce the chances of settlement and more equitable distribution of assets usually prevails.
To read a more in depth article about Balance Point Divorce Funding go to the New York Times article.
This is your new blog post. Click here and start typing, or drag in elements from the top bar.
Keeping Our Clients & Future Clients Informed