4 Ways to Reduce the Cost of Your Divorce
It is a common scenario. You have agonized over the decision to leave your marriage. You may have spent years in counseling. You may have been mulling over the decision for a long time, knowing it was right but being concerned to pull the trigger.
You feel ready to divorce, but there is only one problem: how will you and your spouse afford divorce litigation? You have heard horror stories about how much it will cost. You feel trapped, and you feel as if you cannot take the steps you need because you cannot afford to end the marriage.
Is there a way to legally extricate yourself from the marriage without going into debt or depleting all of your savings?
While it is true that divorce can be costly, it does not have to cost you your entire financial future. Yes, a good divorce attorney, who specializes in the area, can be expensive. But there are still ways to reduce the cost of your divorce.
How to Reduce the Cost of Your Divorce
Consider Mediation:
Mediation is often a much less expensive option than going to court. Mediation allows you and your spouse to work with a neutral third party to discuss and reach agreements on issues such as child support, alimony, division of assets, and more.
Reduce Legal Fees:
You can reduce legal fees by preparing for your divorce yourself, such as gathering the necessary documents and information and researching the laws in your state. Additionally, you can ask your attorney to provide unbundled services, meaning you only pay for specific services rather than the entire divorce process.
Keep it Out of Court:
Litigation is often the most expensive option, so you should try to avoid going to court. If possible, reach agreements through negotiation or mediation.
Avoid Emotional Spending:
Divorce can be an emotionally draining process, and it’s easy to make impulse purchases as a form of coping. However, it’s important to avoid emotional spending and stick to a budget so you don’t end up spending more than you can afford.
Be honest with yourself as to the reasons you will explore each costly avenue of the divorce process. Each choice you make will mean an increased cost.
Are you seeking a custody expert because you truly believe you must protect the best interests of your child? If so, then the financial investment is worth it. However, ask yourself if you are motivated by a desire to exercise control, punish your soon-to-be ex, or for revenge. Take a step back and truly explore why you will take certain actions in order to reduce the cost of divorce.
