Keeping divorce costs down isn’t impossible – II

While the decision to pursue a divorce can free you from an unhappy marriage and enable you to move forward with the next chapter of your life, it should never be made without the utmost consideration. That’s because a dissolution of marriage can introduce significant change to your life and sometimes prove costly if undertaken hastily.

As discussed in our previous post, the good news is that legal experts have identified a few simple ways in which divorcing spouses can preserve much-needed funds while still achieving their desired goals. In today’s post, we will continue this discussion.

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Pick your battles

When a marriage ends on rather poor terms, it can sometimes prove very easy for a divorcing spouse to lose sight of what’s really important. For example, because their feelings were hurt, they may feel compelled to fight at every turn and drag out the proceedings whenever possible.

According to legal experts, this can prove to be costly over the long run. For example, a prolonged legal battle over something as minor as ownership of an insignificant household furnishing can result in hundreds of dollars in legal fees.

Those struggling with the divorce process are therefore encouraged to speak with a therapist or find another way to effectively manage their conflicting emotions.

Hire the right people 

When faced with a looming divorce, it is completely normal and understandable for people to experience anxiety over money matters. Specifically, many people worry about their ability to cover the fees for an attorney, accountant and/or other financial specialist.

However, legal experts advise people in these scenarios to resist the temptation to cut corners, as it can end up costing you more in the long run. In other words, don’t be pennywise and pound foolish.

“If you hire someone good who knows what they’re doing, you’ll get the work done faster and more efficiently,” said one financial expert.

Carefully consider self-representation

Sometimes people decide to represent themselves in a divorce in a bid to save money. While this is while certainly laudable, it may not necessarily be the best option if you have the means to retain an attorney.

That’s because people who elect self-representation in contested divorce matters are frequently lacking a basic working knowledge of both the law and basic courtroom procedure, meaning they may inadvertently jeopardize their case.

In contrast, experts point out that an attorney will always protect both your rights and your best interests.

Consider speaking with an experienced and skilled legal professional to learn more about whether traditional dissolution of marriage, divorce mediation or collaborative divorce is right for your situation.

This post is for informational purposes only and is not to be construed as legal advice.

Source: Fox Business, “How to make your divorce cheaper,” Andrea Murad, May 16, 2013