You won’t be fully aware of the costs associated with a divorce until you’ve actually gone through the process. Although the culmination of a bad marriage may put you on the road to a brighter future, the money spent going through the process can be crippling. The following are five ways to reduce your costs and settle your agreement quickly.
Reduce Your Conflict
Some marriages simmer and boil until they suddenly erupt. Other couples find that they’ve quickly decided to uproot from their homes one day without a backward glance. But if you harbor ill feelings toward your soon-to-be ex-spouse, you may not be able to see clearly. This could even cause you more animosity and anger than what you were dealing with during your relationship. Each party will have an attorney and as a go-between, their communication will cost you money. It could also put you in debt. Although you may want to make your ex-partner suffer for their indiscretions or abuse, reducing your conflict will help come up with a quick resolution. Unless there’s a solid reason, you may want to agree to a joint custody arrangement if you have children. Other ways to reduce conflict are to settle personal assets, money and investments fairly.
Hire an Attorney That Meets Your Needs
Once you’ve set your mind on divorce, you’ll want to start the attorney interview process. Important factors to consider include their skill and experience. If you have numerous assets, property and income at stake, a high net worth attorney will protect your rights and aggressively fight for your fair share of the pie. The divorce process will leave you vulnerable, so you need to ensure that you feel comfortable working with your attorney and divulging specific details related to your marriage. To determine the level of skill and aggressiveness, ask your friends, co-workers and family members for attorney recommendations. Finding someone who has your best interest at hand can save you time and money from switching to someone else at a later date.
Set Future Goals Ahead of Time
If you have specific goals related to your divorce case, talk to your attorney beforehand. Although your divorce attorney will try to help you obtain a fair settlement, it’s a good idea to map out your future acceptance plan. This includes putting a priority on your children and custody issues, assets, property and retirement packages. You may not be able to get everything you want, but setting goals can move the process along more smoothly.
Do Your Homework
If you’ve been thinking about divorce for quite some time, you may have done your homework. Once you’ve hired an attorney and consulted with them, you’re going to need to gather important documents that can benefit you in your case. This includes pay stubs, W-2s, debts, assets, financial statements, retirement figures, tax returns, marriage certificate and more. The sooner that you can put together the documents that your attorney needs, the faster you can find a divorce resolution.
Be Flexible with your Outcome
Whether your divorce was caused by an infidelity or because you and your spouse lacked communication, the length of the process is up to both parties. Although you may want money, full custody and other assets, being flexible with your outcome can speed up the process. Adjusting the expectations from your divorce can help save you money in the end. It can also put you on the path to a better future faster when you both agree with the final outcome.
No matter what the economy or time of year, divorce can be a costly undertaking. The going back and forth can also be costly and cause your retirement, savings and checking accounts to take a major financial hit. But with the above tips, you can find a more peaceful resolution and limit your costs.