Divorce and financial difficulties almost go hand-in-hand. You will not only have to deal with the reduction of your overall assets but also cover the costs associated with the divorce itself. The longer and more contentious your divorce becomes, the more you will likely spend on it.
For couples who don’t have children, the division of property and debts will usually be the primary concern in their pending divorce. The more your divorce costs, the less you will have to start your new life.
While you want a fair outcome, you don’t want to spend every penny you have to secure it. What are some ways for couples to keep the cost of their divorce low?
Stick to the terms you set in a marital agreement
Maybe you signed a prenuptial agreement before you got married, or perhaps you signed a postnuptial agreement when you started having marital issues or when one of you started a business. If you already have a document that discusses how to split up your possessions, following the directions in that document can allow for a faster and therefore cheaper divorce.
Look into collaborative law if you don’t agree on terms yet
If you did not sit down together to set terms for the dissolution of your marriage in a marital agreement, then you will either need to set those terms yourself now or deal with the expense involved in a contested divorce.
Collaborative law allows you or your attorneys to work together to set mutually agreeable terms for the divorce. Couples who can’t set terms on their own may find that mediation or arbitration can make it easier for them to reach an agreement.
You can reduce attorney costs without giving up representation
Some people will recommend forgoing an attorney, but doing so leaves you at risk, even in an uncontested divorce. It’s better to work with a competent attorney and do so wisely.
For example, instead of paying your lawyer to listen to you complain about your ex for two hours, pay a therapist to listen instead. Focus on talking about legal issues, not emotions, and you will reduce how much you spend on getting divorced.
Any steps that you and your ex can take to limit how much you litigate will reduce the amount of time your divorce takes from the courts and therefore how much it costs.