How to Save Money on Your Divorce
Divorce can be an expensive process, but you can keep costs to a minimum by using a practical approach. A contested and litigious divorce is likely to be far more costly than an amicable one. Save money on your divorce by keeping cool and staying organized.
Here are some additional tips to keep costs down along the way:
- Come to your meetings prepared — A great way to save money is to make efficient use of your time with your attorney. When setting up an initial meeting, ask what you should bring and prepare ahead of time. You might need a spreadsheet of your household expenses, a list of your assets and debts and your premarital agreement if you have one.
- Pick your battles — The divorce is likely to go more smoothly (and therefore be cheaper) if you don’t dig your heels in at every turn. Don’t fight over the kids, the dog, the family home or the business. Do fight for adequate child support, an equitable division of assets and spousal support if it is relevant.
- Disclose all of your assets and debts — Withholding relevant information is a sure way to drive up the price of your divorce. Don’t start giving your valuables away to your family members in hopes of avoiding sharing them with your ex. The more you are truthful and open about your financial situation, the more quickly you will reach your agreement.
- Have an agent value your home — Selling the family home can be an emotionally challenging event in your divorce, but it may be inevitable. Before you enter into negotiations, have a real estate agent give you an appraised value for your home. If you want to keep it and you have a good idea of its worth you may be able to make a trade for another asset of equal value.
- Reach an agreement through mediation — If you and your spouse can communicate with relative ease, consider using mediation as a means of reaching an agreement. Some Florida divorce attorneys are trained in and practice mediation, and can act as an effective facilitator for your divorce agreement. Hiring one attorney instead of two can save you a substantial amount of money.