While both weddings and divorces are undeniably distinct events, they share a common thread — the potential for significant expenses. The choices made by soon-to-be exes can greatly influence the financial impact of these life-changing moments. In this blog post, we will explore common ways couples unintentionally escalate the costs of their divorce. Read on to discover valuable insights.
1. Don’t Treat Your Attorney as a Therapist
“Divorces are often emotionally challenging, leaving many individuals seeking a sympathetic ear,” says Attorney Matt Towson of Towson Law Firm. While enlisting the help of an attorney is important, it’s crucial not to rely on them for emotional support. Keep in mind that their time is billable, and using them as a confidante can result in a hefty bill. For questions related to the divorce process, consult the attorney’s support staff, reserving complex and technical queries for the attorney.
2. Avoid Resorting to Litigation for Every Dispute
Disagreements are inevitable in the course of a divorce. However, the methods used to resolve these conflicts can either minimize costs or inflate them, with court fees potentially reaching thousands of dollars. Recognize that not every dispute requires litigation; alternatives, such as mediation and arbitration, can be effective and less costly. Prioritize working with a resolution-focused attorney rather than one who is quick to pursue litigation and explore alternative conflict resolution methods to keep expenses in check.
3. Avoid Financial Disarray during your Divorce
During any divorce, obtaining a comprehensive understanding of the couple’s financial landscape is crucial. To achieve this, you’ll need to assemble a list of assets, which may encompass individually and jointly owned items, such as investments, retirement accounts, bank accounts, and real estate holdings. It is also important to gather documentation related to debts and liabilities. This includes credit card statements, mortgage or rent agreements, loan documents, and any outstanding balances or obligations. Being thorough in documenting both assets and liabilities will help ensure a fair and accurate division of property and debts during the divorce proceedings.
Poor organization when gathering and presenting these documents to your attorney can result in significant delays, potentially leading to increased legal fees and disputes over asset distribution.
4. Avoid Poor Communication With Your Ex-partner
Before seeking professional assistance for your divorce, it’s essential to sit down with your soon-to-be ex-partner and attempt to resolve issues amicably. Depending on your relationship dynamics, you might find a resolution without needing outside intervention.
Nevertheless, it’s wise to have your attorney review your documents and provide feedback on the divorce terms. During discussions with your partner, concentrate on topics such as property division, health insurance, alimony and child support, and tax implications.
Divorce doesn’t have to be a costly endeavor. The decisions you make during this emotional period can significantly influence the overall expense of your divorce proceedings.
With this in mind, prioritize resolving issues with your partner before seeking assistance, whether through a mediator or an attorney. More often than not, you can save thousands of dollars by investing time in negotiating with your partner.
By heeding the advice provided in this concise guide, you’ll increase your chances of minimizing court and legal fees. Remember, with the right approach, divorce doesn’t have to break the bank.
A Falls Church man has been arrested in connection to a sexual assault at the Quarry Inn Motel (7179 Lee Highway) in September. Erick Vladamir Chacon Martinez, 23, was taken…
Boaters and geese can be seen in the distance on Lake Accotink (staff photo by Angela Woolsey) The best path forward for saving Lake Accotink might to let it shrink,…
Tysons Galleria has lost another dining option.
Jiwa Singapura, which sought to blend Singaporean street food with a “high-end” setting, closed its doors on Monday, Dec. 4 after less than 10 months of operations.
A vehicle passes 1676 International, an office building in Tysons (staff photo by Angela Woolsey) Justice HS Student Dies From Drug Overdose — “Officials notified the community of the fatal…