financial problems

How To Effectively Minimize Your Divorce Costs


 

Divorce costs can be quite serious. Research shows that at any given time, 4% of married couples in the US are undergoing a divorce or in the process of separating. This means that at any given time, people are spending money on divorce costs or at least worrying about it. There are definitely tons of financial worries involved in a divorce. For instance, you would probably be worried about the expenses related to your attorney fees. People tend to automatically think that a good divorce attorney is bound to be expensive. While that is untrue, it is a nagging worry for those couple contemplating on getting a divorce. Just thinking about your assets and income being split will cause you a lot of financial stress. However, you can still make the most out of your resources. There are five efficient solutions to effectively minimize your divorce costs. These will help in letting your lawyer use your retainer in other more important matters.

  • Expand Your Team

Since your aim is to cut divorce costs, it doesn’t sound right to hire more people to assist you during your divorce, does it? However, you might be surprised to know that it can actually be more practical if you hire a therapist and a financial analyst to help you manage the issues you are having during your divorce. A therapist can help you gain emotional strength, helping you make good decisions throughout your divorce. If you have an emotional breakdown during your divorce, you might end up with the irreparable financial damage that you will regret for the rest of your life. At the same time, a financial analyst can help you manage your money matters so that you can be properly equipped to get what is rightfully yours out of your divorce. When your divorce team is as complete as this, you will likely get emotional stability and financial awareness to get the settlement you want. You’d be pretty much invincible and it will save you a lot of money in the future too.

  • Outsource When Needed

Going through a divorce is never easy. You have to take care of your family while dealing with all your personal pain and issues, and at the same time fighting a legal battle. You might need divorce coaches, divorce helpers, divorce consultants or divorce concierges. When you do, don’t be afraid to outsource. This move will help you deal with the things around you such as caring for your pet, gathering documents, and downsizing. When you outsource to have someone assist you, you can focus more on more important financial-related things such as maintaining your employment of finding another source of income.

  • Don’t handle the divorce alone

You might think that handling the divorce alone will be easier and is cost-effective but you can’t be more wrong than that. Pursuing a divorce without the help of an attorney does not necessarily mean that the divorce will end quickly. Doing so will open your case to the risk of making many errors. You could misinterpret or file the divorce documents wrongly. Your ex-spouse could take your ‘unarmed’ situation and use it to his or her benefit as well. In the end, you might need to hire a lawyer to fix the errors in your documents or to try to save your case. It will cost you more for sure. If you want to cut divorce costs, it is more effective to go for an affordable route: a fixed-fee legal service.

  • Be Flexible

Flexibility is one of the most important divorce element, especially when it comes to the negotiations part of your divorce. You might want to be mean and be full of spite during your divorce process to get back at your spouse but will just make your attorney’s job more difficult. It will also cost you a lot of money. And there’s always a chance that you will do things in anger that you will regret later on.

  • Ask Questions

When you seek legal counsel regarding your divorce, most attorneys will offer a free consultation. During the consultation, ask questions regarding your divorce costs. You should ask about how the retainer will be used, the best use of your attorney’s time, if there’ll be a need for a paralegal or other legal experts and other pertinent questions. During the same session, you should also find out if there are tasks that you can do by yourself, so you won’t have to use a chunk of the retainer for it.

Your divorce attorney will want to make the most of your retainer in order to help you better with your divorce. Note that your attorney will have to draw on your retainer during the divorce proceeding. He can use the retainer when filing a motion, takes calls and sends emails related to your case, and many more.

 

 

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Mr. Hutton is a Divorce and Custody Lawyer based out of Round Rock, TX. His background is with child psychology at Arizona State University where he received a B.S. in 2006, and he continued this by working with the Children’s Right’s Clinic at the University of Texas School of Law where he received his J.D. in 2009. Throughout his practice, he has been a strong proponent of utilizing modern technology to improve his practice and the representation of his clients. He currently is the technology chair of CAFA of Travis County and is committed to improving and modernizing the practice of law in Texas.