Divorces are usually very painful ordeals. In addition to the bitterness associated with them, many people also lose a substantial amount of money. Fortunately, there are a number of ways that you can significantly cut your losses while going through a divorce.
Saving Money Going through a Divorce
Neither you nor your spouse wants to wipe out your estate during the divorce proceedings. Here are a few ways that you can cut your losses.
Don’t Let Your Resentments Hurt Your Case
During a contentious divorce, many people are more concerned about sticking it to their ex-spouse than acting in their own best interests. Some divorce attorneys have reported that their clients will often file frivolous motions purely to drive up the other party’s legal costs. This is particularly common if there was infidelity involved.
Obviously, nobody benefits from such obtuse decisions. You should focus on making the process go as quickly as possible, which will reduce your legal fees.
Try to Amend Your Relationship
You are going through a divorce because you and your soon-to-be ex-spouse have decided to end your relationship. Neither of you are probably interested in changing that, but you can still take steps to amend your relationship, at least to the point where you can both be cordial with each other. If you make some reparations, then they will be less likely to try to take everything from you out of sheer spite. You will also be able to streamline the process more easily, which will reduce your legal costs.
Choose Your Lawyer Wisely
Family law attorneys have a bad rep, but the truth is that many are genuinely interested in doing what is right for their clients. You will want to find a lawyer that will fight for what you need rather than an unscrupulous one that is going to senselessly drive up your costs.
Review Everything that Your Spouse Reports
Regardless of whether you will be the one paying or receiving alimony, you should carefully review all of your spouse’s financial records. You will need to make sure that they are accurate to ensure that you aren’t shafted during the divorce. This can be especially tricky if you filed joint tax returns, shared a bank account or your ex-spouse worked for tips or had an irregular income (such as from dividends or self-employment). It may be necessary for you and your lawyer to hire an accountant to review everything carefully.