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Save Money on your Divorce with the Following Four Tips

Getting divorced can be expensive. Some couples who know their marriage cannot be repaired actually opt to simply separate, rather than complete the divorce process, because they think they cannot afford it.

Although a divorce can be expensive, it does not always have to be. There are a lot of ways you can save money on the divorce process, such as those discussed below.

Consider Collaborative Divorce or Mediation

Divorces carried out in the courtroom are more expensive than those completed through alternative dispute resolution (ADR) because they involve court fees and multiple meetings with lawyers, all of which can be quite expensive. To save money on your divorce, consider completing the process through mediation or collaborative divorce, both of which are completed outside the courtroom in low-key settings that lend themselves to cooperation.

Divide Your Finances Before You File for Divorce

One of the most time-consuming aspects of a divorce is the division of the couple’s shared assets. Although you might not be able to completely divide your assets without court intervention, you certainly can set up separate checking and savings accounts and split your current savings and money on hand with your spouse before filing for divorce. This way, you will have fewer accounts to divide during the divorce process.

Research All Your Options

You can save time, which saves money, by educating yourself about all of your options before you file for divorce. This goes beyond determining whether litigation or ADR is the most appropriate choice for your divorce – research all your options regarding your family home, dividing your debts, and your options regarding child custody and spousal support. By going into the divorce process with a few ideas already in mind, you can complete it much more quickly. Your lawyer can help you work through all the options available to you to find one that will not only work to save you money, but will work to satisfy your personal needs.

Make a Budget for Yourself

After you have divided your financial accounts, make a budget for yourself and stick to it. A divorce will bring many new costs, such as the cost of a new apartment or house for yourself, an increased need for childcare as you attend court and lawyer meetings, and other costs you might not have anticipated, like the cost of a guardian ad litem or the financial setback of having to miss work to attend hearings. It can be easy to live on credit cards while your divorce is pending – do not be tempted into doing this. You can easily go into debt if you do not keep track of your spending.

Work with an Experienced La Crosse Divorce Lawyer

Divorce is rarely easy. Depending on the choices you make and the circumstances you can face, it can also be very expensive. Before you file for divorce, speak with an experienced divorce lawyer about ways you can cut down the costs of your divorce. Contact our team at Moen Sheehan Meyer, Ltd. today to set up your initial consultation.

Published September 16, 2016
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