How can I afford my divorce?

| Apr 6, 2020 | Divorce

While divorce definitely takes up a lot of emotional bandwidth, it also has a way of taking up a lot of dollars, as well. While the ultimate cost of divorce will depend on multiple factors, it is possible for divorce to cost into several thousands of dollars, depending on the assets involved and also the demeanor of the people. If you want to get through the divorce process with as little emotional and financial stress as possible, it is important to keep certain things in mind. According to Forbes Magazine, if you can keep your cool during the divorce process, it will likely end up being far less expensive.

Essentially, there is more than one way to get a divorce, and a trial divorce is by far the most expensive. If you are looking to go for maximum savings and are on reasonably-amicable terms with your soon-to-be ex-spouse, then you may want to ask your attorney about submitting the case to mediation. A mediated divorce can involve your lawyer (or not), as well as a neutral third party that is helping the divorcing couple divide up the assets and come to resolutions together.  Mediation is often a good way to resolve the issues in your case, but your lawyer will likely first need to gather information and conduct some aspects of litigation, in order for the mediation to be successful.

Another good tip is to come into the divorce process with all of your financials sorted out prior. Much of what a divorce lawyer does is try to sort through the couple’s financial history, and this can end up costing a lot of money. If your assets are documented and organized, your divorce maybe less expensive.

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