Divorce can be a stressful and expensive process. But if you let the emotional burden prevent you from staying on top of the practical aspects of your case, it could end up costing you financially. Here are three tips to help keep you focused during a divorce—which will also save you money.
Do your homework.
Spend time preparing in advance of your meeting with your lawyer. Remember that lawyers charge for any time they spend working on your case. If you keep yourself organized, you can get much of the leg work out of the way for your lawyer. Following these strategies can save significant time for your lawyer, which translates into savings in legal fees for you:
- Get clear on what your goals are in the divorce. Spend some time thinking through what you hope to gain in the settlement, and what outcome you think is realistic. It could be helpful to map out your bare minimum aspirations as well as your full wish list.
- Do the math. Calculating and valuing every asset and expense in your life can be an extremely time-consuming task. If you do the work yourself, your lawyer won’t have to. Before meeting with your lawyer, consider drawing up the following documentation:
- Statement of net worth
- Monthly budget
- List of all marital assets
Keep it professional.
Many people going through a divorce feel the desire to complain about their spouse to their lawyer. While your attorney may lend a supportive ear, and this outlet may be therapeutic, unloading your emotional baggage on your lawyer probably has little pertinence to your case. In addition, time spent talking about your personal issues leads to higher legal fees.
Mediation can be an excellent way to save money in a divorce. It can save you from high legal fees and prevents you from having to go in front of a judge to get a divorce settlement. Mediation is usually a faster and less risky process than divorce litigation.