How to Keep Costs Low During Divorce
If you’re not careful, divorce can be quite expensive. In addition to legal fees, there are a number of common costs you need to consider, ranging from property division to changes in tax status to child support and alimony. There are, however, some ways you can manage the costs of your divorce. These include the following:
- Always know what you’re agreeing to. Read over all of the documents involved in your divorce — and have your attorney do so, as well — before you sign anything. Be on the lookout for hidden taxes, poor investments, assets that could depreciate, a bad budget or anything else that could turn out poorly for you. It’s important that you understand all of the financial implications of your divorce agreement.
- Keep things moving along. The longer the divorce process lasts, the more expensive it’s going to be. You can help speed up the process by being civil with your ex-spouse and being willing to compromise. If you can keep matters out of the courtroom, it will benefit you greatly.
- Be cordial. Again, the way you interact with your former spouse has a significant effect on how long your divorce process will last, which in turn impacts how expensive it will be for you. Put aside your differences at least long enough to get through the legal process efficiently, and make compromises when necessary. This will also make the divorce less stressful for you and your loved ones.
- Gather documents yourself. If you need your attorney to gather documents for you, they will bill you for it. Provide to your attorney any documents you have access to, so that they do not have to seek them out via subpoena or other means.
- Use prenuptial agreements. Of course, you cannot go back in time and create a prenuptial agreement for your marriage, but if you are getting married and have a number of expensive assets in your name, it can be worth it to establish one of these documents just in case.
To learn more about the divorce process and to receive the advice you need as you move forward, meet with a skilled Minneapolis family law attorney at Appelhof, Pfeifer & Hart, P.A.