Divorces don’t have to be Hollywood-worthy to get expensive. Even when two everyday people decide to part ways, doing so can end up costing thousands upon thousands of dollars. This is mainly because partners don’t know how to cut costs and end up wasting money on areas they really shouldn’t be spending that much money on.
If you’re planning on getting a divorce or are in the middle of one now, we have 8 valuable tips to help you cut costs when divorcing.
How to Cut Costs When Divorcing
Be Willing to Compromise
Being stubborn and not willing to see your partner’s perspective is going to lead to expensive litigation. If you pick your battles and not argue over every little thing, your divorce will go smoother and more quickly.
Look for Fee Waivers
If you are having trouble affording expenses related to your divorce, it’s worth looking into whether you qualify for court fee waivers. Although these waivers don’t apply to attorney fees, every little bit helps!
Work out the Details on your Own
One of the best ways to cut costs when divorcing is to try to work out the details on your own with your partner. This will simplify the process and lower your costs. The more you’re in and out of court trying to hash things out, the more expensive your divorce will be. The more time you spend in court and with your lawyer, the more your divorce will cost you.
Get Your Finances in Order
If you can get your own financial records in order, you can save your attorney the hassle and yourself some money. Divorce lawyers spend a lot of time organizing clients’ files, including their financial records. If you can be organized and get all of your banking and financial records together, you can save a lot of money. Your lawyer can be using their time to do other things to move your divorce along and save you money in the process.
Keep Retirement Funds Simple
Dividing retirement accounts during a divorce can get expensive. A cheaper alternative for both parties is to keep their own accounts. This way there are no questions as to who gets what. Everyone leaves with what they came into the relationship with.
Divide Household Items On Your Own
No matter how long you’ve been married, chances are you have a lot of household items to divide. If you can split the household stuff on your own, you can save your attorney time. Your attorney shouldn’t be in the middle of an argument about who gets a vintage lamp. You should be able to settle these things on your own.
Determine which items you really want and negotiate on the ones that you both want. Hopefully, you can come to an agreement so that both parties get something of value.
Make Your Own Copies
Although much work is done electronically, there are still items that need paper copies. This can also get expensive. If you can make your own copies, you can save a few dollars. Every little bit helps.
Don’t Treat Your Lawyer as Your Therapist
Many people think that their lawyer is their therapist and treats them accordingly. While your attorney is there to be for you, it is not their job to deal with your personal problems. This is not only time you’ll get billed for, but time your lawyer could be spending doing other tasks to help with your case.
If you need someone to talk to or need emotional support, it’s in your best interest to seek the help of a therapist. A mental health professional has the proper tools to help you through this emotional time. Having your lawyer dealing with your legal issues and a therapist on your side to help you with your emotions is the best combination.
If you’re looking to cut costs during a divorce, consider working out as many issues as you can on your own with your partner. This will reduce the time you have to spend in court and on lawyer fees.
Being willing to compromise can also save you money. When you’re not in and out of court fighting over every little thing, you will save money. Many people going through a divorce can also save money by organizing their finances and making copies of their documents.
By cutting costs during a divorce, you can save money that can be used as you begin your new life.
I am happy to talk with you about your unique situation and see if it makes sense to take some cost-cutting measures for completing your divorce. All situations are unique and one solution does not fit all. Give me a call and let’s discuss where we can help 714-841-1931.