Divorce is stressful on both emotional and financial levels. The divorce process alone can cost thousands of dollars, after which you may owe child support and spousal maintenance on an ongoing basis.
Fortunately, there are ways to reduce the cost of the divorce itself. As per Forbes Magazine, avoiding a trial and managing time appropriately with your attorney can save a lot of money.
How does avoiding a trial save money?
Going to trial means you will need to spend more time with your attorney, which automatically makes the divorce more expensive. Your attorney will need to review all your documents – and your spouse’s information – to make the materials properly presentable as evidence. In addition to needing extra prep dates with your attorney, you will also likely need to take time off of work and other responsibilities to attend court dates. This can result in lost income or paid time off.
How does time management help save money?
Lawyers spend hundreds of billable hours per year going through their clients’ financial records. Divorce requires a lot of financial reckoning, and you can potentially save thousands of dollars by having your assets in order prior to going to a lawyer. Using electronic documents also saves money, as it costs more for a lawyer to process paperwork.
Additionally, try to limit your communications with your attorney to email if at all possible. Of course, in some situations a phone call is best, but in most circumstances it takes your attorney less time to answer an email as opposed to taking a phone call. It is not a good idea to get into long, drawn-out conversations with your attorney on the phone if you would like to save money.