7 Ways To Save Money In A Divorce (End Your Marriage With More Money In Your Pockets)

A divorce is not only stressful and time-consuming, but also costly. It is true that a divorce can exhaust your bank account more than a posh wedding, which is why it is vital to understand ways to reducing the cost of your divorce proceedings (yes, a low-cost divorce is possible even if you hired a Salt Lake City divorce attorney).

There is a common misconception that everyone who is going through a divorce ends up being poor and miserable. But it does not have to be this way, as there are practical tricks to reduce expenses in your divorce so that you can walk away from your marriage with more money in your bank account (and happier, as a result).

Be honest with your attorney. Many divorcing couples tend to conceal certain things about their marriage from their attorneys, but this always proves to be a costly mistake. Being honest with your divorce attorney in Salt Lake City or elsewhere in Utah is vital, as your attorney needs to be on the same page as you. It is critical in order to be prepared for all potential issues in your divorce and to work out a cost-effective and successful plan to divorce fast, in your best interests, and at a low cost.

Switch off your emotions. It is understandable that emotions often get in a way when going through a divorce. And no one can blame you. After all, you have been with this person for years or even decades, you loved him/her and could not imaging your life with your spouse, and the whole process evokes a wide range of emotions, from sadness and depression to regret and anger. But you have to learn to control your emotions during a divorce, as this will help you think straight, remain clear-headed throughout the divorce, and save cost. In other words, you would not want to spend a phone call with your attorney complaining and crying about your divorce while you should be discussing what to do next to finalize your divorce and put it behind you, would you?

Consider counseling or therapy. If you seem to be too overwhelmed with your emotions, consider hiring a counselor or therapist. Even though they do cost money, being able to keep your head clear and taking emotions out of the process are vital for the success of your case.

Hire the appropriate experts. In addition to hiring a divorce lawyer and counselor or therapist (if necessary), you may want to hire other experts such as accountants, financial planners, and appraisers. These professionals can help you deal with the financial aspect of your divorce more effectively by estimating the value of your property and businesses, identifying assets in your divorce, determining the value of investments and retirement accounts, and other.

Gather information. In addition to being upfront with your Salt Lake City divorce lawyer, it is vital to help him or her collect information about your divorce that would be gathered through discovery anyway. This process will include filling out your financial disclosure statement, collecting documents such as bank and mortgage statements (if any), past tax returns, credit card balances, and others.

Cooperate with your spouse. As counterproductive as it may sound, cooperating with your spouse to finalize your marriage is vital. You and your spouse have to understand that drawn-out negotiations, arguments, heated legal battles, litigation, appeals, and other legal headaches cost tons of money. That is why resolving divorce issues out of court is critical to reduce the cost of your divorce. However, to ensure that these out-of-court negotiations are in line with your best interests, let your divorce attorney handle these negotiations on your behalf and advise you on the potential outcome of each decision.

Consider an alternative dispute resolution. Here at the Ault Legal, our best divorce attorneys in Utah are certain that reaching an agreement is much more cost-effective than litigation. Besides, you can accomplish much more through out-of-court negotiations as you and your spouse get to control the whole process (as opposed to litigation, where the judge will be the one in charge). Our Salt Lake City divorce attorney explains that you should not ignore the importance of participating in a settlement conference or engaging a mediator with your spouse. Although many divorcing couples reach an agreement through these alternative dispute resolution methods, even if you do not come to an agreement, mediation can help you narrow down the number of unresolved issues for trial, which will, in turn, reduce the cost of litigation.

As you can see, there are quite a few ways to reduce the cost of your divorce. Contact the Ault Legal to speak about your particular case and come up with a personalized plan for you. Call our offices at 801-539-9000or complete this contact form today.