Divorce: Yes, it's Expensive
Divorce - especially if kids are involved -
is among the most emotionally trying experiences a person can endure. More than
just your feelings are at stake, however. Dissolving a marriage can also be a
financial wrecking ball. If you're already behind with lenders, a divorce can
out of debt even more difficult. Follow this guide to making divorce as
financially bearable as possible.
Divorce is rarely easy and often expensive.
Don't Represent Yourself
According to expert advice, people who represent themselves bring their emotions with them to the bargaining table. A professional brings judgement that isn't clouded by the emotional toll a divorce inevitably takes on the participants and will make clearer, less-biased decisions.
Experts advise that court should be a last resort. Litigating in court is time consuming and expensive. Consider instead arbitration or mediation. In mediation, a neutral third party, or mediator, acts as a middleman and negotiates reasonable terms. In arbitration, a third party is hired to make decisions for the couple, the same way a judge would. Mediation and arbitration are often quicker and cheaper than court.
Hire an Accountant
Instead of a lawyer, hire an accountant. An accountant can breeze through your tax returns much more quickly than a lawyer; also, they are generally less expensive and bill for fewer hours. They have a better understanding of financial matters and are generally better at understanding money issues such as securities and assets.
It's easy for divorcing couples to get caught up in "that's mine, this is yours." Thousands can be wasted arguing over modest assets such as furniture, a television, etc. Not only will you save the larger expense and headache, but not squabbling over small-ticket items can put you in a position of greater leverage when it comes to the really important matters.
Respond to emails, phone calls and letters right away. Always fill out any requested documentation before any deadlines arrive. Try to keep records with extreme accuracy. Documentation is the best way to back up your word if you ever do go to court.
Divorce is emotionally trying, but it's in your best interest to remain civil.
Divorce is almost always going to be emotionally trying, exhausting and upsetting, but it can also be extremely expensive. Many people who live comfortably get divorced and never financially recover. Consult professionals before you agree to anything, consider an accountant instead of a lawyer and do your best to avoid court. Most importantly - especially if children are in the picture - be as agreeable and reasonable as possible. Try to get it over with. As soon as you do, your new life can begin.
Andrew Lisa is a freelance writer living in Los Angeles. He writes about legal and family issues.
Posted by Cheaper Accountant. Posted In : Information