A divorce can have a huge influence on the finances of those who are going through one. In addition to property division and the possibility of living on a single income, there are often legal fees to consider. Depending on how long the divorce takes, it could cost tens of thousands of dollars or more before the matter is resolved. The good news is that many couples can limit the amount it costs to settle a divorce.
An important fact to remember is that a divorce lawyer is not there to be a therapist, which means it is often best to focus on the matters at hand when talking to a lawyer. Furthermore, it is important to be as prepared as possible because this limits the amount of time it takes to verify financial information prior to a settlement.
In most cases, it is better to save money instead of fighting for small wins. Although moral victories can feel rewarding, it may have cost significant money to obtain one. If at all possible, it may be cheaper and easier for a divorcing couple to go through mediation. Mediators can act as guides in an effort to quickly resolve outstanding issues.
A family law attorney may be able to help those who are going through a contested or uncontested divorce get the settlement that they are entitled to. Issues such as child custody, property division and alimony may be settled outside of court through a negotiated agreement that is then submitted to the court for approval. However, legal counsel can advocate for a client in the courtroom if a judge is needed to resolve any outstanding issues.
Source: CNBC, “How to get divorced without breaking the bank”, Susan Caminiti, Feb. 9, 2015