Preparing For A Divorce Financially

By Michael Schomp


Nobody ever wants to end up in a divorce. It's not the plan you have when you get married, and sometimes you can be caught so off guard that you don't act rationally after finding out that your significant other wants a divorce. This can lead to additional fighting in the short term and it can also lead to a lot of wasted money as you navigate the divorce process. It can be difficult to plan for the future while going through a divorce, but according to US News, there are things that you can do to save money and put your best foot forward as you move on financially from your marriage.

Find the Right Family Attorney

Your first step should be to look for and locate a divorce lawyer or family attorney who can meet your specific needs. Prices for divorce lawyers vary wildly, so you'll want to make sure you find an affordable lawyer who doesn't compromise on quality. This can be difficult and take some time, but it's worth it in the long run when it comes to setting yourself up for divorce success.

Reduce Discovery Phase

Instead of paying fees to have your lawyer round up legal documents, simply ask them for a list of the documents you'll need and take care of this part yourself. It's not necessary to pay additional attorneys fees for work that you can do on your own time. You can save a significant amount of money in your divorce if you gather the documents yourself.

It's important to establish expectations when looking for a divorce attorney and for you to work closely alongside your counsel to formulate a strategy that works in your best interests.

Document Your Financial Standing

A major component of the divorce consists of splitting up the assets in a way that's fair for all parties involved. For the best results, it's crucial that you keep accurate financial records detailing your income, your assets and your past tax liabilities. This helps the court accurately determine which spouse is entitled to what. The process can be heated, but it's necessary to get a equitable outcome.




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