Houston couples who have been through a divorce know how easily the costs can spiral out of control. In addition to what may be lost in a divorce settlement, the out-of-pocket expenses can be more than some people are able to pay. In some situations, the fear of an expensive divorce prevents people from taking such action no matter what the other circumstances may be.
There are some ways that couples can work together to manage the costs of a divorce even if it includes complex property division, alimony or child support agreements and more. One thing that divorcing spouses can do is work to maintain a more amicable negotiation process. Doing so will reduce the amount of time and input needed from attorneys, directly reducing costs. Additionally, making sure that communications to attorneys are necessary also helps minimize these fees. An attorney is a legal advisor, not a therapist and clients that cross the line will end up paying for it.
Closing any joint credit card accounts prevents one spouse from incurring a lot of debt that ultimately is shared between both spouses. Proper and full reporting about income or other assets up front can greatly reduce the amount of time and expert input that could otherwise be needed to clarify such information. All financial data is important in calculating spousal support, child support and even in identifying asset divisions.
With just a bit of consciousness and effort on both spouses’ parts, a divorce can have less impact on the bank account. This, in turn, can be easier on the emotions as well. It can be helpful to talk with your attorney in an initial consultation about ways that you can keep your costs down during a divorce.
Source: Huffington Post, “5 Ways to Cut Costs During a Divorce,” Elliot Grey, October 27, 2013