3 ways to keep your costs lower when divorcing
Divorce is a notoriously pricey process — but it does not have to be. While some costs are unavoidable, there are ways to cut down on expenses and reduce the financial burden of dissolving your marriage.
In this blog post, we will discuss three proven strategies for minimizing legal expenses when going through a divorce, so you can get what you need and spend less along the way. If you have questions about these options, contact Coover Law Firm, LLC to speak with a Maryland divorce attorney.
1. Consider mediation or collaborative divorce
Not all divorces need to involve heated, drawn-out Court battles. If you and your spouse are willing to work together to reach a mutually beneficial agreement, you can achieve a low-cost divorce by using alternative dispute resolution methods like mediation or collaborative divorce.
In mediation, a neutral third-party mediator assists you and your spouse in negotiating the terms of your divorce. The mediator cannot make decisions for you, but they can guide the conversation and facilitate a productive dialogue.
Collaborative divorce is similar to mediation in that it involves out-of-court negotiations, but both parties are usually represented by their own attorneys who are trained in collaborative law. The attorneys provide legal advice to their respective clients, ensure that their client’s interests are protected, and work to negotiate a fair settlement with the other party’s attorney.
While alternative dispute resolution methods still cost some money, the level of involvement from these professionals is typically much lower than that required by a traditional Court proceeding, keeping costs down.
2. Be prepared and organized
Most divorce attorneys bill by the hour, so every minute your attorney spends on back-and-forth communication or rummaging through paperwork adds to your bill. By staying organized and prepared for meetings with your attorney, you can make the most of their time and lower your legal fees.
Before meeting with your attorney, create folders dedicated to each element of the divorce process for relevant documents. For example, you may want a folder for financial documents, child-related matters, and general documents like your marriage certificate.
Be sure to bring a copy of these documents to each meeting with your attorney in case they need to reference them. This will help you make the most of the time you are already paying for and reduce the time your attorney will spend coordinating the receipt of materials outside of scheduled meetings.
You can also save time by coming to meetings with your attorney prepared. Write down questions you have ahead of time and take note of your desired outcomes for the divorce. This can keep your meetings focused and efficient, increasing the chances of a successful resolution and a low-cost divorce.
3. Take your time when making decisions
During a divorce when so much of your life is in flux, it is easy to become overwhelmed and make decisions without fully understanding their implications. However, some of the most costly decisions are those that are made in haste. Before you take an action that cannot be reversed, take a step back and consider what is at stake.
Remember, you are allowed to take the time you need to make informed decisions. If anyone tries to pressure you into immediately signing legal documents or making decisions that you do not feel confident about, hold your ground and let them know you need time to think before proceeding.
Professional guidance can also be immensely helpful in preventing costly mistakes. A qualified financial professional, like a financial advisor, can help you make sound decisions about asset management during the divorce process. While professionals come with a fee, their services could end up paying for themselves in the long run.
A low-cost divorce is within your reach
Divorce is rarely cheap, but ending your marriage does not have to break the bank. A few simple adjustments to how you approach the divorce process can add up to major savings.
At Coover Law Firm, LLC, we are committed to helping our clients achieve the best possible divorce outcome at a cost that works for them. With over 30 years of experience representing Maryland families, our Howard County divorce lawyer knows how to get favorable results without racking up unnecessary costs. Contact us at (410) 553-5042 to learn more and schedule a consultation today.