Tips to Help Keep Divorce Expenses Down

 Posted on July 02, 2014 in Divorce

The longer it takes to negotiate a divorce settlement, the more expensive legal fees can become. Most attorneys bill by the hour, so the more time put in going back and forth with the other party, the higher the bill becomes. However, there are actions you can take to help alleviate settlement bills and divorce expenses.

Planning and Organization

The first thing you can do involves planning for what is to come in the divorce process and to be ready for it. Organize all your documents so you and your attorney can have easy access to whatever important paperwork may be needed. One suggestion is to get a three-ring binder and tab dividers. Make a section for each of your assets - bank accounts, retirement accounts, stock accounts, real estate, personal property, vehicles, and any other items that are part of the marital estate. Have another section for your questions and concerns. Write them down so you will have them in front of you when you are speaking with your attorney. This will also help keep the legal bill down.

Set Reasonable Expectations

It also helps to take a good look at the items you want in a divorce settlement and if those items are really feasible for you. For example, if you are determined to get the marital home, make sure you can afford it the mortgage and whatever other expenses owning it will entail. And, determine if you will be able to come up with the funds necessary to buy your spouse's share of the property if you do get it.

Speak with Experienced Legal Professionals

When it comes to hiring an attorney, find one whose main practice is family law. Just as you would go see a specialist for a medical problem, you should hire a "legal specialist" to handle your divorce. You can also save money when it comes to hiring other professionals, such as forensic accountants or a property appraiser, that you may need during negotiations. Inquire whether or not they have a range of services, where an estimate can be provided, as opposed to full-evaluation, which can be costly and may not be necessary to your case.

Decide what your priorities are and rank them in order of importance. Put yourself in your spouse's shoes and do the same thing. Try to figure out what his or her list would look like and see if there are areas where compromises can be reached.

If you are considering a divorce and are concerned about divorce expenses, contact an experienced Wheaton family law attorney to discuss your options.