How Do You Keep the Costs Down in a Divorce?

Keeping costs low is always important, whether you are a billionaire or a blue-collar worker. Make no mistake — divorce can be costly in North Carolina, and it makes sense to minimize the financial impact of this process whenever possible. Fortunately, there are a number of steps you can take to minimize costs and pursue a more affordable separation. While some costs are unavoidable, you might be surprised how much money you can save by exploring your legal options and choosing the right strategies. This is true whether you are the “paying” spouse or the “receiving” spouse.

If you would like to explore your options for cost-saving divorce strategies, your best bet is to get in touch with a divorce attorney in North Carolina. As you will see, one of the best ways to save costs is to choose a collaborative divorce. As such, you might want to get in touch with divorce attorneys who have specific experience with collaborative law. During a consultation, we can explain your unique situation. We will listen carefully and recommend targeted, personalized strategies based on your circumstances. While internet research is always a positive first step, you will need to book a consultation with a lawyer to receive legal advice based on your specific situation.

The easiest way to reduce the costs of a divorce is to choose a collaborative divorce. This process allows you to sidestep the trial process entirely, reducing in fewer legal expenses and a quicker overall resolution. Resolving your marriage as quickly as possible is important if you are trying to save money, as each hour will cost you when working with lawyers. A trial is also expensive because of other legal costs, such as filing expenses, and so on.

How exactly does a collaborative divorce save you money? Well, it all starts when you and your spouse agree to pursue this process. Both spouses must consent to a collaborative divorce for it to be valid. This means that you will likely need to speak with your former spouse about the possibility of a collaborative divorce and educate them on the benefits of this process. In many cases, the prospect of saving money is enough to convince spouses to at least consider the collaborative process.

Next, both spouses can discuss how they would like to handle the financial aspects of their divorces. This might include matters related to child support, alimony, and property division. Discussing these subjects before lawyers are involved is beneficial for many reasons. First of all, it gives you a sense of whether a collaborative divorce is even possible. For this process to work, both spouses must be willing to collaborate and compromise on various issues. If spouses are simply too stubborn to budge, negotiations will be pointless.

Secondly, speaking with your spouse before the actual negotiation process allows you to get a head start, which means you will not spend as much time hashing out the details in the presence of your attorneys. This means that your collaborative divorce can be resolved more quickly, and you will pay fewer attorney fees as a result.

When the negotiations have been successfully conducted, you and your former spouse will sign a separation agreement that lays out all of the details you have discussed during your negotiations. Your lawyers will draft this document to make sure it is valid before bringing it before a judge during a hearing. The judge will simply approve the agreement, and your divorce will be finalized without a trial.

Another way to save money is to organize your finances before you begin the divorce process. If your finances are disorganized, you may need to hire an accountant or a financial expert to help. It is best to make sure everything is in order beforehand, saving you time and money as you pursue your divorce.

If you have been searching the North Carolina area for a qualified collaborative law attorney, look no further than Arnold & Smith, PLLC. Over the years, we have helped numerous spouses in the Tar Heel State approach this process. We appreciate that many spouses may be considering collaborative divorce due to its cost-saving benefits, and we can help you minimize the financial impact of your separation in many ways. Book your consultation today, and we can provide you with a variety of legal options personalized to your specific needs.