How to Have a Cheaper Divorce

We all know that divorce can be costly. Putting aside the direct legal fees, you also need to consider the impact of losing roughly half of your assets, paying alimony, providing child support, and much more. Faced with these consequences, it is no wonder that many high-net-worth spouses approach divorce with a sense of dread. But it is important to realize that divorce does not have to be financially ruinous. With the right approach and the right legal assistance, you can maintain financial security.

One the best ways to do this is by keeping legal costs as low as possible. Collaborative divorce is a solid choice in this regard, as it helps you limit the overall cost of a divorce in a number of different ways. In certain circumstances, this method may also help you reduce other financial issues related to divorce, especially when it comes to property division. If you are interested in exploring collaborative divorce further, your best bet is to get in touch with an experienced divorce attorney in North Carolina. Choose a lawyer who has plenty of experience with collaborative law, and you can learn all about this legal strategy during your first consultation. If you would like to move forward, your collaborative law attorney can guide you toward the best possible outcome.

Why Are Litigated Divorces More Expensive?

Litigated divorces are generally more expensive when compared to collaborative divorces. But why is this? Well, as soon as you begin a divorce trial, you open yourself up to all kinds of legal fees. The longer the trial continues, the more of these fees you can expect. Since divorce trials have the potential to last for months or even years, these costs can quickly add up. Aside from attorney fees, you can expect various other costs associated with going to trial. These include things like filing fees, fees for appeals, fees for hearings, and so on.

On the other hand, collaborative divorces allow you to sidestep this expensive trial process altogether. Instead of getting bogged down in a trial that seems to go on forever, you can resolve your divorce in a matter of days or even weeks. Not only does this allow you to avoid various court fees, but it also keeps attorney fees at an absolute minimum. Remember, the quicker you can resolve your divorce, the less you will need to pay your lawyer. There is no reason you cannot wrap up your divorce in a few weeks – especially if you approach the collaborative divorce process in a dedicated, focused manner.

Protect Your Assets Through Negotiation

Collaborative divorce also allows you to negotiate with your spouse when dividing assets. This means that you can protect your assets in a number of different ways instead of simply waiting for a judge to tell you how your property will be split up. For example, you could choose to trade your assets instead of liquidating them and splitting the proceeds. This freedom could be immensely beneficial in a number of different ways.

For example, you might run the risk of losing a 50% share in your business. With a collaborative divorce, however, you could agree to provide your spouse with the sole ownership of the family home in exchange for keeping 100% of your business. Or perhaps you need to keep possession of the family car for work. In this situation, you might agree to hand over an asset of equal value, such as a boat.

At the end of the day, there are simply more possibilities when you divide property during a collaborative divorce. Both spouses can pursue their own financial goals in a more streamlined manner. Although some compromise is necessary, both parties can walk away with what they need to be financially secure in the future. This is why a collaborative divorce is often one of the best ways to have a cheaper overall divorce.

Enlist the Help of a Qualified Attorney Today

If you have been searching for a qualified, experienced collaborative law attorney in North Carolina, look no further than Arnold & Smith, PLLC. Over the years, we have assisted a great many spouses in the Tar Heel State, and we have the experience necessary to keep your costs low. We also have considerable experience with collaborative divorce, and we know how beneficial this approach can be for spouses who are concerned about losing their assets. Book your consultation today, and we can explain more about how our approach can help you ensure financial security after your divorce.