What Can I Do To Minimize Divorce Costs?
May 13, 2018
Going through a divorce can be one of the most challenging periods of your life. Things are likely to be difficult both emotionally and financially even if the split is amicable. Moreover, divorces can quickly turn messy and have the potential to be incredibly expensive. Unfortunately, time is often the only thing that can finally help to heal the emotional wounds, but at least you can attempt to make sure your divorce doesn’t also destroy you financially. Therefore, read on to learn everything you need to know to hopefully minimize your divorce costs.
Understanding the True Cost of Divorce
Simply saying divorce can be expensive is a bit of an understatement. The truth is that few if any, other events in your life can have as big and as instant of an impact on your finances. Depending on the terms of the divorce, you could essentially end up losing half of all of your money, property, and possessions overnight—no matter whether you were the family’s main or even sole earner.
Not only that, but you could potentially end up spending thousands in legal fees on top of that. Exactly how much you can expect to pay depends in part on where you live as both lawyer and court fees can vary quite drastically from city to city and state to state. Nonetheless, the fact that the US average for divorce costs ranges anywhere from $10,000 to $20,000 should serve as sufficient evidence of just how expensive splitting up with your partner can really be.
Litigation Always Equals Increased Costs
Not taking into account any money or property you give up as part of your divorce settlement, the single biggest part of your total divorce costs will usually go straight to your divorce lawyer. A good family lawyer is never going to be cheap, but their knowledge and experience usually make it more than worth paying for their time.
The issue is that contested divorces can be extremely complicated. This can mean lots of hours of work on the part of your lawyer to help sort out issues with splitting up your possessions, alimony payments, etc. Things become even more difficult when children are involved since you now also have to negotiate custody and child support issues.
In this sense, the single biggest thing you can to do lessen the overall costs of your divorce is to come to some sort of agreement with your spouse beforehand. If your divorce ends up having to be contested in court, both you and your partner will be on the losing end due to the increased legal fees. Therefore, it is well worth trying arbitration or some other method of reaching an agreement. Absolutely anything is better than litigation in most cases since it can be incredibly destructive and expensive.
An Expensive Lawyer Doesn’t Necessarily Mean a Good Lawyer
Your choice of Dallas family lawyer can also have a huge impact on the total costs of your divorce. In this sense, it’s not only how much the lawyer charges per hour that’s important, but also what they do with their time. One thing you never want to do is hire a lawyer and give them carte blanche to bill you for as many hours as they want. Instead, it is better to either try to negotiate a fixed rate or at least make sure your chosen lawyer regularly gives you full breakdowns on the costs you’ve incurred so far. A professional legal firm should easily be able to explain exactly how their time was spent working on your case and why each of their actions was necessary or productive in terms of helping you achieve your goals.
The fact that divorce can be so destructive to so many different aspects of your life means it is essential that you get the help you need in the form of an experienced Dallas family lawyer. Attorney Robert Thornton has years of experience helping people get through their divorce in the most effective and efficient way possible, and this makes Thornton Law a fantastic choice for anyone worried about struggling with the expenses of their pending divorce. Therefore, don’t hesitate to contact us to see how our family law specialists can help to limit the damage caused by your divorce.