Divorce is rarely an easy decision. Spouses may have been together for a number of years, and they might have children together. Divorce can also significantly change the financial standing of each spouse.
Nonetheless, divorce is often for the best and there are ways to keep the financial cost down. Here are a few things to consider.
Keeping communication lines open
At every stage of divorce, it’s important that both spouses keep communicating. It’s important to hold the initial divorce conversation in an appropriate setting. If one spouse is caught off guard, or blamed for everything, they can shut themselves off. This means that they may not answer initial divorce letters. They may go on to refuse to communicate during legal proceedings. All of this increases time and money spent.
Being prepared
As mentioned, more time equals more money when it comes to divorce. The sooner your divorce is settled, the less expensive it will be. That’s why it’s so important to be prepared. Think about your key goals and objectives. For example, if you have children, what kind of custody arrangement do you want? Do you want to stay in the family home? Do you want to remain a part of the family business or would you settle for a buyout? Knowing these key objectives beforehand can put you in a much more efficient negotiating position.
Consider unorthodox approaches
Divorce has traditionally been viewed as a legal battle. Legal battles are costly. Thankfully, there are several other options available. Alternative dispute resolution methods like mediation have become much more popular. These approaches are less combative and they tend to be cheaper.
Before initiating your divorce, it will be highly beneficial to seek legal guidance.