Saving Money During a Divorce -– Easing the Financial Pain

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Going through a divorce takes time, patience, and money. In this article, we’ll discuss methods to help ease the financial burden of divorce. By using some of our recommendations, you’ll save money and ease the pressure on your pocketbook.

Save money by working out agreements in advance.

Are you and your spouse still communicating? If you can engage in productive discussions about property division, child custody arrangements, parenting time schedules, child support obligations, and even spousal maintenance, then do so. Try to arrive at as many agreements on those issues as possible. If you and your spouse are able to resolve only one issue, say parenting time, then that is one less matter for the attorneys to work through.

The settlement terms that you and your spouse agree to will be reviewed by both attorneys in the family law case. Each attorney will ensure that his or her client’s rights are fully protected, that the agreements are lawful and enforceable, and that the best interests of the children are fully addressed.

Save money by mediating all or some of your disputed issues.

You've probably heard of mediation as a form of alternative dispute resolution (ADR). Mediation is a very effective process that can really save you money. Although private mediation involves the expense of hiring a professional mediator and having your attorney present to assist you with negotiations, for most couples the mediation costs less than paying attorneys to litigate those issues at trial.

In mediation, there is no reporting what went on to the court. Instead, it is a purely confidential process. The significant benefit of mediation is that any issue can be mediated, from child custody, parenting time, and division of assets and debts, to spousal maintenance. The mediator assists the spouses in moving toward agreement on the matters presented for mediation. It is possible for every disputed issue to be fully resolved through mediation, but even partial resolution on some issues will advance the parties’ case. The fewer issues in dispute, the fewer issues to litigate, the fewer decisions the court will make for the parties.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Scott David Stewart, Stewart & Lane, PLC | Attorney Advertising

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