Here’s something that should not come as news to anyone going through the process: divorce can be expensive. When a couple decides to end their marriage, it is almost always for personal reasons but these emotional issues can quickly change into fights over money. The result can be financial destruction for both parties. Everybody loses, except the attorneys. The bit of good news is that it doesn’t have to be this way. Divorce doesn’t have to destroy both parties financially; the decision rests in your hands.
If you want your divorce to stay calm (and less costly) you have to keep some of the emotion out. Years of bitterness have built up but you can’t let that distract you from the goal of reasonably dividing assets. Deal with your emotions in therapy, not in a battle of lawyers. Your divorce should be about dividing property, not righting wrongs.
Many couples fall into one of a few traps that lead to the endless cycle of fighting and pumped up divorce fees. Watch for the following issues and you can help avoid financial disaster.
• Anger – Couples that carry around bitterness or jealousy and approach divorce like a war can result in sky-high legal bills. If the couple is out to destroy one another then the result is often mutual destruction.
• Ignorance – Not understanding the process, the couple can make expensive mistakes that take time and money to undo.
• Speed – Couples that are in a dead rush can create more problems than they think they’re solving. When one party is so eager to finish the marriage they can make rash and ill-advised decisions which lead to terrible consequences down the road.
• Delegation – While you certainly need to rely on the advice of your attorney, don’t turn the whole process over and let them run the show. If you are hands off then your lawyers can get into a paper war which succeeds only in raising their fees and draining you of money.
Now that you know what leads to the problems, here are some strategies that can be employed to keep costs from ballooning out of control:
1. Try to cooperate, no matter how much you have to bite your tongue. It can be painful, but working together is the only way to ensure that you reach a deal without forking over your life’s savings.
2. However, unless you have minimal assets and no children, don’t try to do it alone. Use an attorney to help handle the complicated process; they can actually save you money in the long run given their expertise in the field.
3. Put everything in writing. Resist the urge to work things out verbally, these deals can conveniently be forgotten later.
If you find yourself facing the prospect of divorce in Charlotte, it is best to contact an experienced equitable distribution lawyer in Charlotte, North Carolina who can help guide you through the often difficult process.
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