How to Save Money in a Divorce

money%20chained.jpgIf you are about to get a divorce or care about someone who is, there are some ways to make it less expensive that should be greatly appreciated in these trying economic times. Here are some tips on how to save money in a divorce:

Try to work out as much as possible in advance. The more you can agree on prior to involving attorneys, the cheaper it will be for both of you. Try to work out the division of assets and child custody issues so you only need to use your divorce lawyers for the legal stuff. Using your attorneys to argue with each other over who gets what piece of furniture and how you’ll handle holidays is a sure way to run up your legal bills in a hurry.

Get smart on your assets and liabilities. Engage a financial planner to help you make smart economic decisions for your future. Know exactly what and where your assets are, as well as the liabilities that each of you will be responsible for. Use the planner to help you figure out a fair approach to retirement account splits, alimony, etc.

Remember the “law” in “lawyer”. Feeling really upset and want to have a long talk with someone about divorce emotions? Talk to your therapist. Have a financial question? Talk to your planner. Use the lawyers for your legal needs and you’ll save yourself money.

Also, if you are contacting your attorney to find out minor details, like if paperwork has been received or filed, ask your lawyer’s assistant instead of asking to speak with your attorney. Those minutes add up to billable hours. You can also save by making copies of all your paperwork yourself instead of handing it all over to your attorney for copying.