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Law Offices Of Dwight W. Clark L.L.C.
Law Offices Of Dwight W. Clark L.L.C.

Call Today to Schedule an Appointment

Local 410-505-8680 | Toll Free 888-523-6081

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Reducing the financial cost of divorce 

On Behalf of | May 13, 2024 | Divorce |

While divorce is still often viewed in a negative light, the reality is that it can be the best option for spouses. Staying in an unhappy marriage has been shown to cause significant psychological trauma for everyone involved. 

With that being said, divorce is still a major step that requires careful consideration. One thing that divorcing couples have to think about is the financial cost. Not only does the average divorce cost several thousand dollars, but spouses have to think about how they will adapt when single again. 

The following tips could help you to keep the financial cost of your divorce to a minimum.

Know what you want beforehand 

The reality is that it is rare for anyone to walk away from a divorce with absolutely everything they want. Thus, it’s important to set priorities, goals and objectives before heading into proceedings. Think about the assets that mean a great deal to you. If you have children, think about the type of custody arrangement that you believe will benefit them most. 

Often, the amount of conflict in a divorce depends on each spouse’s mindset beforehand. If each spouse knows where they are willing to compromise, then negotiations can go much more smoothly, thus, keeping the costs down. 

Consider new approaches 

Traditionally, divorce proceedings were adversarial. Nowadays, more and more couples are realizing that it needn’t be this way. Collaborative law has become increasingly popular in recent years. The aim of using collaborative law is to encourage conversations rather than fights. 

These conversations still amount to legally binding agreements, but the means of getting there is much more peaceful. Couples who have been through a collaborative divorce typically manage to keep their expenses down in comparison to highly contested divorces. 

Seeking legal guidance will help you to uncover the right approach to your current circumstances.