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7 Ways to Reduce the Cost of a Divorce

Ways to Reduce the Cost of a Divorce

The divorce rate is rising these days and shows no signs of going down. There are a lot of reasons for the increase in the divorce rate – loss of ideals, increase in independence, increased money to spend and so on. A divorce can be painful emotionally and can also prove to be a drain in your resources. A large part, almost 95% of the money you spend on the divorce would be the attorney fee. Instead of losing an obscene amount of money paying your attorney, you could follow a few things and do a bit of research and reduce the cost incurred in your divorce proceedings. Here are a few ways to reduce the cost of a divorce.

1. Choose an attorney who is from your area

It is important that you choose an attorney from your area or someone who lives close. This is because they charge you by the hour and the time taken by them to drive to your place will also be counted as work. The closer the attorney is to you, the more money you can save.

2. Decide on the sharing of assets before you hire an attorney

If you cannot decide on the assets, it would prove to be a big problem as it could go on and on and the more time you spend wrangling the more you would be spending on your attorneys and the court.

3. Depending on where you live, find out if you can divorce yourself without going through an attorney

Some states have the provision where in which you can apply for a divorce and get it without having to go through an attorney. If this is possible, you should file for a divorce yourself.

4. Find out if you can do the paralegal and administrative work yourself

This can also save you a lot of money and will also keep you informed of how the case is being conducted and how it is progressing.

5. Know how much assets you both own

Not knowing how much your assets are worth and how much your partner is worth can also end up costing you a lot of money. Keep a record of all your transactions and if you cannot find any one of them, make arrangements to get a copy.

6. Sign a prenup

Even though it is the most unromantic thing to do, you should sign a prenup that clearly states what each one of you would get in case of a divorce. It is just a precautionary measure and something that every couple must do irrespective of their asset worth.

7. Do not ask for more than your share of the asset

If there has been an agreement that you get a specific amount or a house, consult with your attorney if you have not been cheated. In case everything is fine and yet you want more, keep in mind that this could prolong the process and also cost you a lot. Also make sure you have good legal standing in asking for more.
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