With all the other stress you’re under during a divorce, your finances can quickly become the biggest stressor in your life once you realize how costly divorce can be. Experts say that the average divorce in 2019 costs each spouse about $15,000. That’s a lot to handle on top of all your other expenses.
The good news is that you and your spouse can control your own costs by being proactive and committing to working together to end your marriage as peacefully as possible. Here are some tips:
Have a frank discussion with your spouse
Your marriage is already over, so there’s no sense fighting over the past. Now, it’s time for you both to focus on the future. Agree to table any discussions about the past until after you get through the business of divorce. Being on the same page regarding your goals is key to reducing the costs.
Consider alternatives to litigation
A litigated divorce is going to cost more than a dissolution. If you have some sticking points that are making negotiations with your spouse difficult, consider alternatives like mediation.
Get organized before you go to your attorney
One of the biggest time-consumers your attorney may have is trying to organize your financial records. If you get things in order and go in with a clear picture of your marital assets and debts, you’ll save time and money on fees.
Divide as much as you can without your attorney’s help
You don’t have to get an attorney involved in dividing up the household goods or arranging for those items to be moved. Some couples do all their negotiating via their lawyers, and that can make a divorce much more costly.
It can take some legwork on your part — and cooperation on the part of your spouse — to reduce the expenses you both face during this time, but the effort can definitely be worth it.