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How to limit costs of divorce

How to limit costs of divorce

There are a lot of emotions both spouses deal with in a divorce. One aspect that leads to more negative emotions is how much divorcing costs. In many cases, it can cost more than $10,000 to finalize the proceedings.

In addition to legal fees, there may be a lot of other costs to consider, such as taking time off work and changing wills and other estate plans. It may all seem like a lot, but luckily, there are ways you can make the divorce more manageable from a financial perspective.

Consider mediation

When you take your spouse to court with an Indianapolis divorce attorney and let a judge determine who gets what, it can be expensive in more ways than one. A litigated divorce takes longer, and what the judge decides is fair may not be, in your eyes. Mediation allows you and your spouse to work with a neutral third party who assists the two of you in coming to an agreement outside of court. Judges typically sign this type of settlement agreement without changes.

Remain flexible

There may be certain things you want to get out of the divorce, but it is important to have reasonable expectations. It is important to compromise for everyone’s emotional health, but compromising also saves everyone money because the divorce is final sooner. You should take a stand on matters that are most important to you, but it can be good to let go of the more inconsequential details.

Expand the team

Although the divorce process is a legal one, there are definitely financial and emotional aspects that will also need attention. For those, you may be well off hiring a financial planner and therapist. Hiring more people would appear to cost more money, but when you are in a good emotional state, you can better handle the minutiae of legal separation.