How to Get Divorce and Not Lose Money

by admin on December 8, 2010

Getting a divorce is a troublesome process for everyone involved, not least because there are always money issues to be solved. Not only all common assets acquired during the marriage may have to be split, which means that you will have to lose a significant portion of your wealth, but the divorce procedure itself can be quite costly as well. It may involve preparing all the paperwork, paying for a lawyer and court proceedings, or dealing with the angry and greedy relatives of your husband or wife. To evade the sorry prospect of having your very clothes taken off from you and to avoid excessive divorce-related fees, you can do the following simple, but effective things:

1. Show Foresight

Do not put off finding a good lawyer to the very last moment. Instead, even if you are still living together with your spouse, take recourse to the services of a legal professional as soon as you spot that your marriage is turning sour. In this way, you will be able to receive timely and adequate advice on how to proceed, as well as an honest account of the possible divorce costs. Know that getting professional help as early as possible can be of great importance for your escape from the divorce mayhem, with your finances still breathing.

There is one more case where you should show foresight: from the very beginning of your marriage, start saving money for a possible divorce lawsuit. You call it doom-mongering — I call it valuable prudence that can save you heaps of dough later on, e.g. by sparing you the need to take a high-interest bank loan to settle your part of the divorce fees. If you are lucky to stay with your spouse for life, just use the money for a second honeymoon in the Hawaii.

2.  Be Orderly with your Documents

Before the divorce procedure begins, make sure you have all the requisite paperwork available. Prepare bank statements, debt lists, property deeds, income certificates, etc. In this manner, you will save precious time and reduce your overall bill.

3. Get Familiar with the Current State of Your Finances

If it is your spouse who has been doing the household budget so far, it is now time for a change. Before the divorce proceedings start, familiarize yourself with all financial aspects of your marriage: how much your total yearly income is; what part each of you contributes to it; how much you pay in terms of taxes; what insurance installments you make, and so on. On the positive side, you’ll get to know what your budget is going be when you are formally single again.    

If you intend to get alimony, it is mandatory that you acquaint yourself with this information, so that you know what sum of money to ask for.

4. Behave Yourself during the Divorce

One very good way to keep the divorce expenses low is to contain your emotions during the actual proceedings. Bursting into arguments and verbal assaults with your to-be ex can never benefit your cause, but will definitely prolong the procedure and increase its aggregate cost.

5. Make Corresponding Post-Divorce Changes

Once you are no longer husband and wife, it is time to sort out your personal papers. Go through your inheritance will, car, house and health insurances and make changes according to your current marital status. Also, if you want to reclaim your maiden name from before the marriage, visit the respective state authorities and fill the required paper form(s).

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