Table of Contents
Table of Contents
Divorce can be one of the most financially draining experiences in a person’s life. Legal fees, asset division, child support, etc., it all adds up. And while we’re a law firm that handles divorces every single day, we’re not going to sit here and pretend that spending more on legal battles always leads to a better outcome.
If you want to protect your finances during a divorce, you need to approach it strategically, NOT emotionally. Here’s how to keep more money in your pocket and avoid unnecessary legal costs.
1. DO YOUR RESEARCH
When looking for the right divorce attorney, it’s always great if you can get personal referrals. But, if your referral is from your aunt who got divorced 20 years ago and loved her attorney, maybe her divorce attorney has now moved on to a different firm. Or maybe they practice law differently than they did when your aunt had them as her attorney. Maybe the facts of her case were completely different than your current situation. Whatever it is, it’s important to make sure that the referrals you get are going to work for you.
It always helps to do your homework and talk to as many attorneys as possible to make sure you’re getting one that gels with you and that you know is going to be the right fit.
2. AVOID SURPRISES
Avoid surprise divorce filings whenever possible. I know this isn’t always going to be an attainable goal. Sometimes you have to get out of the house and file an Order of Protection immediately to keep yourself and your family safe. Of course, that’s the right thing to do. But sometimes just having the conversation with your spouse that a divorce is imminent can really help control everyone’s emotions and speed up the process from the onset.
3. KNOW YOUR GOALS
This goes without saying, but a lot of times people don’t really think about it before they file. Yes, you want a divorce, but how do you want it to go? Do you want to try to keep the house? Do you want to try to keep your retirement accounts intact? These are important things to think about right away and let your attorney know so they can guide you on the right path and protect your interests.
4. KNOW WHAT A PARENTING SCHEDULE MIGHT LOOK LIKE
This is another thing that people often don’t think about. But, if you’re able to sit down and talk with your soon to be ex, try to figure out what a parenting schedule might look like that works for the both of you. Now, you don’t have to have everything down to the exact day, but if you have at least a general idea of how parenting time might work with you and your spouse, you’re going to be ahead of the game and avoid lots of billable hours and potential litigation.
5. CONSIDER PRIVATE MEDIATION
Now, if you’re unable to reach an agreement regarding your children as far as decision making or parenting time schedule might go. The court is going to order you to attend mediation. No one says anything. You’re just going to go with a free mediator that probably doesn’t have a lot of experience.
So, you should tell your attorney that you’d like to consider private mediation. This is a process that you can do with your attorney where you seek out another family law attorney or retired judge in the field that has a lot of experience in dealing with issues similar to yours. Now, granted, this will cost you more than free mediation, but you get what you pay for.
Also, if you find a mediator that you like and you’re able to harbor a deal regarding your kids, you might want to use them for financial settlement as well. That will create a seamless process that can help avoid lots of billable hours. Also, don’t forget, even if you don’t have kids, you can still try private mediation. It’s a cost upfront, but a lot of times it can save you a lot of time on your divorce.
6. FOLLOW YOUR DISCOVERY DEADLINES
Everyone who has ever gone through a divorce has had to fill out a financial affidavit and exchange financial statements. There’s no way around this. Don’t be the guy or girl that thinks that they can get divorced without the other side not knowing anything about their financial situation. In order to negotiate, you have to have a complete picture of what your assets are.
So when you’re asked to complete a financial statement or tender bank records, get it out on time. If not, it’s only going to slow things down.
7. DON’T FIGHT OVER PERSONAL PROPERTY
Over the years, I’ve had clients spend thousands of dollars fighting over hundreds of dollars. It’s not the place or the time to spend attorney’s fees and time fighting over dated furniture or a TV that’s 20 years old. If you can learn to let go of personal property, you’re going to thank yourself in the long run.
Arguing for an hour over your favorite weed-whacker can easily net you attorney’s fees that could have paid for a dozen new weed-whackers. It’s just not worth it.
8. FOLLOW COURT ORDERS
Judges all over will say a court order is just that. An order. It’s not a suggestion. So, if there’s something requiring you specifically to do something in an order, do it and make sure you do it on time. If you don’t, the other side can file for sanctions against you, which can not only delay your case further, but require you to contribute towards your spouse’s attorney’s fees.
9. DON’T TRY TO GET OUT OF FINANCIAL RESPONSIBILITY
Don’t try to get out of paying spousal support when you know, inevitably, you’re going to have to end up paying support. I’ve had clients who make millions of dollars, who think that they shouldn’t have to pay their ex a dime, even though that ex raised all the kids, and forwent other career opportunities to stay at home and raise the family.
If the income discrepancy is that big, you’re going to have to pay the other side some sort of support, whether it be in maintenance or child support. The sooner you can come to terms with this, the easier and faster the divorce process is going to go for you.
10. BE HONEST WITH YOUR ATTORNEY
This goes without saying, but a lot of people don’t do it. No matter what the situation, whether it be your financial situation changing or you forgetting to disclose an account, let your attorney know as soon as possible. Attorneys hate surprises, and to avoid any last-minute filings or shifts in settlement strategy, it’s best that you keep a clear line of communication with your attorney.
Like anything in life, communication is key.
FINAL THOUGHTS: A SMART DIVORCE COSTS LESS
The right mindset, organization, and legal team can make the difference between a clean break and a financial disaster. Choose your battles wisely, stay organized, and don’t let emotions drain your bank account.
At Merel Family Law, we’re not here to encourage unnecessary battles. We’re here to get you the best possible outcome without bleeding you dry. We want you to come out better and stronger than when you start working with us.
If you’re facing a divorce and want a law firm that values strategy over drama, schedule a consultation today on our website or call (312) 408-7000 if you’re in a hurry.
Written By Bradley Kaye
Bradley R. Kaye is a divorce and family law attorney who knows how to win. His clients rave about his preparation and support, and he takes pride in giving them confidence in and out of the courtroom – whether it’s with a professional athlete, stay-at-home parent, music industry manager, disenfranchised spouse or high-profile executive.
Brad has built a solid reputation throughout all of Chicagoland and the surrounding areas for his tenacious representation and high-quality legal strategy. He demonstrates confidence, instills it in others and backs it up with results. He has been called a “tireless advocate” and is known to be “straightforward and honest” about the expectations of the often-uncertain court system.
