How to Save Money on Your Divorce

Divorce is not complicated, it is simply the end of your legal status as a married couple. In Pennsylvania, property and debts are divided equitably (Equitable Distribution). The process is straightforward, couples must equitably divide, distribute or assign the marital property. However, if you and your spouse want to fight about it, divorce lawyers will happily bill you 100+ hours ($50,000+) to help you figure it out.

It’s easier than you think.

In reality, divorce settlements are EASY. There is no need to spend six figures on lawyer fees to divide your family’s assets. In some cases, an aggressive lawyer may promise you will win EVERYTHING, but the reality is folks never get everything. The empty promise is made to keep you as a client, only to leave you exhausted, broke, and disappointed in the end.

Disclose everything.

The divorce business is estimated as a $28 billion industry. It is an ugly game, and too many players want a piece of the pie. Most couples can’t afford the expensive discovery process required by the courts. Paying for valuations, private investigations, forensic accountants, and experts is not necessary. All you have to do is disclose everything. In the real world, most couples do not hide assets, and it is not difficult to track income using account statements and tax returns. Don’t overthink it!

Make smart financial decisions.

Know your money and create a plan. Using budget sheets or apps, calculate what your financial life will look like after divorce or separation. Set realistic goals so that the transition into the new chapter of your life is smooth and seamless. Creating a financial picture for your family can save thousands of dollars and give you the knowledge to make smart financial decisions.

Don’t use divorce as a punishment.

No one wants to go through the divorce process. Using divorce to punish your spouse will cost you money and frustration. Beware the temptation to destroy your spouse using lawyers, legal fees, and false allegations. This strategy will only hurt yourself and your children in the end. Only the lawyers win in these situations.

Get a coach or therapist.

Most couples find it is easier to navigate the “business” of divorce if they are working with a mental health professional. Unloading your emotional baggage will help you see the situation more clearly, saving you time and money in the long run. When emotions are high, couples tend to make irrational decisions they regret. If both spouses are receiving support from their own professionals, the divorce process is smooth and quick.

Mediate first.

Mediation with a neutral, experienced mediator should be your first step. The mediation process is quick and affordable, saving your family tens of thousands of dollars in legal fees. Keeping your family out of court is the best decision you can make for your mental health and finances during this process. It really is that easy.

Contact me.

If you or your partner would like more information on mediation or would like to schedule a consultation Click here:

NOT LEGAL ADVICE: The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.