Divorce is tough for any couple. However, it shouldn't be tough on your wallet. Most divorces are a financial nightmare because many spouses end up in court, which involves a lot of preparation and high legal counseling fees.
The cost of any divorce can be reduced if the number of issues the spouses disagree on is low, or if you choose to divorce without a lawyer. Similarly, divorcing without going to court is a major way to reduce costs. However, if the divorce does end up in court, good same sex divorce lawyers can keep the costs down through excellent preparation. Always choose the best divorce lawyers for men in Miami if you want a speedy and low-cost divorce.
Here are some of the best tips that will help you minimize the cost of your divorce:
Tip #1 – Choose the best divorce process
The first tip in our guide is quite simple – to reduce the cost of a divorce is to avoid a trial. A good divorce attorney will always try to settle your case out of court. There are, of course, other approaches to consider. For instance, mediation is a good alternative, but it's only applicable to spouses who have the same goal and want a quick way out. Mediation saves a lot of money because it eliminates the middleman (the divorce lawyer). Average divorce mediation costs $5,000 to $15,000, depending on various factors.
Another option is to have a collaborative divorce. During this process, the attorneys work towards a settlement. Regular meetings will lead to a successful settlement. Collaborative divorces are more expensive than divorce mediation. On average, a collaborative divorce for a married couple might set you back $15,000 to $50,000.
Tip #2 – Use paralegals and associates whenever possible
The largest costs associated with a divorce are the lawyer's fees. You can lower these fees by working with paralegals or associates. These professionals almost always charge less than partners, and the services are satisfactory for most divorce cases. Keep in mind that the best same sex divorce lawyers have younger associates that are very capable. Talk to these lawyers and ask if an associate can handle your case.
Similarly, paralegals can do plenty of legal work, at a much lower cost. Make sure to contact your attorney and ask whether the paralegals at the firm can handle your legal work. Another way to reduce costs is to work with a divorce lawyer located close to your residence, as many lawyers bill extra for travel time.
Tip #3 – Get your financial situation in check
A divorce is primarily a financial transaction. The more you do to organize your finances, the higher the chances of reducing costs. Many divorce lawyers for men in Miami spend a lot of time organizing the client's files and understanding their finances. A lot of clients have poorly organized bank accounts, debt, savings, and other assets. Solving these financial issues is difficult, time-consuming, and costly.
Try to do this work by yourself, or work with an accountant or a financial advisor. Talk to your bank and gather bank statements, mortgage information, and other financial documents. Get copies of your retirement, titles, deeds, and investment documents. Ideally, get these documents in digital format as well – they can be very helpful for your attorney.
Tip #4 – Talk via email, not phone
Time is money – this is particularly true in the legal sector. A good divorce attorney is busy and his or her time is precious. Phone calls can be time-consuming, so try to focus on email communication, especially during the early phases of your divorce. Emails have another major advantage – they can be very clear and concise. A well-written email can provide a lot of information, without unnecessary clutter.
If you do need to call your divorce lawyer, make sure it's a scheduled call. Don't call unexpectedly, and don't call on weekends or after work hours. Make sure the call is prepared – know what you want, what questions you need answers to, and what type of information you need. Also, take notes, especially if the information is technical. Repeat any question if something is not clear.
Tip #5 – Avoid paying for appraisals if you don't need them
Appraisal fees for vehicles, homes, and other tangible assets can be quite costly. When you can, try to skip professional appraisers and agree with your spouse on a value for these assets. Good divorce lawyers for men in Miami can help you reduce these costs. For instance, a good attorney can put you in contact with a realtor who can do a free appraisal for your home. It may not be as accurate as a professional appraisal, but it can help you reduce the costs of your divorce.
Tip #6 – Do you have retirement funds? Keep it as simple as possible
Dividing up retirement accounts can be very expensive during a divorce. You will definitely need legal assistance if you choose to do this. Luckily, there is a cheaper alternative – have similar, roughly equal accounts. In this case, dividing them up is quite straightforward - “you keep yours, I'll keep mine”.
If this is not possible, try to swap assets in order to keep the overall financial situation equal among spouses. For instance, a spouse may get the house, while the other one may get the car and the retirement account. Also, rollover 401(k)s into Individual Retirement Accounts (IRAs), as they can be divided without a complex QDRO order.
Tip #7 – Divide the assets on your own
Ideally, assets should be divided by both spouses, together with their same sex divorce lawyers. However, this procedure can get expensive. To avoid these costs, try to figure out who'll get what by yourselves. If you can avoid it don't pay your lawyer to divide furniture, rugs, and dishes – it's ridiculous and very expensive. Do it at home, before going to a lawyer.
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