5 Money and Time Saving Tips from an Experienced Divorce Attorney
October 15, 2011
By now you are probably aware that nearly half of all marriages end in divorce, but did you know that research now suggests that nearly 80% of divorces are one-sided and not something that both parties want?
No matter who files for the divorce, the fact remains that it can have an enormous economic strain on the parties involved. Read on for tips on how you can avoid being swept into a lengthy and costly court battle that will bring unnecessary anxiety and animosity to an already adversarial situation.
1. Look Into Alternative Dispute Resolution
A party facing a dissolution may keep cost low by opting for alternative dispute resolution, such as mediation, arbitration, collaborative law or services of a retired judge. I highly recommend resolving divorce issues through these methods to those who don’t want to incur enormous attorney fees by having the proceedings heard by regular court process. Unfortunately, it’s commonplace these days for attorneys and other parties involved to purposely drive up the fees by waiting a number of hours and having the matter heard by the judge.
2. Plan, Plan, and PLAN
When it comes to divorce, there are many areas of concern that require a great deal of attention; concerns such as probate disposition, insurance, real estate, debts, disposition of assets, custody of children, tax planning, retirement benefits… the list goes on. To adequately prepare, I recommend clients collect all relevant documents, such as bank statements, property tax documents, loans and insurance statements, and everything that may impact the financial aspect of your case. Make copies of all documents and store them in a safe place. Meticulous planning with an attorney and a tax advisor is crucial if you want to not only save money and time, but also keep a relatively calm statement of mind.
3. Domestic Partners Must Follow Requirements
Registered domestic partners must first follow and satisfy statutory requirements and “perfect” the partnership before they can be entitled to the same rights as spouses – except when it comes to federal tax benefits and other rights governed by federal laws. This area should be monitored to see whether existing laws will change.
4. Ensure Prenuptial and Postnuptial Agreements Are Enforceable
As the divorce process goes on, your spouse may suddenly find what was once a perfectly fair agreement to be unjust and fight its enforceability. Don’t count on your spouse to always act rationally; it is rare for anyone to encounter divorce and not respond emotionally. Careful consultation is highly recommended to ensure that agreements by both parties are valid and enforceable.
5. Biology Does Not Guarantee Custody
Do not expect to have custodial rights just because a party is the biological parent. Not only are there many factors to consider under current case law, this area of law is also rapidly changing.
