The Next 6 ways to Avoid a Costly Divorce
7. Get organized
Make sure that you get all your information, documents and financial records in order. You can save yourself a lot of money by doing the simple and basic tasks yourself and not wasting expensive time with your attorney.
You can save yourself a lot of money by having all of your records organized and photocopied to present to your attorney. Make sure that you are efficient, thorough and treat it like a business audit.
This ensures that you use your attorney’s time for what they are best at, not wasting it through information and record gathering. Always be prepared and organized when you have a scheduled appointment with your attorney and present them with all of your vital information in an efficient manner.
Things to consider:
• Closing lines of credit
• Bank accounts requiring two signatures
• Closing of certain joint bank accounts and credit cards
• Deeds to your property and assets
• Total audit of your assets and liabilities
• Your will
• Any trusts that have been created
8. Do the Research – Get informed on the Basics
Find out as much as you can about the divorce process and make sure you have a reasonably good understanding of how it works. This kind of information can be the key to avoiding a costly divorce.
There are simple and easy ways to get informed and educated such as reading a book, visiting the New York State Bar Association website’s family law section and visiting other informative and well respected websites.
9. Lump Sum Alimony
If you are expecting alimony, consider taking it as a lump sum as opposed to monthly payments in order to ensure that you actually do receive it and also to avoid tax, as there is no tax payable on a lump sum payment.
10. Avoiding litigation
Wherever possible, try to avoid actually going to Court to settle the divorce. Litigation is highly expensive and should be used as a last resort. When negotiating, remember to be calm, reasonable and treat it like a business negotiation.
11. Hiring a Certified Divorce Financial Analyst
In some cases you will want to know what the financial outcome will look like once the divorce is finalized. You can hire a hire a Certified Divorce Financial Analyst to do the analysis and financial projections to create a picture of the various scenarios of each potential settlement offer. You will be able to see clearly where you stand with each different settlement option.
12. Most importantly – Make sure you have the best New York Divorce Attorney
Have you got the right attorney? Choosing the best attorney can literally make or break a case. Make sure you go with an attorney that specializes in family law, is highly professional, has a top reputation in the field; extensive experience and that you connect with.
Get the best possible attorney that you can realistically afford. The expense on the highly qualified and experienced attorney could be what actually minimizes the overall cost of the divorce.
You can always find attorneys that are charging low fees, but this could also lead to disastrous mistakes that will burn through your money. A divorce is a specialized area of law and requires expertise, knowledge and experience from a highly respected attorney with a wealth of experience
This is potentially one of the most difficult experiences that you can go through in life. Be sure not to declare war with your ex spouse and turn to an attorney with the skills and experience to guide you through the process, protect your interests and bring the divorce process to a mutually satisfying conclusion in the fastest way possible.
At the Law Offices of Brian D. Perskin, we have over 40 years of combined experience and our team is comprised of skilled, dedicated and hardworking divorce and family law professionals. As such, our goal is to educate, negotiate, mediate or litigate to the best interests of our clients.
Our firm understands that clients are often concerned about the potential of a high cost divorce. We take pride in offering professional services that are not overpriced, while at the same time giving you the highest quality of service, dedication and efficiency.