3 Financial Mistakes to Avoid When it Comes to the Average Cost of Divorce

3 Financial Mistakes to Avoid When it Comes to the Average Cost of DivorceWhen a family goes through a divorce, they often become anxious over the costs associated with the process. This is understandable, given that they are going to have to maintain two households on the same incomes that previously supported one. Fortunately, there are some things all parties involved can do to keep their costs down and while still resolving their matters fully and efficiently.

Communicate versus Litigate

In many instances, litigation costs are driven up because divorcing spouses do not communicate with each other and instead go straight for litigation via the filing of motions or retaining experts. In many instances, if the parties and their respective attorneys had attempted to reach a resolution of the issue prior to seeking a decision from the court, they could have avoided the expense of a motion and made an agreement that they can each live with. While motions are certainly necessary in a number of cases, they are not always the answer. Many divorces are resolved without having to file any motions. If you are concerned about the cost of your divorce, it’s important to keep an open mind over trying to resolve the matter without the aid of the court. In fact, you should always take the time to consider if an expert is truly necessary in your case. For example: If your spouse is self-employed, you may want to hire a professional to value the business. However, you will need to also take a step back and look at the documents produced in discovery in relation to the marital lifestyle. If the numbers look similar to what you were living on during the marriage, it may be more worthwhile to preserve the funds that would have otherwise been allocated to the expert.

Be mindful when communicating with your attorney and firm staff

Every family law firm’s retainer agreement is different, but one thing will certainly be the same: you are billed for the time that the attorneys and paralegals work on your case. This is important to keep in mind because it is often an area where people run up costs. If you have to get documents to your attorney or have questions, you may want to wait to send them until you have multiples. While it may take your attorney longer to review a lengthy email, it may ultimately be more cost conscious than sending many smaller emails. You do not want to be so conservative that your attorney is not getting the information necessary in your case, but it’s an area that’s often the cause for more expensive litigation.

Complete all paperwork as fully as you can and in a timely manner

Throughout the divorce process, there are many times that you are asked to complete paperwork. Discovery, which is the exchange of documents and proof about your respective financial lives, is the most comprehensive exchange of information, and you are often asked to answer more than 100 questions. It will be beneficial to your case, and your bill, if you do as complete of a job as possible when you are asked to fill out the initial response. If your attorney or the staff has to repeatedly request additional information from you, it will lead to an increase in your bill. You are the only person who has this information and can answer these questions, so it will ultimately fall to you to answer. Be proactive in your case by providing as much information as possible.

If you are considering a divorce and have questions about the cost and the process, contact the attorneys of DeTorres & DeGeorge to schedule a consultation.

Financial Divorce Guide
About DeTorres and DeGeorge Family Law

DeTorres and DeGeorge Family Law is a New Jersey based family law firm that has been helping New Jersey residents achieve the best possible results in their divorce for nearly 30 years. The DeTorres and DeGeorge Family Law team is always ready to fight for their clients’ rights – determined to help New Jersey families overcome legal challenges from start to finish. Our legal team, with over 65 years of combined experience, provides expert guidance on all family law and divorce-related matters, including custody and parenting time, alimony and child support, equitable distribution of assets, premarital agreements, post-divorce issues, executive compensation distribution, divorces for business owners, and divorce mediation. The firm has been recognized for its dedication and expertise in the industry by multiple local and national organizations, including Super Lawyers, Law Firm 500, and the American Institute of Family Law Attorneys. Rosanne DeTorres, Managing Partner, is one of 150 lawyers certified as a matrimonial law attorney.

Leave a Reply

Your email address will not be published. Required fields are marked *