When considering a divorce, many Pennsylvania couples believe it will be an expensive undertaking. If a couple has decided that parting ways is the best solution for happiness, there are some things they can do to keep the divorce costs down. One of the first and most important steps spouses can take is to select affordable legal counsel to represent them.
Divorcing spouses can save money on legal fees by remaining on amicable terms with each other. For instance, if a couple is able to sit down together to discuss property distribution, they will not have to pay an attorney for that time. After working out the basics of an agreement, the couple can then have a much shorter meeting with an attorney to finalize it.
Another important way spouses can cut costs during a divorce is to be honest about all of their income and assets. Failing to report income accurately or concealing assets can result in a judge imposing heavy fines. Couples should also remember to close all jointly held credit card accounts as soon as a divorce is in the works.
Although a divorcing couple may have the best of intentions, not all financial discussions can remain amicable. When there are disputes over asset division, both spouses may wish to be represented by an attorney. A divorce attorney may be able to help keep costs down and save time by helping the divorcing couple draw up legal agreements outside of a courtroom. If the couple is having a difficult time communicating, an attorney may also provide help with mediation.
Source: The Huffington Post, “5 Ways to Cut Costs During a Divorce“, Elliot Grey, October 27, 2013
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