How to save money in a divorce

On behalf of Lake Toback Attorneys

Divorce can be extremely expensive, and many Illinois residents currently facing a divorce may want to try and save money in any way possible. Those people may be relieved to learn a few tips that can help keep the costs of a divorce down.

One of the best ways to cut costs in a divorce is choose the lawyer that’s right for one’s individual situation. Many people are tempted to go out and hire the best attorney that they can find to get as much as possible from their spouse. However, many attorneys can charge extremely high fees and not fit the needs of their client. The most important step to take is hiring a lawyer that works best for an individual. Reading online reviews or getting a referral from friends or family is a good place to start.

Other important steps include closing all joint credit card accounts to keep from being forced to pay debts one’s spouse incurred during the divorce and keeping negotiations amicable to control legal fees. It’s also very important to report all income accurately to keep from getting on the judge’s bad side. Finally, sticking to any agreement that one makes can reduce costs after a divorce is concluded. Paying alimony and child-support payments on time can help create a good post-marriage relationship that both saves money and creates a better environment for both ex-spouses and any children the couple may have.

While these steps can help save much-needed money, it’s important not to lose sight of the most important aspect of a divorce. No matter how much one spouse may want to remain amicable and use these money-saving tips, the other spouse may not cooperate. It’s up to each spouse to protect their own interests or risk being taken advantage of by the other. An attorney my be able to help someone going through a divorce better protect their financial well-being both in the present and the future.

Source: The Huffington Post, “5 Ways to Cut Costs During a Divorce“, Elliot Grey, October 27, 2013

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How to save money in a divorce