It’s common knowledge that divorce is expensive, but what really makes it so costly and what are you doing to lend a hand? Here are a few red flags that can tip you off that you might be making your own divorce cost more.
You Refuse to Compromise
Compromise is essential in a divorce. Most divorce settlements don’t split assets precisely equally down the middle. Instead, New York favors equitable distribution, which means fair but not necessarily equal. If you refuse to compromise and argue every detail, your divorce will take longer and as a result, the cost will be higher.
You Spend Money Like You Have Two Incomes
If you’re still spending money like you have two incomes to work with instead of one, you will likely face financial trouble sooner rather than later. Create a budget with just your income and stay as close to your monetary goals as possible. If you’re a parent, steer clear of the temptation to purchase excessive toys, games, and other material items to lift their spirits during the divorce. This isn’t often successful and is simply a waste of valuable resources.
You Involve Your Attorney At Every Opportunity
Your family lawyer is an excellent resource throughout your divorce. However, if you choose to get your attorney involved frequently via emails or calls, you’ll be billed your lawyer’s normal hourly fee for the time they spend working on correspondences for your case. Try to reach out to your attorney only when necessary and have your questions or concerns ready to discuss. This will help keep the call as efficient and productive as possible.
You’re Keeping the House
Many people consider keeping their home the “big win” when it comes to a divorce. If you keep the house, you may walk away feeling like you’ve gotten the better end of the deal, only to learn later on that the cost of upkeep is more than you can manage on your single income. You may want to consider selling the house and using your half of the funds to pay for a down payment or rental deposit on a smaller, more financially flexible house.
Manage Your Divorce Costs with the Help of a New York Divorce Lawyer
Divorce costs can be manageable with the assistance of an experienced family law attorney who can help you stay focused on the important matters and negotiate where possible. We have the skills and track record to protect your best interests after filing for divorce. Call now for a consultation at (718) 878-6886.
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