Divorce Finance Tips
When you strip out the emotions, divorce settlements are all about money. In modern times it is rare for either party to recover their costs from the other side, so it is vital you do not spend all of your money on lawyers. Our top divorce finance tips for saving you money, while still getting the job done, are:
- Most costs are spent in obtaining financial documentation. The easiest way to save money is to get the information yourself. Obtain a financial questionnaire and use it to collate the financial documentation needed for your case.
- Where you remain on speaking terms with your former partner/spouse, you should try and discuss the matter with them, to see how much room there is for an amicable settlement. Before you do this, you should have a preliminary discussion with a solicitors to check where you stand.
- Focus on what is important to you and consider what you are prepared to compromise on to get it. Far too many people spend thousands of pounds arguing over unimportant items just so they feel they have "won", when in reality everybody loses.
- Even if you agree a financial settlement, it will need to be formalised by the court in a consent order, otherwise you are not protected in the future if your ex changes their mind.
- If discussions or mediation is not working, then we say go to court and get a judge to make the decision, rather than waste time, money and emotional energy getting nowhere.