Divorce is not for the faint of heart. If you see this in the cards for your relationship, you should watch out, or you could end up in some serious debt by the time it is over. Many couples in Quincy pull out all the stops in their dissolutions, not realizing how much they are really losing until they see their settlement.
Equitable distribution does not mean that you will receive half of all marital assets. The judge presiding over your divorce only has to split them fairly. To determine what is fair, the courts will evaluate your circumstances and what you and your spouse can agree to. Here are a few things to keep in mind to keep yourself from going broke in divorce court:
Get organized
Depending on the length of your marriage, you may not enjoy having to gather all relevant documents and getting organized. It is important during this time and can help reduce your legal expenses. The courts need you and your spouse to provide full financial disclosure. Make copies of all pertinent information and keep them organized in a folder or box.
Consider divorce alternatives
Many people dread divorce because of all the drama. If you and your partner are willing to remain respectful to each other, research other options like mediation and collaboration. Mediation can help you achieve your divorce goals without as much expense and time. If mediation is unsuccessful, you can opt to try it again (at greater cost). In mediation, there are only three parties involved: you, your spouse and the mediator. The mediator remains neutral and works to the benefit of both people in the marriage. The downside to mediation is if it does not work the first time, you have to decide if there is a better alternative for divorce or attempt mediation again.
Collaborative divorce may seem like a more beneficial option if you and your partner are set on having your own legal representation, financial advisers and other expert resources negotiate on your behalf. Both parties must agree for the judge to sign off on the decree. The disadvantage of collaborative separations is if talks break down between you and your spouse, you must start over with a new team of professionals.
Divorce is manageable when you take sufficient time to prepare before filing. Be smart and consider all settlement offers to protect your interest in divorce.
