What Are The Best Ways To Save Money in an NJ Divorce?

couple in mediation

You know that a divorce is going to cost you a significant sum, but there are ways that you can prepare for the proceedings and save money. Our Bergen County divorce attorneys can advise you on the best problem-solving methods and help you make it through this process with more of your money intact.

What Are Some Ways For Me to Save Money When I Get Divorced?

There are a few things that you can do to save money during your divorce. We recommend:

  • Staying organized
  • Keeping an accurate inventory of your assets and properties
  • Not hiding any assets or money
  • Trying to reach an agreement on marital debt early

When you are honest and organized, your spouse cannot keep bringing you back to court for no reason. As for marital debt, settling these obligations up early can reduce how much interest you end up paying.

Can I Save Money By Avoiding Litigation?

When couples cannot agree on the terms of their divorce, they often find themselves going in and out of court to try and reach some kind of solution. This is time-consuming and expensive. Our lawyers can help introduce you to alternative methods of problem solving. You have:

Collaborative divorce: This brings you and your spouse together to agree on every part of your divorce settlement. This can be helpful because it can foster better communication between a divorcing couple, something that is especially important if they are going to co-parent later.

Mediation: In mediation, a neutral third party helps you and your spouse talk things out and find a way to agree on all of the important issues facing you.

Arbitration: This is a legally binding process where a neutral third party presides over something that resembles a condensed version of a trial. You and your spouse have to abide by the ruling.

Annulment: Depending on how long you were married and some other factors, you may be eligible for an annulment instead of a divorce. This simpler process can save you money.

Should I Hire an Attorney?

It may seem counterintuitive, but hiring an experienced divorce attorney can actually save you money. Hiring a lawyer is an expense, but in return you are getting legal knowledge and experience that can be used to help you get through your divorce as efficiently as possible. Wasted time can cost you, but a lawyer from our firm will make sure that no energy is wasted and you get your divorce negotiated and finalized as soon as possible.

Schedule Your Consultation Today

If you are filing for divorce, make sure that you have an advocate on your side who is ready to help you fight for the most favorable outcome. Contact Townsend, Tomaio & Newmark and schedule a consultation with our team. We would be happy to tell you more about how our experienced attorneys can be of assistance.

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