5 Ways to Save Money During a Florida Divorce
Getting divorced is a costly endeavor. A 2020 study revealed that the average cost of a Florida divorce without children reaches $13,500, or more than $20,000 when it involves children.
As all the court and legal fees begin to add up, your divorce can put a major strain on your finances. Luckily, there are ways to save money during a divorce to reduce the cost of a Florida divorce.
- Learn Ways to Negotiate with Your Spouse
The parties’ ability to negotiate and maintain open and respectful communication has a significant impact on the cost of a divorce. When spouses have many disputed issues and are not willing to compromise, they are delaying the legal process and increasing expenses.
You need to be willing to negotiate and compromise but avoid doing so at the expense of giving up substantial legal rights. To achieve this, seek legal counsel from a knowledgeable divorce attorney to help you protect your legal rights when negotiating a settlement and reduce the cost of your divorce.
- Be Honest About Income, Assets, and Liabilities
It is very important to be honest about your income, assets, and debts during a divorce case in Florida. Trying to hide your assets in an attempt to avoid sharing them with your soon-to-be ex-spouse is never a good decision because all hidden assets would be uncovered sooner or later.
You are not protecting your assets when lying about income, assets, or liabilities. All you do is make your divorce more expensive for yourself, not to mention that hiding assets could result in penalties or an unfavorable divorce settlement.
- Consider a Collaborative Divorce
If you wish to maintain complete control over your divorce process and avoid many court and legal fees, you should consider a collaborative divorce in Florida. When pursuing a collaborative divorce, you and your spouse can save money on legal fees by negotiating a mutually acceptable settlement without having to hire different experts. For example, you and your spouse can hire a single, neutral financial specialist instead of hiring two experts.
- Have Realistic Expectations When Creating a Parenting Plan
Under the Florida Statutes Section 61.13, both parents are required to submit a parenting plan detailing how they would handle decisions regarding their children’s healthcare, education, and other aspects. Also, the plan must outline living arrangements and holiday plans. You need to have realistic expectations when drafting a parenting plan and keep in mind that Florida law considers that it is in the best interest of the child to have frequent and continuing contact with both parents.
- Work with Your Divorce Lawyer
Your divorce attorney is on your side, which is why it is critical to be completely honest with your lawyer and disclose all important information to him or her. You need to cooperate with your attorney and follow their legal advice and instructions to lower the cost of a divorce.