Keeping costs down during a divorce

On Behalf of | Nov 30, 2021 | Family Law |

If there is one thing that keeps couples together and out of divorce court, other than children, it is the fear of the costs associated with a divorce. Often, couples do not believe that they can afford it, or one spouse thinks they cannot afford life post-marriage. However, the divorce cost barrier can be mitigated, if both spouses are willing to work together.

Arbitration, mediation and collaborative law

The first way to avoid costly divorce fees is to avoid litigation. This can be done through alternative dispute resolution, which includes arbitration, mediation and collaborative law. These methods are done out-of-court, usually, with a team and with the goal of coming to an amicable solution. Not only is this process, normally, much cheaper than a traditional divorce court case, but also can make the divorce process emotionally easier and quicker.

Taxes

Nothing in life is guarantee except death and taxes, and at divorce, since assets are often sold, capital gains and other federal and Pennsylvania taxes may be involved. This is why it is so important to have a tax expert on the divorce team. They can help ensure that the property division process is more equitable.

Long-term thinking

For our western Pennsylvania readers, and those throughout the state, we often get stuck in a now-centric mindset. Though, when planning a divorce, we should think long-term, which includes asset value, taxes, etc. This can help with the property division process and reduce fees because cash can be traded for more valuable long-term assets, or vise-versa, depending on the situation

The key to success

For our Greensburg, Pennsylvania, readers, the key to success really is a willingness to work together, and trying to take as much emotion out of the process as possible. Avoiding fighting and emotion-based decisions can be key to avoiding divorce fees.

 

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