The intentions of many newly married couples in Texas are to live in marital bliss forever. Unfortunately, not all relationships stand the test of time, and ending a marriage is not only an emotional affair; it could also be a financial nightmare. However, thoughtful and strategic planning -- and disregarding misinformation and feelings of revenge, rage and bitterness -- can allow couples to secure their respective financial futures. A divorce is typically associated with time consuming and costly litigation over property division and child custody, but alternative options are available.
Both spouses will benefit from the guidance of their legal representatives, but legal costs can be limited by properly organizing the necessary documentation. Leaving an attorney with boxes full of jumbled date that takes the legal staff hours to sort through and make copies typically results in a hefty fee. When each party's attorney can be presented with a properly organized set of copied documents, significant savings may result.
Instead of spending costly consultation time with attorneys to discuss emotional issues, couples may agree to divorce mediation through which all concerns can be negotiated with the guidance of an impartial mediator whose time is typically less costly. This empowers couples to make mutually agreed upon decisions related to their futures rather than spending large amounts on litigation to have a judge make decisions. Each party is fully entitled to have his or her legal counsel present during mediation sessions.
By working on resolving most contentious issues related to property division, child custody, visitation and more, Texas couples may find that divorces approached in an organized manner can be finalized within much shorter times than litigated divorces. The cost is often significantly less than for those proceedings that become courtroom battles. Parents might also have honed their skills for peaceful negotiation during mediation, which may serve them well with regard to co-parenting issues in the future.
Source: cheatsheet.com, "4 Ways to Save Money During a Divorce", Sheiresa Ngo, Accessed on April 1, 2016