There are many expenses that are associated with divorce. But what you should know is that you may be able to skip out on some of these expenses by opting for an uncontested divorce. Continue reading to learn how you can save money with an uncontested divorce and how one of the experienced Hudson County divorce attorneys at Greenberg & Walden, LLC can help you in achieving this.
How can an uncontested divorce save money?
First of all, an uncontested divorce is one in which you and your spouse can amicably negotiate all of your divorce-related terms, such as your property division, child custody, child support, and spousal support settlement agreements. Further, an uncontested divorce can be accomplished through alternative divorce methods, such as mediation or a collaborative divorce.
With that being said, these alternative divorce methods tend to be less expensive than litigation. That is, in the state of New Jersey, uncontested divorces tend to cost couples approximately $5,000, but contested divorces can cost as much as $13,000. This is because litigation comes with hefty court fees, attorney fees, and more.
And so, if you and your spouse have remained cordial since you decided to split, then it may be worth considering an uncontested divorce. This may pose as difficult, but if successful, you may be able to cut your divorce expenses in half.
How else can I save money in my divorce?
We understand that, unfortunately, there are some circumstances in which an uncontested divorce is not a viable option for couples. Even so, there are still methods you can use to protect your money in your divorce. Examples are as follows:
- Open your own bank account and an emergency fund so that you can work toward becoming financially independent.
- Separate your bank accounts so that your funds are protected.
- Open your own credit card so that you can work toward a credit history.
- Separate your credit cards and an emergency credit card so that you are no longer responsible for your spouse’s expenses.
- Take inventory of your personal assets so that they are not included in equitable distribution proceedings.
- Know the balance of your retirement accounts so that you get your fair share.
- Hire a forensic accountant to ensure that your spouse is not hiding money or assets.
All in all, one of our skilled Hudson County family law attorneys can help you follow through on these money-saving methods. In your uncontested divorce, we can foster an environment that promotes negotiating resolutions for your financial disputes. And in your contested divorce, we can fight to protect the money and other assets that are rightfully yours. So regardless of what your situation may be, you must pick up the phone and give us a call today.