3 Points to Consider before Filing for Divorce
Budget for divorce expenses.
Do your homework regarding the range of expenses involved in your divorce. If your divorce is uncontested, then it`s relatively inexpensive, but a contested one could range anywhere from $3,000 to 14,000, depending on complexity of issues involved and what stage issues are resolved at. With hourly rates for divorce lawyers ranging anywhere from $350 to $650 per hour, it would be wise to lock into a package where set fix fees are set in place to certain stages of your divorce proceedings (for certainty of charges). If your divorce is likely to be amicable, you can look into using a trained mediator/lawyer, which is much less expensive than parties hiring their own set of lawyers.
Put together the right team.
Find a lawyer who specializes in matrimonial proceedings with a large pool of dedicated matrimonial lawyers and office staff. The last thing you need is a “jack of all trades” or a sole operator with limited resources and office staff. If you and your spouse want to settle matters amicably, your divorce lawyer should also come from a law firm trained and proficient in Mediation and Collaborative Divorce.
Update your beneficiary forms
Importantly, you should review the beneficiaries/nominees for any life insurance policies, retirement accounts, wills and bank accounts as the beneficiary listed will receive these payouts in your demise. Even if you get remarried and you change your will, for certain policies, if the beneficiary listed is still your ex, your ex is getting that money.