Divorce is an emotionally draining process, and if you’re not careful, it can drain your finances as well. To keep divorce costs as low as possible, you need to make wise financial decisions right from the start. Keep reading to learn five ways you can reduce the costs of your Singapore divorce.
Work amicably with your spouse.
If possible, you and your soon-to-be former spouse should agree to put differences aside and treat each other fairly and amicably throughout the divorce process.
However, if you reach an agreement on these issues without going through the courts, you could save thousands–if not tens of thousands–of dollars. It may be challenging to put aside your hurt and be amicable, but the money you save almost certainly could be put to better use in your post-divorce life.
- Fixed Fee Uncontested Divorce Packages Starting from $1200
- Simplified Divorce Process – Checklist for Uncontested Matters
- The Difference Between a Contested & Uncontested Divorce
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Consider divorce mediation.
One of the best ways to work amicably with your spouse is to choose alternative dispute resolution to dissolve the marriage.
Divorce mediation is a process where you and your spouse sit down with a neutral third party, called a divorce mediator, to work out a settlement agreement that is suitable to both of you.
The mediator helps promote healthy communication between the divorcing couple and helps prevent strong emotions from making unreasonable decisions. Mediation is cost-effective because couples who reach a decision are usually able to avoid litigation, a process that will elevate the cost of the divorce exponentially.
To prevent the divorce process from dragging on too long (and racking up legal fees), you must get organized. Keep a divorce journal where you keep track of all divorce-related meetings, notes, and questions.
Also, gather all your divorce-related financial papers, such as payslips, deeds, and bank statements, and keep them in a designated file so you can access them quickly as needed.
Maintaining all your divorce-related documents will save precious time when consulting with your divorce lawyer, which saves you money.
You can also reduce costs by not letting your emotions guide your decisions. You can do this by honestly assessing the most important goals you want and need to achieve in the divorce. Child custody? Retaining the family home or car? Obtaining spousal support?
Write down the most important things you want to achieve in the divorce, as well as the things that you’re willing to let go.
This way, your lawyer can concentrate on helping you attain the most critical issues and not waste time and money on more minor things.
Choose an experienced divorce lawyer or mediator
The best divorce lawyer you hire can make all the difference in the amount of money you spend on the divorce.
Well-experienced divorce lawyers and mediators know how to navigate the divorce or mediation process as efficiently possible, without cutting corners that could come back to haunt you.
They’ll also have a transparent fee and expenses schedule that will help you to understand the best use of their time and your money. Make sure your Singapore divorce lawyer has the experience, skills, and forthrightness to shepherd you through this process wisely and cost-effectively.