It is true: divorce can be costly. But there it’s possible to protect yourself from breaking the bank if you are simply aware of the present and future financial implications that come with a divorce.
Most importantly, retain an Arizona divorce attorney who will be prudently conscious of your finances throughout your entire divorce process. When first consulting with a potential divorce lawyer, ask questions to ensure that they will keep your best financial interests in mind. Above all, you will need a strong financial settlement, and you will need an experienced divorce attorney to craft it for you.
Secondly, be realistic and open-minded. Evaluate your assets, analyze your tax consequences, and be open to negotiating with your spouse. The more realistic you can be about your personal finances and the more you can work together with your spouse, the less you will end up spending on legal fees. For example: a couple with $5 million in assets could spend only $5,000 if they are able put their differences aside and know their finances accurately, while a different couple with only $100,000 in assets could spend $20,000 on fees if they can’t work together and are financially irresponsible.
Even though divorce can be emotional, don’t lose sight of your financial reality. Don’t end up with the burden of assets you can’t afford to sell. Protect your financial security whether or not your spouse cooperates with the help of a knowledgeable Arizona divorce attorney who has a thorough understanding of finances. Call 480-464-1111 to schedule a consultation with Phoenix divorce lawyer, Tim Durkin today.