The end of a marriage is a difficult and emotionally strenuous time for anyone. Therefore, the added stress and financial concern that accompanies an expensive divorce is definitely something that you should avoid at all costs.
It seems that fewer people are opting for divorce these days, with the overall percentage in the UK dropping a fair amount since previous years. Whether this is due to people living happier lives in 2017, marriage counselling being successful, or even the possibility that people are less inclined to be unfaithful, one has also to consider that the expense of divorce is a genuine reason why many people choose to stay together.
A divorce isn’t a pleasant thing to go through, but an expensive divorce is an entirely different affair. An expensive divorce can completely change the way you live your everyday life, your ability to support yourself, and can even result in you getting into debt. The reality, though, is that a divorce can be handled in a financially sound manner.
This article will look at a few of the ways you can avoid an expensive divorce and maintain a high quality of life.
Prenuptial and Postnuptial Agreements
Don’t worry: this isn’t about to be a ‘you should have got a prenup’ moment, but if you’re going through a divorce with no prenuptial agreement in place, there’s nothing to be done. With that said, if you are planning to get remarried, a prenuptial agreement will help you to avoid any arguments to do with the dividing up of assets.
If you do have a prenuptial agreement in place, it’s important to get in touch with your divorce solicitor to make sure you don’t get any nasty surprises if your former spouse happens to find a loophole or two.
Although most people will have heard of prenuptial agreements, not as many will be aware that postnuptial agreements even exist. To some, it may seem unnecessary and a fantastic way to fuel an argument, but the suggestion of a postnuptial agreement could very well be the game-changer that helps you to avoid an expensive divorce. With current and future assets divided between you already, it will make life a lot easier in the event of a divorce, not to mention saving you money which would have been spent on endless back-and-forths between your and your spouse’s divorce solicitors as they negotiated terms.
Emotionally-Fuelled Decisions Are Rarely the Best
If you think back to times in the past when you made decisions based on your emotional mindset, rather than taking the most logical course of action, how did it go? Not great is often the answer. The choices you make throughout the divorce proceedings will have a massive impact on your future, so opting to use your head rather than your heart will be needed if you want a financially stable future.
In many cases, the relationship between the couple is very hostile. Many of the decisions made are with malicious intent, rather than with empathy and a willingness to compromise. By adopting a calm, level-headed attitude towards your spouse, you’ll be able to think more clearly, which is the best way to make sure that you both get a fair share of what you’re owed.
Before jumping into decisions, it’s crucial to speak to your divorce solicitor and call on their knowledge and experience to judge whether it will actually benefit you in the long run. A divorce doesn’t need to be a war where each battle is emotionally draining. Keep a cool head, use your brain, speak to your family lawyer and save a lot of money in the process.
Ideally, you’ll get through the process without spending an extortionate amount on divorce solicitor fees, as well as coming out the other side with a resolution that doesn’t leave you in financial trouble. Finding the best divorce lawyers to suit your needs and budget will be vital. It’s worth noting that these lawyers might not be on your doorstep, so it’s a good idea to shop around a bit.
London is somewhere you’ll find an abundance of divorce solicitors. In fact, three quarters of the UK’s lawyers operate in the greater London area — all of which are highly skilled and highly competitive. That fierce competition means that you’ll find top-quality lawyers for a reasonable fee.
A competent and experienced divorce solicitor will give you the best chance of avoiding an expensive divorce, making the transition from marriage to newly single as painless as possible in the process.