Believe it or not there is one simple way to keep your bills from your divorce lawyer, accountant or divorce financial analyst under control. The answer: have civilized conversations with your spouse. Try to work out as many issues as possible yourselves. The more you do this, the more you will save in professional fees. On the other hand, the more you fight, and the more you hide from one another, the greater the likelihood that your divorce will take longer, and the more it will cost.
Another way to minimize the fees you pay divorce professionals helping you with your divorce is to minimize the work you are asking them to do. If you don’t organize and present the information they require, they will have to spend time doing that for you. Most importantly, do not treat your divorce lawyer or financial expert as your therapist or use their time to vent your frustrations. If you need to work through your anger or emotional issues, I recommend that you hire a trained therapist. Not only will a therapist be more effective in helping you deal with your emotional issues, you will likely be able to communicate better with your spouse and therefore negotiate the terms of your divorce settlement more efficiently.
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Loretta Hutchinson CFP®, CDFA™, NCC is a Certified Financial Planner™ and President of Financial Divorce Plan, LLC in Langhorne, PA and Naples, FL. She can be reached at Loretta@FinancialDivorcePlan.com, or 267-2026-5158
Registered representative offering securities and advisory services through Centaurus Financial Inc., Member FINRA and SIPC, a registered investment advisor. Supervisory Branch: 3902 State Street, Suite 101, Santa Barbara, CA 93105, 1-888-569-1982. Harvest Group Financial Services and Centaurus Financial are not affiliated.
Loretta Hutchinson is a member of the DailyWorth Connect program. Read more about the program here.