Divorces can be liberating for many Texas couples. Unfortunately, they can also be financially disastrous. However, a new trend is helping some spouses manage costs and come out of the divorce process relatively unscathed.
According to divorce experts, some spouses are hiring financial planners to help them avoid making major money mistakes as they negotiate their divorce agreements. These people work with a financial planner, lawyer and other members of a divorce 'team" to ensure they make it through the separation in the best shape possible, both emotionally and financially.
Experts say this type of arrangement works best if the divorcing couple chooses to collaborate on their divorce settlement instead of heading to court. Experts also remind people not to settle too quickly. Every point of an agreement should be carefully considered before anything is signed. For example, many spouses focus on large assets, such as the family home, and forget to make arrangements for things like health and auto insurance. Overall, divorcing individuals should remember that the more they collaborate, the cheaper their divorce will be. According to media reports, most divorces cost between $1,500 and $15,000.
Individuals facing divorce may find it helpful to seek the advice of a divorce attorney as early as possible. An attorney could help protect a client's interests during all negotiations and work to obtain beneficial agreements on asset division, spousal support, child custody, child support, visitation and other divorce legal agreements. If any portion of the divorce settlement needs to be modified in the future, a lawyer could petition the court to make the changes.
