Anyone currently going through a divorce or thinking about filing for divorce in Tennessee likely thinks about how much the process costs. While ending a marriage is often expensive, it does not have to cost more than necessary.
U.S. News and World Report offers tips on deflating the cost of divorce. There is no need to go bankrupt while starting a new chapter in life.
Only consult a lawyer when necessary
Legal advocates help facilitate the divorce process, but time spent with them translates to money spent. Rather than immediately reach out to a lawyer with a question, divorcing spouses should write their questions down and ask them during regularly scheduled meetings.
Be open to receiving alimony
Both men and women alike can be reluctant to admit they need financial help after a divorce, as noted by The Week. Alimony sets a person up for financial success after divorce. The money received can help an individual regain financial balance after the cost of divorce.
Do not let emotions rule finances
Anyone feeling down or frustrated about divorcing should think twice before spending money. Emotional spending is especially common with the involvement of kids. It is best to only spend money on necessities and save as much as possible.
Keep taxes in mind
One of the biggest reasons to put off major (or several minor) purchases during the divorce process is taxes. Specifically, going from married to single can have a significant impact on the first tax bill after a divorce is final.
Divorcing spouses should also focus on dividing assets as evenly as possible. Doing so can prove beneficial years later down the line.