3 Ways to Handle Your Finances Better During a Divorce

Finances During a DivorceApart from the emotional turmoil that comes with a divorce, you also need to face the many expenses that come with it. You will take a big financial hit with a divorce, especially if your situation is rather complicated. The national average for the entire divorce process is a whopping $15,000 to $20,000. That’s why you should be completely prepared to avoid going in debt because of it. Here are some tips to help you handle the financial side of a divorce.

Don’t Waste Consultation Time

Mediators and divorce lawyers alike have hourly charges between $150 and $400. This goes even higher if your chosen lawyer is more popular and applauded. That’s why when you consult with your trusted divorce attorney in Denver, CO, you should focus on coming up with the right arguments to present in court that will help your case. Leave your emotional outbursts out the door because that is wasted time and money, says a lawyer from Matthewsfamilylawyers.com​.

Don’t Settle for a Bad Lawyer

Some people tend to choose the lawyer with the cheapest rate and end up dissatisfied. Moreover, some people make the terrible mistake of representing themselves in court to avoid lawyer consultation fees. Both of these are mistakes that may cost you even more. Consulting a lawyer is an investment, so be sure about who you’re hiring. Instead of avoiding good lawyers because of their high rates, just learn how to manage and minimize their billable hours.

Think About Other Costs

Apart from hiring a lawyer, a divorce comes with plenty of costs that are not obvious. You might also need to hire an accountant to look over your finances and a private investigator to help you find evidence. There are also fees when serving subpoenas, filing documents, and scheduling court battles. Take note of these when trying to assess your current financial situation.

These are just some of the things you can do to be wiser about your income when going through a divorce. No matter how low you’re feeling, don’t just neglect your financial situation because you may suffer for it in the long run.

A Closer Look on the Different Custody Types

Child Custody in AlbuquerqueChild custody is one of the issues you need to settle during divorce. When both parents seem to be fit (or not), it becomes more complicated. In the end, it is the child’s best interest that would prevail. Before the court decides who gets the custody, it is important to have a clear understanding of its different types.

Types of Child Custody

  • Physical Custody – A court-ordered decision gives a parent the right to live with their child under one roof. This does not necessarily mean, though, that that the same parent should be the primary decision-maker when it comes to the child’s welfare. In a sole physical custody, the non-custodial parent only has enough visitation rights as ordered by the court.
  • Legal Custody – The parent who gets legal custody will be the primary decision-maker when it comes to the child’s education, healthcare, and upbringing. Under a sole legal custody, the parent has the right to make a decision without having to consult or inform the other spouse. In some cases, a joint legal custody is ordered by the court. However, child custody lawyers in Albuquerque advise that a parent should inform the court when the other spouse violates the joint custody arrangement.
  • Joint Custody – This is possible if the court sees the circumstances fit. For example, if the distance between the houses of the parents is relatively near and both spouses are not involved in issues relating to drugs, abuse, or violence.

Sole Custody vs. Joint Custody

In some cases, when the court sees both parents fit, it orders a joint legal and physical custody. This gives both parents equal rights on physical contact and decision-making. This means that both parents should agree before the court makes a decision. On the other hand, the court gives the sole legal and physical custody to only one parent whom the court sees fit. The custodial parent lives with the child and is the primary decision-maker. Then again, the non-custodial parent will have enough visitation rights. Knowing the different types of custody should make it easier for parents to know what their rights are relating to the child’s welfare. As the law on child custody is intricate and sensitive, you should always seek help from a child custody lawyer in your state.