I hear questions from people who come to me for divorce financial advice. No matter whether we are talking about College Station or Houston, the answer is always “it depends.”
It depends upon which divorce process you choose. Do it yourself, litigation, mediation or collaborative. Even the do it yourself can be expensive if you are not fully aware of the complexities of your financial situation. Don’t be like most people. Don’t assume your situation is simple.
It depends upon how cooperative you and your spouse are going to be with each other. Will you compromise quickly? Will you fight over the vacation souvenirs? (Yes, I saw that happen.)
It depends upon whether you are counting the future hidden costs of incomplete information. Don’t be focused only on the present. Look ahead at the possible financial gotchas that will bite you if you shortcut your divorce. Hire competent professionals: attorney, divorce CPA and child specialist.
It depends upon whether you hire the cheapest or the most expensive attorney. Don’t do either. Hire an attorney with average hourly rates. Ask other professionals for recommendations. Your friends and colleagues will give you names, but that doesn’t mean their favorite is the right fit for you.
It depends upon how organized you are. The more organized, the more you can save on fees.