The Law Offices of James A. Cuddy, LLC

Call To Find Your Way Forward 203-583-8256

The Law Offices of James A. Cuddy, LLC

Call To Find Your Way Forward 203-583-8256

Call To Find Your Way Forward 203-583-8256

Direct, Honest And Fair Family Law Solutions

Avoid these common money mistakes amid divorce

A Connecticut divorce has the potential to cost you a hefty sum, but it does not have to be this way. You and your ex have considerable control over how much money you ultimately spend on your divorce. There are also certain strategies and techniques you might employ to reduce how much your split winds up costing you.

According to Business Insider, it may serve you well to avoid making the following financial mistakes while you navigate your divorce.

Banking too much on alimony

Connecticut does recognize lifetime alimony, but it is becoming increasingly rare in divorces. Thus, if you plan to seek alimony from your former spouse, try to remain cognizant of the fact that it may eventually end. Try to modify your lifestyle to save money wherever possible. You may also want to try to set the wheels in motion for new streams of income of your own.

Failing to consider mediation or collaborative divorce

While mediation or collaborative divorce is not appropriate in all situations, it has the capacity to save you a considerable amount of money. Both options rely less on attorneys than litigated divorces, and this often means fewer billable hours from lawyers. These methods also encourage cooperation between you and your ex, lessening the chances of you fighting hard over every last asset.

Your financial future may look a whole lot different when your marriage ends and you have to live on one income. The more you do ahead of time to set yourself for a bright financial future, the better off you may find yourself, post-divorce.

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