One of the unfortunate realities of divorce is that it is expensive. The average cost of a Colorado divorce is $10,000 to $15,000, with some divorces costing as little as $4,500 and some costing as much as $32,000 or more. The amount of conflict, complexity of assets, and other factors determine how much your divorce may cost. One factor that you have some control over is the expense of divorce experts. From child custody evaluators to forensic accountants and others, these experts are often needed to help sort out some of the more contentious issues in your divorce. However, there are steps you can take to avoid hiring some of these experts, and other steps that can reduce the amount of time these experts spend on your case, thus saving money. At Colorado Divorce Law Group, we may be able to help you avoid overspending on experts in your divorce by recommending ones we have personally worked with, offering suggestions on tasks you can manage yourself to save money, and helping negotiate less contentious issues so you can avoid hiring an expert for everything. Call (720) 593-6442 to schedule a consultation and learn more about your Colorado divorce and the associated expenses.
Divorce experts are professionals who have specialized knowledge and skills that they use to assist individuals navigating the complexities of the divorce process. A divorce attorney is one kind of divorce expert, guiding their client through the legal process. There are many other experts whose skills benefit those going through divorce.
These experts do not necessarily specialize in only divorce cases. Other experts for divorce include:
The simple reality of a Colorado divorce is that the higher the conflict level, the higher the divorce expenses. Conflict costs money, whether it is because of increased attorney fees because the parties go through their lawyers for all communications or because of longer and more frequent court hearings while the parties argue over property division, child custody or support, or other issues. These expenses can add up quickly. However, if the couple can use some strategies to curb their conflict, they can reduce the overall costs of their divorce and may also be able to avoid paying for unnecessary divorce experts.
Some strategies to try include:
Another way to make the most of divorce experts without overspending is for the spouses to do some of the background work themselves. Most of the documentation and evidence these experts will need is requested through the legal discovery process. However, that costs money, as do subpoenas to various sources, such as mortgage lenders. By gathering this documentation and evidence and organizing it themselves, individuals may save money.
Individuals should speak with an attorney at Colorado Divorce Law Group to learn about the specific documents and evidence required for their divorce. Commonly needed documents and evidence include:
After gathering this information, individuals should organize it before sending it to their attorney or any experts. Send documents, pictures, videos, and other evidence in reasonably sized groups that are well-organized, but not overly organized. They should be sent in groups that are small and organized enough to easily copy and work with the information.
Whether the individual is learning information for the first time as they gather documents or is just confirming what they already know, understanding their circumstances can be a key factor in saving money on divorce experts. Being thoroughly familiar with their financial situation will prevent a CPA, forensic accountant, or other financial expert from wasting time reviewing minor details. This familiarity may also help a spouse recognize when their spouse is hiding assets, allowing a forensic accountant to make better use of their time searching for those assets.
This familiarity extends to where the spouses stand with agreements as they navigate the divorce. Individuals often ask their attorneys to draft agreements they think they have reached with their spouse, only to discover later that there was no agreement or their spouse changed their mind. The hours an attorney spends drafting these agreements add to the expense, so individuals should be clear and precise when communicating with their spouse regarding agreements and only ask their attorney to draft one when both spouses are firmly committed to an agreement.
Divorce can often feel chaotic and overwhelming. There is a lot to manage, and many people try to manage all of it all at once. Instead, individuals can save money on experts and reduce their stress level by assessing their needs and goals to decide what requires expert attention instead of blindly hiring all the experts because they were suggested or to be “safe.”
When assessing their needs and goals, individuals should focus their resources on the most critical issues that will have the biggest impact on their long-term well-being. Additionally, they should consider potential conflicts and how hiring an expert now may save money by avoiding costly mistakes later. Individuals should create a list of questions and concerns for each expert so that when they meet with the expert, they are prepared and can move quickly through the issues, saving both time and money. An attorney may also be able to provide guidance about whether to hire an expert for specific circumstances.
Choosing the right professionals can be key to avoiding overspending. When trying to save money, individuals often look solely at the financial cost of experts, but this can be a very expensive mistake. The expert with the lowest fees may also have the least experience, no skills, and little to no training.
While keeping cost in mind, individuals should research and compare the various experts they need. They should seek referrals from their attorney if they have one, friends and family who have gone through divorces, and reviews shared online about people’s personal experiences with them. Individuals should check each expert’s experience and credentials to ensure they have the knowledge and skills required, and confirm those credentials are legitimate. They should also consider the expert’s communication style, as mismatched communication styles can lead to miscommunication and misunderstandings, which can drive up the cost of working with the expert.
Another way to avoid overspending on divorce experts is to manage costs effectively. One of the simplest ways to do this is for individuals to comply promptly with requests for information or documents. This helps to avoid delays and unnecessary follow-up, both of which will increase the cost of working with the expert. When you have questions or concerns, keep a list and address several during the same communication to avoid charges for multiple phone calls, emails, or texts.
Another way to manage costs effectively is to understand the billing practices and fee structures that each expert uses. This allows the individual to negotiate and ask for discounts or payment plans. Another option may be to ask about unbundled services. For example, when someone hires a divorce attorney, they are getting a set, or bundle, of specific services related to the divorce. However, some attorneys may “unbundle” those services and allow the client to pick specific services they need (such as document preparation) and pay for just those services. Other experts may have similar bundled services that they can offer individually to help divorcing couples save money.
In a divorce, it is not uncommon for the spouses to have specific outcomes they want, such as a particular asset they want to keep or a specific parenting plan. While it is good to have ideal outcomes in mind, focusing on resolution rather than getting their own way can help individuals save money in their divorce. Individuals should be cooperative and strive for amicable solutions whenever possible. They can also take steps to avoid unnecessary court hearings and depositions by opting for alternative dispute resolution (ADR) methods instead. Collaborative divorce and arbitration are two ADR methods used in Colorado divorces. Mediation is another, and individuals can schedule mediation through Colorado’s Office of Dispute Resolution.
Another way to focus on resolution and reduce spending on divorce experts is to choose their battles wisely. There may be many things spouses disagree on during their divorce, but arguing over all of them will lead to drawn out fights over minor assets or trivial details. Instead, individuals should prioritize what is most important to them and focus their efforts on those things, while giving in on issues that are of minor or no importance to them.
Some divorce expenses are fixed and unavoidable, but others vary depending on the circumstances of your unique case. While you may need to hire a child custody evaluator, real estate appraiser, or forensic accountant, you do not need to spend a fortune on their services. With careful planning, prioritizing the issues that are most important, and a willingness to do some background work yourself, you can save money. At Colorado Divorce Law Group, our experienced Colorado divorce attorneys may be able to help you identify your priorities, keep costs down, and resolve conflicts more quickly. Call (720) 593-6442 to schedule a consultation and learn more about how to get the most out of divorce experts without overspending.