How to Save Money in a Divorce | Here’s What to Know

One of the most complex aspects of a divorce is dividing assets. If you’re looking to save money in your divorce, as all spouses are, you should continue reading and reach out to an experienced Los Angeles divorce attorney from our firm today.

How can I save money during my divorce?

Fortunately, there are various ways in which a spouse can save money during the divorce process. If you’re getting divorced, you should take the following steps:

  • Take stock of what you have. Once you are committed to getting a divorce, you should immediately assess everything you 0wn. This can include what’s in your bank account, separate property you own that won’t be divided in a divorce, retirement assets, and more. You should also take stock of your monthly bills and position yourself to adapt your spending habits for after you only have access to one paycheck.
  • Consider involving a forensic accountant in your divorce. If you’re a high net worth individual or your spouse is, you should consider hiring a forensic accountant who can assess exactly how much you and your spouse own, as well as what you may be entitled to. A forensic accountant is a great tool for divorcing spouses to get the bigger picture of their financial situation.
  • Consider downsizing to a smaller home. Your home is most likely your most sentimental, and valuable asset. For this reason, many spouses who get divorced are bent on keeping their homes. However, oftentimes, it’s best to either sell the home and split the profits, or to simply let your spouse keep the home and downsize, especially if making regular mortgage payments, as well as other payments associated with the upkeep of a home, on your own.
  • Don’t hide your assets. When spouses get divorced, they are often tempted to hide assets in an effort to save money. This is always a bad idea. Hiding assets from a divorce is illegal, and when someone is caught doing so, it will almost always negatively impact the equitable distribution process.
  • Have a competent Los Angeles divorce attorney in your corner. The best line of defense in any divorce is hiring experienced and skilled legal counsel. Our firm can fight for you and your hard-earned assets through every step of the process ahead.

Contact our experienced Los Angeles firm

Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.

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