Being divorced is no longer a social outrage. In fact, statistics show that marriages are dissolved at an ever increasing rate. Meeting somebody that has been married and divorced several time is also no longer strange phenomenon. However, even though divorces have become so common, they still cause hurt, bitterness and anger. There are many issues that needs consideration before divorces are granted and the entire process can become very traumatic and expensive. In some cases divorcing couples even need to apply for divorce financing.
The vast majority of people will quickly find out that they will be poorer after the separation. Savings, assets and investments that took years to accumulate may have to be liquidated in a hurry, often at a loss. Then there is the cost of hiring an attorney or often even two attorneys. These legal representatives charge extremely high fees and can cause the process to drag on for a long time.
If divorcing couples are reasonable, fair and willing to negotiate in good faith, they can do much to lower the cost of the process. If they can, for example, reach agreement on the division of their assets, custody matters and maintenance issues then they do not need lawyers to negotiate with other lawyers on these matters. Every minute that a lawyer spend on a case is charged. In an uncontested case only one lawyer is necessary.
Contested cases are almost always extremely expensive. In these cases the partners simply cannot agree on key matters and they therefore hire lawyers to negotiate on their behalf. This can be a lengthy process and each partner will have to pay for every minute that the lawyer spends on the case. The cost escalates considerably when the lawyer has to appear in court to ask the judge to make the final decisions.
Couples that find that they do not have the money necessary to finance their divorces may have to resort to applying for loans specially meant for this purpose. There are numerous financiers that will finance divorces, but they charge hefty service fees and their terms and conditions can be very strict. In fact, such financing can easily leave both partners financially crippled.
Experts advise that a better solution would be to liquidate or sell some assets in order to pay for divorces. Borrowing money from a fixed deposit or a pension fund will not be as expensive as loans obtained from instant financiers. It is better to lose a luxury asset such as a holiday home or a boat than to pay exorbitant rates to pay back a loan.
Many couples enter into prenuptial agreements before they get married. Such agreements can also help to lessen the cost of divorces because most of the main areas that are normally contested will already be decided contractually. It is also possible to purchase special insurance that is designed to cover the legal cost of both partners during their marriage. This often include the cost of divorcing.
Divorcing can certainly be a traumatic and emotional experience. Sensible couples will realize, however, that there is no need to cripple both partners financially in the process. Much money can be saved by negotiating in good faith and by being reasonable. A therapist can help couples overcome their negative feelings and to act sensibly.
The vast majority of people will quickly find out that they will be poorer after the separation. Savings, assets and investments that took years to accumulate may have to be liquidated in a hurry, often at a loss. Then there is the cost of hiring an attorney or often even two attorneys. These legal representatives charge extremely high fees and can cause the process to drag on for a long time.
If divorcing couples are reasonable, fair and willing to negotiate in good faith, they can do much to lower the cost of the process. If they can, for example, reach agreement on the division of their assets, custody matters and maintenance issues then they do not need lawyers to negotiate with other lawyers on these matters. Every minute that a lawyer spend on a case is charged. In an uncontested case only one lawyer is necessary.
Contested cases are almost always extremely expensive. In these cases the partners simply cannot agree on key matters and they therefore hire lawyers to negotiate on their behalf. This can be a lengthy process and each partner will have to pay for every minute that the lawyer spends on the case. The cost escalates considerably when the lawyer has to appear in court to ask the judge to make the final decisions.
Couples that find that they do not have the money necessary to finance their divorces may have to resort to applying for loans specially meant for this purpose. There are numerous financiers that will finance divorces, but they charge hefty service fees and their terms and conditions can be very strict. In fact, such financing can easily leave both partners financially crippled.
Experts advise that a better solution would be to liquidate or sell some assets in order to pay for divorces. Borrowing money from a fixed deposit or a pension fund will not be as expensive as loans obtained from instant financiers. It is better to lose a luxury asset such as a holiday home or a boat than to pay exorbitant rates to pay back a loan.
Many couples enter into prenuptial agreements before they get married. Such agreements can also help to lessen the cost of divorces because most of the main areas that are normally contested will already be decided contractually. It is also possible to purchase special insurance that is designed to cover the legal cost of both partners during their marriage. This often include the cost of divorcing.
Divorcing can certainly be a traumatic and emotional experience. Sensible couples will realize, however, that there is no need to cripple both partners financially in the process. Much money can be saved by negotiating in good faith and by being reasonable. A therapist can help couples overcome their negative feelings and to act sensibly.
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