financial worry

5 Steps to Reduce Financial Worry in Divorce

Divorce is the one thing that no marrying couple will plan or envisage that it will happen to them. However, it is a fact that some of the happy couples taking their vows will one day find their nuptials ending in a divorce.

A divorce is mentally, emotionally and financially draining . The heartbreak causes unnecessary anger, bitterness, pettiness, vindictiveness and even greed. Such unhealthy emotions and conduct often give rise to pecuniary losses as both sides strive to wage a war of s in order to settle “scores” with the other party.

It is wise to remember that the financial repercussions of a divorce are as devastating as the divorce itself. The cost of the divorce can build up over time as both parties “fight it out” and by the time the divorcing couple come to their senses, the court litigation cost has already built up to an enormous amount.

Here are 5 tips to reduce your financial worry in divorce.

1. Make use of a mediation lawyer
In Singapore, you can choose to either use a certified mediator or find a lawyer who is also a mediator. The divorcing couple with the aid of a mediator lawyer spend a day(s) to iron out their issues without going to court to “fight it out”. Choosing a mediation lawyer also means that the cost of the divorce will be reduced significantly.

2. Do not let spiteful emotions and bitternes get in the way
If mediation is not a choice for you due to certain circumstances, do your best not to create or engage in a divorce warfare in the courtroom. While contested divorces tend to heat up both parties and stir unpleasant emotions, it is not desirable to go all out to destroy the other party during the divorce. Any form of an accusation made by your divorce lawyer will be answered by the other party, often in the way of another accusation. This to and fro exchange between the divorce lawyers in the courtroom will cost you. It is not worth it if all you are fighting for is for spite and just being bitter.

3. Be honest with your divorce lawyer
If money is an issue, be honest with your divorce lawyer at the beginning. Let them know ahead that you have a budget. While not all law firms have financial help for their clients, you can find an experienced divorce lawyer who is willing to offer some form of financial assistance such as instalment plans or fixed cost plans for their clients. Seek the advice of your family lawyer so that you can fully understand the Singapore divorce process and avoid pitfalls that can result in substantial financial consequences.

4. Protect your assets
In a divorce, it is vital for you to protect your assets. This is especially so if you have been the sole breadwinner in your marriage. Check with an experienced family lawyer to understand the kind of assets you can protect during the divorce.

5. Hire a Divorce Coach
Divorce coaches may sound odd or a taboo in Singapore. However, more and more people have now recognise the need and benefit of having one to aid them in their trying divorce process. As such people have now turned to looking at certified divorce coaches to aid them and also to help lower their cost.

A divorce coach trained lawyer will advise you on the procedures, the documents to prepare and help you to stay level headed through all the legal, financial and emotional challenges that lay ahead. Your coach is there to encourage you and teach you helpful techniques for managing this stressful period of your life.