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Avoid these common divorce mistakes to save money

Divorce filings spike after the holidays by as much as 25 to 30 percent, according to the American Academy of Matrimonial Lawyers' president. Not only do holidays tend to bring forth a lot of emotional issues and tension, it can also bring about a lot of financial issues.

No matter when you file for divorce, though, there are some common mistakes you should avoid, some of which can cost you money. Avoid filing during the holiday season, especially if you have children. It can make it difficult for children to enjoy the holiday for many years to come.

Avoid escalating the divorce to an all out war. Not only will this help save you money -- it's more expensive to litigate a divorce -- but dealing with the stress of an acrimonious breakup can be difficult.

Find all the financial documents you can. If you can gather the documents on the house, credit cards, automobiles, bank accounts and more, then your attorney won't have to subpoena that information. This can add up to a significant savings.

Avoid rushing to choose your attorney. While you might hear that one attorney is a terrific divorce attorney, he or she may not be a terrific divorce attorney for you. It's best to interview a few and see which one you feel will listen to you the best and will help you do what you want.

There are many things to consider before filing for divorce. Saving money should be one concern, as your finances after divorce can certainly take a hit.

Source: MarketWatch, "These common mistakes could double or even triple the cost of your divorce," Quentin Fottrell, Dec. 29, 2016

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