Property Settlements: Discover the practical tips that will help you save money
Madsen Law has specialised in Family Law for over 20 years. We know Property Settlements can be emotionally charged and financially draining, but there are some very practical things you can do to streamline the process. With over 20 years of specialised experience and knowledge we have put together a couple helpful tips to consider that will save you money during your property settlement.
Be Prepared for Disclosure: Disclosure is a key part of the property settlement process, where all financial information is exchanged. To save money, gather and organize your documents before handing it to your lawyer. This includes bank statements (checking, savings, investment accounts) with clear labels indicating the account type and holder(s). By doing this legwork yourself, you avoid paying for a staff member to compile this information.
Focus on Amicable Negotiations: Whenever possible, aim for respectful and open communication with your ex-partner. Focus on keeping discussions factual. Reaching agreements on even smaller points outside of lawyer involvement can significantly reduce overall costs.
Communicate Clearly and Effectively: To avoid unnecessary legal fees, respond promptly to your lawyer’s requests and emails. Gather your questions and concerns and address them all at once instead of sending piecemeal information. This allows your lawyer to be more efficient with your time.
Understand Your Lawyer’s Billing Structure: Discuss fee structures upfront with your lawyer. Most lawyers bill time, so the more efficient you are, the less you’ll pay. Come prepared with organized documents and clear questions to maximize your time together.
Bonus Tip: Choose a Cost-Conscious Lawyer: Look for a lawyer who shares your focus on cost-effectiveness. Unfortunately, it seems like some lawyers avoid getting to point to incur further costs to the clients by huge letters and unrealistic proposals. Madsen Law believes that great results and being cost efficient with the client’s funds should always work together.
By following these tips and seeking legal guidance, you can navigate your property settlement efficiently and minimize financial stress. Remember, a successful settlement is one that is fair, cost-effective, and allows you to move forward with a brighter future.
