Dividing assets is one of the trickiest parts of a divorce. However, there are numerous methods by which a spouse might save money while going through a divorce. Take the following steps if you're divorcing and want to save money:


Take Stock of Your Assets

When you've decided to obtain a divorce, you should evaluate everything you own right away. This can include your bank account balances, separate property you own, retirement savings and more. You should also take inventory of your monthly costs and prepare to adjust your spending patterns once you just have one salary.


Consider Hiring a Forensic Accountant 

If you or your spouse has a high net worth, you should hire a forensic accountant to determine just how much you and your spouse own, as well as what you may be entitled to.


Think About Downsizing

Most likely, your most sentimental and precious asset is your home. As a result, many divorcing couples are adamant about maintaining their properties. However, if you're making regular mortgage payments and other payments associated with home upkeep on your own, it's often best to either sell the house and split the profits, or simply let your spouse keep the house and downsize.


Don’t Keep Your Assets Hidden

When spouses divorce, they are frequently inclined to hide assets in order to save money. This is never a good idea. It is illegal to hide assets during a divorce, and if someone is detected doing so, it will almost always have a negative influence on the equitable distribution process.


Consult Legal Counsel

Hiring knowledgeable and professional legal counsel is the strongest line of defense in any divorce. A Miami FL divorce attorney will fight for you and your hard-earned assets at every stage of the process.


If you are planning for a divorce, contact a Miami family law lawyer at Rafool, LLC online to schedule an initial consultation at our Miami office.