If you are going through a divorce, then you are probably looking for ways to reduce the cost. For example, you probably know that you can reduce your divorce costs by using your attorney's time for necessary (read legal) purposes only. However, there is one arsenal that you probably haven't thought about—honesty. Here is how honesty will lower your divorce costs:
It May Eliminate the Need for Private Investigations
Imagine a situation in which both you and your partner bring all your cards to the table. This means availing documentation for your respective shares and stocks, bank accounts and real estate properties. If you are convinced that you know your partner's true financial situation, then you may not feel the need to hire a private investigator to dig up this information.
With private investigators (PIs) charging an average of 50 and 100 dollars per hours, you can imagine how much you will pay for several days of work. If you are honest, you may not pay much even if you hire an investigator. This is because your respective PIs will not get any leads and stop the investigation.
It May Lead to Lengthy Mediation
A lengthy divorce is likely to be costlier than a short one. Your lawyers (like those at Haslam & Perri LLP) shouldn't have to question every claim each side makes. If that is the case, then the mediation can drag on forever, thereby increasing your lawyer's fees.
Even lies of omission should be avoided. For example, hiding your infidelity from your lawyer is a mistake because he or she will not be prepared for it. The issue will take a shorter time to discuss if you bring it out in the open early enough.
It May Lead to Litigation
A litigated divorce is much more expensive than a mediated one. Mediation may cost around $500 - $3,000 while litigation usually ranges from $15,000 to $30,000. The more you keep lying to each other, the more you will lose faith in the mediation process. In fact, too much lying can result in a standoff that each party believes can only be unlocked by going to court. This means adding litigation costs to the failed mitigations costs—a costly result.
As you can see, you stand to gain a lot by being honest. On top of these cost savings, you will also make your divorce less acrimonious and gain the respect of your partner. Therefore, if you have decided to divorce, get a lawyer and be honest with him or her.