The cost of getting divorced in Ireland doesn’t only involve money, it also involves the expenditure of time, stress, emotions, and so many more valuable things. Here are some expert tips to make it more affordable by all means, provided by some of the top Family Law Solicitors in Ireland.
Out of Court Settlements
The quickest and sustainable option to stop a divorce case from draining your savings is to - REACH AN AGREEMENT!
The next best thing is that the couple goes for a whole out of court settlement on their own terms and without involving a solicitor or other legal representative. The divorce can wrap up with a cost of less than €200 for each husband and wife for all the formalities and documentation et al. About 80% of cases in Ireland go with the DIY Divorce process, for obvious reasons.
Consulting Family Law Solicitors in Cork
While the DIY divorce settlement is the most cost-effective, there are several instances when getting to an agreement is not that easy or agreeable for either of the couples. Especially when children and assets are involved.
When an agreement is a far cry, it is advisable to seek the help of a family law attorney as soon as possible. Because, even if you are paying for the service, having this one aid in place can prevent your assets from taking a deeper dip.
There is a middle ground between DIY and full-fledged legal representation if that seems too daunting. Irish Divorce Service, for example, will do some of the legwork for people looking for a less expensive divorce. It charges €349.95 for a DIY Divorce that is self-managed by the client or €499.95 for a fully managed divorce.
How Are Assets And Savings Distributed?
Depending on the type of account you have and who owns it, the process of separating your savings may differ.
Cash ISAs can only be held in the name of one person and not jointly. If you want to give money to your ex-partner from your cash ISA, you must first withdraw the funds from your account. You couldn't transfer funds directly from your own ISA to theirs.
Savings accounts are less complicated, and you could simply transfer funds from your account to your ex- partner's. The only stumbling block might be if the funds are held in an account that requires notice.
Investment Properties also find a spot in the equation is the financial settlement, especially when you want to sell or rent out a buy-to-let property or a vacation home. If you need to remove your or your ex-name partner's from the mortgage, contact your lender. If you believe you will need to remortgage, you should speak with a mortgage broker.
Conclusion
Every divorce case is unique. More often, it also strings along with emotional stress, sadness and confusion. So even if you are legally sound or well versed with the process of getting a divorce settlement for good, it is a sound option to have a legal advisor. As a professional and neutral middleman, they can protect you from making any mistakes and errors in the process that could further complicate matters.
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