Are you going through a divorce and wondering, “How do I reduce the cost of discovery in divorce process?” If so, it is important to first understand the discovery in divorce process. Next, it is essential to consider the common causes for high discovery costs.
At its core “discovery” in divorce process is the process of uncovering financial information that reveals a couple’s complete financial picture. The discovery in divorce process enables both spouses to have access to financial information surrounding assets and debts that were built during the marriage.
At times, one spouse may have a blurry idea of the asset and debts that were accumulated during the marriage. In some cases, one spouse may be unaware of the other spouse’s retirement accounts or credit card balances. In other cases, a spouse may be unaware about the value and debt of assets such as the martial home, or vehicles purchased during the marriage.
Unfortunately, all divorces are not created equally. In some cases, discovery process costs can rise quicker than the U.S. National Debt. For instance, financial information that is not provided may cause:
- Avoidable communication between the parties/attorneys;
- Correspondence requesting missing information;
- Motions that force the other side to provide requesting information;
- Depositions; or
- Subpoenas.
In other words, discovery process costs can cause a divorce’s total expense to balloon. Here are some of the common causes for excessive discovery costs. Understanding these causes can help you to reduce the cost of discovery during divorce.
NOT PROVIDING REQUESTED INFORMATION OR COST OF DISCOVERY IN DIVORCE PROCESS
A spouse’s refusal to provide information is one the biggest causes for high discovery costs in divorce process. At times, one spouse refuses to provide requested financial information. When this happens, the other spouse may be forced to continually communicate with the other side about the missing information.
Failing to provide requested information may cause:
- Unnecessary communications by email;
- Letters or correspondence requesting missing information; and
- Follow up communications.
A Motion to Compel Discovery in divorce may be necessary when communication attempts fail. Consequently, Motions may cause the need for court costs and other litigation expenses. Moreover, motions may result in lawyer fees being awarded.
UNCOVERING SHADY FINANCIAL BEHAVIOR — HOW DO I REDUCE THE COST OF DISCOVERY IN DIVORCE PROCESS?
In some cases, one spouse has engaged in shady financial behavior during the marriage. Possibly one spouse incurred excessive debt that did not benefit the community. In other cases, a spouse may transfer money or assets to unknown accounts. Moreover, assets may be transferred to family or friends.
Uncovering shady financial behavior can quickly increase the cost of divorce discovery. For this reason, it is essential to monitor for shady behavior during the marriage. For instance, shady bank transactions or activity can be detected and eliminated by actively monitoring accounts. Conversely, failing to monitor accounts could result in shady behavior falling under the radar. In turn, the shady behavior could continue for months, or years, until a divorce is filed and discovery during divorce is requested.
Take financial matters into your own hands. In doing so, monitor your accounts during marriage. Additionally, monitor your credit report. Actively engaging in your accounts could greatly reduce the cost of discovery during divorce.
LARGE ESTATES WITH EXTENSIVE ASSETS AND DEBTS
Long marriages with large estates often require greater discovery costs. For instance, longer marriages often involve more accounts, assets, businesses, or debts. In turn, more accounts and assets often increase the time to review documents and accounts.
Get involved with your financial accounts. Gathering as much financial information as possible before divorce will reduce discovery costs. In doing so, a spouse achieves a better understanding of the total financial picture before divorce. Additionally, gathering information enables a spouse to monitor for shady financial behavior. Catching shady behavior before divorce will reduce a divorce’s stress and uncertainty. In doing so, the cost of discovery during divorce will be reduced.
SPEAK WITH THE BEST DIVORCE ATTORNEY IN NEW MEXICO
Do you suspect that a divorce is looming? If so, it is essential to immediately speak with an experienced divorce attorney. The best divorce attorney can help you understand the divorce process. In turn, the seasoned divorce lawyer can also help you understand what financial information is necessary to complete your divorce.
For instance, maybe your marriage was short. If so, limited assets or debts may have been accumulated. The need for discovery in divorce process may be limited in this situation. Additionally, possibly the discovery process can be completed “informally” through email or correspondence.
On the other hand, marriages with extensive assets and debts may require a more extensive and formal discovery in divorce process. For instance, the parties may need to complete formal discovery in divorce such as interrogatories and request for production of documents.
All divorces are created differently. Consequently, the need for discovery in your divorce will vary from the need for discovery with another divorce. Comparing two divorces is like comparing apples and oranges. Accordingly, it is important to speak with a trust and tested divorce attorney. The best divorce lawyer can help you avoid unnecessary discovery process costs.
NEW MEXICO DIVORCE ATTORNEY/LAWYER NEAR ME IN ALBUQUERQUE, NM
Since 2009, Sanchez has handled uncontested divorces all across New Mexico, including: Albuquerque, Santa Fe, Taos, Rio Rancho, Los Lunas/Belen, and Gallup/Grants. For over a decade, Sanchez has also handled contested divorces across New Mexico, including: Albuquerque, Santa Fe, Socorro/Estancia, Rio Rancho, Los Lunas/Belen, and Gallup/Grants. Talk to a tested and the best divorce attorney that knows what they are talking about. Talk to (505) SANCHEZ.
