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Saving money on divorce

On Behalf of | Jul 8, 2020 | Firm News |

There is no doubt that divorce is an expensive emotional investment, but it can also be high in monetary costs, as well. Many people worry about expenses related to the aftermath of divorce, like property division, child support or alimony.

However, it is possible for the actual divorce itself to cost tens of thousands of dollars. Fortunately, there are ways to alleviate these expenses. According to Forbes magazine, opting for a collaborative divorce can save a lot of money and time.

What is a collaborative divorce?

Collaborative divorces and trial divorces are very different. In a trial divorce, an impartial judge will end up making the final decisions on property division after a divorce and who gets custody of children. This can end up being very expensive, as the process often involves multiple lawyers, judges, paralegals and legal aides.

In a collaborative divorce, typically both parties have their own lawyer but they meet across a conference table to discuss the divorce and work out terms. Collaborative divorces save a lot of money because it cuts the number of required legal personnel down considerably. Plus, collaborative divorces often give the participants more say in the actual divorce terms.

Are there any negatives?

Often, collaborative divorce depends on how well the ex-spouses can work together. If you and your ex-spouse cannot be in the same room together without an argument, it is unlikely that collaborative divorce is a realistic option. In order for collaborative divorce to be a reality, the parties must be willing and able to collaborate with the help of seasoned professionals. Otherwise, a trial divorce may be the only realistic option.