How can I save money on my divorce?

How can I save money on my divorce?

| Aug 18, 2020 | Divorce |

Divorce is very “expensive” emotionally, but it also can be very expensive monetarily. Some individuals focus only on costs associated with potential alimony payments or child support, but the actual divorce itself can potentially cost thousands of dollars.

However, there are some ways to save money on the divorce process. According to Forbes Magazine, one of the best ways to save money on your divorce is to choose a collaborative divorce.

What is a collaborative divorce?

A collaborative divorce is a way of negotiating the terms of your divorce rather than litigating it. Usually, in a collaborative divorce each party will have their own lawyer but there is no judge. With a collaborative divorce, all parties will meet across a conference table and discuss terms. The lawyers are there to help guide the parties through potential trouble spots. However, ultimately, it is the ex-spouses that make the final decisions on everything that happens in a collaborative divorce.

A trial divorce is often much more expensive because there are many more legal professionals involved with the process. Trial divorces also tend to take longer and can be more stressful.

Should everybody get a collaborative divorce?

Collaborative divorces are often not possible in an extremely acrimonious divorce. If both parties cannot be in the same room together, they will not be able to collaborate. Plus, if you worry that you will not be able to stand up for your needs directly to your ex-spouse, a collaborative divorce may not be a good choice for you.

Collaborative divorces are good for ex-couples who can commit to equitable outcomes.

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