Divorce can be expensive emotionally, but also monetarily. Many people completely overlook the financial difficulties that can come along with divorce, given that the emotional and interpersonal aspects are so intense.
However, in certain circumstances divorce can cost tens of thousands of dollars. Fortunately, there are ways to potentially lower the cost of divorce. According to Forbes Magazine, choosing a collaborative divorce may end up saving thousands of dollars on the process.
What is collaborative divorce?
The most common variety of divorce is trial divorce. This is also the most expensive option for divorce. The reason for this is simple: if you have to have an army of legal personnel involved with every single step of the divorce process, the price goes up.
Collaborative divorce is just that: collaborative. Both parties have their own lawyer, but instead of the divorce taking place in a courtroom, the divorce will take place over a conference table. Collaborative divorce involves both parties taking an active part in shaping what the divorce looks like and negotiating with each other and lawyers to end up with a (hopefully) equitable agreement.
What are the negatives?
Again, collaborative divorce requires collaboration. If you and your ex-spouse cannot sit at the same table together and have a rational conversation, then collaborative divorce is not going to work. Both parties have to be willing to compromise on important aspects such as alimony, child support, and property division. If this is not possible, then trial divorce may be the only realistic option.
However, if you want an equitable outcome for your divorce and your ex-spouse does too, collaborative divorce can save a lot of time, energy, and money.
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