How can collaborative divorce help me save money?

With the myriad of concerns that go into an average divorce, many forget one of the most practical concerns: money. Child support and alimony are common issues, but the actual divorce process itself may be very expensive, as well.

Fortunately, there are ways to reduce the cost of an average divorce. According to Forbes Magazine, a great way to make your divorce cheaper and faster is to choose a collaborative divorce.

What is a collaborative divorce?

If when you think about divorce you think about a courtroom, you are picturing a trial divorce. Trial divorces often require a lot of legal professionals, like lawyers, judges, paralegals and legal aids. All of these professionals will drive up the overall cost of the divorce.

With a collaborative divorce, typically both parties have their own lawyers and these are the only professionals involved with the process. Instead of a courtroom, everybody will meet in a conference room and compromise on the divorce terms. Not only can this make divorce cheaper and faster, but you also get more of a personal say in the deliberation since you are mediating rather than litigating terms.

Should everybody get a collaborative divorce?

Depending on the circumstances, collaborative divorce is not always possible. In order for collaborative divorce to bear fruit, both parties must commit to an equitable outcome. If one or both parties are trying to “get all they can” out of the other party, then collaboration will not work.

Additionally, if you worry that your ex-spouse will bully you out of your fair share of assets, collaboration is probably not the best option