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How can I save money on my divorce?

On Behalf of | Jul 1, 2020 | Divorce

There is much to say about the emotional effects of divorce, but the financial effects can be just as devastating. Many people focus on the costs that come into play after divorce, such as alimony and child support payments. However, this ignores that a divorce on its own can be extremely expensive.

Fortunately, there are some strategies you can take to lessen the cost of divorce. According to Forbes Magazine, having a collaborative divorce can potentially save thousands of dollars.

What is a collaborative divorce?

There are many forms of collaborative divorce, but the most common variety involves each party having their own lawyer and discussing the terms of the divorce with each other over a conference table. This saves a lot of money because it cuts down the amount of time and additional legal professionals involved in the divorce process.

The most “traditional” form of divorce is a trial divorce. Trial divorces can take months and may require an army of lawyers, paralegal, judges, and aides to complete. If you only need two lawyers and some negotiating time for your divorce, this can save thousands.

Are there any downsides to collaborative divorce?

In order to have a fruitful collaborative divorce, you need to be able to compromise with your ex-spouse. In some situations, the ex-spouses cannot agree on anything. If this is the case, then trying a collaborative divorce will be a waste of time.

Collaborative divorce has the potential to provide a cheaper and less stressful means of dissolving a marriage. However, the parties have to be able to collaborate in order for it to work. In some cases, trial divorce may be the only option.