When people think about the expenses associated with divorce, often their mind will skip to the expenses that happen after the filing of the paperwork. For instance, child support costs and alimony payments are well-known. However, it is important to remember that the process of divorce itself can also be extremely expensive.
Depending on the assets involved with a divorce, the divorce itself can end up costing tens of thousands of dollars. Despite this, there are ways to save money on the process. According to Forbes Magazine, going with a collaborative divorce rather than a trial divorce can save a lot of money.
What is a collaborative divorce?
The most common variety of divorce in the popular imagination is a trial divorce. In a trial divorce, multiple lawyers and judges will outline and decide every term of the divorce. This is the most expensive variety of divorce because of the large amount of personnel involved with it.
On the other hand, in a collaborative divorce both parties have independent representation through lawyers, but they meet to discuss the terms of the divorce across a conference table rather than in the courtroom. Since this approach cuts down on middlemen, the savings can be significant.
What are the downsides?
The potential problem with a collaborative divorce is in its name: a collaborative divorce requires collaboration. This means that if the parties involved cannot be in the same room together and speak civilly, a collaborative divorce will be a waste of time.
Collaborative divorces are good options for ex-couples who both want to leave the divorce on equitable terms. If one or the other party is trying to “get all they can,” then collaboration will not work.
What is collaborative divorce?