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How can I save money on my divorce?

Being concerned about saving money during your divorce may seem callous, but it is a very practical and real concern. Many concern themselves with costs associated with child support or alimony, but the divorce process itself can be extremely expensive.

It is important to keep these potential costs in mind. According to Forbes Magazine, a good way to save money and time on your divorce is to choose collaboration.

What is collaborative divorce?

Many people believe that divorce must happen in a courtroom, and this is not true. A collaborative divorce typically takes place across a conference table rather than in a courtroom. Usually, each party will have their own lawyer, and all four individuals will meet to talk about the terms of the divorce. The lawyers help the ex-couple smooth over any issues that come up during the talks.

Collaborative divorces tend to cost less money and take less time as compared to trial divorces. This is because in a collaborative divorce you are mediating the terms rather than litigating them. Another advantage of a collaborative divorce is that you often get more input regarding the divorce terms as compared to leaving everything up to an impartial judge.

What are the negatives?

If you are not on speaking terms with your ex-spouse or the divorce itself is extremely acrimonious, it is unlikely that collaborative divorce will be an option. In order for collaborative divorce to work, both parties must commit to a fair and equitable outcome. If one party is trying to “get all they can” from the other party or if one party intimidates the other party, collaborative divorce is not a good solution.