Most people know that the aftermath of divorce can be expensive. For instance, the cost of alimony and child support cause a lot of hand-wringing. However, it is also necessary to consider the cost of the divorce process itself.
Depending on your situation, your divorce may cost tens of thousands of dollars. However, there are many ways to mitigate these costs. According to Forbes Magazine, collaborative divorce is less expensive than trial divorce.
What is collaborative divorce?
Collaborative divorce is a compromise-focused divorce. Traditionally, divorces that go to trial end up costing so much due to the high number of legal personnel involved. If every single issue becomes a court battle that requires a team of lawyers and a judge, this makes the process much more expensive.
In a collaborative divorce, both parties have their own lawyer, but these two lawyers and the two parties will meet to negotiate terms. Not only will collaborative divorce save you money, it also gives you the chance to make your divorce more personalized. With collaborative divorce, you and your ex-spouse will be able to agree upon terms rather than having an impartial judge make the decision.
Are there other options?
Collaborative divorce is good for ex-couples who agree upon most things but just need a little bit of extra legal advice to get through the process. If you and your ex-spouse agree on everything and there are no sticking points, you may be able to do a mediated divorce. In a mediated divorce, both parties talk with a mediating agent (who may be a lawyer or may not be) and sign the paperwork that way.