Everybody is aware that divorce is a stressful and often sorrowful experience. However, what many people often do not anticipate is the cost associated with the process of divorce.
Child support payments and alimony might concern you, but the actual legal divorce process can cost a lot of money on its own merit. This is particularly true if it is a high-asset divorce. A great way to save money on the legal process of divorce, as stated in Forbes Magazine, is to choose a collaborative divorce over a trial divorce.
Collaborative divorce: what is it?
Collaborative divorce involves both divorcing parties talking to each other about what they want out of the divorce and negotiating the terms. It is a good choice for divorcing couples who, despite the divorce, genuinely want the best outcome for both parties.
Collaborative divorce requires that both parties sit down and talk about assets and other issues like child custody and property division. Typically, both parties will have their own lawyer to help them ensure a positive outcome and give legal advice. However, it is the divorcing couple that works out the terms for the most part, with as little interference from the lawyers as possible.
How does this save money?
Trial divorces can last for months and often require the services of many different professionals. An average trial divorce may involve multiple judges, paralegals and other support staff. The more people involved in your divorce, the more costly the divorce is.
Collaborative divorce helps keep the number of professionals involved to a minimum. This can save thousands of dollars in the long run.
