Many people make the mistake of overlooking the actual monetary cost of divorce. While being wary of potential child support or alimony costs is natural, these are costs associated with the post-divorce situation. The actual divorce process can cost tens of thousands of dollars in certain cases. According to Forbes Magazine, opting for a collaborative divorce can save a lot of money.
Why is divorce so expensive?
Pop culture most commonly portrays trial divorces. Trial divorces require a large amount of legal personnel. It is not uncommon to find multiple lawyers, paralegals, aides, and judges working on a single trial divorce. This long list of legal professionals means that the cost of trial divorce can be extremely high.
A collaborative divorce cuts down on the number of professionals involved in the process. In a typical collaborative divorce, each party has their own lawyer. The parties negotiate the divorce across a conference table rather than have it unfold in a courtroom. Not only will this save you money, but it will also give you more say in the final divorce terms as opposed to having a judge decide everything.
Are there any downsides to collaborative divorce?
In order for a collaborative divorce to work, both parties have to be willing to compromise. If you and your ex-spouse are on very bad terms, it is possible that a trial divorce is the only realistic option.
It is important to do everything you can to save your marriage before resulting to divorce. But if the situation is irreconcilable, coming together to agree on the divorce can save a lot of money.