Thousands of people across the United States get divorced each year. While these divorces are generally assumed to be expensive in terms of emotional output, many people do not think about the monetary costs of divorce.
The reality is divorce can end up costing tens of thousands of dollars in some cases. If you are looking to save money on the process, it is important to understand your options. According to Forbes magazine, opting for a collaborative divorce can save lots of money.
Why do collaborative divorces save money?
The most expensive variety of divorce is a trial divorce. A trial divorce usually involves a lot of legal personnel, from lawyers to judges. The more legal personnel involved in the divorce, the more expensive that divorce will be. A collaborative divorce greatly cuts down on the number of professionals involved.
In a collaborative divorce, both parties will have their own lawyer, but the divorce takes place across a conference table rather than in a courtroom. The two parties and their lawyers collaborate on all aspects of the divorce, from dividing property, to alimony, to child support and custody.
What are the negatives to collaborative divorce?
Collaborative divorce requires both parties to be willing to compromise. If you and your ex-spouse cannot be in the same room together, it is likely that collaborative divorce will not work for you. The nature of a compromise is that both parties walk away from the table a little bit dissatisfied: if either you or your ex-spouse wants to “get all that you can,” then you will likely need a trial divorce.