The aftermath of divorce can be very expensive in both time and money. Many people worried about how much child support they may need to pay or how much they will receive. There is also the issue of alimony.
However, many people are unaware of how expensive the actual process of divorce can be. Divorce itself can easily cost tens of thousands of dollars. However, according to Forbes Magazine, having a collaborative divorce can help you save a lot of money.
What is a collaborative divorce?
Collaborative divorce involves far fewer lawyers and general legal personnel compared to trial divorce. In a trial divorce, judges make all of the decisions, and legal teams deliberate over those decisions. Paying all of these experts can drive up the cost of a divorce by quite a bit.
On the other hand, with a collaborative divorce both parties have independent representation through separate lawyers, but instead of a judge deciding everything in the courtroom, the parties negotiate over a converence table. Collaborative divorce involves both parties working through the divorce in a partnership so that both end up with an agreeable outcome.
What are the downsides?
The biggest downside for some couples is that collaborative divorce is not possible unless both parties are on civil terms with each other. Trial divorces usually happen when parties cannot compromise.
Even if you and your ex-spouse have hard feelings towards each other, agreeing to work through a collaborative divorce can save a lot of money. Additionally, it will give you more personal input in the the divorce process. However, if both parties can agree to fixate on an equitable outcome, collaborative divorce has many benefits.