Concern about the financial aftermath of divorce is natural. Many people spend a lot of time fretting about things like child custody, child support, and potential alimony payments.
Divorce can be expensive in both time and money. However, not only is the aftermath of divorce expensive with potential payments and property loss, the actual process of divorce can be expensive as well. According to Forbes Magazine, one of the best ways to save money on a divorce is to get a collaborative divorce.
What is a collaborative divorce?
A collaborative divorce takes place in a conference room rather than a courtroom. With a collaborative divorce, both ex-spouses will have their own lawyer, but the parties negotiate the end terms rather than having a judge decide them.
Collaborative divorces are much less expensive because you greatly cut down on the amount of legal personnel involved in the process. However, in order for collaborative divorce to be effective, both you and your ex-spouse must be willing to compromise on terms. If you cannot stand to be in the same room together, a trial divorce may be the only option.
How else can I save money?
As divorce is largely a financial transaction, having your assets in order prior to contacting a divorce lawyer will save a lot of money. Lawyers spend many billable hours organizing and locating assets. Additionally, contacting your divorce lawyer through email rather than on the phone saves time and money. It is very easy to get lost in a phone call with your lawyer, while emails are shorter and more succinct to read and reply.