Divorce is often very expensive. Many people focus on the costs associated with the aftermath of divorce, such as property division, child support, and alimony. However, even though these expenses are well-known, many people overlook the actual cost of the divorce process itself.
If you happen to hold any expensive assets, the process of divorce can potentially cost tens of thousands of dollars. However, there are some ways to decrease the cost. According to Forbes Magazine, having a collaborative or mediated divorce is less expensive than a trial divorce.
What are the different kinds of divorce?
Trial divorce is the most “traditional” variety of divorce. This sort of divorce requires multiple lawyers and judges to make decisions on how the court will divide assets. The reason this version is the most expensive is due to the high amount of personnel involved.
On the other hand, collaborative and mediated divorces do not necessarily take place in a courtroom. In a collaborative divorce, both parties have their own lawyer but they negotiate divorce terms across a conference table. A mediated divorce is similar, but many mediated divorces either only have one lawyer involved for both parties or no lawyers at all.
Essentially, if you are able to negotiate with your ex-spouse about the outcome of the divorce rather than have a judge decide it for you, you will save money.
How else can I save?
Many lawyers spend hundreds of billable hours tracking down and documenting their clients’ assets. If you can approach your divorce lawyer with your assets all in order, the cost of the divorce goes down dramatically.
Additionally, contacting your lawyer through email is quicker and less expensive than having them on the phone.