Two Divorce Options That Could Save You Money

 Posted on April 28, 2016 in Mediation and Collaborative Law

With the bevy of emotions most people face during divorce, finances can easily get neglected. As your relationship is ending, money may be your last priority, but it is important that you keep tabs on your finances to avoid future difficulties. If you decide to divorce, you and your spouse have a few options from which to choose. When most people picture divorce, they think of two aggressive attorneys representing wounded spouses hoping to hurt each other in a long, drawn-out battle. While a litigated divorce may be necessary in some cases, it certainly is not the only option. Litigated divorces are often expensive and emotionally draining. Rather than fighting each other, preserve your wealth through two less aggressive options; mediation and collaborative divorce.

Mediation

Did you know that you and your spouse can choose to work with a neutral, third party divorce mediator who can help you reach the same settlement a litigated divorce would achieve? In mediation, the mediator will work with both parties to discuss any divorce related issues needing attention, and help both parties reach agreeable outcomes. If you and your spouse are capable of working together, mediation can be a faster, more efficient, and significantly less costly method of divorce. Couples can discuss every important divorce matter including:

• Asset division;
• Child custody and parenting time;
• Alimony; and
• Retirement.

Not only is mediation faster and usually less expensive than a litigated divorce, it allows both parties to come to an agreement on their own in private. Additionally, divorce specialists say that when couples work together through mediation, they are more likely to stick to their divorce agreement in the future.

Collaborative Divorce

Another excellent option for couples to consider is a collaborative divorce. Much like mediation, a collaborative divorce allows both parties to reach their own divorce agreement. With collaborative divorce, however, both parties hire their own representation, a trained collaborative divorce attorney, to assist with the negotiation process. Experts such as child custody specialists or accountants can be brought in to further support the negotiations, and both parties typically split the costs of working with these professionals. For conflicted couples, but those who still wish to avoid a courtroom, collaborative divorce is a worthwhile choice to consider. Collaborative divorce provides privacy and can keep the costs of divorce significantly lower than litigation.

Divorce Alternatives to Consider

Couples considering divorce would be wise to look into collaborative or mediative divorce options. Both allow you the freedom to negotiate your own divorce agreement away from judges and courtrooms, and can save you considerable time and money. Of course, couples unable to work together may be forced into a litigated option, but for those willing to work together, alternative methods can work. Additionally, couples with children are encouraged to choose a collaborative or mediative divorce, as both help prepare parents for the coming years of working together as co-parents.

At Pesce Law, P.C., we provide many divorce methods to fit the needs of our clients. We provide mediation and collaborative divorce options, and can help you find a solution to fit your family’s needs. Whether you choose a litigated divorce, collaborative, or mediation, we will work efficiently and effectively to ensure you a beneficial divorce outcome at reasonable costs. Call 630-352-2240 today to learn more about the many services our DuPage county family law attorneys can provide for you.

Source:

http://www.forbes.com/sites/michaelkay/2016/04/12/avoiding-the-financial-pitfalls-of-divorce/