Unless your name is Kim Kardashian, divorce can have a significant impact on your life--both emotionally and financially.
Often times it seems as though society focuses on the financial aspect without ever addressing the emotional. But studies have shown that dealing with your feelings will make your post-divorce life easier.
What if it could also make your divorce less costly? It can, because it paves the way for a collaborative divorce.
A collaborative divorce is an amicable negotiation. Instead of going through the courts, both parties voluntarily provide financial information. With the help of attorneys, they come to a mutual asset and childcare agreement. Parties who are in complete agreement can also often hire only one lawyer.
If there is a lot of tension, vitriol and anger, this won't work. Divorcing couples often use money (and the kids) as a way to lash out and make the other party suffer. It becomes about revenge and control instead of ending a non-working marriage.
These sorts of divorces end up in litigation, which can cost up to $150,000. A collaborative divorce comes in at a more reasonable $15,000, according to the International Academy of Collaborative Professionals.
If you see yourself going down this path, give divorce counseling a try--even if you don't have kids. It can help you release some of the anger and open the lines of communication. It can help you reset your priorities.
And hopefully, it can help you have a somewhat happy, cheaper and collaborative divorce.