Not every Michigan divorce has to drain your bank account. If you and your ex are both willing, you may be able to work together one last time to end your marriage. If you are able to do so, you may also be able to save considerable money because of your willingness to cooperate.
Per U.S. News and World Report, you may be able to save more for your post-divorce life by opting for something called collaborative divorce. How does collaborative divorce work, and how does it have the potential to save you quite a bit of money?
How collaborative divorce works
Rather than take an adversarial, “us versus them” approach to splitting up, a collaborative divorce, as the name suggests, involves you and your ex coming to an agreement about the same issues you would address through litigation. Most people who engage in collaborative divorces still use lawyers. However, they may use them much less than they would in a courtroom divorce.
How collaborative divorce saves money
Because you often rely less on attorneys during a collaborative divorce, this leads to fewer billable hours and less money out of each of your pockets. You also avoid court fees and related expenses when you choose a collaborative divorce. The fact that this type of divorce requires cooperation may also cut costs, because it may lower the chances of you fighting tooth and nail over every last asset.
Collaborative divorce may not work in all situations. However, if you and your ex are able to make it work, you may both benefit financially because of it.