There is nothing fun about the divorce process. Not only are you ending a personal relationship with a person you once loved, but many financial questions and concerns will come to the forefront.
It is likely that you will split most or all assets and debts as the result of your divorce. For this reason, you may feel like you are losing a lot of the money you accumulated over the years. From there, you begin to think about the cost of the divorce process. Once again, you realize there is a lot of money coming out of your pocket.
From a financial perspective alone, there are many benefits of divorce mediation. When you add this to other advantages, such as a faster resolution to any problems, it is easy to see why so many are considering this process as opposed to heading for family court.
The divorce process is never easy, as both parties are likely to fight for what they feel they deserve. Feelings of anger and pain can often drive up the cost of divorce, while also leading to many months of back and forth negotiations.
With divorce mediation, there is no time spent in court. Instead, both parties agree to work with a mediator to hash out the final details of the divorce. There are still challenges to take on, but the cost, when compared to the traditional route, is much lower.
If divorce is imminent, don’t necessarily assume you will end up fighting with your ex-spouse in court. Mediation may be able to save you money and time, while also eliminating some stress.
Source: Mediate.com, “Divorcing Couples Can Save A Lot Of Money With Mediation,” accessed May. 19, 2015
