During a marital breakup, finances can be a big area of conflict and contention. In many long-term marriages, spouses may have accumulated numerous assets and properties, only adding to the complexities of divorce. High-asset divorces are some of the most expensive. However, there are a few ways Kansas residents can save money in a high-asset divorce.
Collaborative divorce
In a collaborative divorce, both spouses each have their own attorney, and all four people meet during several sessions to negotiate, discuss and settle on the terms of the divorce. For a collaborative divorce to be effective, both parties need to be willing to cooperate in good faith to reach mutually-acceptable agreements. Divorcing spouses can save money by going the collaborative divorce route if they can be amicable and work together to resolve their issues.
Mediation
In mediation, spouses meet with a third-party mediator who acts as a neutral to help divorcing parties reach agreements. Mediators may be court-appointed or private. There may be some tense moments in the mediation process. However, if divorcing spouses are willing to communicate and cooperate outside of court, mediation is often an excellent way to keep costs down in a divorce.
Both collaborative divorce and mediation can keep the divorce out of court or greatly reduce the amount of litigation, thus reducing costs. When it comes down to it, divorcing parties will save money if they can cooperate, effectively communicate and keep the end goal in mind. Those in Kansas who are going through a high-asset divorce can obtain much needed guidance by obtaining the services of a skilled and experienced lawyer.
