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A divorce does not need to drain one financially

Just as planning a wedding can put a strain on a couple's finances, the end of a marriage can take an even greater toll. A divorce does not necessarily have to drain one's financial resources completely. Colorado residents who are contemplating this step can take cost-saving measures. 

Depending on a couple's circumstances, a divorce can take many months and cost thousands of dollars. Fortunately, not every situation is the same, and there are steps one can take to reduce a portion of these costs. The first is of which is to carefully consider whether one can approach a dissolution through the use of mediators using a collaborative divorce method. In these scenarios, divorcing partners retain their own advisors and work on a settlement that can best meet their needs. While this process can reduce expenses and avoid a lengthy court battle, it may not always be feasible when the two parties cannot reach a general accord on the major issues.

If one decides that a more traditional divorce would be best, then it may be beneficial to carefully research who would be the best representative. It may also be helpful to inquire up front as to the fee schedule and hourly rates. One can save both time and money by compiling important information on one's own, thereby reducing the time required by an attorney.

Lastly, being able to keep the big picture in sight may help one to avoid fighting over all of the minute details that can cause bickering. Children will also fare better if their parents can reach an accord over issues the will directly impact them. If one keeps in mind that his or her divorce is unique, it may provide the freedom to focus on what matters most to the individual during the process. Colorado residents may be best served by consulting with an experienced family law professional throughout this process.

Source: CNBC, "How to get a divorce without going broke", Lorie Konish, May 10, 2018

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