For many Colorado couples, the desire to divorce is one of the few things that both spouses can agree upon. However, many couples postpone filing for divorce over concerns about the cost associated with the end of their marriage. A wide range of issues can affect the ultimate cost of a divorce, but the manner in which a couple is able to address property division is one factor that can significantly impact the eventual bottom line.
When couples engage in lengthy or highly contentious debate over property division details, the legal fees for both sides can quickly mount. In many cases, angry or embittered spouses can lose sight of reason and logic. Specifically, some spouses fail to realize that by engaging in heated fighting over the division of assets, they are in effect reducing the assets that are able to be divided.
In short, financially savvy spouses understand that reaching a relatively quick and civil agreement on property division terms is the best way to reduce the overall cost of a divorce. Spouses can work toward a positive outcome by attempting to work together in a collaborative manner. When that is not possible, there are still tactics that can ease the process.
One way to reduce the costs associated with property division is to respond to all inquiries and negotiations in a timely manner. The longer a divorce drags on, the more expensive it will become. In addition, taking the time to research and understand the financial ramifications of property division decisions can help spouses make informed decisions. By using these and other tactics to take a proactive approach to the end of a Colorado marriage, spouses can gain a measure of control over the cost of their divorce.
Source: Huffington Post, “How Much Does the Average Divorce Really Cost?” May 30, 2013