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5 ways mediation can help reduce the cost of your divorce

Raising children is an indescribable joy. That joy spans from the precious moments, like when they give you a tight hug and an "I love you" for no reason at all, to the proud moments, like when they learn to tie their shoes or score a goal in their first big game.

Of course, you would laugh at anyone who told you it was easy. Protecting and providing for children takes a significant amount of care, concern, time, effort and, yes, money. Even when you want a divorce, the thought of spending anywhere from $10,000 to $30,000 to fight over how you will divide your assets can cause anxiety. You may find the prospect downright frightening.

Does divorce have to be this way? No.

Mediation helps reduce costs, directly and indirectly

One of the biggest misconceptions about divorce is that it is expensive - or has to be. Mediation is one of the best ways to save money on a divorce and keep your share of the marital assets intact.

How does mediation help you save money?

  1. You are not required to pay for two attorneys: In mediation, a third-party neutral facilitates the discussion between spouses. You can still capitalize on the benefit of strong, knowledgeable legal guidance when you choose a law firm with mediators who are also experienced attorneys.
  2. You stay out of the courtroom: Going to court costs money. You pay filing fees and other court costs. You must also pay for your attorney's time, including the time they spend preparing for each hearing. Hourly rates can range anywhere from $150 to $1,000. Remember, you pay hourly rates for two attorneys when you litigate a divorce.
  3. You choose when to seek expert advice: A court may appoint a law guardian for custody issues, require that you obtain an appraisal for your home or require a financial forensic expert to trace assets - and you have to pay for their services. In mediation, you decide when it is necessary to bring an expert to the table.
  4. You control the process: In mediation, you set your own priorities, decide which compromises you are willing to make and work with your spouse to find the best solution possible for your financial future - and you can be creative.
  5. You can reduce the length of your divorce: Litigation takes time. You may need multiple court hearings to prepare discovery, present your argument, draft documents, submit documents for approval and wait on a decision - all of which are dependent on a judge's busy schedule. It can take weeks or even months to resolve a single issue. In mediation, you choose when it is convenient for you to meet and which issues you want to cover in each session.

Visit our website to learn more about mediation, and determine whether it may be the right choice for you and your family.

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