Whether someone lives in the Indianapolis community or elsewhere in Indiana, deciding to divorce is rarely easy. However, the process can be smoother if it’s entered into with a plan.
Putting emotions aside and making calm, rational decisions during a divorce is easier said than done. However, such an approach can support favorable financial outcomes and ease healing.
Calculating the true cost of divorce
Much has been written about the emotional and financial cost of divorcing. However, few people realize that decisions can impact the financial outcome before beginning the process.
Some expenses after a divorce are expected, such as:
- Child and spousal support
- Health insurance
When such costs aren’t fixed, courts apply a formula to ensure they’re equitably distributed. However, there are ways to mitigate the cost of ending a marriage without adversely affecting the finances of the divorcing couple or their children.
Why taking a process-first approach could be best
Avoiding some undesirable financial aspects of a divorce depends on more than just negotiating an equitable division of assets.
Many people think the first order of business is to prepare for court. They often base their legal representation on recommendations or advertisements without considering the process. That could be a mistake. Exploring mediation, collaborative divorce or, in some cases, arbitration may be a faster, less stressful and less expensive option.
There are situations where these alternative options are inappropriate, including domestic abuse or high levels of conflict that make it impossible for the spouses to negotiate. Some high-asset divorces may also require a more conventional legal process to ensure that assets are distributed equitably.