One of the most stressful aspects of divorce is the financial impact it can have. Since your possessions, assets and debts are generally split evenly in a divorce settlement and expenses (like housing) go up, you could end up needing to make up to 30% more each year to keep your standard of living constant. This financial impact can make the emotional pain even worse as you struggle to grieve the loss of your marriage while you worry about your financial future.
Divorce mediation is one way to save money during your divorce and put you in the best possible financial situation in order to move forward. This article will help you understand more.
Financial Cost of Divorce Mediation Versus Litigation
AMS Mediation offers divorce mediation services to couples in the Burnsville, MN area. Amber Serwat uses a client centered approach and pays great care to ensuring that the process is affordable and fair. You can expect to spend on average about $4000 on divorce mediation and this includes a mediator’s fee, filing fee, and legal drafting fee (if applicable). Settling your divorce through litigation costs an average of $15,000 for a couple in the US.
Divorce mediation can also help ensure that the financial decisions made related to your divorce are fair and appropriate for your unique situation. The mediation process empowers you and your divorcing spouse to come to your own solutions for things like division of property, your child custody agreement and the determination of whether child and/or spousal support is necessary. Leaving these important decisions in the hands of the court system can inadvertently create unnecessary financial problems for you and/or your ex and your children. Mediation can also be used after your divorce is final to resolve any issues that unexpectedly come up, again, saving you money by keeping you out of court.
Save Time and Money by Using Mediation to Settle your Divorce
Divorce mediation also takes significantly less time than a court battle, so you can finalize the entire process and move forward with your life more quickly, which also can be positive for you financially. You can expect divorce mediation to require 2-3 two-hour sessions over the course of 6-8 weeks, rather than litigation that can last months or longer.
For more information about the many benefits of divorce mediation and how it can save you money, contact Amber Serwat AMS Mediation by calling 952-252-1492.