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Minimizing the cost of divorce

When people decide to get divorce, the cost of having to legally end the marriage is something that they might not think about right away. Some people are incredibly surprised to learn that ending a marriage can end up being a very expensive endeavor. Luckily, there are some ways that our Colorado readers can save money when they are going through a divorce.

One of the best ways that you can save money when you are divorcing is to be reasonable as you negotiate your settlement. By working with your ex to determine how to divide everything, you have a better chance of keeping more of your money instead of spending those funds fighting against your ex.

It is sometimes possible to rack up more debt than what the disputed items are worth. As an example, if you spend thousands of dollars fighting your ex over who will get an item that is only worth $100, you are already upside down because of that item. Instead, you should seriously consider what items are vitally important so you that you can use your available assets to fight for those.

As difficult as it is, working with your ex on child custody matters is another area that can save you a lot of money. Instead of spending your available money fighting your ex over who picks up the kids from school or when the kids can see their grandparents, you can work together and save some cash.

There will almost always be areas of contention during a divorce. If you and your ex can work together through mediation, you will likely be able to walk away from the divorce with a better settlement than you would if you ended up having to drag through a lengthy, tense divorce.

Source: Investment News, "Getting divorced without breaking the bank" Susan Caminiti, Feb. 09, 2015

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