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Can a collaborative approach minimize your divorce costs?

All in love may be fair, but the inverse is not necessarily true. Indeed, when a couple has decided to officially end their marriage with a divorce, it may take an experienced family law firm to ensure that fairness prevails.

Our law firm often encourages both parties to approach a divorce with a spirit of cooperation. In fact, we have training in collaborative law, which can prove effective in diffusing potentially heated arguments. When children are involved, especially, a calm and rational approach to issues of property division, child custody, spousal or child support, and other matters can be more productive than involving the court.  

In some of these areas, the law offers guidance. Specifically, Kentucky has laws that establish a predetermined formula for calculating each parent’s child support obligation. The calculation includes many variables, including each parent’s income and financial health as determined by tax returns, bank account reports, and any other relevant evidence.

Alimony, in contrast, is not so straightforward. Rather than a formula, the court will endeavor to determine an equitable arrangement based on any disparity in each spouse’s income, the length of the marriage, special considerations such as medical needs, and the ability of the spouse requesting alimony to earn his or her own income.

Finally, we encourage our clients to adopt a bigger picture than any single dispute that may arise. For example, Kentucky is an equitable distribution state, which means that courts will endeavor to reach a fair property division, if not exactly equal. Sometimes it may make sense for one spouse to keep the family house, as in a custodial parent situation. Approaching asset division and other issues with that bigger picture in mind can make a divorce go smoother.

Source: Forbes, “5 Things To Keep In Mind When Negotiating A Prenup,” Ginger Dean, April 4, 2016

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