193 – How to get an Affordable Divorce
Debt Free in 30 · Doug Hoyes
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Show Notes
Divorce can be expensive. In my experience, it's also one of the many causes for insolvency. The reason for this is when you are living together, you only have one bill for rent, cable, and utilities, but two incomes. You are in a better position to save money. When you separate, suddenly all these expenses become yours. What's more, if it's not an easy separation and lawyers are involved, it can cost tens of thousands of dollars. It's no small expense and it's often funded through debt.
But, is it possible to have an affordable divorce? Do you need a lawyer for the entire process? What if you're on amicable terms? My guest today suggests there is an alternative to costly divorce: mediation.
Colette Fortin is a mediator with Fairway Divorce Solutions in Kitchener. She helps people who are facing a separation develop a plan for their finances and children, with a focus on reducing cost and saving time. According to Colette, the reason why a traditional divorce can be so expensive is because of how much longer it takes to reach an agreement, so on today's show she explains the alternatives to a costly legal process.