Collaborative Divorce Can Save Money

Splitting up a marriage is one of the most stressful events a person can endure. But some couples are opting to forgo the traditional divorce process -- which can be expensive and painful -- and trying something called collaborative divorce.

Lawyers say it's a fairly new process in which the parties agree to NOT litigate. Neither party files for divorce until they have a settlement completely worked out.

"They sign an agreement that they're not going to take their issues to litigation," says divorce lawyer Amy Schimalla. "They're committed to settling their case, sitting in a four-way conference with their attorneys and working it through."

The emphasis on cooperation keeps fighting to a minimum.

Financial planner Jody D'agostini believes that collaborative divorce works well when the couple still trusts each other.

"The whole process is more give and take. It's not an 'I win, you lose' kind of thing," D'agostini says. "We're cooperating. You're showing a little more understanding for the other side, a little more compassion for the other side."

Since there is no litigation process, it is also a far cheaper alternative for couples looking to split up.