Family Law

In its February 2008 issue, Consumer Reports lists and discusses "12 Money Blunders That Could Cost You $1 Million." Coming in at number 3 is: "Launching a divorce war":

3. Launching a divorce war (CR estimated cost: $49,000 to $188,000)

Divorce may be unavoidable sometimes, but spouses can take steps to reduce the
financial impact. Hiring lawyers can ensure everyone's interests are
represented, but the more issues spouses want to slug out, the more billable
hours attorneys can charge. CR's report found that a low-conflict divorce can
generally be mediated for about 75 percent less than using attorneys and going
to trial.

-- CR's Advice:  Because the intensity of the conflict is a major driver of
legal costs, work more toward diplomacy than war, which will increase the
viability of the low-cost mediation option. Try hardest to get along on
custody, often a hot-button issue. Property settlement is a Solomon-like 50-50
split in most states.

SOURCE FOR POST: Reuters.com