So, What’s the Cost-Benefit Analysis of Divorce?
Most of us have heard of a cost-benefit analysis. If you haven’t, Wikipedia gives a pretty good overview – a cost-benefit analysis “is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings ….A CBA may be used to compare completed or potential courses of actions, or to estimate (or evaluate) the value against the cost of a decision, project, or policy. It is commonly used in commercial transactions, business or policy decisions (particularly public policy), and project investments.”
Can and should a divorce utilize a cost-benefit approach? When dealing with property issues in a divorce - absolutely.
For example, if there is a dispute over a particular item, we’d suggest you think about the value of the item before getting your attorney involved. Try to estimate the value of the item: Is it going to cost you more in attorneys fees to argue over it, versus just replacing it? If so, think long and hard if the costs outweigh the benefits. In some instances, it may make sense to you because of sentimental value or emotional attachment. Is there another course of action you may consider- such as swapping something you want for something you know your spouse really wants? Can this dispute turn into a negotiation? At the end of the day, you determine what is important to you, but sometimes it helps to step back a moment and take emotion out of the equation.
Which leads to another issue that comes up often, and that is thinking emotionally versus rationally. Divorce will likely be one of the hardest times in your entire life and is a time when emotions run high. It takes extreme discipline and self-control to start thinking with your business hat; when you’re emotional this is hard to do (which is probably one of the reasons why you’ve hired an attorney to assist you in dividing property in your divorce). Your spouse probably knows exactly how to push your buttons, right?
