Financial Benefits of an Amicable Divorce

The marriage ended. But a harmonious separation may help preserve assets

An amicable divorce is a bit of a fantasy. After all, there´s a reason the couple decided to get divorced. But the collaboration of the “exes” has many benefits, not just emotional but financial, too.

Cooperation can make a big difference. Instead of each of looking for lenders because of an urgent need of money, you may strategize together and use a pawn shop as a sensible strategy to obtain cash.

What is a collaborative divorce and what are its economic benefits?

A collaborative divorce is not for everyone, but when achieved, it can save you lots of money.

In a collaborative divorce, the spouses, who took the role of business partners during the divorce, must now find a way to dissolve the partnership. It involves dividing the assets equitably, keeping the welfare of everyone involved in mind.

Advantages of a collaborative divorce:

– Reduced legal costs. You may avoid lawyers, and resort to a mediator. And if you do use an attorney, he or she will require fewer hours, since there will be no bitter arguments during appointments.

– Increased possibilities of preserving assets. Instead of the couple fighting over valuables to claim as war trophies, they make joint decisions on what to do with every piece of jewelry, gold item, electronics and gadgets.

– The decision to sell valuable items reached not for emotional reasons such as anger, revenge or burnout.

– The couple can decide, as a team, if they prefer to pawn the items or just to sell them. Pawning can be a temporary solution to meet the costs of divorce; selling may be a way to get money for each to start a new life. Remember, everything either of you bought or earned during the marriage is a marital asset. So if you are both in agreement that you would rather pawn or sell it, it´s going to be much easier. Both of you should sign the pawn/sell documents so that there is a record that this was a joint decision. Some items, such as jewelry and gold, may hold financial value, but the sentimental value will be gone when the marriage is over? So why not pawn?

– If you do decide to pawn some items, you´ll be able to focus on a plan to recover them. Using a reputable pawn shop is preferable that selling your items at a loss at shady locales. You may research what the best pawn shop in San Diego is, and take your business there. Have you considered checking CashCo out? CashCo has been voted as the #1 pawn shop in San Diego by the community and customers. CashCo lends the most money -hands down and is the most trusted pawn shop in San Diego. Moreover, all transactions are confidential, so don´t worry about former in-laws finding out what the two of you did with grandma´s earrings! We buy gold too.

-Having the economic issue resolved reduces stress, which helps children better cope with the transition. Some couples decide to sell their marriage mementos, such as jewelry and gold gifts, and add the proceeds to their children´s college funds. Seems like a fair way to get some good out of the situation, right?

What to do with the house?

From the psychological standpoint, the rule of thumb is that children remain in the place they lived in during the marriage, but this is not always the best from a financial perspective.

Now there will be two homes to deal with: two mortgages/rent payments, two HOAs, two gas and electric bills. These double expenses will have an impact the quality of life of both parties.

The final amount you´ll receive from a property sale is affected by several elements. You´ll need to research the following:

  • What´s its current market value?
  • How much have you already paid for the property and how much you owe? (Interest and principal)
  • What were similar properties in your area sold for recently?
  • How long did it take for those properties to sell?
  • Does your property require repairs? What´s their estimated cost?
  • Who has the legal title to the property?
  • Is the current real-estate market favorable for sellers?

Once you figure all of these, you´ll have three options:

  • One party may sell its share of the property to the other
  • Continue making house payments and keep the house as an asset for the children
  • Selling the place and sharing the profits

If you decide on not selling the place:

  • Establish a legally binding agreement regarding who´s responsible for covering maintenance costs
  • Remember that upkeep is vital to protect the property´s value
  • Consider how you are going to cover maintenance and repair expenses

Couples therapy, at this point?

I would seem odd to visit a couple´s counselor at this time. However, therapy can help reach agreements regarding the distribution of goods and long term responsibilities

At the end of the day, the tranquility offered by the friendly divorce will enable both parties to make better decisions about what to do with common goods and household items. You can maximize the benefit of tools such as selling gold or valuables at CashCo.

The goal of this blog post is to offer suggestions, advice and a different perspective to a collaborative divorce. We do not support or oppose divorces, but they are a fact of life. We want our customers to know that we are here for you and want to share financial options that may be beneficial in different life situations. We have three pawn shop locations near you and are available to assist in evaluating your items and appraising your assets.

If you are looking for fast cash to get out of any bind or situation with this whole divorce thing, get your 1st pawn free of interest and receive an additional 10% boost of cash (because you deserve it).

Looking to get a quote on any item to pawn or sell?

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CashCo Pawn Shop and any third parties or individuals appearing in this article are not specifically recommending any particular financial product or service. The information shown is for illustrative purposes only and is not intended as financial, legal or tax planning advice. Unless specifically identified as such, the individuals interviewed or otherwise listed in this piece are neither clients, employees nor affiliates of CashCo Pawn and the views expressed are their own. Please consult a financial adviser, attorney or tax specialist for advice specific to your financial situation.Promotions are subject to change without notice, conditions apply, check with the store for participation rules.