We've talked before about the economy's effects on both marriage and divorce, and how a couple's finances can lead them to put off divorce. But delaying divorce isn't the only option for cash-strapped couples. In Colorado, divorce mediation is on the rise, allowing divorcing spouses to handle the division of assets and other decisions themselves.

In mediation, couples meet with a third party to work out the details of their divorce instead of hiring individual lawyers or leaving the decisions to a judge. These decisions might include the distribution of assets and property, child support, child custody and spousal support.

Many couples use a mediator as a means to save money and avoid going further into debt, since the cost of mediation tends to be lower than the average court-litigated divorce. The mediator works with both spouses on brainstorming, helping them work through arguments and offering a reality check to those who haven't thought about their financial future beyond the divorce. The negotiating can be done in as many sessions as the couple needs, though the cost goes up the more sessions are required. Another advantage is mediation's confidentiality. Divorce court is public domain, while mediation sessions are between you, your spouse and the mediator.

Statistics suggest that as the economy continues to lag, more Coloradans are working out the details of their divorce on their own. Separation agreements, which are typically drafted by a couple without a lawyer, rose by 12 percent last year, according to the Colorado Judicial Branch.

While mediation can be a good option for couples with minimal animosity, it's not for everyone. Although a mediator can help sort out disagreements and help a couple come up with solutions, he or she is by definition and necessity a neutral party and can't offer advice or advocate for either spouse. The mediator also can't work with a couple unless both parties agree to it. In that case, it may be better for them to each seek out a family law attorney who can serve their own best interests.

Source: Denver Post, "Mediation in divorce on the rise," David Migoya, Jan. 23, 2012