Going through a divorce is always an incredibly challenging emotional situation. While it can be very stressful and difficult, the cost of a divorce can be significant. There are many different expenses that you will incur as a result of filing for divorce, many of which can be avoided and reduced if everything is handled amicably.
The first cost that you will incur when filing for divorce are the filing fees. While they vary from one state to the next, these costs are relatively small. The cost of filing the proper paperwork will cost around $200, but you will also have to spend additional money to have documents prepared, notarized, and legally delivered. In all, this part of the process should cost no more than $500.
Prior to starting the process of filing for a lawsuit, it would be wise to pay for a full legal consultation. A legal consultation will provide you with more information about what the divorce process will be like, what a likely settlement or judgment will be, and what the process will cost. A legal consultation may cost a few hundreds dollars up front, but the charge is often waived if you retain the law firm for legal representation.
When going through a divorce, hiring an attorney that is experienced in divorce law is very important. The cost of your legal support will vary considerably from one case to the next. Ideally, the divorce will be amicable and it will be easy to come to a settlement without going through the court process. If this is the case for you, the costs of legal representation will be relatively cheap. However, if the case cannot be handled outside of court, it can end up being far more expensive and challenging due to the amount of time that your legal team will need to work. Most legal teams are well aware of the excess cost that goes into a lengthier process and will work to reduce costs as much as possible.
If the judgment in court does not go the way you want, you will still have the opportunity to appeal any judgment. This process can end up taking a lot more time and will end up increasing your total legal costs. Further, you could end up being held responsible for the other party’s legal costs if you lose the appeal.
Alimony / Child Care
During the divorce process a lot of the negotiations will revolve around the payment of child support and alimony. The amount of money that you spend on this will vary based on a variety of factors including your current income, number and age of your kids, and your spouse’s standard of living. In many cases the cost of alimony and child care will be thousands of dollars per month and is often required to be paid until the kids are at least 19 years of age.
Moving and Living Expenses
Another cost that people will have to incur when getting divorced are moving and new living expenses. During the divorce process at least one person will have to move out of their home and into a new place. This will result in the cost of moving, buying new furniture, and paying for a new mortgage or rent.
In conclusion, the divorce process can be a stressful time and financially expensive. There are a variety of expenses that are inevitable, but can be reduced through proper planning. It would be a good idea for all people to properly consult with professionals to get an idea of what the true cost of their divorce will be.