Why Do People Say Divorce Is Expensive?
Sharing with friends and family that you are planning divorce can prompt a range of responses. Some will be surprised, others may feel it is time as they have helped you through a trying period in your marriage. But another thing that may come up is that divorce can be expensive. If someone in your social circle has gone through a divorce, they may let you know that marriage dissolution can be expensive, but it is important to note that there are options, depending on your situation.
Understanding why divorce can be expensive can help you to adjust as needed, whether that means budgeting to pay for a dispute or, if you and your spouse are able to communicate effectively, choose mediation. Talk through your situation with a Bucks County family attorney.
Fees Can Add Up When in a Contested Divorce
In a contested divorce, court fees and attorney expenses can add up. When an uncontested divorce is possible, exploring an alternative resolution could result in a much lower cost. For example, mediation could be a path to resolution.
When you connect with a lawyer to discuss the divorce process, ask about what options are available given the details of your situation. If a contested divorce is the path you will be taking, an experienced attorney will be able to estimate what the final cost will be and let you know what to expect as the process moves forward.
There are times when spending money on a contested divorce is worth the expense, particularly if you are pursuing assets you have a right to. If your spouse is resisting splitting high worth assets or is pushing back on your need for spousal support or child support, investing in an attorney can result in a better financial future for you once the divorce agreement is finalized.
Debt, Taxes, and Lifestyle Changes
Sometimes, there is marital debt that needs to be handled. Debt for property may need to be paid off or paid down, depleting a person’s individual savings. Additionally, tax breaks enjoyed when filing as a couple will no longer apply. It is even possible that when you file taxes you will be in a different tax bracket once your divorce is finalized.
It is also necessary to plan for lifestyle changes when finances are tight. For example, you may need to pay for a new home if your spouse will be keeping the marital property. Expenses for furniture and other home furnishings can add up as well.
Planning for your financial future can help to save you thousands of dollars. Divorce can be expensive, but sometimes the investment pays off in the long run. Talk to a legal professional today to have a full comprehension of your options.
Are you ready to talk through how much a divorce could cost? A skilled lawyer has the experience to secure the future you are seeking. The family law attorneys at Kardos, Rickles & Hand help. Our dedicated legal team understands the finer points of family law. There are opportunities to create the life you want. Schedule your consultation today, call 215-968-6602.