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How much does divorce cost?

On Behalf of | Apr 4, 2023 | Divorce |

Divorce is an emotionally challenging experience, especially when you have children. However, it can also take a toll on your finances. Legal costs, asset division, and other expenses may add up quickly.

However, you can potentially avoid the financial fallout by determining how much your divorce will cost overall. Here are a few cost factors to consider.

Court and legal fees

While court fees vary from place to place, most divorces cost a few hundred dollars or more. For instance, you must pay a fee for the initial filing, as well as for court reporters and other legal services. You will also need to pay for attorney services at different phases of the divorce, such as depositions and hearings.

Living expenses

Your home budget will probably change after divorce. For instance, slashing your income means that household budgeting will be more important than ever. You may also have new financial obligations, such as child support. In this case, it may be necessary to downsize your home or lifestyle to ensure you can continue to cover living expenses.

Home sale

Many couples choose to sell their home and split the proceeds after divorce. However, selling a home can be costly. In addition to the money needed to market the property and stage open houses, homeowners may also need to make repairs to make the home desirable to buyers. While you will hopefully recoup these costs when selling the home, it can take some time before the property sells.

While all divorces incur some expenses, making smart financial decisions will keep you on the right track. By knowing what to expect, you can financially plan for your divorce and head towards a brighter future.



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