7 Factors that Can Affect the Cost of a Divorce
Divorces have a lot of variables, including variables that directly impact the bottom line.
Divorce is never easy and many people try their best to keep from having to file it. Not only is a divorce stressful and emotions, it can also be expensive. Nobody wants to spend a lot of money on court fees and attorney fees when they are going through a huge change in their life. You may need money for other things, such as buying a new home or making a new move.
If you are worried about the cost of a divorce, it’s a good idea to work with a family law attorney in Orange County to get through the divorce as quickly and as affordably as possible.
Here are some of the things that can affect the cost of a divorce:
1. Filing Fees
One of the first expenses you will encounter when you file for divorce is the filing fee. This can range depending in the court, but in most cases it will be between $100 and $500. You will need to pay this fee when you file the paperwork for your divorce. Typically the spouse that files for divorce has to pay the fee. If the divorce is something you both want, you may be able to split the cost with your spouse to help reduce the amount you have to pay upfront.
2. Property Division
Division of property has a big effect on the cost of divorce. While you may not have to pay any money for the division of these assets, you will end up losing things that are valuable and are worth money. Depending on how the divorce goes, you may have to divide some expensive things if you can’t agree on who will get them. This can include things such as your home or your car.
In some cases, you may either have to pay your spouse for your half of a large or expensive asset, or you may need to sell it and split the money you make from it.
3. Bill Responsibilities
With the division of assets, also comes the responsibility for bills. If you do end up being awarded the home or car, you will also be responsible for those bills. In some cases, you may also have to pay off credit cards, pay back deposits for utilities, or continue to pay on bills that you agreed to take on, for property that you know longer own. This can cause you to have to reevaluate your financial situation and come up with ways to pay these bills that you were once able to split with your spouse.
4. Child Support
If you have children and you get a divorce, you may have to pay child support for them. In most cases, one parent is awarded physical custody of the children and the other is awarded visitation and ordered to help pay for the cost of raising the child. Child support payments are often based on the income of both parents and are designed to be fair to both.
Still, whether you pay to receive child support, it can be a financial blow that takes some time to get used to and you may need to rearrange your finances around it.
If one spouse has been dependent on the other for the duration of the marriage, that spouse may be awarded alimony. While permanent alimony is no longer common, many spouses do pay alimony until their spouse is able to get back on their feet and start a life for themselves. Alimony is often based on the income of the working spouse as well as the needs of the non-working spouse.
Losing an income can be devastating, and having to pay money to your spouse and try to get your life together can be just as stressful. Both parties can struggle with divorce and alimony issues.
6. Moving Expenses
When you get a divorce, one spouse will likely move out. If it’s you, you will have to come up with money for these moving expenses. You may have to come up with a downpayment for a new home, a deposit to rent a home, and deposits to have utilities turned on. These expenses can be some of the biggest ones you encounter with a divorce and they can’t be avoided. If you aren’;t moving out, but your spouse is, you may suddenly find yourself responsible for all the household bills and payments, which can be just as financially difficult.
7. Legal Expenses
There are legal expenses when you file divorce and they often depend on which family law attorney orange county can you choose. The right attorney will know how to move through the process quickly, fight to make sure you are treated fairly and aren’t dealt a financial blow on top of dealing with a divorce. The longer the divorce is drawn out and the times you have to appear in court, the more legal expenses you will have. It’s always helpful to have a divorce attorney that you trust to treat you right and act in your best interest.
The Best Way to Keep Costs Down? Sit Down and Talk
The main thing you should remember is that divorce costs can be as low or as high as you and the other party are prepared to go. While there are things like filing fees that remain constant, there are many things that you and your spouse can talk about to keep costs down such as property division, bill responsibilities, child support and alimony. If the decision to get a divorce is mutual, you can even split the fees and legal expenses perfectly down the middle!
Of course, we understand that not all situations will be ideal. You wouldn’t be getting a divorce in the first place if you could see eye-to-eye perfectly, after all.
If you are thinking about getting a divorce and are worried about the cost of it all, be sure to reach out to a trusted family law lawyer orange county. The right family law attorney will walk you through the process and make sure everything goes as smoothly as possible. They will help reduce the amount of times you need to go to court, help you plan for unexpected expenses, and will likely have answers to emotional questions you have along the way.
Divorce is tough on everyone for a lot of reasons. You can expect it to bring some financial changes to your life, but they shouldn’t be devastating. Knowing what to expect can help you prepare and handle everything your divorce brings, more easily. If you need help with your divorce, be sure to call Lemkin Law for help.