Divorce can be an expensive process. Legal fees, court costs, and other expenses quickly add up. But, did you know that certain factors can make your divorce even more costly? Maybe you should get legal help from a divorce lawyer to understand how you can proceed with a divorce in the cheapest way possible.
Here are some of the potential causes of a high-cost divorce:
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Unwillingness to negotiate
If either party is unwilling to negotiate or compromise, the divorce process can drag on and result in higher legal fees. Without an agreement, the court will have to decide how to divide marital property, support payments, and other issues. This can take a long time and increase divorce costs.
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Lack of planning
If one or both spouses fail to plan ahead, the divorce process can become lengthier and more expensive. Ascertaining asset values, determining potential tax implications, and preparing for a financial future all take time. When these items are left unplanned, it can lead to drawn-out court proceedings that add up over time.
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Spousal maintenance
Spousal maintenance or alimony can be a major expense in certain divorce cases. Each state has particular laws regarding the amount and duration of support payments. If spousal maintenance is included in the proceedings, attorneys’ fees can spike quickly as they struggle to get the best possible outcome for their clients.
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Complicated assets
When a couple has a large amount of complicated assets, such as real estate or retirement benefits, the divorce process can become more costly. Uncovering these assets and determining their value can involve experts and take time. This is why some couples opt for mediation instead of proceedings in court to settle these matters.
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Child support
Child support is an important part of a divorce, but it can also be expensive. When setting child support amounts, attorneys must take into account the child’s needs, as well as both parents’ income and assets. This process can involve many hours of work and financial experts to get the best outcome for all involved.
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Failing to hire a lawyer
While some couples choose to go through a divorce without legal counsel, this often leads to costly mistakes. Negotiations can become drawn out and convoluted without experienced attorneys on each side. When it comes time to divide assets or mediate spousal support, having the help of an attorney can save a considerable amount of money in the long run.
