Considering the cost of a divorce

| May 19, 2021 | Divorce |

Ending a marriage is not a joyous time for spouses in Michigan and elsewhere; however, it is a process that several married couples will face each year. With the rate of divorce remaining around 50%, it is an event that one needs to consider prior to getting married and while they are married. Even when a couple fully agrees that a divorce is the best step for them, some factors may deter them from moving forward.

Divorce has the reputation of being expensive. While this could very well be the case for a complex and high-conflict dissolution, the reality is that it does not need to be expensive. Therefore, it is important that divorcing couples understand how they can make the process more affordable and even less time-consuming.

The cost of a divorce

Much like the cost of a wedding ranges, so does the cost of a divorce. An individual could spend tens of thousands on a large wedding, have a modest reception at home or go to the courthouse. Similarly, the couple could battle out their divorce for years, spending tens of thousands of dollars, spend a few thousands of dollars to litigate the divorce or settle the matter on their own for a few hundred dollars.

Every marriage is different much like everyone’s financial situation is different. The details of the marriage often dictate the flow of the divorce. If it is complex and messy, it is likely to cost more. However, if spouses can work together, it is likely to move forward more quickly and in a more amicable fashion.

Reducing the costs

In order to understand the expenses associated with a divorce, one must understand what they want to leave the marriage with. In other words, clarify what is important and what isn’t important. This will help the divorcing couple communicate what issues are necessary to address and what ones are trivial or less important. This could help one move forward with an alternative dispute resolution, such as mediation, and help one to avoid the costs associated with litigating a divorce.

Divorce is likely a very unexpected event, and with that, can carry with it other unexpected issues. With regards to the costs associated with it, one does not need to be shocked by this. It is possible to consider the costs of the process even before it begins. Thus, it is important that a divorcing spouse takes the time to fully understand their situation and what options they have, as this could help reduce the cost and time it takes.