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What are the immediate and long-term costs of a divorce?

On Behalf of | Dec 28, 2020 | divorce

The process of ending a marriage is emotionally challenging, and it can also be quite expensive. There are financial losses often associated with a divorce, and lifestyle adjustments are likely necessary for both parties. It may be helpful for a California adult to learn more about the potential costs they may experience both immediately and long-term before moving forward with property division decisions.

While every divorce is different, experts suggest the average cost of a divorce ranges from $10,000 to $15,000. The more contentious a divorce is, the more likely it will be that the total costs will increase. These numbers do not account for the long-term divorce-related costs associated with spousal support or child support. Legal counsel will be a necessary expense, especially if there is litigation.

One of the most common issues California couples have to address is what will happen to the family home. While it can be quite costly for one spouse to keep the home, it can also be expensive to sell it. As with any other decision related to finances, it is prudent to consider the long-term costs before agreeing to terms.

The decisions made during a divorce may affect a California spouse for years to come. This is why every detail of a financial settlement matters and should be carefully considered. Because of what is at stake and the potential costs that can quickly add up, it will be beneficial to work with an experienced attorney. Experienced guidance can help a spouse make decisions that will truly be in his or her best long-term interests.