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Can I Afford a Divorce?

When you discern that a divorce is necessary, it can be a tough pill to swallow. What’s worse is realizing the cost of dissolving a marriage. One of the most common questions when contemplating a divorce is whether a couple can afford the legal process. You may question the legal fees of the divorce itself and what life may look like with twice the expenses of two separate households. Despite the significant expense, there may be compelling reasons to pursue a divorce. The high cost of this legal process should not preclude it as a viable option if it’s right for you. Please continue reading to learn how to prepare financially for a divorce and how a compassionate Ocean County Divorce Attorney can help you explore your legal options. 

Can I Afford to Get Divorced?

While a divorce can be emotionally overwhelming, it can also cause lasting financial damage. Therefore, it’s imperative to determine whether you can afford to pursue one. This begins with a thorough assessment of your financial situation. Staying in a lousy situation for longer than necessary is not recommended. However, it’s important, whenever possible, to ensure you are financially prepared before making the deicsion to go your separate ways.

The first step is to determine how the divorce will impact your income. You should figure out whether your income will be enough to support your lifestyle following the divorce. It’s beneficial to consider the division of assets and debts that may occur during your divorce, as it can help you understand your financial needs. Ultimately, this will help you make informed decisions during negotiations or court proceedings.

How Can I Limit the Costs of a Divorce?

Moreover, it’s essential to consider the actual cost of a divorce. Unfortunately, there’s no way around this, and it can be expensive depending on whether you are separating amicably. From filing fees and other related costs, the financial ramifications of a divorce are severe. Fortunately, there are numerous ways to limit the costs of your divorce to make it more affordable. You should consider alternative dispute resolution methods to limit legal expenses. Mediation and divorce collaboration are usually much less expensive than traditional divorce. Alongside alternative dispute resolution methods, you should consider an uncontested divorce. If you and your ex agree on all the terms that will apply to the termination of the marriage, you can avoid litigating and the associated costs.

If you’re wondering whether you can afford a divorce, please don’t hesitate to contact a knowledgeable attorney from the Law Offices of Sarina Gianna, LLC, who can help you navigate your legal options to find the most suitable divorce route.