Going through a divorce is exceptionally stressful for many, as the overwhelming emotions can be draining. Unfortunately, one thing separating couples may not consider is the cost of a divorce. Though you may know how much a lawyer charges, there are many hidden divorce costs that people are unaware of. Keep reading to learn some overlooked expenses and discover how an Ocean County divorce attorney can help you through this process.
WHAT ARE THE MOST COMMON HIDDEN DIVORCE COSTS?
Many may not be familiar with the unexpected expenses that can arise during a divorce. Unfortunately, much of the burden will fall on the spouse who moves out of the home, as they will have to rent or purchase their own living space. On top of this initial price, they must also furnish the home, pay for utilities and other expenses, and purchase their homeowner’s or renter’s insurance.
Also, many may be shocked to discover how expensive it can be to separate joint accounts and plans. For example, if a couple shares a phone plan, it can be costly for one spouse to buy out their share to switch to their own individual plan. Another unexpected expense can arise when a couple must separate any loans they both signed. One spouse may have to buy out their portion of the loan, have their spouse sign the title over, and then proceed with refinancing. Refinancing can result in higher monthly payments and more time spent paying off the loan.
Many may not realize the emotional toll a divorce can have on someone, and as a result, many going through this process seek professional counseling. While this is a great way to improve mental health, therapy sessions can be expensive, even if the patient has insurance. When you consider that a dependant will have to obtain their own health insurance, this cost increases even more.
HOW CAN AN ATTORNEY HELP ME?
Perhaps one of the most overlooked costs of divorce is hiring an attorney that isn’t familiar with divorce and family law. Not only is this a waste of money, but it can also cost you in the long run in terms of property distribution. If your lawyer is not familiar with this practice, you may not receive the assets and alimony you are entitled to during your divorce.
Hiring an experienced and competent attorney is exceptionally vital when going through a divorce. At the Law Office of Sarina Ginna, our dedicated legal team is well-versed in divorce and family law, so you can rest assured that your case is in good hands. Contact our New Jersey firm today to learn more about how we can help you.