When considering divorce, people are often concerned about two main points: the disruption that they and their children will experience in their lives and how much the divorce will cost. While one cannot overlook or discount the emotional pain that comes with the end of a marriage, financial issues can also be an important components of a divorce case. The costs involved in a divorce can vary significantly depending on the situation and the couple involved. Many circumstances, such as difficulties with the division of assets, can increase the overall cost of a divorce. Contentious divorces typically cost more than amicable ones. In short, couples who are concerned about the cost of divorce are encouraged to look for ways and opportunities to minimize their expenses.
Litigation Versus Negotiation
One of the biggest factors that can be controlled in a divorce is the choice to resolve issues as amicably as possible. Divorces that are litigated in the courtroom tend to be more costly than those that are negotiated, but even a mediated divorce can become quite pricey - especially if the negotiation process does not work out. However, in most cases, couples can reduce the costs of divorce by negotiating a settlement outside of the courtroom.
Dividing Marital Assets
During divorce, spouses must divide their assets and belongings according to what is considered “fair and equitable.” Of course, the idea of what is fair can be subjective. What one spouse might consider equitable may seem disproportionate to another - particularly if one spouse chose to stay home to care for the couple's children or suffered from health-related issues that kept them out of the workplace. This is just one example of why it is important to have an attorney who can protect your interests in the division of marital assets....