If You Don’t, Who Will?

The True Costs of Divorce

Posted by on Aug 8, 2014 in Bankruptcy, Marriage | 0 comments

It is a given that divorce can be life-changing, and not always in a negative way. There are situations where divorce is the most viable option, especially when a couple finds it impossible to continue on with the marriage. Some have even found that a divorce has significantly improved their relationship with their ex-spouse, and after a period of adjustment, has affected children in positive ways.

However, divorce can be a costly undertaking, and filing for the divorce is the least of these. In most counties, the filing fee is between $100 and $350. In Lewisville County, for example, the filing fee currently ranges from $279 to $303, depending on the add-ons. A Lewisville divorce lawyer will know what kind should be filed for the client. Speaking of which, the legal fees for each spouse typically start at $5,000, and this can go up significantly depending on how contentious the case is. But legal fees are not the biggest costs of divorce.

The biggest cost to a divorced couple is maintaining a household on one income instead of two. The costs will depend on whether there are children and if it was a two-income household to begin with. If one spouse was the sole breadwinner, the costs of alimony and child support can have a tremendous impact on the him or her until such time as the non-earning spouse starts working and the children reach the age of majority. The average American may find that the costs of divorce can be so high that filing for bankruptcy may become the only viable route out of financial distress.

Few people are prepared for the unexpected costs of divorce, and the debt burden may be too great to bear. This is why prenuptials are a necessity that many couples neglect upon getting married, and sometime  comes back to haunt them later. There are many advantages to filing for bankruptcy because of divorce, but the timing is crucial. If you think you will run into financial trouble, it would be best to discuss the matter with divorce and bankruptcy lawyers to get a clearer picture of where you stand and your best options.

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