Readers of our Massachusetts family law blog may be interested to learn the results of a survey about the top concerns of couples when it comes to divorce. The results show that cost of a divorce is a top concern among the majority of people when it comes to the dissolution process.
For couples without children, cost is the top concern followed by division of marital property and debts. Child custody is the biggest concern for couples with children. However, cost of a divorce was the second biggest concern of these couples. Cost is also the largest factor when it comes to choosing an attorney to hire in a divorce for most people.
Figures show the average divorce can cost between $15,000 and $20,000. Although no divorce is average, these figures may come as a surprise to many Massachusetts residents. The costs of a divorce include items such as attorney’s fees and court costs. They also include fees for financial experts such as accountants and psychological professionals. Mediation costs are included in these figures. The total cost of a divorce can easily increase if there is real estate involved or protracted litigation.
Despite the costs involved, there are several ways to minimize the financial impact of a divorce. Open communication and moving quickly can avoid costly court battles. It is also important to be completely honest throughout the process and understand what one is agreeing to in a settlement agreement. Where possible, entering into a pre- or post-nuptial agreement can streamline the divorce process. A Worcester divorce lawyer can talk to one in more detail about the divorce process and how to keep costs down. Costly courtroom battles can be avoided in many cases.
Source: The Washington Times, “Which is more expensive, marriage or divorce?” Myra Fleischer, Sept. 30, 2013