Thursday, September 14, 2017

4 Factors that Impact the Cost of Divorce

Did you know financial challenges are one of the most common causes for divorce in the United States? Although divorce does not have to be expensive, there are a number of factors that can drive up the cost of a divorce. Several factors can increase the financial stress for both parties involved in the divorce.

One of the most common questions our family law attorney at the Lake of the Ozarks gets asked is ”how expensive is a divorce.” Unfortunately, there is no set amount for each divorce. Each situation is different, making it impossible to provide a clear price estimate. There are certain factors that can influence how much a divorce will cost. Our Lake of the Ozarks law firm is here to help explain some of the factors that may apply to your divorce and how these factors can impact the overall cost.

Factor #1: Children Involved in the Divorce

When there are children involved in a divorce, the cost of the divorce may rise. It can take more time to determine how to divide custody of your kids. A custody battle is often the most highly contested aspect of the divorce process. Each parent is typically passionate about their kids and are willing to fight for their rights, causing the cost of divorce to rise.

Factor #2: Amount of Cooperation between Spouses

Cooperation with your spouse also has a direct impact on the length of time involved to finalize the divorce. This factor also has a big impact on the money needed to complete the process. If you and your spouse cannot decide how things should be handled and divided, extensive and costly litigation fees may be involved. If the two parties can agree and cooperate, it can greatly impact the bottom line in a positive way.

Factor #3: Marital Assets Involved

If a large amount of assets are involved, the more work needed in dividing them between the two parties. Multiple properties or other assets can complicate the process, and drive the cost up. Other assets that can complicate the process are shared investments and retirement accounts that are listed in both of your names.

Factor #4: The Attorneys You Choose

The attorneys used to represent you in the divorce process will have a significant impact on the overall cost. While the cost is a major factor, it's important to find a divorce attorney at the Lake of the Ozarks that is trustworthy, reliable, and has your best interest in mind throughout the entire process.

If you are interested in filing for divorce, we hope you'll consider Gibbons Law Firm for a trustworthy and affordable attorney. It's important to find the right lawyer to represent your divorce case. Let us help you through the entire divorce process.

Along with divorce, our Lake of the Ozarks divorce attorney has experience with all matters relating to family law. Child custody, spousal maintenance, child support, pre-nuptial and post-nuptial agreements, paternity cases, annulments, and legal separation are all matters we can assist with, as well. For more information about divorce at the Lake of the Ozarks, contact our law firm today. Your first initial consultation is always free with us!

Remember, your initial consultation with Gibbons Law Firm is always free.

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Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

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