Friday, April 5, 2019

5 Things that Impact the Cost of Divorce

Divorce is a trying time for everyone involved. Personal and professional relationships may be affected by a divorce. Not only does a divorce at the Lake of the Ozarks cause emotional damage, but it can also have a negative impact on your financial stability. Divorces cost money and it's best to find an experienced divorce attorney near the Lake of the Ozarks to look out for your best interested throughout the entire process.

1) Business Ownership

Owning a business can make the divorce process more complex. If no arrangements were set in stone before the marriage, the business may be included in the overall assets of the marriage. This can take extra steps for each lawyer to review financial documents and decide a worth of the business if both parties want ownership rights or financial gains from the business.

2) Children Involved

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.

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.

4) 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.

5) 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.

If you're thinking about filing for divorce near the Lake of the Ozarks, Gibbons Law Firm is here for you. We offer a free initial consultation for divorce cases. It's important your interests are top of mind and our law firm at the Lake of the Ozarks can help protect yours. Contact us today to set up your consultation and learn about how we can help with your unique divorce circumstances.

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

Your Trusted Legal Resource

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

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