Nobody likes to go through a divorce or even think about divorce. However, not all marriages work out, and it is a relief that couples can choose to separate ways when things get difficult. The process is painful, both for you and your spouse. No matter who has filed for the divorce, it hurts the same. However, a few tips can make the financial hurt sting less.
You, like many others, may think that divorce is expensive. While this is true, there are ways you can lower the cost of divorce. Understanding the various costs of a divorce can help you save a few bucks. For legal assistance, speak to an experienced Wisconsin family law attorney.
Factors that increase the cost of divorce
- Fighting with your spouse.
Divorce is difficult, and it is normal for spouses to disagree with each other and fight. However, if you and your spouse can agree on terms like child support, alimony and property division, it can significantly reduce divorce costs. The more you fight, the more time it takes for the divorce to get finalized. Thus, it increases attorney fees.
If you end up in court, you will have to pay your attorney even more. There are various costs included in a trial, such as deposition, witness costs, service fees, etc. The costs of a contested divorce are typically much higher.
- Complicated assets.
Another factor that can increase the cost of your divorce is if you have complicated assets. Examples of complicated assets may include stocks, bonds, having many assets, or owning a business. This is because it takes more time to figure out the value of such assets and how to split them fairly. If your ex-spouse was a partner in your business, it could complicate things further.
- Custody battles.
Nobody wants to lose their child in a divorce. Therefore, fights over who gets the children are usually common and last for a long time. You and your spouse must make the decision yourselves as it can save you both time and money. If the decision rests with the court, then it may take longer to finalize the divorce.
- Ability to compromise.
Both spouses need to understand that one party cannot get their way in every aspect of a divorce. You and your spouse must be able to compromise and find a middle ground. The quicker you resolve the issues, the better.