When people encounter those who just went through a contested divorce, most financial complaints are not getting enough money from their ex, expensive spousal support, paying for a bad divorce lawyer, and seemingly unfair child support payments.
While these are all valid divorce costs under specific circumstances, there are several other divorce costs that most people don’t consider when they enter the divorce process.
Before you file for divorce, keep these 5 overlooked divorce costs in mind and let an experienced divorce lawyer help you prepare yourself for potential unexpected expenses.
5 Easily Overlooked Divorce Costs
When a couple splits up, one party in the marriage often moves out. It’s always important to take into account your financial ability to move into a new home or apartment and furnish your new lodging. It is also important to take steps to recover financially in order to create a stable family environment if children are involved with your divorce.
New Mortgage Agreement
If you and your ex-spouse both had your names on your home mortgage, the spouse that takes over the home will need to renegotiate their mortgage agreement to put the home in their name. Although the loan modification in itself may not be expensive, the party taking over the home must keep in mind that they are now solely responsible for mortgage payments, property taxes, and general upkeep of the family home.
Some divorce parties believe they can save a few thousand dollars through self-representation during the divorce process. While it’s completely legal to represent yourself in a divorce, the truth is that doing so can often lead to:
- Financial manipulation from your ex-spouse
- Being led into costly decisions by your ex-spouse’s representation
- Elongating a divorce process that probably could have been settled with legal help
Unfortunately, in many cases, divorce lawyers pick up are from people down on their luck after trying and failing at self-representing themselves. Save your money, and start the divorce process with an experienced divorce lawyer that can get your proceedings on track for a fair rate.
Splitting Up Healthcare and Other Plans
If you and your ex-spouse previously shared insurance plans, cellular plans, and financial obligations like car loans, prepare to take on more expenses in the near future.
As divorces get finalized, many parties seem surprised when they are forced to enter into numerous plans on their own where they have full financial responsibility.
Going to Trial
Remember, only 10 percent of all divorces in Texas actually result in a trial. Some couples believe that taking their stubborn ex-spouse to court will guarantee they receive whatever they seek from the divorce.
While a trial can leave an eager party with the outcome they’ve desired, both parties will end up with legal and court fees that could total an average of $23,000, depending on how long the trial lasts.
Keep in mind, a divorce trial is a long-haul experience that can last beyond a year. So, don’t make this move without knowing the financial implications of your actions.
Make Your Divorce Costs Fall Into Your Favor With Nilsson Legal Group
Don’t let your divorce end in regret. Start the new chapter of your life with minimal divorce costs after gaining your rightful portion of marital finances and assets once the final divorce decree is signed.
Let the Fort Worth divorce lawyers of Nilsson Legal Group help you save wherever possible and financially set yourself up for a successful life after divorce.
Contact us today to learn more about our services and schedule a free consultation with a member of our team.