The costs of separation and divorce can be much more than people initially think they will be. Emotionally, physically, and financially, a divorce can be draining. You should also know that your life is about to change drastically. From moving costs to assets, here are some examples.
Legal Advice Fees
There are overlooked emotional and financial costs when going through a divorce or separation. Therapy, childcare, and of course, legal advice are top among them. Reliable services, such as. State 48 Law Firm, are always open and honest about costs. However, there are unfortunately some bad actors within this industry who aren’t as transparent with costs, and may not even work within your best interests. It is a good idea to research any legal expert you want to hire.
Moving Expenses
The marital home is a place where you have settled for a long time. However, you can lose the right to stay there following a separation. This means you will have to move, and this can cost a significant amount of money. Finding somewhere else to live means you will have to pay a deposit and/or rent upfront. Then there’s the cost of transporting your belongings, which can add up. There is also an emotional toll to be paid when leaving somewhere you have lived for years.
Lifestyle Costs of Separation
When you get divorced or separated, your life will change. You may not be able to live how you used to. It is always a good idea to try to keep your marriage happy and healthy if possible. However, women lose around 33% of their income, and men around 18% after a divorce. That means you won’t be able to afford the things you are used to, such as gym memberships, personal grooming appointments, and even higher-quality food. So be prepared for changes.
Assets and Financials
Couples have assets, whether it’s the living room TV or investments in crypto! Division of assets is part of divorce proceedings. However, without the correct guidance, it is possible you will lose some assets as they are divided unfairly. There could also be nasty disagreements when it comes to finances. Failure to disclose finances honestly can lead to misunderstandings that can cost you dearly. Honesty, fairness, and transparency are always recommended at this stage.
Emotional Costs
Perhaps the most hidden cost of a divorce is the emotional toll that it can take on you. Dealing with divorce can feel a lot like the grief you feel after losing someone, especially when you have been together a long time and there are children involved. This can make a challenging time even more difficult and often results in stress, anxiety, and even changes in behavior. It is a good idea to maintain healthy relationships, seek support, and speak to mental health experts.
Summary
Legal advice is expensive and one of the costs of separation that you can overlook. You also may not be able to live the lifestyle you previously did, and changes may need to be made. Of course, there is also an emotional cost to going through a divorce, which can cause stress.
