Those preparing for a divorce expect to part with a large sum to complete the process. Unfortunately, most do not understand the total costs associated with divorce litigation.
Although you may feel ready to meet the financial challenges of ending a marriage, chances are that you are much less prepared than you think. Take a step back and reconsider what a traditional courtroom divorce might cost.
Complex marital assets drive up expenses
Do you own a family business with your spouse? What about real estate and investment income? Did you know that spouses can find online resources that show them how to hide marital assets? You need to consider these and other issues in a high-asset or financially complicated divorce to help ensure that you obtain a fair settlement.
Contested divorces impose even more costs
When a spouse fights the divorce, the other spouse may need to hire investigators or specially trained accountants to help them prove their case. You may also need to engage expert witnesses to strengthen your side of the divorce. These unaccounted-for expenses can double or even triple your total divorce costs.
Consider alternatives to litigation
Collaboration and mediation are two divorce alternatives posing the least risk of facing heightened costs. In a collaborative divorce, you retain the guidance of your respective legal representatives while negotiating sensitive issues. With mediation, you can work things out in a safe environment overseen by a neutral third party.
Florida has developed specific laws and procedures for collaborative and mediated divorces. Learn more about them to get started. If your spouse continues to resist, your representative can guide you in choosing your next steps.
