Is it Cheaper to Be Divorced?

Is it Cheaper to Be Divorced? Law Offices of Anthony R. Scifo – 2155 Point Boulevard -Suite 220 – Elgin – Call 847-628-8311

Is it Cheaper to Be Divorced?

Many of the factors that determine divorce costs depend upon how the spouses handle the process. Getting a divorce will force you and your spouse to make decisions that will have a significant influence upon your financial circumstances for the future. That is a one of the most important reasons to obtain an Elgin divorce lawyer to protect your best interest. It can also be advisable to consult a financial planning expert too.

Assets, property, money and debts accumulated during marriage are typically divided among spouses. That can, of course, have major consequences on their financial state. Some people who obtain a divorce need to increase their income as much as 30 percent just to sustain their standard of living. Is it Cheaper to Be Divorced?

Typically, divorces are either contested or uncontested. In a contested proceeding, the spouses are not able to reach agreement on many of the key issues they must resolve to finalize their divorce. With uncontested divorces, the spouses are in agreement on most or all of the key issues. If you and your spouse are having a difficult time agreeing with each other on matters like division of property or parental responsibilities, you may want to consider mediation as a less expensive alternative to fighting in court. There are some courts who order spouse to try mediation before issuing divorce orders.

Is it Cheaper to Be Divorced? If you are able to settling your differences in mediation, all you’ll need to do next is present a marital settlement agreement to the court. This can help to save costs and streamline the process.