Divorce might be only option, but it isn’t cheap

For couples in Louisiana and throughout the nation, cost may be a major factor for them refraining from filing for divorce.

Just as weddings cost thousands, so could the divorce. The cost of the divorce depends on a number of issues, especially if the parties are contesting it. Divorces in the U.S. total $28 billion a year, with each costing between $15,000 and $30,000, according to Forbes.com. For less expensive options and less complex divorces, couples can try arbitration at a cost of between $10,000 and $15,000 or a mediator for about $5,000.

The financial aspects of divorce have changed in the past few years, according to a survey of divorce lawyers. More than half — 56 percent — of the lawyers reported an increase in mothers paying child support, with 47 percent of them saying more women are paying alimony.

There are other costs involved in divorce, too, which have nothing to do with the nuts and bolts of getting unattached. Divorcing couples must add in the cost of moving, whether one individual moves from the marital home or both individuals choose to move from it. The cost of the move depends on the choice of movers. For example, it will be more costly to hire a professional moving company versus family and friends to help you move. The cost of interim housing and storage should also be taken into account. Storage units and hotels will likely be utilized if a new place to live isn’t readily available.

Even those who choose to forgo marriage will find some costs in breaking up. Consider palimony suits or even lawsuits that occur when one person calls off the wedding at the last minute. Frequently, the jilted person will sue the other for costs pertaining to the wedding, such as non-refundable deposits, the price of invitations or even the wedding clothing.

Breaking up isn’t easy emotionally or financially. Parting amicably, if possible, would help both the psyche and the pocket.

Source: Bundle.com, “3 Expert Tips For Handling Money, Post-Breakup,” Evan Dashevsky, Oct. 22, 2012