Understanding the costs, considerations, and options for legal separation versus divorce can pave the way to an amicable split and financial stability after the dust has settled. In this helpful overview, we discuss legal separation and divorce, common price considerations, and how divorce mediation can significantly reduce the costs associated with both.
Legal Separation Vs Divorce
When a couple chooses to legally separate, official marriage ties remain intact, but they may live separately, divide certain assets, make joint legal decisions, and cannot remarry. Legal separation can be a viable option if a couple would like to try a life apart, retain financial benefits like shared health insurance, or receive certain tax or social security perks that come with official marriage ties. Since legal separation maintains the marital ties, no formal remarriage is required if the couple wishes to reconcile in the future.
Alternatively, divorce legally terminates the marriage. Unlike legal separation where certain assets, benefits, and legal obligations remain shared, there is a clearer division of assets, custody arrangements, shared benefits, and legal responsibility following divorce. When a couple would like to cut all ties and establish a permanent separation, divorce is the answer.
Primary Cost Considerations
Regardless of the path taken to acquire a legal separation or divorce, there are several unavoidable and variable costs to consider related to the legal process and the cost of living separate lives.
Legal fees: In general, the more complicated your legal separation or divorce is, the more guidance you will need to achieve an agreeable split. Relevant legal fees can include attorney fees, mediator fees, and filing fees. All of these costs can vary significantly, with divorce mediation being the most affordable route to finalize a legal separation or divorce.
Division of finances: Depending on the terms of your legal separation or divorce, how assets, alimony, and child support costs are divided is the primary factor in determining true costs. For example, if you will be required to purchase your health insurance plan following divorce, this additional expense must be factored into your new budget. Alternatively, if you choose the legal separation path, you can still access your spouse’s health insurance benefits, thus spending less as a result.
When considering the true costs of your legal separation or divorce, it is imperative to consider all related elements. When determining how your financial situation will shift, be sure to include adjusted housing, transportation, food, savings, childcare expenses, utilities, and any other relevant costs you can think of when preparing for your new life.
Unexpected costs: To many couples’ surprise, there are other hidden fees associated with a legal separation and divorce. Common examples of unexpected costs can be appraisal costs to determine your shared home value, new childcare expenses, or costs associated with finding a new job if your spouse was the sole source of income.
Divorce Mediation Saves Time, Money, & Stress
If you and your spouse can agree to discuss the terms of your legal separation or divorce through mediation, you can expect to save thousands of dollars and countless hours. Instead of hiring private attorneys and building cases against each other, we provide a neutral environment where we pursue compromise and amicable agreements for a fraction of the cost.
With our supportive guidance, we help you navigate the facts of your situation, ensure that all legal requirements are satisfied, and manage all documentation on your behalf. While helping you organize a constructive plan, our unbiased atmosphere simultaneously reduces the tension, frustration, and exhaustion that comes with drawn-out litigation. Instead of months in court, contact our divorce mediation team and learn how we can help you complete the entire process in a few productive sessions.