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Tallying the true cost of divorce

It is no secret that ending a marriage involves a certain allocation of funds in order for a successful settlement to be reached. But even beyond legal fees, there are costs of divorce that not every Connecticut resident might immediately think about when planning for it. Some of the more common costs may not be anticipated by a couple focused on the emotional impact of their divorce. 

Depending upon the couple's state of residence, filing for divorce costs money. The cost of a petition for the dissolution of a marriage can vary based on state, and it is important to note that both parties will be required to file a petition and/or a counter-petition. This means that in some way, both parties will be "on the hook" for a filing fee, regardless of who files first. 

While not all divorce cases require "deep diving" into personal data for one or both parties, sometimes a divorcing individual will request the aid of a forensic accountant to delve into the other party's spending habits. This is common in cases where there is suspicion that one party is hiding marital assets in an effort to keep them from being split. While it could turn out to be financially important to secure these services in order to ensure a fair separation agreement, there will be an immediate cost associated with this service. 

A divorce is a very personal process, which means the cost associated with it will be very much a reflection of that couple's unique situation. Connecticut residents approaching divorce can benefit from understanding what these costs might look like ahead of time, in order to be prepared for the financial repercussions of the separation. This in turn can help both parties plan for their futures as single individuals. 

Source: stltoday.com, "How much does divorce really cost?", Rebecca Zung, May 22, 2015

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