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Is now a good time for a divorce? It Is a question many people ask themselves upon realizing their relationship has run its course. However, the truth is, there’s never really an ideal time for divorce – as there will always be factors that could make you feel as though you need to stay in the relationship.
For example, if you have children together, you may be worried about how their lives will be impacted by their parent’s separation. You may also have many shared assets that are difficult to divide, meaning you are unsure of your options moving forward.
Another key factor that often influences decisions when it comes to force— is the costs involved – and, given that we are currently in a period of inflation, where the cost of just about everything is rising – many people believe that getting divorced is simply too expensive.
Is the cost of divorce rising?
A recent Forbes article states, “the average cost for a divorce in 2023 is between $15,000 and $20,000.” This is a slight increase from pre-pandemic years, where the average was approximately $15,000.
As such, it’s unsurprising that many studies have found that rising inflation rates often correlate with a decrease in divorces. In an attempt to cut costs, couples may be considering other alternatives, such as couples therapy or living separately without completing the formal proceedings.
Inflation can also make it difficult when splitting assets or selling properties – as the housing market is also going through a tumultuous period, which could again influence your decision to get divorced.
However, it’s important to note that your happiness should not come with a price tag. If you are in a relationship that no longer serves you, you must prioritize your well-being above all else. Furthermore, there are many ways in which you can work to lower the cost of your divorce.
How can I keep the cost of Divorce down?
Initiating a peaceful divorce process is one of the easiest ways to lower the cost of your divorce. This is because you can avoid heading into court, which not only comes with many additional costs but can also make the process last much longer too.
During a peaceful divorce process, your legal team will help you proceed with your divorce cost-effectively while prioritizing your well-being throughout. For example, they can initiate difficult conversations, such as those regarding the division of assets, making it easier to come to a mutually beneficial decision. By having an impartial third party present during these conversations, you can avoid the challenges and pitfalls usually associated with these decisions, therefore protecting the interests of both parties.
Another way in which you can keep down the costs of your divorce is by working to separate your emotions from the process. While this can be difficult, decisions fueled by anger (or even sadness) are not often the best in the long term. If you ever feel overwhelmed during the proceedings, excuse yourself for a short time to clear your mind.
If you’re about to initiate a divorce but are worried about costs and other stressors – we’re here to help. Our team of experts is committed to ensuring that your divorce is as peaceful and cost-effective as possible, and we’re always on hand to answer any questions you may have.
Get in touch with a Provider today to find out more.
