5 Reasons Your Long Island Divorce Is Costing Too Much

According to Business Insider, a study published at the end of 2019 stated that on average, the cost of divorce in the United States was $15,500. This staggering figure leaves many divorcing couples with debt, or worse, deciding not to get divorced and living in a toxic marriage just because the cost is so prohibitive. Managing the costs of your divorce is an important part of the process. Here are 5 things that can drive up the cost of dissolving a marriage and how the seasoned New York divorce lawyers at Hornberger Verbitsky, P.C. can help reduce the cost of your divorce.

#1. You Have a Lot of Assets or High-Value Assets

If you and your spouse share many assets, the process of equitable distribution will likely take longer than if you had few or no assets to split between the two of you. The same is true if the assets you own with your spouse are of high value. The more assets you have or the higher their value, the higher the chances are that you and your spouse are going to disagree about the way some or all of the assets you own should be divided.

These arguments require skilled negotiation, which can be expensive for both spouses. Although disagreements about how to distribute high-value assets naturally drive up the cost of getting a divorce, many couples with extensive assets are willing to incur this cost to fight for their maximum share of the divorce settlement.

#2. You and Your Spouse Can’t Reach Any Common Ground

The more matters you and your spouse disagree about during your divorce, the more expensive your divorce is going to be. Although it’s possible to get a very cheap divorce compared to the average cost of divorce nationwide, the lowest figures almost always belong to couples who agree on how to proceed with the various matters of dissolving their marriage. If you have a lot of issues to cover and you and your spouse tend to fight about anything and everything, you can expect this to raise the cost of your divorce over time. You can reduce your divorce expenses by making compromises and avoiding contentious arguments when possible. If you and your spouse can work together amicably and agree on most divorce matters, you may be able to reduce the time an expense of your divorce through divorce mediation.

#3. Child Custody Matters Are More Complex Than You Expected

If you have children with your spouse, getting a divorce is inherently going to be more involved, and therefore cost more than if you did not have children. However, even couples who anticipate child custody expenses may be taken aback by the cost of their divorce if disputes over child custody and visitation matters get out of hand.

For example, say the court awards your spouse with primary physical custody of your children but you believe they are in danger in your spouse’s custody due to an addiction problem, domestic violence, or another critical situation. If you want to fight the court’s earlier decision and petition for full custody yourself, this will significantly increase the cost of your divorce.

#4. You Own a Business with Your Spouse

One of the most expensive additions to a divorce is the dissolution of a jointly owned business. Generally, the options that exist are liquidating the business and dividing the profits equitably or allowing one spouse to buy the other spouse’s shares in the business in order to continue its operation. Both take time and adequate legal expertise, tacking on a extra expenses to your divorce.

#5. Your Attorney(s) Are Inexperienced

If you or your spouse hire an inexperienced or unscrupulous lawyer to represent you, this could add up in the form of attorneys’ fees for extra hours spent on paperwork the attorney didn’t quite understand or if your lawyer is billing for hours they didn’t work. Inexperienced attorneys, or attorneys who do not specialize in divorce and family law matters can really cost you in both the short, and long, term.

Call Veteran Long Island, NY Divorce Lawyers Hornberger Verbitsky, P.C. Today

Are you considering getting a divorce or have been served with divorce papers and you need help managing the costs of dissolving your marriage? Experienced Long Island divorce attorneys Hornberger Verbitsky, P.C. understand the need to keep your divorce within a certain budget and work with clients to create affordable options and solutions for divorce in New York. Call today for your consultation to discuss your legal needs by calling 631-923-1910 or fill in the short form on this page.