If you are heading for a divorce in Georgia, you might be trying to figure out how much it will cost you. This is understandable, as divorce can have a tremendous effect on the finances of both spouses. There are many parts of divorce that might cost you significant amounts of money, and some of these things will continue to siphon away your cash for years to come. While this is often an inescapable reality, you can strive for the best possible financial outcome with the help of an experienced divorce attorney. What part of divorce is the most expensive?
The truth is that each divorce is different. The most costly part of your divorce depends on a number of different factors, such as whether you have kids, how much property you own, how long you have been married, and so on. In order to figure this all out, you need to get in touch with a family law attorney in Georgia. During your initial consultation, we will examine your unique situation and determine the best course of action.
Property division is usually the most expensive part of a divorce. This is especially true if you and your spouse accumulated a number of high-value over the course of your marriage, such as real estate, stocks, and even family businesses. These assets are often much higher in value compared to the long-term costs of paying alimony or child support.
Alimony and Child Support
Make no mistake – alimony and child support can be quite expensive. But they only become the most expensive part of your divorce if you have few assets to speak of. For example, if you and your spouse were renting prior to the divorce and were living paycheck to paycheck, then alimony and child support might indeed become the most expensive part of your divorce.
It is often difficult to figure out whether alimony or child support will be more expensive in the long run. This is because if you divorced while your children were still young, your marriage probably did not last much longer than the age of the children. The longer your marriage lasts, the longer alimony will last. If you had a child and divorced two years later, your alimony will probably only last two years – if that. On the other hand, you will continue to pay child support for the next 16 years or so until your child becomes an adult.
Losing the Financial Support of Your Spouse
If you stand to receive alimony, child support, and a considerable amount of property following your divorce, do not assume that your financial situation will be rock-solid in the years to come. The truth is that losing the financial support of a spouse can be the most expensive part of divorce for many “receiving” spouses. Statistics show that on average, women become much less wealthy in the years following divorce, while men actually become steadily richer.
Enlist the Help of a Qualified Attorney Today
If you have been searching the Georgia area for a family law attorney, look no further than Lankford & Moore Law. Over the years, we have helped numerous spouses with every aspect of their divorce, including important financial matters like child support, property division, and alimony. With our help, you can walk away from your marriage with a sense of confidence, having protected your wealth in the best way possible. Book your consultation today.