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Understand the costs, financial and beyond, of divorce

A divorce is a costly endeavor. This is true for the financial costs, but it is also true in other ways. If you are considering a divorce, you should make sure that you think about all of these costs and how they might affect you and those close to you.

The financial cost depends on the type of divorce you need. You can likely reduce the cost of the divorce if you and your ex can work together to come up with a settlement. Doing this means that you don't have to go through a trial. It also means that your divorce might be finalized much faster.

The time you have to spend on the divorce is another cost that you will have to absorb. You may have to miss work, which could mean an additional financial impact. Even if you don't have to take time off of work, the time you spend preparing documents for the divorce still takes you away from other activities.

The emotional toll of the divorce is another thing to consider. This will impact both you and your children. It is also another reason why it might be a good idea to try to use mediation. Not having to go through a trial could take some of the stress out of the situation. This could mean that you get child custody matters figured out so that your child isn't as stressed about everything.

Each divorce is different, so make sure that your case reflects the circumstances of the divorce. For example, a trial might be necessary if you are the victim of domestic violence, even though it means the divorce will cost more.

Source: Our Family Wizard, "The Real Cost of Divorce," accessed Aug. 18, 2017

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