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Can't Buy Me Love, but Divorce Could Cost $100K
Paperwork's cheap, but hiring lawyers, dividing real estate, finding therapy adds up
By Victoria Floethe
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Posted Jul 6, 08 3:30 PM CDT
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(Newser)
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In the current financial climate, getting unhitched has become all the more ruinous, Divorce360.com reports. Selling your home, hiring attorneys, shelling out for therapy, and finding temporary housing add up to a burly bottom line, with one attorney estimating that divorce "can run anywhere from $1,820 (uncontested) to hundreds of thousands of dollars."
Many couples are opting for mediation to cut costs, or remaining in the same household until they can afford to split. The real-estate climate has become a sticking point: With property values low, one spouse buying the other's equity in a marital home isn't as difficult, "but paying the steep mortgages on your own is tough," a financial planner said.