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Can I Afford a Divorce?

There are many things to think about before you decide to file for a divorce. One thing that some people don’t carefully consider is whether or not they can afford it. A divorce can be quite expensive. If your breakup is contentious and you and your spouse are going to argue over everything, then it’s going to be extremely expensive. Our Morris County, NJ divorce lawyers can help you figure out if this is a financially feasible option for you.

What Should I Do Before Filing For a Divorce?

Before filing for a divorce, you should take a full inventory of your finances. We don’t just mean that you should look at what kind of money you have now. You should also think about how much money you could bring in on your own and what kinds of funds could be available to you. You should consider:

  • Your own assets and liabilities
  • How much money you make, if you work
  • How much money you would make if you returned to work
  • How much credit you have available to you
  • Whether you would be likely to secure another line of credit or loan

You can also seek out professional financial advice, if you have the resources. Thinking about these things can make it easier to figure out how you’ll be able to live and support yourself during and after a divorce.

Will I Get Alimony During a Divorce?

You should also think about whether or not receiving alimony is a possibility. New Jersey rarely awards permanent alimony, but you could receive alimony payments for a few years. It often depends on how long you were married and some other factors.

It is also possible that you will receive alimony during the divorce process. This temporary alimony is meant to help you pay your bills while you are on your own and proceeding with the divorce process.

Finally, rehabilitative alimony is also a possibility. If you have been staying at home and taking care of the kids, you may need education or job training before you can make a living on your own. This kind of alimony can support you while you do that, allowing you to become self-sufficient and making a divorce affordable.

Are There Less Expensive Methods Than Litigation?

A lawyer from our firm can also introduce you to less expensive methods of conflict resolution. Going to court is expensive, so using litigation to solve every issue in a divorce can get pricey quickly. We can see if methods like mediation, arbitration, or collaborative divorce work for you and your spouse.

Do I Really Need to Hire a Lawyer?

We know it’s another expense, but hiring your own lawyer is recommended. If one spouse has a lawyer and the other does not, that’s not an even playing field. In some cases, your spouse can be ordered to pay for your lawyer if they can afford one and you cannot.

Talk to Our Attorneys Today

If you want to learn more about filing for a divorce and what it could potentially cost, contact Townsend, Tomaio & Newmark. We can schedule a consultation and tell you more about what you should expect.