A divorce can be one of the most emotionally draining times in a person’s life. Transitioning to a new way of living takes its toll, and can often be financially devastating as well. Often times, people do not realize all the factors that need to be considered when determining the cost of divorce.
Co-habitation vs living apart: Mortgage and utilities are a shared benefit of a household. When two people decide to separate, their living expenses increase and there is less money left over for emergencies, investments and retirement funds.
One salary to support two households: (at least initially) There are many cases where one spouse is not working, often times because he/she is caring for young children. If a divorcing couple find themselves in this situation, both parties need to brace themselves for an initial lifestyle change.
The cost of moving: Factors that must be considered when moving into a new home or an apartment include paying utility deposits, the cost of first and last month’s rent (if applicable), money charged for storage facilities, activation fees for cable and other Internet connections, plus the cost of movers. It is important to estimate the additional monthly expenses that will be incurred because of the move.
Medical costs: The sad reality is that divorce can take its toll on a person’s body and spirit. People often find themselves needing expensive treatment for depression, high blood pressure, and heart disease brought on by the stress of the divorce.
Children: Ensuring that children’s needs are met in both households can be costly. Often times, professional counseling is needed in order to help children cope with the fact that their parents will no longer be living together.
Baltimore Divorce Lawyers at Huesman, Jones & Miles, LLC, Help Couples Cope with Financial Issues Associated with Divorce
At Huesman, Jones & Miles, LLC, our dedicated Hunt Valley divorce lawyers help divorcing couples resolve their financial issues with regard to child support, alimony, and the division of property without the need for expensive judicial proceedings. Our offices are conveniently located to serve family law clients throughout the greater Baltimore area including residents in Baltimore County, Carroll County, Harford County and Howard County as well as in the communities of Towson, Bel Air, Columbia, Westminster and Essex. Call Huesman, Jones & Miles, LLC, at (443) 589-0150 or submit an online inquiry form today to schedule your free confidential consultation.
