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Unanticipated costs may catch spouses off guard during divorce

If two spouses are having a hard time getting along, then getting divorced may not be a bad idea. This is true despite how heartbreaking, taxing and stressful divorce can be. Being prepared for often unexpected costs can make the divorce process a bit easier to manage in New York.

One expense that is sometimes overlooked is the cost of counseling. Counseling can be immensely helpful for those emotionally struggling during divorce. It can be particularly helpful when children of divorce are having a tough time coping with their parents' breakup.

Another important cost to consider is moving expenses. This is especially important for spouses who decide to sell the house, split the proceeds and move on to their own individual residences, or for those who decide to leave the family home to a future ex and take other assets instead. Moving can be expensive, so setting aside several thousand dollars as soon as possible during the divorce proceeding may be beneficial. Insurance changes may also be costly -- specifically, dissolving existing home insurance, auto insurance, dental plans and health plans and getting new ones. These costs are an important consideration when simultaneously balancing the other financial costs associated with getting divorced.

When going through divorce in New York, the parties may opt to try out divorce mediation or negotiation, which can be more amicable than traditional litigation. With these alternatives to litigation, the two can work on reaching a divorce settlement that meets both of their needs. An attorney will strive to make sure that one's rights are safeguarded and that a fair share of assets are secured during the divorce proceeding.

Source: cheatsheet.com, "Getting a Divorce? Avoid Getting Blindsided by These Unexpected Costs", Sam Becker, July 19, 2017

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