What Are Some Financial Burdens of an Orange County Divorce?

Divorce may not be easy, and one of the most common concerns people have is the cost of it all. If you have been asking, what are some financial burdens of an Orange County divorce? The answer is, unfortunately, more than just legal fees. Divorce can have significant and long-term financial effects, and being aware of those consequences is an important part of preparing for your case and protecting your future.

Divorce Insights

The CDC reported that there were 2,041,926 marriages in the United States. The marriage rate was 6.1 per 1,000 population. The United States reported 672,502 divorces from data provided by 45 states, not including California. However, these numbers can provide insight into the state of California divorces as well. The rate is even higher in Orange County. The divorce rate was 2.4 per 1,000 population.

While it can be safe to say that most people do not enter marriage expecting divorce, it is a reality that many couples have to face, which comes with its own share of financial burdens. A divorce attorney can help you with these burdens.

Legal Fees

Perhaps one of the main expenses when it comes to divorce are legal fees. Retaining an experienced Orange County divorce attorney is essential if you wish to have control over the process, but it can come at a cost. Some of these mounting expenses include:

• Professional Expert Fees
• Deposition transcripts

These costs can mount up quickly, especially if your Orange County divorce is contentious, making it important to understand the potential overall cost of divorce from the outset. Some people think they can save money by doing it themselves, but California divorce laws are complicated, and mistakes can end up costing more than if you had hired a competent attorney in the first place.

Dividing Marital Property

California is a community property state. This means that generally assets acquired during the marriage are divided equally between the spouses. Dividing property, especially high-value property such as real estate, retirement assets, or businesses, can be financially burdensome and complex.

Couples must determine whether to sell assets, buy out the other spouse, or divide property in other ways. Negotiating these divisions often requires appraisals and financial analysis, which can increase both the complexity and cost.

Spousal Support

Spousal support (or alimony) is another expense that can occur in Orange County divorce cases. If the parties’ incomes are not comparable, one party may be ordered to pay support to the other.

Although intended to balance the equities, spousal support can cause a significant financial obligation for the party who must pay it. Even if it is just temporary spousal support ordered during the pendency of the divorce, the added expense can impact the budgets of both parties. It’s also worth noting that these spousal support orders are not always permanent and can be modified if circumstances change significantly.

Child Support

For most parents, child support is the largest continuing expense of divorce. Parents have a duty to children to provide adequate support. In California, the court determines how much child support to pay based on a formula involving the parents’ income, the number of days that each parent spends with the child and other factors.

In addition to these regular expenses, other additional costs related to children can include payments for insurance, schooling, and after-school activities. These expenses present a financial burden to family budgets because they add to the costs of supporting two separate households.

Debt Division

Debts, just like assets, must be split in divorce. Credit cards, personal loans, mortgages, and all sorts of other liabilities may be divided, or offset,between divorcing spouses. During marriage, one spouse often ends up with responsibility for debts they did not create or owe prior to their union because the debts originated during their married life.

Hire an Orange County Divorce Lawyer

We understand that divorce is seldom easy. Minyard Morris is a group of family law attorneys who, with over 350 years of combined experience, meet at least once a week to discuss cases, exchange strategies, and ensure each client receives the benefit of our extensive experience.

Divorce cases are typically filed and heard at the Orange County Superior Court’s Lamoreaux Justice Center, in nearby Orange, or the Santa Ana courthouse.  Hire an Orange County divorce lawyer who can help you through this process and achieve the best possible result.

FAQs

How Much Does It Cost to Get a Divorce in Orange County, CA?

The cost of a divorce in Orange County will vary from case to case, depending on many factors, including the complexity of the case, whether there are disputes over property or custody issues, and whether the spouses are willing to be flexible and compromise. Divorces that are more amicable  cost less because they require less attorney time.

Why Are Divorce Settlements So Expensive?

Divorce settlements can be costly as a result of the property, debt, and sometimes, business division, support, and custody determination. The more contested the issues, the more time attorneys will spend to prepare and litigate, and the more expensive the divorce. Additionally, emotional conflicts can delay an agreement, lengthening and increasing the costs.

How Long Does It Take to Get a Divorce in Orange County, CA?

California law requires six months to pass before a divorce may be finalized, but this doesn’t mean a case will take six months to complete. In many cases, especially those that are uncontested, a divorce may reach a resolution in far less than six months. Contested cases where the parties do not agree on property division, spousal or child support, or child custody may last a year or more.

What Is Considered an Expensive Divorce?

An expensive divorce is generally one in which there are significant assets, business ownership, or one in which there are drawn-out, high-conflict disputes over property division, custody, or support. These issues typically require additional insight from appraisers, professional witnesses, and the like. Legal fees tend to increase as more time is spent litigating issues that cannot be settled in a short period of time.

Contact Minyard Morris Today

If you are going through a divorce, we understand that the financial burden may seem insurmountable. However, hiring an Orange County family law attorney can provide you with peace of mind and ensure that you are receiving your fair share. Minyard Morris can help. Contact us today to get started.